Charles Schwab Bank vs Ally Bank
Charles Schwab Bank is a popular brokerage with a free checking account that refunds ATM fees. How does it compare to Ally Bank? Read our comparison chart below.
Charles Schwab Bank offers an Investor Checking account with unlimited ATM fee reimbursements worldwide and no foreign transaction fees. No minimum to open and no service fee. It is tied to a brokerage account but you don't have to use it.
While Ally Bank offers high interest on their Savings account. It also offers interest checking and multiple CD options, including No Penalty and Raise Your Rate CDs. There is no minimum deposits or service fees for any of their banking products.
Compare Charles Schwab Bank with Ally Bank, side-by-side. Read on for an in-depth look, including ratings and reviews.
Charles Schwab Bank | Ally Bank | |
---|---|---|
High Yield Investor Checking – Unlimited ATM Rebates - | Online Savings Account - 3.80% APY - | |
Benefits and Features | ||
Savings | ||
CD | Offers brokered CDs from other banks. Minimum deposit of $1,000. | 2.90% to 4.10% APY. Terms of 3 months to 5 years. 12-month CD APY of 3.90% |
Checking | 0.10% APY for daily balances less than $15,000. 0.25% APY for daily balances over $15,000 | |
Money Market | ||
Mobile App | ||
ATMs | Unlimited ATM fee rebates when used with ATMs with the Visa, Interlink logo. Available worldwide. | 75,000+ no-fee Allpoint and MoneyPass ATMs |
Customer Service | 24/7 Live Customer Service (Telephone and Chat) | |
Locations | 345 branches across the country. You may also open an account online. | |
CreditDonkey® Reviews | ||
Savings | ||
Checking | ||
Mobile App | ||
Customer Service | ||
Pros & Cons | Pros:
| |
Bottom Line | Popular brokerage with a free checking account that refunds ATM fees... | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Charles Schwab Bank: Pricing information from published website as of 12/06/2024. Ally Bank: Pricing information from published website as of 12/10/2024. |
Which is Better: Charles Schwab Bank or Ally Bank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Charles Schwab Bank or Chase.