Ally vs Marcus: Which Online Bank Is Better?

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Marcus by Goldman Sachs and Ally are two of the best online banks. To help you figure out which one is the best fit for you, we've analyzed the details of each of their bank accounts, then selected a winner for each category. We've also compared the financial institutions in trustworthiness so you can see how a bank deals with customer issues and complaints.

Ally Pros and Cons

Marcus Pros and Cons

Ally vs. Marcus Savings Account Comparisons

Below, we've compared high-yield savings accounts offered by each bank. 

Ally and Marcus have two of the best high-yield savings accounts out there. The main differences are their special features. Ally has savings buckets, which allow you to split your savings into different "buckets" all in one savings accounts. You can title the buckets for your goals, such as "Emergency Fund" or "Travel."

Ally's surprise savings tool also assesses your checking account three days per week. If its algorithm shows that you have extra money to set aside, it will automatically move "surprise savings" into your savings account to help you save more.

Marcus' mobile app has a budgeting tool that helps you track your income and spending all in one place.

Ally vs. Marcus CD Comparisons 

Below we've compared Ally and Marcus's regular CDs.

Both institutions offer more CD options, though. Ally has an 11-month no-penalty CD and Raise Your Rates CDs that may increase your rate if Ally's rates rise during your term. Meanwhile, Marcus has a 7-month, 11-month, and 13-month no-penalty CD, as well as a 20-month rate-bump CD.

Ally CD rates and Marcus CD rates are both high overall. The banks offer similar types of certificates: high-yield CDs, no-penalty CDs, and CDs that let you raise your rate during the term. (Ally calls these Raise Your Rate CDs, Marcus calls them rate bump CDs.)

Your choice could come down to which term you want. The Marcus 20-month Rate Bump CD - Product Name Only pays a higher rate than Ally Raise Your Rate CD - Product Name Only 2-year or 4-year terms (although the 4-year certificate lets you raise your rate twice). Ally pays a higher rate on its 11-month Ally No Penalty CD - Product Name Only than Marcus does on its 11-month no-penalty option, though.

If you want a regular high-yield CD, the best choice will come down to which term length you want to open.

Ally vs. Marcus Checking Account and Money Market Account

Marcus only offers a high-yield savings account and CDs. If you'd like to open a checking account or money market account, you'll have to turn to Ally.

The Ally Interest Checking Account - Product Name Only doesn't charge monthly service fees, overdraft fees, or out-of-network ATM fees. You'll have access to 43,000 ATMs throughout the US, and Ally reimburses up to $10 in out-of-network ATM fees. You can get your paycheck up to two days early if you set up direct deposit.

The Ally Money Market Account - Product Name Only is pretty similar to the bank's high-yield savings account. The main difference between the two accounts is the money market account includes a debit card and paper checks, making it easier to access your money.

Ally vs. Marcus Trustworthiness and BBB Ratings

We use ratings from the Better Business Bureau so you can see how a bank deals with customer issues. 

Ally received an A rating from the BBB because it has a few unresolved complaints. Marcus received an A+ rating.

A good BBB rating isn't necessarily the be-all and end-all. Talk to current customers or read online customer reviews to see if a financial institution might be a good fit.

Neither Ally nor Marcus has been involved in any recent public scandals.