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Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.

Ally and Capital One offer a good variety of online banking options. If you’re looking for competitive high-yield savings accounts, interest-earning checking accounts, or CDs, you’ll find these accounts at both banks.

We’ve compared Ally and Capital One accounts below to see which institution stands out the most. We’re also evaluating each bank’s trustworthiness so you can know more about each institution’s history.

Pros and cons of Ally

Pros and cons of Capital One 360

Ally vs. Capital One 360 checking account comparisons

Ally and Capital One both offer a fee-free interest-earning checking account. Capital One also has a joint checking account for minors featured on our best teen checking accounts guide.

Capital One 360 Checking®


Annual Percentage Yield (APY)

0.10% APY


Minimum Deposit Amount

$0

Capital One Capital One 360 Checking®

Capital One 360 Checking®


Annual Percentage Yield (APY)

0.10% APY


Minimum Deposit Amount

$0


Annual Percentage Yield (APY)

0.10% APY


Minimum Deposit Amount

$0

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Ally vs. Capital One 360 savings account comparisons

Ally and Capital One pay competitive interest rates on savings accounts. You’ll also be able to open a kid’s savings account at Capital One. 

Ally Ally High Yield Savings Account

Ally High Yield Savings Account


Annual Percentage Yield (APY)

2.25% APY


Minimum Deposit Amount

$0

Ally Ally High Yield Savings Account

Ally High Yield Savings Account


Annual Percentage Yield (APY)

2.25% APY


Minimum Deposit Amount

$0


Annual Percentage Yield (APY)

2.25% APY


Minimum Deposit Amount

$0

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Capital One Capital One 360 Performance Savings™

Capital One 360 Performance Savings™


Annual Percentage Yield (APY)

2.15% APY


Minimum Deposit Amount

$0

Capital One Capital One 360 Performance Savings™

Capital One 360 Performance Savings™


Annual Percentage Yield (APY)

2.15% APY


Minimum Deposit Amount

$0


Annual Percentage Yield (APY)

2.15% APY


Minimum Deposit Amount

$0

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Ally vs. Capital One 360 CD comparisons 

Capital One Capital One 360 Certificate of Deposit®

Capital One 360 Certificate of Deposit®


Annual Percentage Yield (APY)

2.00% to 3.50% APY


Minimum Deposit Amount

$0

Capital One Capital One 360 Certificate of Deposit®

Capital One 360 Certificate of Deposit®


Annual Percentage Yield (APY)

2.00% to 3.50% APY


Minimum Deposit Amount

$0


Annual Percentage Yield (APY)

2.00% to 3.50% APY


Minimum Deposit Amount

$0

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Ally vs. Capital One 360 money market account

Capital One 360 doesn’t offer a money market account, but Ally does. The Ally Money Market Account is a great choice if you’d like to open a money market account with an online bank.

It’s featured in our best money market accounts guide, which includes fee-free accounts with competitive interest rates. The Ally Money Market Account stands out because it doesn’t require a minimum opening deposit. Usually, banks ask for at least $1,000 to open an account. 

Ally Ally Money Market Account

Ally Money Market Account


Annual Percentage Yield (APY)

2.25% APY


Minimum Deposit Amount

$0

Ally Ally Money Market Account

Ally Money Market Account


Annual Percentage Yield (APY)

2.25% APY


Minimum Deposit Amount

$0


Annual Percentage Yield (APY)

2.25% APY


Minimum Deposit Amount

$0

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Ally vs. Capital One trustworthiness and BBB rating

The Better Business Bureau evaluates businesses to see if they effectively respond to customer issues and have honest advertising practices.

Capital One currently has an A- rating due to a high volume of customer complaints on the BBB website. Meanwhile, Ally received a C- rating because it has a high volume of customer complaints and two unresolved customer issues. 

A high BBB rating doesn’t necessarily guarantee your relationship with a bank will be perfect. Reach out to current customers or read online customer reviews to see if a bank might be a good fit for you.

Ally hasn’t been involved in any public controversies, but Capital One has experienced one recent settlement.

In 2020, The Office of the Comptroller of Currency required Capital One to pay $80 million in a settlement that said the bank had inefficient security practices, which comprised personal information of bank credit cardholders.



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