Published
Marcus by Goldman Sachs vs Ally Bank
Marcus by Goldman Sachs and Ally Bank are two of the best-known online places to keep savings. Both are real FDIC-insured banks, both have been marketed with no monthly fees on savings, and both are online-only. The biggest difference is scope: Marcus is a savings and CD specialist, while Ally is a full online bank with checking, savings, money market accounts and CDs.
Quick verdict
Choose Marcus if you only need a savings account or CD and plan to keep checking somewhere else.
Choose Ally if you want checking and savings at the same bank, instant transfers between them, a debit card and ATM access.
Side-by-side comparison
| Feature | Marcus by Goldman Sachs | Ally Bank |
|---|---|---|
| Bank behind the brand | Goldman Sachs Bank USA (Member FDIC) | Ally Bank (Member FDIC) |
| Savings APY at our April 2026 review | 4.40% | 4.35% |
| Checking account | No | Yes (Spending Account) |
| Debit card / ATM access | No | Yes, Allpoint network |
| CDs | High-yield and no-penalty CDs | High-yield, no-penalty and raise-your-rate CDs |
| Money market account | No | Yes |
| Monthly fee on savings | $0 | $0 |
| Minimum opening deposit (savings) | None | None |
| Savings organization tools | Basic savings goals | Savings buckets, round-ups, automatic transfers |
Rates were recorded at our last review (April 2026) and are variable. The gap between the two has usually been small and has flipped back and forth over time, so compare the current APYs on marcus.com and ally.com on the day you decide.
Rates: usually close, so decide on features
For most of the past few years Marcus and Ally savings rates have been within a fraction of a percentage point of each other, and neither has required direct deposit or a minimum balance to earn its standard rate. A difference of 0.05 to 0.25 percentage points works out to a few dollars to a few tens of dollars a year on a typical emergency fund. Use the savings calculator to check your own numbers. With a gap that small, account features usually matter more.
Moving money
This is the practical difference you'll notice day to day. Marcus has no checking account, so every withdrawal goes to a linked account at another bank by electronic transfer, which usually takes one or more business days. At Ally, transfers between your own Ally savings and checking are generally immediate. That makes it easy to cover an unexpected bill from savings the same day.
CDs and longer-term savings
Both banks offer CDs, including no-penalty CDs that let you withdraw early without the usual penalty after an initial waiting period. Ally has also offered a raise-your-rate CD. If you're building a CD ladder, compare the current rate for each term on both sites, since one bank may lead on short terms and the other on long terms.
Safety
Both are FDIC-insured banks, so deposits are protected up to $250,000 per depositor, per bank, per ownership category. Because they are separate banks, holding money at both lets you insure more in total. See our FDIC insurance guide for how ownership categories work.
Who each bank suits
Marcus fits if you:
- Want savings kept separate from spending money
- Are happy with checking at another bank
- Mainly want savings and CDs, nothing else
Ally fits if you:
- Want checking and savings at one bank
- Need a debit card and ATM access
- Like buckets and automatic savings tools
- Want a money market account option
Related reading
Editorial note: this page is general information, not financial advice. See the editorial disclaimer for the full statement. Rates, fees and account terms change without notice — confirm current details with each bank before you open an account.