Ally Bank is a strong choice for those prioritizing high-yield savings and fee-free banking with 24/7 customer service, while Citigroup may be better for those who prefer in-person banking and ATM access, but it may come with monthly fees and lower interest rates.
| Attribute | Ally Bank | Citigroup |
|---|---|---|
| Interest Rates on Savings Accounts | Competitive interest rates, e.g., 3.60% as of January 17, 2025, and 4.20% APY as of June 6, 2024. Interest is compounded daily. | Citi's savings account interest rates are generally lower compared to online banks. The specific APY depends on the type of checking account you have. |
| Checking Account Fees | No monthly maintenance fees; no fees for expedited ACH transfers, statements, incoming wires, or cashier's checks. | Regular Checking: $15 monthly fee (waivable with Relationship Tier or $250+ in Enhanced Direct Deposits). Access Checking: $5 monthly fee (waivable with Relationship Tier or $250+ in Enhanced Direct Deposits). Citigold Account Package: No monthly fee (requires $200,000 minimum combined monthly average balance). Citi Priority Account Package: $30 monthly fee (waivable with $50,000+ average monthly balance). |
| Minimum Balance Requirements | No minimum balance required for savings or checking accounts. | Minimum balances required to waive monthly service fees vary depending on the account. |
| ATM Access and Fees | Access to over 75,000 ATMs through Allpoint and MoneyPass networks in the U.S. Reimbursement up to $10 per statement cycle for out-of-network ATM fees. | No charge for cash withdrawals at Citibank ATMs in the U.S. $2.50 Non-Citi ATM fee for out-of-network ATMs (for those not in a Citi Priority, Citigold, or Citigold Private Client Relationship Tier). |
| Mobile Banking App Rating | Apple app: 4.7-star rating (early 2025); Android app: 3.8-star rating (early 2025). | Not available |
| Customer Service Availability | 24/7 customer service via phone and online chat. Website displays current call wait times. | Not available |
| Online Bill Pay Features | Securely pay bills from Spending Account. Pay companies or individuals, set up recurring payments, and rush deliver payments for a fee. | Not available |
| Mortgage Options and Rates | Discontinued offering home loan products to new applicants as of January 31, 2025. Previously offered fixed-rate and adjustable-rate mortgages, including jumbo loans. | Not available |
| Personal Loan Options and Rates | Not available | Not available |
| Credit Card Offerings | Ally Unlimited Cash Back Mastercard, Ally Everyday Cash Back Mastercard, and Ally Platinum Mastercard. Available by invitation only. | Not available |
| FDIC Insurance Coverage | FDIC-insured, covering deposits up to $250,000 per depositor, per account category. | Not available |
| Branch Accessibility | Online-only bank with no physical branches. | Citibank has over 600 branches and 2,300+ ATMs. |