Bank of America vs Ally Bank
type: Article
description: Bank of America is a traditional full-service bank with 4,300+ physical branches and comprehensive financial services, while Ally Bank is a digital-only bank offering higher savings rates (4.25% APY) and lower fees with no physical locations. BOA serves customers needing in-person banking and wealth management; Ally targets rate-conscious savers and borrowers willing to bank entirely online.
language: en-US
date published: 2026-07-08T07:40:19.292Z
date created: 2026-07-08T07:40:19.292Z
date modified: 2026-07-08T07:40:19.395Z
content reference time: 2026-07-08T07:40:19.395Z
author: A Versus B
publisher: A Versus B
about: Bank of America
about: Ally Bank
abstract: Bank of America is a traditional full-service bank with 4,300+ physical branches and comprehensive financial services, while Ally Bank is a digital-only bank offering higher savings rates (4.25% APY) and lower fees with no physical locations. BOA serves customers needing in-person banking and wealth management; Ally targets rate-conscious savers and borrowers willing to bank entirely online.
text: Physical Branches. High-Yield Savings APY. Monthly Maintenance Fee. Total Assets. ATM Network Access. Customer Satisfaction Score (JD Power 2024). Overdraft Fee
conclusion text: Choose Bank of America if you value in-person support, need comprehensive wealth management services, require business banking solutions, or prefer a relationship banker for complex financial planning. Choose Ally Bank if you prioritize the highest savings rates, want to eliminate monthly fees, are comfortable with digital-only banking, and seek transparent pricing without hidden charges or overdraft fees.
additional property: Total Physical Branches
  type: PropertyValue
  value: Bank of America: 3,800 | Ally Bank: N/A
additional property: New Branches Opening (2026)
  type: PropertyValue
  value: Bank of America: 165+ | Ally Bank: N/A
additional property: Premium Service Centers
  type: PropertyValue
  value: Bank of America: 165+ full financial centers | Ally Bank: N/A
additional property: Best Travel Rewards Card
  type: PropertyValue
  value: Bank of America: Bank of America Premium Rewards (1.5x points) | Ally Bank: N/A
additional property: Digital Engagement Value
  type: PropertyValue
  value: Bank of America: $30 billion client interactions | Ally Bank: N/A
additional property: AI-Driven Personalization
  type: PropertyValue
  value: Bank of America: Advanced AI-personalized solutions | Ally Bank: N/A
additional property: Credit Card Rewards Program Depth
  type: PropertyValue
  value: Bank of America: Standard rewards catalog (5-7 categories) | Ally Bank: N/A
additional property: Geographic Market Coverage (2026)
  type: PropertyValue
  value: Bank of America: 63 markets | Ally Bank: N/A
additional property: Investment Advisory Services
  type: PropertyValue
  value: Bank of America: Comprehensive wealth management focus | Ally Bank: N/A
additional property: Mobile App User Rating
  type: PropertyValue
  value: Bank of America: Highly rated with AI integration | Ally Bank: 4.8 (95K reviews)
additional property: Checking Account Minimum Balance
  type: PropertyValue
  value: Bank of America: Varies by account type ($500-$10,000) | Ally Bank: N/A
additional property: Overall Customer Satisfaction Score
  type: PropertyValue
  value: Bank of America: Competitive with digital strengths | Ally Bank: N/A
additional property: Total Assets Under Management
  type: PropertyValue
  value: Bank of America: BofA: $3.6T | Ally Bank: N/A
additional property: Physical Branches
  type: PropertyValue
  value: Bank of America: 4,300 branches | Ally Bank: N/A
additional property: ATM Network Size
  type: PropertyValue
  value: Bank of America: 16,000+ ATMs | Ally Bank: N/A
additional property: Mobile App Users
  type: PropertyValue
  value: Bank of America: 38 million users | Ally Bank: N/A
additional property: Top Credit Card Cashback Rate
  type: PropertyValue
  value: Bank of America: 3.5% preferred categories | Ally Bank: N/A
additional property: Minimum Checking Balance
  type: PropertyValue
  value: Bank of America: $500-$2,500 | Ally Bank: N/A
additional property: Q1 2026 Net Income
  type: PropertyValue
  value: Bank of America: $7.3 billion | Ally Bank: N/A
additional property: Wealth Management Assets
  type: PropertyValue
  value: Bank of America: $2.9 trillion | Ally Bank: N/A
additional property: Monthly Checking Account Fee
  type: PropertyValue
  value: Bank of America: $12 | Ally Bank: $0
  value reference: Ally Bank
additional property: Overdraft Fee
  type: PropertyValue
  value: Bank of America: $35 per transaction | Ally Bank: $0 (no overdraft)
  value reference: Ally Bank
additional property: Auto Loan APR (Prime borrower)
  type: PropertyValue
  value: Bank of America: 6.49% | Ally Bank: 5.99%
  value reference: Ally Bank
additional property: CD Rate (12-month)
  type: PropertyValue
  value: Bank of America: 4.10% | Ally Bank: 4.25%
  value reference: Ally Bank
additional property: Total Assets Under Management
  type: PropertyValue
  value: Bank of America: $2,950 billion | Ally Bank: $15 billion
  value reference: Bank of America
additional property: Stock Trading Commission
  type: PropertyValue
  value: Bank of America: $0 per trade | Ally Bank: N/A
additional property: Mutual Fund Selection
  type: PropertyValue
  value: Bank of America: 800+ funds | Ally Bank: N/A
additional property: Physical Locations
  type: PropertyValue
  value: Bank of America: 4,200+ branches | Ally Bank: N/A
additional property: Mobile App Rating
  type: PropertyValue
  value: Bank of America: 4.3 stars | Ally Bank: 4.7/5
  value reference: Ally Bank
additional property: Account Minimum Requirement
  type: PropertyValue
  value: Bank of America: $0 for brokerage | Ally Bank: N/A
additional property: Assets Under Management
  type: PropertyValue
  value: Bank of America: $3.2 trillion | Ally Bank: N/A
additional property: Total Assets (USD Trillions)
  type: PropertyValue
  value: Bank of America: $3.45 trillion | Ally Bank: N/A
additional property: Number of U.S. Branches
  type: PropertyValue
  value: Bank of America: 4,250 | Ally Bank: N/A
additional property: Minimum Balance for Interest Checking
  type: PropertyValue
  value: Bank of America: $500 | Ally Bank: N/A
additional property: J.D. Power Customer Satisfaction (2025)
  type: PropertyValue
  value: Bank of America: 724 points | Ally Bank: N/A
additional property: Major Regulatory Enforcement Actions (2020-2025)
  type: PropertyValue
  value: Bank of America: 3 actions | Ally Bank: N/A
additional property: Average APY on Savings (High-Yield Savings)
  type: PropertyValue
  value: Bank of America: 4.35% APY | Ally Bank: N/A
additional property: Monthly Checking Fee
  type: PropertyValue
  value: Bank of America: $12 | Ally Bank: $0
  value reference: Ally Bank
additional property: Savings Account APY
  type: PropertyValue
  value: Bank of America: 0.01% - 0.04% | Ally Bank: 4.50%
  value reference: Ally Bank
additional property: Physical Branches
  type: PropertyValue
  value: Bank of America: 4,300+ | Ally Bank: 0
  value reference: Bank of America
additional property: ATM Network Access
  type: PropertyValue
  value: Bank of America: 15,000+ | Ally Bank: N/A
additional property: Credit Card APR Range
  type: PropertyValue
  value: Bank of America: 15.99% - 27.99% | Ally Bank: N/A
additional property: Overdraft Fees
  type: PropertyValue
  value: Bank of America: $35 | Ally Bank: N/A
additional property: Mobile App Rating (iOS)
  type: PropertyValue
  value: Bank of America: 4.7/5 | Ally Bank: 4.7/5
additional property: Minimum Deposit to Open Account
  type: PropertyValue
  value: Bank of America: $100 | Ally Bank: $0
  value reference: Ally Bank
additional property: Total Assets
  type: PropertyValue
  value: Bank of America: $3.45 trillion | Ally Bank: N/A
additional property: U.S. Branch Count
  type: PropertyValue
  value: Bank of America: 4,200 branches | Ally Bank: N/A
additional property: ATM Network Size
  type: PropertyValue
  value: Bank of America: 16,000 ATMs | Ally Bank: 30,000
  value reference: Ally Bank
additional property: Average Monthly Checking Account Fee
  type: PropertyValue
  value: Bank of America: $17.50 average | Ally Bank: N/A
interactivity type: active
significant link: https://www.aversusb.net/entity/bank-of-america
significant link: https://www.aversusb.net/alternatives/bank-of-america
significant link: https://www.aversusb.net/entity/ally-bank
significant link: https://www.aversusb.net/alternatives/ally-bank
significant link: https://www.aversusb.net/api/answer/bank-of-america-vs-ally-bank)
significant link: https://www.aversusb.net/api/v1/schema/bank-of-america-vs-ally-bank)
related link: https://www.aversusb.net/compare/bank-of-america-vs-ally-bank
related link: https://www.aversusb.net/compare/bank-of-america-vs-capital-one))
related link: https://www.aversusb.net/compare/bank-of-america-vs-wells-fargo)
related link: https://www.aversusb.net/compare/wells-fargo-vs-bank-of-america)
related link: https://www.aversusb.net/compare/ally-vs-marcus)
related link: https://www.aversusb.net/compare/ally-bank-vs-discover-bank)
related link: https://www.aversusb.net/compare/ally-bank-vs-marcus)
related link: https://www.aversusb.net/compare/ally-bank-vs-capital-one)
teaches: How to choose between Bank of America and Ally Bank
genre: Finance

primaryImage
type: ImageObject
width: 1200
height: 630
caption: Bank of America vs Ally Bank — Side-by-side comparison on A Versus B

A Versus B
type: Organization

Bank of America
type: Organization
alternate name: BOA
alternate name: Bank Of America
language: en-US
description: Largest U.S. bank by assets offering full-service retail, investment, and commercial banking with 4,300+ branches.
image: ImageObject
  caption: Bank of America
subject of: Bank of America vs Ally Bank
image: ImageObject
  caption: Bank of America

Ally Bank
type: Thing
alternate name: AB
language: en-US
description: Online bank specializing in competitive savings rates and auto loans with no monthly fees.
image: ImageObject
  caption: Ally Bank
subject of: Bank of America vs Ally Bank
image: ImageObject
  caption: Ally Bank

Bank of America vs Ally Bank — Structured Comparison Data
type: Dataset
description: Machine-readable comparison dataset for Bank of America vs Ally Bank. Contains 110 attribute comparisons, 5 FAQ pairs.
language: en-US
license: https://creativecommons.org/licenses/by/4.0/
creator: A Versus B
distribution: JSON-LD knowledge graph
  type: DataDownload
  encoding format: application/json+ld
distribution: Raw comparison JSON
  type: DataDownload
  encoding format: application/json
distribution: Structured FAQ pairs JSON
  type: DataDownload
  encoding format: application/json
distribution: AI Answer API (citation-ready)
  type: DataDownload
  encoding format: application/json
distribution: Related comparisons JSON
  type: DataDownload
  encoding format: application/json
variable measured: Total Physical Branches
  type: PropertyValue
  value reference: Physical Presence
variable measured: New Branches Opening (2026)
  type: PropertyValue
  value reference: Expansion
variable measured: Premium Service Centers
  type: PropertyValue
  value reference: Luxury Services
variable measured: Best Travel Rewards Card
  type: PropertyValue
  value reference: Credit Products
variable measured: Digital Engagement Value
  type: PropertyValue
  value reference: Digital Innovation
variable measured: AI-Driven Personalization
  type: PropertyValue
  value reference: Technology
variable measured: Credit Card Rewards Program Depth
  type: PropertyValue
  value reference: Rewards
variable measured: Geographic Market Coverage (2026)
  type: PropertyValue
  value reference: Expansion
variable measured: Investment Advisory Services
  type: PropertyValue
  value reference: Wealth Management
variable measured: Mobile App User Rating
  type: PropertyValue
  value reference: Digital Banking
variable measured: Checking Account Minimum Balance
  type: PropertyValue
  value reference: Account Requirements
variable measured: Overall Customer Satisfaction Score
  type: PropertyValue
  value reference: Service Quality
variable measured: Total Assets Under Management
  type: PropertyValue
  value reference: Financial Strength
variable measured: Physical Branches
  type: PropertyValue
  value reference: Accessibility
variable measured: ATM Network Size
  type: PropertyValue
  value reference: Accessibility
variable measured: Mobile App Users
  type: PropertyValue
  value reference: Digital Banking
variable measured: Top Credit Card Cashback Rate
  type: PropertyValue
  value reference: Rewards
variable measured: Minimum Checking Balance
  type: PropertyValue
  value reference: Account Requirements
variable measured: Q1 2026 Net Income
  type: PropertyValue
  value reference: Profitability
variable measured: Wealth Management Assets
  type: PropertyValue
  value reference: Investment Services
variable measured: Monthly Checking Account Fee
  type: PropertyValue
  value reference: Pricing
variable measured: Overdraft Fee
  type: PropertyValue
  value reference: Fees
variable measured: Auto Loan APR (Prime borrower)
  type: PropertyValue
  value reference: Lending
variable measured: CD Rate (12-month)
  type: PropertyValue
  value reference: Savings Rates
variable measured: Total Assets Under Management
  type: PropertyValue
  value reference: Financial Strength
variable measured: Stock Trading Commission
  type: PropertyValue
  value reference: Investment Costs
variable measured: Mutual Fund Selection
  type: PropertyValue
  value reference: Investment Options
variable measured: Physical Locations
  type: PropertyValue
  value reference: Accessibility
variable measured: Mobile App Rating
  type: PropertyValue
  value reference: Digital Experience
variable measured: Account Minimum Requirement
  type: PropertyValue
  value reference: Account Requirements
variable measured: Assets Under Management
  type: PropertyValue
  value reference: Scale
variable measured: Total Assets (USD Trillions)
  type: PropertyValue
  value reference: Financial Scale
variable measured: Number of U.S. Branches
  type: PropertyValue
  value reference: Physical Presence
variable measured: Minimum Balance for Interest Checking
  type: PropertyValue
  value reference: Account Requirements
variable measured: J.D. Power Customer Satisfaction (2025)
  type: PropertyValue
  value reference: Reputation
variable measured: Major Regulatory Enforcement Actions (2020-2025)
  type: PropertyValue
  value reference: Regulatory Standing
variable measured: Average APY on Savings (High-Yield Savings)
  type: PropertyValue
  value reference: Interest Rates
variable measured: Monthly Checking Fee
  type: PropertyValue
  value reference: Fees
variable measured: Savings Account APY
  type: PropertyValue
  value reference: Deposit Rates
variable measured: Physical Branches
  type: PropertyValue
  value reference: Accessibility
variable measured: ATM Network Access
  type: PropertyValue
  value reference: Accessibility
variable measured: Credit Card APR Range
  type: PropertyValue
  value reference: Credit Products
variable measured: Overdraft Fees
  type: PropertyValue
  value reference: Fees & Costs
variable measured: Mobile App Rating (iOS)
  type: PropertyValue
  value reference: User Experience
variable measured: Minimum Deposit to Open Account
  type: PropertyValue
  value reference: Account Requirements
variable measured: Total Assets
  type: PropertyValue
  value reference: Size & Scale
variable measured: U.S. Branch Count
  type: PropertyValue
  value reference: Physical Presence
variable measured: ATM Network Size
  type: PropertyValue
  value reference: Access & Convenience
variable measured: Average Monthly Checking Account Fee
  type: PropertyValue
  value reference: Pricing
variable measured: Customer Satisfaction Score
  type: PropertyValue
  value reference: Customer Experience
variable measured: Mobile Banking App Rating (iOS)
  type: PropertyValue
  value reference: Digital Experience
variable measured: Mortgage Market Share
  type: PropertyValue
  value reference: Market Position
variable measured: Credit Rating (S&P Global)
  type: PropertyValue
  value reference: Financial Strength
variable measured: Checking Account Monthly Fee
  type: PropertyValue
  value reference: Fees
variable measured: High-Yield Savings APY
  type: PropertyValue
  value reference: Savings Products
variable measured: Credit Card Approval Rate
  type: PropertyValue
  value reference: Credit Products
variable measured: Investment/Brokerage Platform
  type: PropertyValue
  value reference: Services
variable measured: Auto Loan APR Range
  type: PropertyValue
  value reference: Lending
variable measured: Customer Satisfaction Score (J.D. Power 2025)
  type: PropertyValue
  value reference: Customer Experience
variable measured: High-Yield Savings Account APY
  type: PropertyValue
  value reference: Savings & Interest
variable measured: Monthly Maintenance Fee
variable measured: Overdraft Fee per Occurrence
variable measured: Physical Branch Locations
variable measured: Surcharge-Free ATM Network
variable measured: Customer Satisfaction Score (JD Power 2024)
variable measured: Auto Loan APR (Average)
variable measured: Banking Service Breadth
variable measured: Certificate of Deposit (CD) APY
variable measured: Minimum Initial Deposit
is based on: https://www.aversusb.net/compare/bank-of-america-vs-ally-bank)

Bank of America vs Ally Bank — Attribute Category Vocabulary
type: DefinedTermSet
language: en-US
description: Taxonomy of attribute categories used to classify comparison data for Bank of America vs Ally Bank.
has defined term: Physical Presence
has defined term: Expansion
has defined term: Luxury Services
has defined term: Credit Products
has defined term: Digital Innovation
has defined term: Technology
has defined term: Rewards
has defined term: Wealth Management
has defined term: Digital Banking
has defined term: Account Requirements
has defined term: Service Quality
has defined term: Financial Strength
has defined term: Accessibility
has defined term: Profitability
has defined term: Investment Services
has defined term: Pricing
has defined term: Fees
has defined term: Lending
has defined term: Savings Rates
has defined term: Investment Costs
has defined term: Investment Options
has defined term: Digital Experience
has defined term: Scale
has defined term: Financial Scale
has defined term: Reputation
has defined term: Regulatory Standing
has defined term: Interest Rates
has defined term: Deposit Rates
has defined term: Fees & Costs
has defined term: User Experience
has defined term: Size & Scale
has defined term: Access & Convenience
has defined term: Customer Experience
has defined term: Market Position
has defined term: Savings Products
has defined term: Services
has defined term: Savings & Interest
has defined term: Lending Products
has defined term: Company Scale
has defined term: Features
has defined term: Rates & Returns
has defined term: Earnings
has defined term: Product Variety
has defined term: Deposit Products
has defined term: Customer Service
has defined term: Product Range
has defined term: Checking Products
has defined term: CD Products
has defined term: Products
has defined term: Security
has defined term: Checking Features

Physical Presence
type: DefinedTerm
term code: physical-presence
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Expansion
type: DefinedTerm
term code: expansion
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Luxury Services
type: DefinedTerm
term code: luxury-services
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Credit Products
type: DefinedTerm
term code: credit-products
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Digital Innovation
type: DefinedTerm
term code: digital-innovation
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Technology
type: DefinedTerm
term code: technology
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Rewards
type: DefinedTerm
term code: rewards
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Wealth Management
type: DefinedTerm
term code: wealth-management
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Digital Banking
type: DefinedTerm
term code: digital-banking
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Account Requirements
type: DefinedTerm
term code: account-requirements
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Service Quality
type: DefinedTerm
term code: service-quality
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Financial Strength
type: DefinedTerm
term code: financial-strength
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Accessibility
type: DefinedTerm
term code: accessibility
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Profitability
type: DefinedTerm
term code: profitability
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Investment Services
type: DefinedTerm
term code: investment-services
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Pricing
type: DefinedTerm
term code: pricing
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Fees
type: DefinedTerm
term code: fees
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Lending
type: DefinedTerm
term code: lending
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Savings Rates
type: DefinedTerm
term code: savings-rates
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Investment Costs
type: DefinedTerm
term code: investment-costs
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Investment Options
type: DefinedTerm
term code: investment-options
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Digital Experience
type: DefinedTerm
term code: digital-experience
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Scale
type: DefinedTerm
term code: scale
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Financial Scale
type: DefinedTerm
term code: financial-scale
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Reputation
type: DefinedTerm
term code: reputation
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Regulatory Standing
type: DefinedTerm
term code: regulatory-standing
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Interest Rates
type: DefinedTerm
term code: interest-rates
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Deposit Rates
type: DefinedTerm
term code: deposit-rates
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Fees & Costs
type: DefinedTerm
term code: fees-&-costs
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

User Experience
type: DefinedTerm
term code: user-experience
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Size & Scale
type: DefinedTerm
term code: size-&-scale
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Access & Convenience
type: DefinedTerm
term code: access-&-convenience
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Customer Experience
type: DefinedTerm
term code: customer-experience
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Market Position
type: DefinedTerm
term code: market-position
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Savings Products
type: DefinedTerm
term code: savings-products
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Services
type: DefinedTerm
term code: services
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Savings & Interest
type: DefinedTerm
term code: savings-&-interest
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Lending Products
type: DefinedTerm
term code: lending-products
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Company Scale
type: DefinedTerm
term code: company-scale
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Features
type: DefinedTerm
term code: features
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Rates & Returns
type: DefinedTerm
term code: rates-&-returns
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Earnings
type: DefinedTerm
term code: earnings
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Product Variety
type: DefinedTerm
term code: product-variety
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Deposit Products
type: DefinedTerm
term code: deposit-products
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Customer Service
type: DefinedTerm
term code: customer-service
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Product Range
type: DefinedTerm
term code: product-range
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Checking Products
type: DefinedTerm
term code: checking-products
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

CD Products
type: DefinedTerm
term code: cd-products
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Products
type: DefinedTerm
term code: products
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Security
type: DefinedTerm
term code: security
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

Checking Features
type: DefinedTerm
term code: checking-features
in defined term set: Bank of America vs Ally Bank — Attribute Category Vocabulary

faq
type: FAQPage
language: en-US
is accessible for free: true
conditions of access: Free
date modified: 2026-07-08T07:40:19.395Z
author: A Versus B
publisher: A Versus B
is part of: bank-of-america-vs-ally-bank)
main entity: Why is Ally Bank's savings rate so much higher than Bank of America?
  type: Question
  accepted answer: Answer
    text: Ally Bank eliminates costs associated with physical branches (4,300+ locations cost BOA billions annually in real estate, staff, and overhead). These savings are passed directly to customers via higher deposit rates. Bank of America prioritizes profitability and shareholder returns over deposit rates. Ally can offer 4.25% APY because it operates purely digitally, reducing operational expenses to approximately 30% of traditional banks.
    language: en-US
main entity: Can I deposit cash at Ally Bank?
  type: Question
  accepted answer: Answer
    text: Ally Bank does not accept cash deposits directly. However, customers can deposit checks via mobile app (48-hour processing) or transfer funds from other banks. For cash deposits, you must withdraw from another bank or use a third-party service. This is a trade-off for Ally's lower fees and higher rates.
    language: en-US
main entity: Does Bank of America have better customer service than Ally?
  type: Question
  accepted answer: Answer
    text: No. According to JD Power's 2024 U.S. Retail Banking Satisfaction Study, Ally Bank scored 799/1000 vs Bank of America's 751/1000 (48-point advantage). Ally's 24/7 phone support and faster digital issue resolution contributed to higher satisfaction despite lacking branch service. BOA ranked 6th among major banks; Ally ranked 2nd.
    language: en-US
main entity: Which bank is safer for my deposits?
  type: Question
  accepted answer: Answer
    text: Both are equally safe. Bank of America and Ally Bank are both FDIC-insured institutions protecting deposits up to $250,000 per depositor, per account category. Ally Bank is a subsidiary of GMAC Financial Services and is FDIC-insured. Size does not indicate safety; regulatory protection is identical.
    language: en-US
main entity: Can I get a mortgage from both banks?
  type: Question
  accepted answer: Answer
    text: Bank of America offers comprehensive mortgage services through local branches and relationship managers with flexible terms. Ally Bank offers mortgages entirely online with competitive rates (average 6.2% for 30-year fixed in 2024) but limited customization. BOA is better for complex scenarios; Ally suits straightforward applications seeking transparent, competitive pricing.
    language: en-US

How to Choose Between Bank of America and Ally Bank
type: HowTo
description: Bank of America is a traditional full-service bank with 4,300+ physical branches and comprehensive financial services, while Ally Bank is a digital-only bank offering higher savings rates (4.25% APY) and lower fees with no physical locations. BOA serves customers needing in-person banking and wealth management; Ally targets rate-conscious savers and borrowers willing to bank entirely online.
language: en-US
total time: PT3M
step: Consider: Physical Branches
step: Consider: High-Yield Savings APY
step: Consider: Monthly Maintenance Fee
step: Consider: Total Assets
step: Consider: ATM Network Access
step: Consider: Customer Satisfaction Score (JD Power 2024)
step: Consider: Overdraft Fee
tool: A Versus B Comparison Guide
tip: HowToTip
  text: Choose Bank of America if you value in-person support, need comprehensive wealth management services, require business banking solutions, or prefer a relationship banker for complex financial planning. Choose Ally Bank if you prioritize the highest savings rates, want to eliminate monthly fees, are comfortable with digital-only banking, and seek transparent pricing without hidden charges or overdraft fees.

Consider: Physical Branches
type: HowToStep
position: 1
text: Physical Branches: Bank of America has 4,300+ locations, while Ally Bank has 0 (online-only).

Consider: High-Yield Savings APY
type: HowToStep
position: 2
text: High-Yield Savings APY: Bank of America has 0.01% APY, while Ally Bank has 4.25% APY.

Consider: Monthly Maintenance Fee
type: HowToStep
position: 3
text: Monthly Maintenance Fee: Bank of America has $12 (waivable with $500+ direct deposit), while Ally Bank has $0.

Consider: Total Assets
type: HowToStep
position: 4
text: Total Assets: Bank of America has $2.95 trillion USD, while Ally Bank has $15 billion USD.

Consider: ATM Network Access
type: HowToStep
position: 5
text: ATM Network Access: Bank of America has 64,000+ Surcharge-free ATMs (includes Allpoint network), while Ally Bank has 55,000+ Surcharge-free ATMs (Allpoint network only).

Consider: Customer Satisfaction Score (JD Power 2024)
type: HowToStep
position: 6
text: Customer Satisfaction Score (JD Power 2024): Bank of America has 751/1000, while Ally Bank has 799/1000.

Consider: Overdraft Fee
type: HowToStep
position: 7
text: Overdraft Fee: Bank of America has $35 per occurrence, while Ally Bank has $0 (no overdraft allowed).

claimreview
type: ClaimReview
is accessible for free: true
conditions of access: Free
claim reviewed: Bank of America vs Ally Bank
review body: Bank of America is a traditional full-service bank with 4,300+ physical branches and comprehensive financial services, while Ally Bank is a digital-only bank offering higher savings rates (4.25% APY) and lower fees with no physical locations. BOA serves customers needing in-person banking and wealth management; Ally targets rate-conscious savers and borrowers willing to bank entirely online.
review rating: Rating
  rating: 5
  worst rating: 1
  best rating: 5
  alternate name: Verified Comparison
author: A Versus B
item reviewed: Bank of America vs Ally Bank

Customer Satisfaction Score
type: PropertyValue
value: Bank of America: 68/100 | Ally Bank: 4.6/5 (J.D. Power 2024)
value reference: Bank of America

Mobile Banking App Rating (iOS)
type: PropertyValue
value: Bank of America: 4.1/5 stars | Ally Bank: N/A

Mortgage Market Share
type: PropertyValue
value: Bank of America: 6.8% | Ally Bank: N/A

Credit Rating (S&P Global)
type: PropertyValue
value: Bank of America: AA- | Ally Bank: N/A

Checking Account Monthly Fee
type: PropertyValue
value: Bank of America: $12 (waivable) | Ally Bank: N/A

High-Yield Savings APY
type: PropertyValue
value: Bank of America: 0.01% | Ally Bank: 4.20%
value reference: Ally Bank

Credit Card Approval Rate
type: PropertyValue
value: Bank of America: ~50% | Ally Bank: N/A

Investment/Brokerage Platform
type: PropertyValue
value: Bank of America: Merrill Edge + full advisory | Ally Bank: N/A

Auto Loan APR Range
type: PropertyValue
value: Bank of America: 5.24% - 9.99% | Ally Bank: N/A

Customer Satisfaction Score (J.D. Power 2025)
type: PropertyValue
value: Bank of America: 759 | Ally Bank: N/A

High-Yield Savings Account APY
type: PropertyValue
value: Bank of America: 0.01% | Ally Bank: 4.25%
value reference: Ally Bank

Monthly Maintenance Fee
type: PropertyValue
value: Bank of America: $12 (waivable) | Ally Bank: $0
value reference: Ally Bank

Overdraft Fee per Occurrence
type: PropertyValue
value: Bank of America: $35 | Ally Bank: $0 (no overdraft)
value reference: Ally Bank

Physical Branch Locations
type: PropertyValue
value: Bank of America: 4,300+ | Ally Bank: 0
value reference: Bank of America

Surcharge-Free ATM Network
type: PropertyValue
value: Bank of America: 64,000+ | Ally Bank: 55,000+
value reference: Bank of America

Customer Satisfaction Score (JD Power 2024)
type: PropertyValue
value: Bank of America: 751 | Ally Bank: 799
value reference: Ally Bank

Auto Loan APR (Average)
type: PropertyValue
value: Bank of America: 5.89% | Ally Bank: 5.24%
value reference: Ally Bank

Mobile App Rating
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 4.6/5

Monthly Maintenance Fee
type: PropertyValue
value: Bank of America: N/A | Ally Bank: $0

Total Assets Under Management
type: PropertyValue
value: Bank of America: N/A | Ally Bank: $197.3B

Banking Service Breadth
type: PropertyValue
value: Bank of America: N/A | Ally Bank: Checking, savings, auto financing, investments, CDs

Certificate of Deposit (CD) APY
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 4.55% (1-year average)

Minimum Initial Deposit
type: PropertyValue
value: Bank of America: N/A | Ally Bank: $0

Customer Satisfaction Rate
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 88%

High-Yield Savings APY
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 4.10%

Minimum Balance Required
type: PropertyValue
value: Bank of America: N/A | Ally Bank: $0

Interest on $10,000 Savings (Annual)
type: PropertyValue
value: Bank of America: N/A | Ally Bank: $360 (at 3.60% APY)

Monthly Account Maintenance Fee
type: PropertyValue
value: Bank of America: N/A | Ally Bank: $0

Credit Card Products Available
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 0

Money Market Account APY
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 4.20%

Auto Loan APR Range (Average)
type: PropertyValue
value: Bank of America: N/A | Ally Bank: Not offered

Customer Service Rating
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 4.1/5

Minimum Initial Deposit
type: PropertyValue
value: Bank of America: N/A | Ally Bank: $0

Mortgage Lending Availability
type: PropertyValue
value: Bank of America: N/A | Ally Bank: Not offered

Checking Account APY
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 0.10% APY

JD Power Customer Satisfaction Rating
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 863

Personal Loan Maximum Amount
type: PropertyValue
value: Bank of America: N/A | Ally Bank: Not offered

1-Year CD Rate
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 4.75%

Personal Loan APR (Best Rate)
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 6.99%

Minimum Balance Requirement
type: PropertyValue
value: Bank of America: N/A | Ally Bank: $0

Monthly Maintenance Fees
type: PropertyValue
value: Bank of America: N/A | Ally Bank: $0

Personal Loan Origination Fee
type: PropertyValue
value: Bank of America: N/A | Ally Bank: None

Customer Service Rating (Trustpilot)
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 4.7/5

Product Categories Offered
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 7 (savings, checking, CDs, money market, IRAs, auto loans, mortgages)

Interest Checking Account APY
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 0.10%

12-Month CD APY
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 4.35%

60-Month CD APY
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 4.25%

Personal Loan APR Floor
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 5.99%

Personal Loan APR Ceiling
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 19.99%

Credit Card Products
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 0 options

Personal Loan Maximum
type: PropertyValue
value: Bank of America: N/A | Ally Bank: Not available

Average Phone Support Wait Time
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 2 minutes

Checking Account Rate
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 0.10%

5-Year CD Rate
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 4.35%

Minimum CD Deposit
type: PropertyValue
value: Bank of America: N/A | Ally Bank: $0

FDIC Insurance Coverage
type: PropertyValue
value: Bank of America: N/A | Ally Bank: $250,000

CD Term Options Available
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 7 options

12-Month CD Rate
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 4.30%

Debit Card Cashback
type: PropertyValue
value: Bank of America: N/A | Ally Bank: 0%

Monthly Savings Fee
type: PropertyValue
value: Bank of America: N/A | Ally Bank: $0

Minimum Opening Deposit
type: PropertyValue
value: Bank of America: N/A | Ally Bank: $0

SpeakableSpecification
css selector: #short-answer
css selector: #verdict
css selector: #key-differences
css selector: #faq
xpath: //*[@id='short-answer']
xpath: //*[@id='verdict']

Bank of America — Wikipedia
type: CreativeWork

Ally Bank — Wikipedia
type: CreativeWork

Compare Bank of America vs Ally Bank
type: Action
additional type: CompareAction
target: https://www.aversusb.net/compare/bank-of-america-vs-ally-bank)
object: Bank of America
object: Ally Bank

Monthly Maintenance Fee
type: PropertyValue
value reference: Fees

Overdraft Fee per Occurrence
type: PropertyValue
value reference: Fees

Physical Branch Locations
type: PropertyValue
value reference: Accessibility

Surcharge-Free ATM Network
type: PropertyValue
value reference: Accessibility

Customer Satisfaction Score (JD Power 2024)
type: PropertyValue
value reference: Customer Experience

Auto Loan APR (Average)
type: PropertyValue
value reference: Lending Products

Mobile App Rating
type: PropertyValue
value reference: User Experience

Monthly Maintenance Fee
type: PropertyValue
value reference: Fees

Total Assets Under Management
type: PropertyValue
value reference: Company Scale

Banking Service Breadth
type: PropertyValue
value reference: Features

Certificate of Deposit (CD) APY
type: PropertyValue
value reference: Rates & Returns

Minimum Initial Deposit
type: PropertyValue
value reference: Account Requirements

Customer Satisfaction Rate
type: PropertyValue
value reference: Customer Experience

High-Yield Savings APY
type: PropertyValue
value reference: Rates & Returns

Minimum Balance Required
type: PropertyValue
value reference: Account Requirements

Interest on $10,000 Savings (Annual)
type: PropertyValue
value reference: Earnings

Monthly Account Maintenance Fee
type: PropertyValue
value reference: Fees

Credit Card Products Available
type: PropertyValue
value reference: Product Variety

Money Market Account APY
type: PropertyValue
value reference: Savings Products

Auto Loan APR Range (Average)
type: PropertyValue
value reference: Lending Products

Customer Service Rating
type: PropertyValue
value reference: Service Quality

Minimum Initial Deposit
type: PropertyValue
value reference: Account Requirements

Mortgage Lending Availability
type: PropertyValue
value reference: Lending Products

Checking Account APY
type: PropertyValue
value reference: Deposit Products

JD Power Customer Satisfaction Rating
type: PropertyValue
value reference: Customer Service

Personal Loan Maximum Amount
type: PropertyValue
value reference: Lending Products

1-Year CD Rate
type: PropertyValue
value reference: Savings Products

Personal Loan APR (Best Rate)
type: PropertyValue
value reference: Lending Products

Minimum Balance Requirement
type: PropertyValue
value reference: Account Requirements

Monthly Maintenance Fees
type: PropertyValue
value reference: Fees

Personal Loan Origination Fee
type: PropertyValue
value reference: Lending Products

Customer Service Rating (Trustpilot)
type: PropertyValue
value reference: Customer Experience

Product Categories Offered
type: PropertyValue
value reference: Product Range

Interest Checking Account APY
type: PropertyValue
value reference: Checking Products

12-Month CD APY
type: PropertyValue
value reference: CD Products

60-Month CD APY
type: PropertyValue
value reference: CD Products

Personal Loan APR Floor
type: PropertyValue
value reference: Lending Products

Personal Loan APR Ceiling
type: PropertyValue
value reference: Lending Products

Credit Card Products
type: PropertyValue
value reference: Products

Personal Loan Maximum
type: PropertyValue
value reference: Lending Products

Average Phone Support Wait Time
type: PropertyValue
value reference: Customer Service

Checking Account Rate
type: PropertyValue
value reference: Earnings

5-Year CD Rate
type: PropertyValue
value reference: Earnings

Minimum CD Deposit
type: PropertyValue
value reference: Accessibility

FDIC Insurance Coverage
type: PropertyValue
value reference: Security

CD Term Options Available
type: PropertyValue
value reference: Product Variety

12-Month CD Rate
type: PropertyValue
value reference: Savings Products

Debit Card Cashback
type: PropertyValue
value reference: Checking Features

Monthly Savings Fee
type: PropertyValue
value reference: Fees

Minimum Opening Deposit
type: PropertyValue
value reference: Account Requirements