Wells Fargo is a traditional full-service bank with 8,000+ physical branches and investment services, while Ally Bank is a digital-first online bank with no physical locations but offers higher savings rates (4.20% APY) and lower fees. Choose based on whether you prioritize in-person banking or competitive rates.
Wells Fargo vs Ally Bank — Side-by-side comparison on A Versus B
Traditional full-service bank with 8,000+ U.S. branches and comprehensive financial services
Digital-first online bank offering competitive savings rates and no monthly fees
Physical Branches. Savings Account APY. Monthly Maintenance Fee. ATM Network. Investment Services. Mortgage Origination Volume. Customer Satisfaction (J.D. Power)
Choose Wells Fargo if you need in-person banking, mortgage origination, investment services, and a comprehensive financial institution to manage all banking needs. Choose Ally Bank if you prioritize competitive savings rates, zero monthly fees, 24/7 customer service, and are comfortable with digital-only banking.
Wells Fargo & Company: 0.01% | Ally Bank: 4.20%
Wells Fargo & Company: 4,200 | Ally Bank: N/A
Wells Fargo & Company: $0-10 (with conditions) | Ally Bank: N/A
Wells Fargo & Company: 4.35% APY | Ally Bank: N/A
Wells Fargo & Company: 630 (2024) | Ally Bank: 852 (2024)
Wells Fargo & Company: $15.00 | Ally Bank: N/A
Wells Fargo & Company: 4.2 | Ally Bank: 4.8 (95K reviews)
Wells Fargo & Company: 45+ | Ally Bank: N/A
Wells Fargo & Company: 3.8-4.5% | Ally Bank: N/A
Wells Fargo & Company: 30,000+ (Wells Fargo + Allpoint) | Ally Bank: 30,000+ (Allpoint network)
Wells Fargo & Company: 661 | Ally Bank: N/A
Mobile App Rating (Apple App Store 2025)
Wells Fargo & Company: 4.2 stars | Ally Bank: N/A
Wells Fargo & Company: 254,000 | Ally Bank: N/A
Wells Fargo & Company: $1.95 trillion | Ally Bank: N/A
Wells Fargo & Company: 4,700 branches | Ally Bank: N/A
Wells Fargo & Company: $7.50 average | Ally Bank: N/A
Wells Fargo & Company: 3.8/5 stars | Ally Bank: N/A
Wells Fargo & Company: 4.2% | Ally Bank: N/A
Wells Fargo & Company: A+ | Ally Bank: N/A
Monthly Maintenance Fee (Standard Checking)
Wells Fargo & Company: $10/month (waivable with $500 balance) | Ally Bank: $0 (no fee ever)
Wells Fargo & Company: 8,000+ branches | Ally Bank: 0 branches
Wells Fargo & Company: $1,900 billion (Q4 2023) | Ally Bank: $181 billion (2023)
Wells Fargo & Company: 8-12 minutes average | Ally Bank: 1-2 minutes average
Wells Fargo & Company: $35 per overdraft | Ally Bank: $0 (no overdraft fees)
Wells Fargo & Company: N/A | Ally Bank: 4.6/5
Wells Fargo & Company: N/A | Ally Bank: $0
Wells Fargo & Company: N/A | Ally Bank: $197.3B
Wells Fargo & Company: N/A | Ally Bank: Checking, savings, auto financing, investments, CDs
Wells Fargo & Company: N/A | Ally Bank: 4.55% (1-year average)
Wells Fargo & Company: N/A | Ally Bank: 88%
Wells Fargo & Company: N/A | Ally Bank: 4.10%
Wells Fargo & Company: N/A | Ally Bank: 55,000+
Wells Fargo & Company: N/A | Ally Bank: 4.7/5
Wells Fargo & Company: N/A | Ally Bank: $360 (at 3.60% APY)
Wells Fargo & Company: N/A | Ally Bank: 0
Wells Fargo & Company: N/A | Ally Bank: 4.20%
Wells Fargo & Company: N/A | Ally Bank: Not offered
Wells Fargo & Company: N/A | Ally Bank: 4.1/5
Wells Fargo & Company: N/A | Ally Bank: 0.10% APY
Wells Fargo & Company: N/A | Ally Bank: 863
Wells Fargo & Company: N/A | Ally Bank: 5.99%
Wells Fargo & Company: N/A | Ally Bank: 4.25%
Wells Fargo & Company: N/A | Ally Bank: 4.75%
Wells Fargo & Company: N/A | Ally Bank: 6.99%
Wells Fargo & Company: N/A | Ally Bank: None
Wells Fargo & Company: N/A | Ally Bank: 7 (savings, checking, CDs, money market, IRAs, auto loans, mortgages)
Wells Fargo & Company: N/A | Ally Bank: 0.10%
Wells Fargo & Company: N/A | Ally Bank: 4.35%
Wells Fargo & Company: N/A | Ally Bank: 19.99%
Wells Fargo & Company: N/A | Ally Bank: 4.50%
Wells Fargo & Company: N/A | Ally Bank: 0 options
Wells Fargo & Company: N/A | Ally Bank: Not available
Wells Fargo & Company: N/A | Ally Bank: 2 minutes
Wells Fargo & Company: N/A | Ally Bank: $0 (no overdraft)
Customer Satisfaction Score (JD Power 2024)
Wells Fargo & Company: N/A | Ally Bank: 799
Wells Fargo & Company: N/A | Ally Bank: 5.24%
Wells Fargo & Company: N/A | Ally Bank: $250,000
Wells Fargo & Company: N/A | Ally Bank: 7 options
Wells Fargo & Company: N/A | Ally Bank: 4.30%
Wells Fargo & Company: N/A | Ally Bank: 0%
Wells Fargo & Company: N/A | Ally Bank: $0 (no conditions)
Wells Fargo & Company: N/A | Ally Bank: 0 cards
Wells Fargo & Company: N/A | Ally Bank: $0B (not offered)
Wells Fargo & Company: N/A | Ally Bank: 24/7 phone + chat
How to choose between Wells Fargo & Company and Ally Bank
Compare Wells Fargo & Company vs Ally Bank
Wells Fargo vs Ally Bank — Structured Comparison Data
Machine-readable comparison dataset for Wells Fargo vs Ally Bank. Contains 87 attribute comparisons, 5 FAQ pairs.
Wells Fargo vs Ally Bank — Attribute Category Vocabulary
Taxonomy of attribute categories used to classify comparison data for Wells Fargo vs Ally Bank.
Does Ally Bank have physical locations where I can deposit cash?
No. Ally Bank is online-only with no physical branches. However, you can deposit checks via mobile check deposit, use mail deposits, or access 30,000+ Allpoint ATMs for withdrawals. Cash deposits must be made through third-party ATMs or partner locations.
Can I get a mortgage from Wells Fargo or Ally Bank?
Wells Fargo is a major mortgage originator with $378 billion in annual originations and offers direct mortgage lending. Ally Bank offers mortgages through partner lenders but does not originate mortgages directly. Wells Fargo provides more comprehensive mortgage support and faster approval processes.
Why is Ally Bank's savings rate so much higher than Wells Fargo's?
Ally Bank, as a digital-only bank, has significantly lower operating costs (no branches, limited physical infrastructure) and passes those savings to customers through higher interest rates. Wells Fargo maintains 8,000+ branches, which requires substantial overhead that is reflected in lower deposit rates.
Is my money safe at Ally Bank if it's online-only?
Yes. Ally Bank is FDIC-insured up to $250,000 per depositor, same as Wells Fargo. Ally is a subsidiary of BMRB Financial Corp and is fully regulated by the Federal Reserve and FDIC. Your deposits are equally protected regardless of online or physical banking.
Which bank is better for someone who needs investment services?
Wells Fargo is the clear choice for investment services. It offers brokerage accounts, mutual funds, stocks, bonds, and wealth management with dedicated advisors. Ally Bank does not offer any investment products; you would need to open a separate brokerage account elsewhere.
How to Choose Between Wells Fargo & Company and Ally Bank
Physical Branches: Wells Fargo & Company has 8,000+ locations, while Ally Bank has 0 locations (online-only).
Savings Account APY: Wells Fargo & Company has 0.01% - 4.60%, while Ally Bank has 4.20% - 4.50%.
Monthly Maintenance Fee: Wells Fargo & Company has $5-15 (waivable), while Ally Bank has $0 (no fee).
ATM Network: Wells Fargo & Company has Wells Fargo + Allpoint (30,000+ global), while Ally Bank has Allpoint (30,000+ global).
Investment Services: Wells Fargo & Company has Full-service: stocks, bonds, mutual funds, financial advisory, while Ally Bank has No investment services.
Mortgage Origination Volume: Wells Fargo & Company has $378 billion annually (2023), while Ally Bank has Mortgages available through partners only.
Consider: Customer Satisfaction (J.D. Power)
Customer Satisfaction (J.D. Power): Wells Fargo & Company has 630 score, while Ally Bank has 852 score.