Varo Bank vs Ally Bank
 | ||
| Learn More | Learn More | |
Varo Bank | Ally Bank | |
|---|---|---|
Varo Bank Account - | Online Savings Account - 3.40% APY - | |
Benefits and Features | ||
| Savings | 2.50% APY on all balances. Opportunity to earn 5.00% APY if your daily savings balance does not exceed $5,000 AND you make at least 5 Varo debit card purchases per month AND receive at least $1,000 in direct deposits in either the Varo Bank Account or Savings Account. | |
| CD | 3.00% to 3.90% APY. Terms of 3 months to 5 years. 12-month CD APY of 3.85% | |
| Checking | No monthly service fee; no minimum balance; no overdraft fees | 0.10% APY for daily balances less than $15,000. 0.25% APY for daily balances over $15,000 |
| Monthly Fee | ||
| Money Market | ||
| Minimum Deposit to Open | ||
| Mobile App | ||
| ATMs | over 40,000 fee-free AllPoint ATMs | 75,000+ no-fee Allpoint and MoneyPass ATMs |
| Customer Service | Mon-Fri 8am - 9pm (ET) and Sat-Sun 11am to 7pm (ET) | |
| Locations | ||
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Varo Bank: Pricing information from published website as of 06/21/2025. Ally Bank: Pricing information from published website as of 10/10/2025. | ||
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Which Bank Account is Right for You?
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