Ally Bank vs American Express
High-Yield Savings Accounts Comparison
Last Updated: June 20, 2025
Summary of Ally Bank vs. American Express
As of June 20, 2025 Ally Bank offers an APY of 3.50% for its Savings Account account, compared to American Express's 3.60% APY for its High Yield Savings Account account.
American Express yields $10 more than Ally Bank on a $10,000 balance after one year. Ally Bank pays $350, while American Express pays $360 - an APY advantage for American Express.
Ally Bank
Strengths
- Ally Bank has a higher App Store rating of 4.7 compared to American Express's 4.9.
- Ally Bank offers an A+ BBB rating, indicating better trustworthiness than American Express's F rating.
- Ally Bank's current APY is 3.50%, which is down from 3.60% last month.
Potential Drawbacks
- Ally Bank's APY of 3.50% is lower than American Express's APY of 3.60%.
- Ally Bank has no physical branches, which may limit customer service options.
- Ally Bank's Google Play rating is 4.4, lower than American Express's 3.8.
American Express
Strengths
- American Express offers a higher APY of 3.60%, stable over the past month.
- American Express has a higher App Store rating of 4.9 than Ally Bank's 4.7.
- American Express has no maintenance fees, similar to Ally Bank.
Potential Drawbacks
- American Express has an F BBB rating and is not BBB accredited.
- American Express's Google Play rating is 3.8, lower than Ally Bank's 4.4.
- American Express has no physical branches, which may limit customer service options.
Summary: Ally Bank offers a lower APY of 3.50%, down from 3.60%, and has an A+ BBB rating, while American Express provides a stable APY of 3.60% but has an F BBB rating. Both banks are online-only with no maintenance fees, yet American Express has a higher App Store rating. However, Ally Bank's Google Play rating is superior. Both lack physical branches, affecting customer service.
Compare Ally Bank's vs American Express' Savings Accounts
| Ally Bank | American Express | ||
|---|---|---|---|
| Product | Savings Account | vs | High Yield Savings Account |
| APY | 3.50% (as of 6/20/2025) | 3.60% (as of 6/20/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| Visit Bank | Savings Account | High Yield Savings Account | |
| App Store Rating | 4.7/5 | 4.9/5 | |
| Google Play Rating | 4.4/5 | 3.8/5 | |
| BBB Rating | A+ | F |
Comparative Historical APY Insights (Last 5 Months)
| Ally Bank | American Express | ||
|---|---|---|---|
| Product | Savings Account | vs | High Yield Savings Account |
| Latest APY | 3.50 % | 3.60 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -4.7 | -4.3 | |
| Rate Changes / Mo | 0.62 | 0.41 | |
| Days Since Last Change | 3 | 44 | |
| High (-5 m) | 3.80 % | 3.80 % | |
| Low (-5 m) | 3.50 % | 3.60 % | |
| Draw-down from High | -7.9 % | -5.3 % | |
| Volatility (CV) | 0.020 | 0.018 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 5 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-5 m)
- Highest APY in the last 145 days.
- Low (-5 m)
- Lowest APY in the last 145 days.
- Draw-down from High
- How far today sits below the 5-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Calculate Savings Growth for Ally Bank vs American Express
All calculations are based on APY.
Ally Bank
APY: 3.50%
Total savings breakdown:
- Interest earned: $35 (3.38%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.62%)
Your total balance
$1,035.00
Effective APY: 3.50% (based on your deposit and contributions)
Total balance: $1,035
Earnings: $35
Bank DetailsAmerican Express
APY: 3.60%
Total savings breakdown:
- Interest earned: $36 (3.47%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.53%)
Your total balance
$1,036.00
Effective APY: 3.60% (based on your deposit and contributions)
Total balance: $1,036
Earnings: $36
Bank DetailsAfter 1 year Ally Bank would earn you $1 less than American Express.
More Comparisons
Compare Ally Bank's APY of 3.50% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Ally Bank vs Axos Bank | 4.66% | $0 |
| Ally Bank vs Bank of America | 0.01% | $100 |
| Ally Bank vs Barclays | 4.10% | $0 |
| Ally Bank vs Capital One | 3.60% | $0 |
| Ally Bank vs Chase Bank | 0.01% | $0 |
| Ally Bank vs Chime | 3.75% | $0 |
| Ally Bank vs CIT Bank | 4.00% | $100 |
| Ally Bank vs Discover Bank | 3.60% | $0 |
| Ally Bank vs Fitness Bank | 5.00% | $100 |
| Ally Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Ally Bank vs SoFi Bank | 3.80% | $0 |
| Ally Bank vs Synchrony Bank | 3.80% | $0 |
| Ally Bank vs Varo Bank | 5.00% | $0 |
Compare American Express' APY of 3.60% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| American Express vs Axos Bank | 4.66% | $0 |
| American Express vs Bank of America | 0.01% | $100 |
| American Express vs Barclays | 4.10% | $0 |
| American Express vs Capital One | 3.60% | $0 |
| American Express vs Chase Bank | 0.01% | $0 |
| American Express vs Chime | 3.75% | $0 |
| American Express vs CIT Bank | 4.00% | $100 |
| American Express vs Discover Bank | 3.60% | $0 |
| American Express vs Fitness Bank | 5.00% | $100 |
| American Express vs Marcus by Goldman Sachs | 3.65% | $0 |
| American Express vs SoFi Bank | 3.80% | $0 |
| American Express vs Synchrony Bank | 3.80% | $0 |
| American Express vs Varo Bank | 5.00% | $0 |