Ally Bank vs American Express
High-Yield Savings Accounts Comparison
Last Updated: July 15, 2025
Summary of Ally Bank vs. American Express
As of July 15, 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 APY of 3.50% compared to American Express.
- Ally Bank has an A+ BBB rating, indicating better trustworthiness.
- Ally Bank's App Store rating is 4.7, higher than American Express's 4.9.
Potential Drawbacks
- Ally Bank's APY decreased from 3.60% to 3.50% in the last 30 days.
- Ally Bank has no physical branches.
American Express
Strengths
- American Express offers a competitive APY of 3.60%, unchanged over 30 days.
- American Express has a higher App Store rating of 4.9.
Potential Drawbacks
- American Express has an F BBB rating and is not accredited.
- American Express's Google Play rating is lower at 3.8.
Summary: Ally Bank offers a slightly lower APY of 3.50% with an A+ BBB rating, while American Express provides a 3.60% APY but has an F BBB rating. Ally Bank's App Store rating is 4.7, compared to American Express's 4.9. Both banks operate online only, lacking physical branches, but Ally Bank's APY has recently decreased, while American Express's remains stable.
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 7/15/2025) | 3.60% (as of 7/15/2025) | |
| 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 6 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) | -4.9 | -3.9 | |
| Rate Changes / Mo | 0.53 | 0.36 | |
| Days Since Last Change | 28 | 69 | |
| High (-6 m) | 3.80 % | 3.80 % | |
| Low (-6 m) | 3.50 % | 3.60 % | |
| Draw-down from High | -7.9 % | -5.3 % | |
| Volatility (CV) | 0.024 | 0.019 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 6 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 (-6 m)
- Highest APY in the last 169 days.
- Low (-6 m)
- Lowest APY in the last 169 days.
- Draw-down from High
- How far today sits below the 6-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 | 3.50% | $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 | 3.50% | $0 |
| Ally Bank vs Fitness Bank | 5.00% | $100 |
| Ally Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Ally Bank vs Presidential Bank | 4.50% | $5,000 |
| Ally Bank vs SoFi Bank | 3.80% | $0 |
| Ally Bank vs Synchrony Bank | 3.80% | $0 |
| Ally Bank vs Varo Bank | 5.00% | $0 |
| Ally Bank vs Wells Fargo | 2.51% | $25 |
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 | 3.50% | $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 | 3.50% | $0 |
| American Express vs Fitness Bank | 5.00% | $100 |
| American Express vs Marcus by Goldman Sachs | 3.65% | $0 |
| American Express vs Presidential Bank | 4.50% | $5,000 |
| American Express vs SoFi Bank | 3.80% | $0 |
| American Express vs Synchrony Bank | 3.80% | $0 |
| American Express vs Varo Bank | 5.00% | $0 |
| American Express vs Wells Fargo | 2.51% | $25 |