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 BankAmerican Express
ProductSavings AccountvsHigh Yield Savings Account
APY
3.50% (as of 6/20/2025)3.60% (as of 6/20/2025)
Bundled Account
NoNo
FDIC-insured
YesYes
Online OnlyYesYes
Compound Frequency
DailyDaily
Minimum Deposit$0$0
Minimum Balance for APY$0$0
Maintenance Fee$0$0
Direct Deposit Required
NoNo
Visit BankSavings AccountHigh Yield Savings Account
App Store Rating4.7/54.9/5
Google Play Rating4.4/53.8/5
BBB RatingA+F

Comparative Historical APY Insights (Last 5 Months)

Ally BankAmerican Express
ProductSavings AccountvsHigh Yield Savings Account
Latest APY3.50 %3.60 %
TrendSidewaysSideways
Slope (bps/mo)-4.7-4.3
Rate Changes / Mo0.620.41
Days Since Last Change344
High (-5 m)3.80 %3.80 %
Low (-5 m)3.50 %3.60 %
Draw-down from High-7.9 %-5.3 %
Volatility (CV)0.0200.018
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 Details

American 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 Details

After 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
Compare American Express' APY of 3.60% with other banks