Ally Bank VS Langley Federal Credit Union

Which bank is better for you?

  • Financial Rates: 3.5 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 5.0 Star Icon
2.10%APY
Savings/MMA
Advertiser Disclosure
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • Competitive interest rates on accounts
  • No required opening amounts or fees
  • Good variety of accounts available
  • Ten-day Best Rate Guarantee

Cons:

  • Accounts have tiered interest rates
  • Limited ways to fund your accounts
  • Link external accounts to Ally accounts
  • Transfers can take days to fund
  • Financial Rates: 4.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 4.0 Star Icon
0.05%APY
Savings/MMA
Advertiser Disclosure
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • A wide variety of accounts available
  • Competitive interest rates
  • Low opening required amounts
  • Most accounts do not have fees

Cons:

  • Accounts have tiered interest rates
  • High opening amounts for promotional CDs
  • Must become a member first
  • Daily withdrawal limits
Ally Bank Review

Ally accounts offer competitive interest rates. The interest rates for the Ally savings account is 2.20% for all balances. The checking account earns 0.60% on balances over $15,000. The money market account and CDs also earn competitive rates.

Ally accounts do not have required opening amounts. You can open their accounts with any amount. There are no monthly fees for Ally accounts. They do not have set amounts required to keep in the account to avoid a monthly fee. The CDs have a fee if you withdraw money before the maturity date.

There are a good variety of personal accounts offered through Ally. These accounts include:

  • Savings and money market account
  • Interest checking account
  • High yield CD
  • Raise Your Rate CD
  • No Penalty CD
  • IRA CDs

When you open a CD with Ally, they offer a ten-day Best Rate Guarantee. For the first ten-days after opening your CD, Ally will watch the interest rates. If the rates increase during that time, the interest rate for your CD will increase. This guarantee is for new CDs as well as CD renewals.

Some Ally accounts have tiered interest rates. To earn the highest rates requires high account balances. The money market account requires $25,000 to earn the most competitive rates. The checking account requires $15,000.

There are limited ways to fund your Ally accounts. The easiest way to fund your account is through electronic transfers. Once your account is open, you can set up direct deposit with your employer. You can mail in a check or deposit a check through Ally eCheck Deposits. You cannot deposit cash into Ally accounts.

To make electronic transfers, Ally suggests linking an external account. You can then transfer money electronically between the linked account and Ally accounts. You can transfer money electronically between Ally accounts.

The standard time to transfer money from Ally to an external account is three business days. This time does not include weekends or holidays. If you need the money the next day, you must request the transfer before 7:30 p.m. Monday through Friday. Transfers between Ally accounts are immediate.

Read the full Ally Bank review.

Langley Federal Credit Union Review

Langley Federal Credit Union offers a wide variety of accounts. They have an MMA, savings accounts, youth accounts, and a holiday savings account. They offer four checking accounts and a variety of CD terms. The CD terms range from three months to five years. Langley also offers loans, credit cards, and business accounts.

The accounts offered through Langley have competitive interest rates. The rates are competitive with other online account rates. The CDs, money market account, and platinum checking account earn competitive rates. The Langley Saves account earns competitive rates for the first $1,000.

Most Langley accounts have low opening required amounts. The savings accounts each only require $5 to open. Only the Platinum checking account has a set amount required to open the account. That account requires $10,000 to open. The regular CDs require $1,000 to open. The promotional CDs require more. The MMA does not have an amount required to open the account.

Only the Langley Essential checking account has a monthly fee. This checking account is for those with bad or no credit. This account offers a debit card, online and mobile banking, and bill pay. The monthly fee is $5. The other Langley accounts do not have fees.

Some Langley accounts have tiered interest rates. The Platinum MMA requires a balance of $250,000 to earn the most competitive rate. Traditional money market accounts require $100,000 for the best rate. The Platinum checking account requires $10,000.

Langley offers promotional CDs with more competitive interest rates. Two of these terms have high opening required amounts. The 11-month CD requires $100,000 to earn interest and the 29-month CD requires $50,000. The other promotional CDs only require $1,000 to open, but they are for new deposits only.

To open accounts with Langley FCU, you must first become a member of the credit union. You are eligible for membership if you work for a specific company. Member of certain organizations or that attend certain schools are eligible. Family members of other members are eligible. You can also join an organization to become a member of Langley FCU.

Langley has a daily withdrawal limit. Members can withdraw up to $600 per day, per account, if your account has sufficient funds. There is also a $600 limit with point-of-sale transactions.

Read the full Langley Federal Credit Union review.

Sponsored Offers

Advertiser Disclosure
Capital One
Savings (Rate as of 10/2/2022)
APY 2.15%
Rate 2.15%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC It only takes about 5 minutes to open a fee-free account.
Next >
UFB Direct
Savings (Rate as of 10/2/2022)
APY 3.01%
Rate 2.85%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC Earn up to 2.85% APY* with no maintenance fees or service fees.
Next >
Quorum
Savings (Rate as of 10/2/2022)
APY 3.00%
Rate 2.96%
For APY $10,000
Monthly Fee $0.00
Checkbook No
Insured by NCUA No minimum balance to open the account. No monthly fees. Federally insured by the NCUA.
Next >
BrioDirect
Savings (Rate as of 10/2/2022)
APY 2.80%
Rate 2.80%
For APY $500
Monthly Fee $0.00
Checkbook No
Member FDIC A great rate & FDIC insurance, Convenient online & mobile banking, Easy to open
Next >
Bask Bank
Savings (Rate as of 10/2/2022)
APY 2.75%
Rate 2.71%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC 0 Min Balance. 0 Monthly Acct Fees. No Balance Cap to Earn APY.
Next >
CIT Bank
Savings (Rate as of 10/2/2022)
APY 2.70%
Rate 2.66%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC No Monthly Fees. No Minimum Deposit. Open in about 5 Minutes.
Next >
Valley Bank
Savings (Rate as of 10/2/2022)
APY 2.65%
Rate 2.62%
For APY $1
Monthly Fee $0.00
Checkbook No
Member FDIC Securely backed by our 90 year history, FDIC insured
Next >
LendingClub
Savings (Rate as of 10/2/2022)
APY 2.65%
Rate 2.65%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC Plus, no monthly fees and unlimited free external transfers
Next >
SoFi
Savings (Rate as of 10/2/2022)
APY 2.50%
Rate 2.50%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC No fees, earn high APY on all your checking and savings balances, plus up to $300 cash bonus with qualifying direct deposit
Next >
Citizens Access
Savings (Rate as of 10/2/2022)
APY 2.35%
Rate 2.32%
For APY $5,000
Monthly Fee $0.00
Checkbook No
Member FDIC No fee online savings account with a great rate.
Next >
Barclays
Savings (Rate as of 10/2/2022)
APY 2.25%
Rate 2.25%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC Savings accounts at 2.25% APY. A rate greater than 5x the national average.
Next >
Synchrony Bank
Savings (Rate as of 10/2/2022)
APY 2.25%
Rate 2.25%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC Savings Products with Competitive Rates and No Minimum Deposit
Next >
Sallie Mae
MMA (Rate as of 10/2/2022)
APY 2.25%
Rate 2.23%
For APY $0
Monthly Fee $0.00
Checkbook Yes
Member FDIC No minimum balance and no monthly maintenance fees
Next >
My Banking Direct, a service of NY Community Bank
Savings (Rate as of 10/2/2022)
APY 2.20%
Rate 2.18%
For APY $1
Monthly Fee $0.00
Checkbook No
Member FDIC Only $500.00 to open. No monthly or maintenance fees.
Next >
Live Oak Bank
Savings (Rate as of 10/2/2022)
APY 2.00%
Rate 1.98%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC No monthly maintenance fees or minimum balance requirements.
Next >