No monthly fees· #1
Open Account →Ally Financial
Ally Bank
High-yield savings with zero fees for the whole family
Ally Bank is the best home base for family finances. The 4.20% savings rate on idle cash, zero-fee structure, and excellent mobile tools make it the default recommendation for families building their financial foundation. Pair it with Greenlight for kids' spending.
✓ Pros
- 4.20% APY on savings — 10x the national average
- Zero monthly fees and no minimums on any account
- Excellent mobile app with buckets feature for savings goals
✕ Cons
- Online only — no physical branch locations
- No native kids' banking features
Scores
Overall
9.4
Safety
9.5
Value
9.8
Ease
9.3
Quality
9.3
Specifications
savings A P Y4.20%
monthly Fee$0
minimum Balance$0
atm ReimbursementUp to $10/month
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