Ally Bank vs Wealthfront: Which is Better?

Wealthfront offers advanced planning tools to help provide a complete picture of your financial health and track your goal. They are an online bank with no human advisors, but they offer great rates  on saving accounts. Wealthfront simplifies long-term, low-cost investing with a diversified portfolio.

On the other hand, Ally Bank offers high interest on their Savings account. They also offers interest checking and multiple CD options, including No Penalty and Raise Your Rate CDs. Furthermore, there is no minimum deposits or service fees for any of their banking products.

There are no service fees for any products so be sure to take advantage of both a personal and business checking account.

	Wealthfront	Ally Bank
Locations	Online Only	Online Only
ATMs	None	Over 43,000 no-fee Allpoint ATMs
Savings	3/5	4/5
CD	–	–
Checking	–	3/5
Money Market	–	4/5
Customer Service	4/5	5/5
Mobile App	–	5/5
Pros	Minimal opening deposit & fees Advanced goal tracker Tax loss harvesting	CD options No account minimums Good customer service
Cons	No human advisors No fractional shares	Low Checking APY for lower balance customers
Bottom Line	Solid online bank with a great user-friendly website and customer service	Ally Bank is a full-service online bank with very competitive rates. Their banking products have no minimum balance requirements or service fees.

Ally Bank Promotions

Being an internet bank focused on offering industry-leading rates, savings, and investment products, Ally Bank is definitely your go-to financial institution. Through their vast array of products, you are able to find an account to fit your financial needs.

What to Open at Ally Bank

Keep your eye out on these great Ally Bank products:

• Ally Invest Trade Bonus: You can earn up to $3,500 bonus when you open a new Ally Invest Account. You must fund the account with a minimum of $10,000 to receive the bonus.

Wealthfront Promotions

Wealthfront is a robo-advisor that automatically invests and manages your portfolio for you. You simply fill out a form stating your goals and risk tolerance. The algorithm invests based on your answers.

There’s no human intervention. Because it’s automated, the fees are much lower than if you were to hire a financial advisor.

Wealthfront offers 3 main services:

• Robo advisement: The platform is focused on investing in ETFs (Exchange Traded Funds). It automatically adjusts your portfolio to stay in line with your investment goals.
• Financial planning: Wealthfront offers free software-based financial planning to help you plan for retirement and different life situations.
• Short-term cash management: Wealthfront offers a cash account with a high yield APY and FDIC insurance up to $1 million. That is up to 4x the coverage a standard bank offers because Wealthfront holds your cash account deposits at multiple FDIC insured banks. They also offer a unique service to robo-advisors that allows investors with $100,000 to borrow against their portfolios.

Brokerage Account Features

All Wealthfront Investment Accounts come with these features.

• FDIC insured up to $1 million: Your cash is FDIC insured through our partner banks for up to $1 million. That’s four times the insurance that the traditional bank provides.
• No market risk: Your cash is kept out of the markets, so you never have to worry about short-term volatility.
• Fast and easy setup: It takes just a couple minutes to open an account straight from your phone.
• Unlimited, free transfers: Move money in and out of your account as many times as you want. You can easily transfer your money directly to a Wealthfront taxable investment account.
• No fees: No advisory fees, no management fees, no surprises. Earn more and keep more.
• $1 minimum: It only takes $1 to open and there are no additional deposit requirements.

Conclusion

In conclusion, Ally Bank and Weatlthfront both offer fantastic saving rates and service and care for their customers. Wealthfront is good as a bare-bones investment account with a diverse portfolio. However, Ally Bank is one of the most reputable online banks in the industry.

For more variety of options, see our list of the best bank account bonuses & savings account offers.

Huntington Bank Bonuses & Promotions: $100, $400, $1,000 Checking Offers 2025

Chase Coupon Codes 2025 ($100, $200, $300, $400, $500, $700, $2000 Checking Bonuses)

Discover Bank Promotions: $150/$200 Savings Bonus, $360 Cashback Debit Bonus, Up to 4.10% APY for 2025

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