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In this video, I'll compare two very popular online banks, Ally bank and SoFi bank. Both offer a ton of features, including a HYSA or high-yield savings account... but which bank is the best one for you? I'll go over all their main features, the biggest differences, any cons, and tell you which might be the better fit for your needs. FYI: Right after this was recorded the Federal Reserve dropped the interest rates and now banks are responding. SoFi's interest rate is now 4.3% and Ally's is now 4% Still incredible compared to the big banks, but a little lower than I cover in the video. Rest is still relevant! Get $75 when you sign up for SoFi Checking & Saving: https://a.ndy.fyi/SoFi-Money Get $75 when you sign up for SoFi Invest: https://a.ndy.fyi/SoFi-Invest Get $100 when you sign up for the SoFi Credit Card: https://a.ndy.fyi/SoFi-CC Ally Bank: https://www.ally.com/ Ally bank vs Sofi bank Best HYSA in 2024 Ally savings account Sofi savings account DISCLOSURE: Some of the links on this page are affiliate links, this means that I may earn a commission if you click through and make a purchase and/or subscribe. Affiliate commissions are a great way to help fund and support the channel. I am not a financial advisor. The ideas presented in this video are for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make.