Ally vs Marcus vs Discover -- my experience switching

I've now used all three of these (Ally, Marcus, Discover) for at least 6 months each so figured I'd share my experience for anyone deciding between them.

Ally Bank
Used from March 2025 to present. This is my current main HYSA.
- APY: 4.00% right now
- App: Really good. Clean interface, easy to use. The buckets feature is a game changer for me.
- Transfers: 1-3 business days to external banks. Same-day between Ally accounts.
- Customer service: Called twice, got a human within 5 minutes both times. No complaints.
- Downsides: No physical branches obviously. Rate has dropped a little from where it was.

Marcus by Goldman Sachs
Used from Sept 2024 to March 2025.
- APY: 4.10% currently (highest of the three)
- App: It works but it's... not great. Feels like it was designed by committee. Basic stuff is fine but anything beyond checking your balance is more clicks than it should be.
- Transfers: Similar to Ally, 1-3 business days.
- Customer service: Never had to call so can't comment.
- Downsides: No checking account, so you can't really use it as a primary bank. Just a savings silo.

Discover
Used from Jan 2024 to Aug 2024.
- APY: 3.90% right now
- App: Middle of the road. Better than Marcus, not as good as Ally.
- Transfers: Bit slower in my experience, 2-4 business days.
- Customer service: Fine. Nothing memorable.
- Downsides: Rate is the lowest of the three. They also have a checking account and a credit card so theres something to be said for having everything in one place if you're into that.

My ranking: Ally > Marcus > Discover

Ally wins on overall experience even though Marcus has the slightly higher rate. The 0.10% difference is irrelevant for most people's savings amounts.

Good writeup. Basically matches my experience. I'd add that Wealthfront deserves a mention in this tier -- 4.00% APY and their cash account is insured up to $8M through partner banks which is nice if you have a lot of cash (though if you do you probably shouldn't be keeping it all in savings but thats another thread).

The buckets thing at Ally is genuinely useful. I know some people think its just a gimmick but being able to mentally earmark portions of your savings without opening multiple accounts is nice.

I use Marcus and the app is fine. I don't understand why everyone complains about it. You open the app, you see your balance, you can transfer money. What else do you need it to do? It's a savings account not a video game.

That said I only keep my emergency fund there (~$20k). Everything else is invested. The obsession with HYSA rates on this forum sometimes drives me nuts. You're all optimizing the least important part of your financial picture.

+1 for ally. the buckets feature is great.

Nice comparison jenny. I've been with Ally for about 2 years and agree with basically everything you said. One small correction though - I think Discover's current rate is actually 3.90% not what it was when you used them. They bumped it a couple months ago.

Also fwiw Ally's customer service has gone slightly downhill in my experience. Last time I called (November) the wait was more like 15 mins. Still got a real person though which is more than you can say for a lot of banks.

For people reading this thread who are brand new to HYSAs -- honestly just pick Ally or Marcus and stop researching. The biggest mistake is spending 3 weeks deciding when your money could have been earning interest the whole time.

For reference, here's how the rates on these three have moved over the past 6 months:

Jul 25 Aug 25 Sep 25 Oct 25 Nov 25 Dec 25 Jan 26
Ally 4.20% 4.20% 4.10% 4.10% 4.00% 4.00% 4.00%
Marcus 4.15% 4.15% 4.15% 4.10% 4.10% 4.10% 4.10%
Discov 4.00% 4.00% 3.95% 3.95% 3.90% 3.90% 3.90%

All trending down slightly as Fed cuts rates. Marcus has been the most stable. Ally dropped more aggressively. Discover has been consistently the lowest of the three.

At this trajectory I'd guess we'll see 3.75-4.00% across the board by mid-2026 depending on what the Fed does.