Looking for an online checking account? Two of your candidates might be Ally Bank and ING Direct. Both are leaders in the online banking world, and both offer a pretty decent checking account. But which is best?
The truth is that you won't really go wrong with either. They both pay a competitive interest rate, and they offer all the bells and whistles you'd want. If one bank is missing something, it's sure to catch up soon. Nevertheless, there are a few minor differences that might be very important to you. For example, ING Direct offers an overdraft line of credit (which is nice, compared to Ally Bank's overdraft policy), but ING Direct doesn't let you link to as many accounts as Ally does.
For even more details and analysis, see Ken Tumin's thorough review of the differences between ING Direct and Ally Bank at DepositAccounts.com.
Further reading:
- What is the FDIC?
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