Simple and Ally both offer online banking solutions that come with several benefits. In terms of interest rates, Simple’s 0.30% APY for all balances in its high-yield checking outperforms Ally’s interest checking, which is currently 0.10% APY for all balances less than $15,000 and 0.25% APY for balances $15,000 and above (all interest rates as of Feb. 25, 2021). But if you're trying to save money, then you should know that Ally Bank’s online savings account offers 0.50% APY (as of Feb. 25, 2021) on all balances. Though not by much, that is a little higher than what Simple offers. Aside from interest rates, Ally also offers a wider variety of financial products that Simple does not. Whether this makes Ally better for you will depend on what you’re looking for in a bank and whether you want to earn your interest on a checking vs. a savings account.