Ally Bank Online Savings Account FAQThis seems like an odd answer. I know a few things about personal finance, and it would never occur to me to list this as the first (and only!) distinction between a bank's savings and money market accounts.
What is the difference between an Online Savings Account and Money Market Account?
The main difference is in how you access your money. A money market account gives you more access because you can be issued a Visa Debit Card and checks for these accounts. An online savings account does not support the use of checks and does not come with a debit card.
This also seems like a very odd policy. Why wouldn't Ally want me to have a checkbook for my savings account?
Is this one of those eminently-foreseeable-but-"unintended" consequences of Dodd-Frank?