Axos Bank vs Discover Bank
Axos Bank is a full-service online bank with excellent cashback and interest checking. How does it compare to Discover Bank? Read our comparison chart below.
Axos Bank offers a range of checking and savings products. Checking options includes a up-to 1% cashback account and rewards checking account with a higher interest rate. Savings options include savings accounts and CDs with higher-than-average rates. All accounts have no monthly service fees.
While Discover Bank offers some of the highest interest rates on the market. CDs go up to 10-year terms and have a minimum deposit of $2,500. There are no service fees.
Compare Axos Bank with Discover Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
Visit Site | Visit Site | |
Axos Bank | Discover Bank | |
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Rewards Checking - Up to 3.30% APY - | Online Savings Account - Earn 4.25% APY - | |
Benefits and Features | ||
Savings | 0.61% APY (balances under $25k); 0.25% APY ($25K-$100K); 0.15% APY ($100k and over) | |
CD | 0.20% APY. Terms of 3 months to 5 years. $1,000 minimum | 2.00% to 4.70% APY depending on terms. $2,500 minimum |
Checking | Rewards Checking: Up to 3.30% APY Cashback Checking: Up to 1% cashback | Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details |
Money Market | 4.00% APY under $100,000; 4.05% APY $100,000 or more. $2,500 minimum deposit. | |
Mobile App | ||
ATMs | Approximately 91,000 partner ATMs | |
Customer Service | ||
IRA CD | 12-month CD APY of 4.70%. 18-month CD APY of 4.40%. 24-month CD APY of 4.00%. 5-year CD APY of 3.75%. | |
Locations | ||
CreditDonkey® Reviews | ||
Savings | ||
CD | ||
Checking | ||
Money Market | ||
Mobile App | ||
ATMs | ||
Locations | ||
Customer Service | ||
Pros & Cons | Pros:
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Bottom Line | Full-service online bank with excellent cashback and interest checking... | Solid online bank with high APY rates and good customer service... |
Visit Site | Visit Site | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Axos Bank: Pricing information from published website as of 04/10/2024. Discover Bank: Pricing information and data points from published website as of 04/26/2024. |
Rewards Checking - Up to 3.30% APY
- Use the promo code AXOS300 when you apply for a Rewards Checking account by June 30th, 2024. Then have qualifying direct deposits to earn up to a $300 bonus!†
- Build your own APY with up to 3.30% APY*
- Zero monthly maintenance fees
- Zero overdraft or NSF fees
- Zero minimum monthly balance reqs
- No initial deposit requirement
- Unlimited domestic ATM fee reimbursements
- Online debit card management
- Simple, 3-step process for direct deposit
Basic Business Checking - Up to $400 Bonus
- Business owners get up to $400 welcome bonus!*
- Open a business checking account by June 30 and get up to $400 when you use promo code NEW400 on your application.*
- No initial deposit requirement
- No minimum balance requirement
- No monthly maintenance fees
- Free domestic incoming wires. Two (2) outgoing domestic wire fees reimbursed per month.
- Unlimited domestic ATM fee reimbursements
- Unlimited item processing (debits, credits, and deposited items)
- Cash deposits via MoneyPass and AllPoint networks
CashBack Checking - Earn up to 1.00% Cash Back
- Earn up to 1.00% cash back on signature-based purchases
- Unlimited domestic ATM fee reimbursement
- No monthly maintenance fee
- $50 minimum balance required to open account
Online Savings Account - Earn 4.25% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Online Checking Account - Earn Cash Back
- 1% cash back on up to $3,000 in debit card purchases each month. See website for details
- No fees
- Early Pay - Get your paycheck up to two days early with no charge
- No credit impact - You can apply without affecting your credit score.
- Access to over 60,000 no-fee ATMs in the U.S.
Discover® Cashback Checking – Up to $30/Month Cashback
Earn 1% cash back on up to $3,000 in debit card purchases each month, for a total of up to $30 cashback per month. Discover Cashback Debit checking account has no minimum balance requirement, no fees, and free online bill pay. See website for details.
Which is Better: Axos Bank or Discover Bank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Axos Bank or Chase.
In short: Axos Bank's checking is excellent.