Discover Bank vs Axos Bank

Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Axos Bank? Read our comparison chart below.

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.

While 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.

Compare Discover Bank with Axos Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

	Discover Bank	Axos Bank
	Member FDIC	Member FDIC
	Visit Site	Visit Site
	SPECIAL OFFER Online Savings Account - Earn 4.25% APY - Learn More Read Discover Bank Review	SPECIAL OFFER Rewards Checking - Up to 3.30% APY - Learn More Read Axos Bank Review
	Benefits and Features
Savings	4.25% APY	0.61% APY (balances under $25k); 0.25% APY ($25K-$100K); 0.15% APY ($100k and over)
CD	2.00% to 4.70% APY depending on terms. $2,500 minimum	0.20% APY. Terms of 3 months to 5 years. $1,000 minimum
Checking	Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details	Rewards Checking: Up to 3.30% APY Cashback Checking: Up to 1% cashback
Money Market	4.00% APY under $100,000; 4.05% APY $100,000 or more. $2,500 minimum deposit.	0.25% APY
Mobile App		iOS & Android
ATMs	Over 60,000 no-fee ATMs	Approximately 91,000 partner ATMs
Customer Service	24/7	24/7
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	Online Only	Online only
	CreditDonkey® Reviews

Savings
Checking
Money Market
Mobile App
Customer Service
CD
ATMs
Locations
Pros & Cons	Pros: High yield No fees 24/7 customer service Cons: No interest checking $2,500 minimum deposit for CDs	Pros: Checking with rewards No monthly fee Domestic ATM rebates Cons: Low CD rates No physical branches
Bottom Line	Solid online bank with high APY rates and good customer service... Read full review	Full-service online bank with excellent cashback and interest checking... Read full review
	Visit Site	Visit Site
	Online Savings Account - Earn 4.25% APY Online Checking Account - Earn Cash Back Discover® Cashback Checking – Up to $30/Month Cashback	Rewards Checking - Up to 3.30% APY Basic Business Checking - Up to $400 Bonus CashBack Checking - Earn up to 1.00% Cash Back
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Discover Bank: Pricing information and data points from published website as of 04/09/2024. Axos Bank: Pricing information from published website as of 04/10/2024.

Member FDIC

Online Savings Account - Earn 4.25% APY

Get Deal

No fees
No minimum opening deposit
No minimum balance required

Member FDIC

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.

Apply Now

Member FDIC

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.

Get Deal

Member FDIC

Rewards Checking - Up to 3.30% APY

Get Deal

Expires 6/30/2024

Use promo code AXOS300 and apply by June 30th, to earn up to a $300 bonus!
Up to 3.30% APY
Zero monthly maintenance fees
Zero overdraft or NSF fees
Zero minimum monthly balance reqs
Unlimited domestic ATM fee reimbursements
Online debit card management
Simple, 3-step process for direct deposit
Only $50 to open an account

Member FDIC

Basic Business Checking - Up to $400 Bonus

Get Deal

Expires 6/30/2024

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 and maintain a minimum average daily balance of $50,000.*
Zero opening deposit and cash deposits accepted
Zero minimum monthly balance requirements
Two domestic wire reimbursements monthly
Unlimited domestic ATM fee reimbursements
Enhanced Visa benefits and first 50 checks free
Dedicated relationship manager and more

Member FDIC

CashBack Checking - Earn up to 1.00% Cash Back

Get Deal

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

Which is Better: Discover Bank or Axos Bank?

Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Discover Bank or Chase.

In short: Axos Bank's checking is excellent.

Articles on Discover Bank

Discover Bank Review

Discover® Bank offers high interest rates on its online savings and CD accounts. But there are downsides. Here's what you need to know before you open an account.

Discover Savings Account Review

Make your money work with Discover® Bank high yield savings: high interest, no fees. Find out its benefits, drawbacks, and the easy way to open an account.