Discover Bank vs Charles Schwab BankDiscover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Charles Schwab 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. In addition, Discover offers checkback checking. There are no service fees. While Charles Schwab Bank offers an Investor Checking account with unlimited ATM fee reimbursements worldwide and no foreign transaction fees. No minimum to open and no service fee. It is tied to a brokerage account but you don't have to use it. Compare Discover Bank with Charles Schwab Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons. |  | | |  |  | | SPECIAL OFFER Online Savings Account - Earn 1.70% APY - Learn MoreRead Discover Bank Review | SPECIAL OFFER High Yield Investor Checking – Unlimited ATM Rebates - Learn MoreRead Charles Schwab Bank Review |
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| Benefits and Features |
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Savings | 1.70% APY. No fees and no minimum deposit. | 0.18% APY |
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CD | 0.35% to 2.20% APY. Terms of 3 months to 10 years. 12-month CD APY of 2.00%. Minimum deposit of $2,500 to open. | Offers brokered CDs from other banks. Terms range from 1 month to 20 years. Minimum deposit of $1,000. |
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Checking | Earn 1% cashback on up to $3,000 in debit card purchases each month. No fees and no minimum deposit. | 0.15% APY, $0.01 account minimum |
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Money Market | 1.55% APY under $100,000; 1.60% APY $100,000 or more. No fees. $2,500 minimum deposit. | |
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Customer Service | 24/7 | 24/7 Live Customer Service (Telephone and Chat) |
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ATMs | Over 60,000 no-fee ATMs | Unlimited ATM fee rebates when used with ATMs with the Visa, Interlink logo. Available worldwide. |
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IRA CD | 12-month CD APY of 2.00%. 24-month CD APY of 2.05%. 5-year CD APY of 2.10%. | |
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Locations | Online Only | 345 branches across the country. You may also open an account online. |
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| CreditDonkey® Reviews |
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Savings |      |      |
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Checking |      |      |
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Money Market |      | |
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Customer Service |      |      |
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Mobile App |      |      |
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Pros & Cons | Pros:- High yield
- Cashback checking
- 24/7 customer service
Cons:- No interest checking
- $2,500 minimum deposit for CDs
| Pros:- No account minimum
- No service fees
- Refund all ATM fees
Cons:- Only checking or savings
- Must do banking online
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Bottom Line | Solid online bank with high APY rates and good customer service... Read full review | Popular brokerage with a free checking account that refunds ATM fees... Read full review |
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| | High Yield Investor Checking – Unlimited ATM Rebates |
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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 from published website as of 10/31/2019 Charles Schwab Bank: Pricing information from published website as of 12/06/2019. | Which is Better: Discover Bank or Charles Schwab Bank?Still need help deciding which bank is better? Read the in-depth reviews below. You may also be interested in comparing Discover Bank or Chase. In short: Discover Bank's mobile app is outstanding.
Articles on Discover BankDiscover 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 Bank's CD account offers high rates and no hidden fees. But is the term length worth it? Read this in-depth review before you open a CD. With Discover Bank's Cashback Debit account, you'll pay no fees and earn money for purchases. Learn more about these benefits—and some downsides—in our guide. Discover Bank online savings account offers a high interest rates and no monthly fees. But is it the right place for your money? Read on to find out, plus the best way to open an account.
Articles on Charles Schwab BankCharles Schwab is more than a brokerage. It also offers high yield checking and savings interest rates that might far surpass your local bank. Read on to learn the pros and cons. You'll need the right routing number to transfer money in or out of your Charles Schwab bank account. Find yours and learn more about money transfers in our guide.
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