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Discover Bank vs Citibank

Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Citibank? 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 Citibank has 700 branches across the U.S. Accounts must be opened as a checking & savings package. Service fees and ways to waive are on the high side. Best for high-balance customers who can open one of the elite accounts to earn reward points, get preferred rates, and other perks.

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

 Discover Bank
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Discover Bank

Citibank

SPECIAL OFFER
Online Savings Account - Earn 1.80% APY - Learn More

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Current Promotion - Learn More

Read Citibank Review

 

Benefits and Features

Savings1.80% APY. No fees and no minimum deposit.0.04% APY. No minimum deposit. $4.50 monthly fee unless you maintain an average monthly balance of $500.
CD0.35% to 2.30% APY. Terms of 3 months to 10 years. 12-month CD APY of 2.10%. Minimum deposit of $2,500 to open.0.05% - 1.75% APY. Terms ranging from 3 months to 5 years. Minimum opening deposit is $1,000 in CA, and NV, $2,500 in MD, DC, VA, and FL, $500 in all other markets.
CheckingEarn 1% cashback on up to $3,000 in debit card purchases each month. No fees and no minimum deposit. 
Money Market1.65% APY under $100,000; 1.70% APY $100,000 or more. No fees. $2,500 minimum deposit.A.k.a 'Savings Plus' Account. 0.01% - 0.10% APY. Minimum opening deposit $100.
Customer Service
24/7
24/7 Live Customer Service (Telephone)
ATMs
Over 60,000 no-fee ATMs
2400 ATMs across the country. Citibank also works at all MoneyPass ATMs, which means access to over 60,000 no-fee ATMs.
IRA CD12-month CD APY of 2.10%. 24-month CD APY of 2.15%. 5-year CD APY of 2.20%.Can convert an IRA to a regular CD account. 0.05% - 1.75% APY. Terms ranging from 3 months to 5 years. Minimum opening deposit is $1,000 in CA, and NV, $2,500 in MD, DC, VA, and FL, $500 in all other markets.
IRA Money Market Can convert an IRA account to a regular Money Market account. 0.01% - 0.10% APY. Minimum opening deposit $100.
Locations
Online Only
700 Citibank branches across 13 states (mostly in California and New York)
 

CreditDonkey® Reviews

 Discover Bank
Savings
Checking
Money Market
Customer Service
Mobile App
CD
Pros & ConsPros:
  • High yield
  • Cashback checking
  • 24/7 customer service
Cons:
  • No interest checking
  • $2,500 minimum deposit for CDs
Pros:
  • Perks for high balance customers
  • Many fee-free ATMs
  • Global presence
Cons:
  • No free checking option
  • Higher balance requirements
  • Low savings APY
Bottom LineSolid online bank with high APY rates and good customer service... Read full reviewLarge national bank best for high balance customers... Read full review
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What Others View

    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

    Citibank: Pricing information from published website as of 11/15/2019.

    Which is Better: Discover Bank or Citibank?

    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 savings, checking, and customer service are worth mentioning. In particular, the customer service is outstanding.


    Articles on Discover Bank


    Articles on Citibank

      Citibank Review

      Citibank offers credit cards and banking services. But service fees and balance requirements are on the high side. Is it the right bank for you? Keep reading to find out.

      Citibank Routing Number

      Looking to transfer money in or out of your Citibank checking or savings account? You'll need the right routing number. Find your Citibank routing number and learn about money transfers below.

    Which Do You Think is Best?


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