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Discover Bank vs SunTrust Bank

Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to SunTrust 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 SunTrust Bank has 1,400 branches in the Southeast region. Checking accounts require $100 to open and offers different ways to waive fees. Select Savings account offers an annual 1% bonus up to $25. Promotional CD offers a high APY with a $2,000 minimum opening deposit.

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

 Discover Bank
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Discover Bank

SunTrust Bank

SPECIAL OFFER
Online Savings Account - Earn 1.90% APY - Learn More

Read Discover Bank Review

SPECIAL OFFER
SunTrust Advantage Checking Account - $300 Bonus - Learn More

Read SunTrust Bank Review

 

Benefits and Features

Savings1.90% APY. No fees and no minimum deposit.0.01% APY for all savings account. For Essential Savings Account - no minimum opening deposit, no monthly maintenance fee, no tiered interest rates. For Select Savings Account - $100 minimum opening deposit, $7 monthly maintenance fee unless 1) minimum $25 per month auto-transfer from a SunTrust personal checking account or, 2) $1,000 minimum daily collected balance. Has tiered interest rates.
CD0.35% to 2.60% APY. Terms of 3 months to 10 years. 12-month CD APY of 2.40%. Minimum deposit of $2,500 to open.1.50% - 1.75% APY. Terms ranging from 6 months - 58 months. $2000 minimum opening deposit.
CheckingEarn 1% cashback on up to $3,000 in debit card purchases each month. No fees and no minimum deposit. 
Money Market1.75% APY under $100,000; 1.80% APY $100,000 or more. No fees. $2,500 minimum deposit.Minimum opening deposit $100. Monthly maintenance fee $17 unless 1) one (1) automated transfer ($100 minimum) occurs, OR 2) a minimum daily collected balance of $10,000 is maintained.
Customer Service
24/7
24/7 Telephone and Automated Customer Service
ATMs
Over 60,000 no-fee ATMs
More than 2100 ATMs across 11 southeastern states and Washington DC.
IRA CD12-month CD APY of 2.40%. 24-month CD APY of 2.45%. 5-year CD APY of 2.50%.Terms ranging from 1 - 10 years.
Locations
Online Only
1400 bank branches across 11 southeastern states and Washington D.C.
 

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:
  • High APY for CDs
  • Free student account
  • Good customer service
Cons:
  • No free checking option
  • Low savings APY
  • Limited branches
Bottom LineSolid online bank with high APY rates and good customer service... Read full reviewSoutheastern regional bank known for good customer service... 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 9/5/2019

    SunTrust Bank: Pricing information from published website as of 9/16/2019 based on 91107 zip code.

    Which is Better: Discover Bank or SunTrust 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 savings, checking, money market, customer service, and mobile app are worth mentioning. In particular, the money market, customer service, and mobile app are outstanding.


    Articles on Discover Bank


    Articles on SunTrust Bank

      SunTrust Bank Review

      If customer service ranks high on your list, SunTrust Bank may be one you want to check out. While they offer interest rates comparable to most "big banks," they do offer that warm, fuzzy feeling some people look for in a bank.

    Which Do You Think is Best?


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