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Discover Bank vs Wells Fargo

Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Wells Fargo? 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. Find out more

While Wells Fargo is one of America's largest banks with over 4,500 locations and approximately 11,000 ATMs. Offers many checking options, including Teen Checking and Opportunity Checking for those who had financial troubles. 24/7 customer service. Special CDs offers high rates with $5,000 minimum opening deposit.

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

 Discover Bank
Member FDIC
 Visit SiteLearn More
 

Discover Bank

Wells Fargo

SPECIAL OFFER
Online Savings Account - Earn 4.25% APY - Learn More

Read Discover Bank Review

SPECIAL OFFER
Personal Checking Account - $2,500 Bonus - Learn More

Read Wells Fargo Review

 

Benefits and Features

Savings
4.25% APY
0.15% APY. Minimum opening deposit of $25. Monthly service fee of $5, unless you maintain a minimum daily balance of $300, make 1 automatic transfer each fee period of $25 or more from a linked Wells Fargo checking account, make 1 automatic transfer each business day within the fee period of $1 or more from a linked Wells Fargo checking account, make 1 or more Save As You Go® transfers from a linked Wells Fargo checking account, or primary account owner is 24 years old or under.
CD2.00% to 4.70% APY depending on terms. $2,500 minimumStandard Fixed Term CD available online: 1.50% to 4.50% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Bonus of up to 4.51% APY if you maintain a linked Portfolio by Wells Fargo relationship. More CD terms are available in branch.
CheckingCashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for detailsClear Access Banking, Everyday Checking, Portfolio by Wells Fargo
Money Market4.00% APY under $100,000; 4.05% APY $100,000 or more. $2,500 minimum deposit.Also known as the Platinum Savings Account. 0.25% - 2.50% APY. Minimum opening deposit of $25. $12 monthly service fee, unless you maintain a minimum daily balance of $3,500. Bonus APY of 2.51% requires account linked to Portfolio by Wells Fargo relationship.
ATMs
Over 60,000 no-fee ATMs
approximately 11,000 ATMs across the country
Customer Service
24/7
Available 24 hours a day, 7 days a week.
IRA CD12-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%.Standard Term CD: 0.01% to 4.50% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Bonus of up to 4.51% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account.
IRA Money Market Also known as Retirement High Yield Savings. 0.25% - 2.50% APY. $100 minimum opening deposit.
Locations
Online Only
Approximately 4,500+ retail banking branches coast to coast.
 

CreditDonkey® Reviews

 Discover Bank
SavingsStarStarStarStarHalf StarStarStarEmpty StarEmpty StarEmpty Star
CheckingStarStarStarStarEmpty StarStarStarStarStarHalf Star
Money MarketStarStarStarStarHalf Star
Mobile AppStarStarStarStarStarStarStarStarStarStar
Customer ServiceStarStarStarStarStarStarStarStarStarHalf Star
CDStarStarStarHalf StarEmpty Star
Pros & ConsPros:
  • High yield
  • No fees
  • 24/7 customer service
Cons:
  • No interest checking
  • $2,500 minimum deposit for CDs
Pros:
  • Low requirements for Everyday Checking
  • Full service bank
  • 24/7 customer service
Cons:
  • Low savings rates
  • Not in all states
Bottom LineSolid online bank with high APY rates and good customer service... Read full reviewA "big 4" bank with a good range of checking accounts and full services... Read full review
 Visit SiteLearn More

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 03/15/2024.

Wells Fargo: Pricing information from the published website as of 03/15/2024 is based on the 91107 zip code.

Discover Bank
Member FDIC

Online Savings Account - Earn 4.25% APY

  • No fees
  • No minimum opening deposit
  • No minimum balance required
Discover Bank
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.
Discover Bank
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.

Which is Better: Discover Bank or Wells Fargo?

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: Discover Bank's savings is worth mentioning.


Articles on Discover Bank

Discover Savings 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.

Discover CD

Maximize returns with Discover® Bank lucrative CD rates - no hidden fees. Read this detailed review.

Discover Bank Locations

Wondering if there is a Discover® Bank near you? Read this article to find out.

Discover Checking Account Fees

Does Discover® Cashback Debit have any fees? Find out if they are completely fee-free.

Who Owns Discover

You've probably heard of Discover credit cards, but what exactly is Discover® Bank? Is it a legitimate bank? Read on for all the details.

Discover Checking Account Minimum Balance

Discover® Cashback Debit doesn't have a minimum balance. But what's the catch? Read on for all the details.

Discover Checking Account Requirements

Discover® checking account offers no monthly fees and a rewarding cashback program. Here's what you need to open an account today.

Discover Money Market vs Savings

Discover® Bank boasts solid rates for both their money market and savings accounts. Find out which one is more suited for you.

Is Discover a Good Bank

Looking for a safe bank with great rates? This analysis of Discover® Bank reveals all - is it legit? Find out now.

Is Discover Savings Worth It

Is your money secure in a high-yield Discover® savings account? Get your answers now.

Articles on Wells Fargo

Wells Fargo Bank Review

Wells Fargo offers nationwide access with thousands of ATMs and branch locations. But are their checkings and savings accounts right for you? Read on to see the best options.

Wells Fargo High Yield Savings

Looking for a traditional bank to grow your funds? Wells Fargo offers a high-yield savings account with a decent rate. Read on to find out more.

Wells Fargo Bank CD Rates

Wells Fargo is one of the largest banks in the U.S. Should you get a Wells Fargo CD? Might be worth considering. Learn more.

Wells Fargo Bank Hours

Wells Fargo is one of the biggest banks in the country. Here's when you can visit a branch near you.

Wells Fargo Routing Number

Not all routing numbers are the same for Wells Fargo. Here's how to find the routing number for your bank account.

Which Do You Think is Best?





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