BMO vs Discover Bank

BMO is a midwest bank with options for low and high-balance customers. How does it compare to Discover Bank? Read our comparison chart below.

BMO has over 900 branches and is the 8th largest bank in North America by assets. Smart Advantage checking has no fee and no minimum balance if you opt for eStatements. Savings need just $100 to open with easy ways to waive fees. Special Rate CDs require a $5,000 minimum opening deposit.

While Discover Bank offers some of the highest interest rates on the market. CDs go up to 10-year terms. There are no service fees.

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

	Member FDIC	Member FDIC
	Visit Site	Visit Site
	BMO	Discover Bank
	SPECIAL OFFER BMO Smart Advantage Checking account - Earn $400 Cash Bonus* - Learn More Read BMO Review	SPECIAL OFFER Online Savings Account - Earn 3.40% APY - Learn More Read Discover Bank Review
	Benefits and Features
Savings	0.01% APY. $5 reward every month you save $200 or more, for the first year.	3.40% APY
CD	0.05% - 3.00% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit.	2.00% to 4.00% APY depending on terms
Checking	Smart Advantage, Smart Money, Relationship
Money Market	Up to 2.53% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $5,000 minimum daily balance.
Mobile App		iOS & Android
ATMs	40,000+ BMO and Allpoint ATMs	Over 60,000 no-fee ATMs
Customer Service	Mon-Fri: 7am - 11pm (CT); Sat-Sun 8am - 10pm	24/7
IRA CD	0.05% - 1.00% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit
IRA Money Market	IRA Premium Savers: $100 minimum opening deposit. No monthly maintenance fee
Locations	981 branches	Online Only
	CreditDonkey® Reviews
Savings
CD
Checking
Money Market
Mobile App
Customer Service
Pros & Cons	Pros: Free checking with eStatements Large ATM network Good financial tools Cons: Limited branches Low savings APY	Pros: High yield No fees 24/7 customer service
Bottom Line	Midwest bank with options for low and high-balance customers... Read full review	Solid online bank with high APY rates and good customer service... Read full review
	Visit Site	Visit Site
	BMO Smart Advantage Checking account - Earn $400 Cash Bonus* BMO Smart Money Checking account - Earn $400 Cash Bonus* Savings Account - Up to $60 Bonus	Online Savings Account - Earn 3.40% APY Certificate of Deposit Discover® CD Rates
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. BMO: Pricing information from published website as of 10/03/2025 based on 60603 zip code. Discover Bank: Pricing information and data points from published website as of 09/30/2025.

Member FDIC

BMO Smart Advantage Checking account - Earn $400 Cash Bonus*

$400 cash bonus* when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening between 9/9/25 - 1/28/26. *Conditions apply. Accounts are subject to approval and provided in the U.S. by BMO Bank N.A. Member FDIC

Get Deal

Expires 1/28/2026

Member FDIC

BMO Smart Money Checking account - Earn $400 Cash Bonus*

$400 cash bonus* when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening between 9/9/25 - 1/28/26. *Conditions apply. Accounts are subject to approval and provided in the U.S. by BMO Bank N.A. Member FDIC

Get Deal

Expires 1/28/2026

Member FDIC

Online Savings Account - Earn 3.40% APY

Get Deal

• No fees
• No minimum opening deposit
• No minimum balance required

Member FDIC

Certificate of Deposit

• 3.50% APY for 6-month term
• 4.00% APY for 12-month term
• 3.80% APY for 18-month term
• 3.60% APY for 24-month term
• 3.60% APY for 36-month term
• 3.60% APY for 5-year term

Learn More

Member FDIC

Discover® CD Rates

• No minimum opening deposit required
• No fees
• FDIC insured

Term	CD Rates
3 Months	2.00% APY
6 Months	3.50% APY
9 Months	3.50% APY
1 Year	4.00% APY
1.5 Years	3.80% APY
2 Years	3.60% APY
2.5 Years	3.60% APY
3 Years	3.60% APY
4 Years	3.60% APY
5 Years	3.60% APY
7 Years	3.50% APY
10 Years	3.50% APY

Learn More

Which is Better: BMO or Discover Bank?

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

In short: Discover Bank's savings, money market, and customer service are worth mentioning. In particular, the customer service is outstanding.

Articles on BMO

BMO Review

BMO offers low fees and a large ATM network. But savings rates are low. However, the strong features can still make it a good bank for you. Read on.

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BMO Routing Number

If you have a BMO account, you only need to be aware of one routing number. This number is 071025661. Read on and learn how to use it.

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BMO Checking Account Bonus & Promotions

BMO rolls out enticing checking offers from time to time to attract new customers. Find the latest bonus deals here.

Who Owns BMO

BMO is a publicly-traded company with significant institutional investors. These include several well-known Canadian asset management firms and banks.

Is BMO an Ethical Bank

BMO has been recognized as one of the World's Most Ethical Companies for six consecutive years. How did they earn this award? Find out.

BMO Relationship Minimum Balance

Get more perks when you open a BMO Relationship Checking Account. Find out the balance you need to reach to unlock them.

Is BMO a Good Bank

Is BMO a good choice for your banking needs? Find out here.

Is BMO a Safe Bank

Wondering about the security of your funds with BMO? They have a Financial Crimes Unit backing you up, for one. Read on for more details.

What is BMO

BMO Harris is now BMO. But are they a legit bank? Find out if you should bank with them.

BMO Smart Advantage vs Smart Money

BMO's Smart Advantage has $0 monthly fees. Smart Money has no overdraft fees. Which one is a smarter choice? Read on to find out.

Is BMO a Real Bank

BMO, is a U.S bank, part of the Bank of Montreal. It offers solid basic checking options and a large ATM network. But, is it legit? Read on to find out.

Articles on Discover Bank

Discover Bank

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.

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Discover Online 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 Rates

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.

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.

Is Discover a Real 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.

Which Do You Think is Best?