Chase vs Discover Bank
Chase is a national bank with good promotions for new customers. How does it compare to Discover Bank? Read our comparison chart below.
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Chase | Discover Bank | |
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Chase Bank $200 Bonus - | Online Savings Account - Earn 0.50% APY - | |
Benefits and Features | ||
Savings | Chase Savings: $5 monthly service fee waived with either a $300 daily balance OR $25 automatic transfer every month from a linked Chase checking account OR for owners under 18. $0 to open. Chase Premier Savings: Earn a higher interest rate when you have a bigger balance and meet certain relationship requirements when linked with a Chase Premier Plus Checking or Sapphire Checking account. | |
CD | Terms of 1 month to 10 years. $1,000 minimum opening deposit. No monthly service fee. | 0.20% to 0.60% APY. Terms of 3 months to 10 years. 12-month CD APY of 0.50%. Minimum deposit of $2,500 to open. |
Checking | Chase Total Checking: Basic checking account. $12 service fee waived with an average beginning day balance of $1,500 OR direct deposits of at least $500 each month. $0 minimum balance to open. Chase Premier Plus Checking: An interest-bearing account with some perks. $25 monthly service waived with an average beginning day balance of $15,000 OR a Chase mortgage with auto pay. $0 minimum balance to open. Chase Sapphire Checking: A premium checking account for those with $75,000 or more on deposit with Chase. $0 minimum balance to open. Chase College Checking: No monthly service fee for college students age 17-24 at account opening with proof of student status, for up to 5 years. $0 to open. Chase Private Client Checking: For high net worth individuals who have $250,000 on deposit with Chase. | Earn 1% cashback on up to $3,000 in debit card purchases each month |
Money Market | 0.35% APY under $100,000; 0.40% APY $100,000 or more. $2,500 minimum deposit. | |
Customer Service | ||
ATMs | ||
IRA CD | 12-month CD APY of 0.50%. 24-month CD APY of 0.50%. 5-year CD APY of 0.60%. | |
Locations | ||
CreditDonkey® Reviews | ||
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Savings | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Checking | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Customer Service | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Mobile App | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Money Market | ![]() ![]() ![]() ![]() ![]() | |
Pros & Cons | Pros:
| Pros:
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Bottom Line | National bank with good promotions for new customers... | Solid online bank with high APY rates and good customer service... |
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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. Chase: Pricing information and data points from published website as of 12/17/2020 Discover Bank: Pricing information and data points from published website as of 12/20/2020 |
Which is Better: Chase 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 Chase or CIT Bank.
In short: Discover Bank's savings and customer service are worth mentioning. In particular, the customer service is outstanding.
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