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Citibank vs Discover Bank

Citibank is a large national bank best for high balance customers. How does it compare to Discover Bank? Read our comparison chart below.

Citibank has over 700 branches across the United States. 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.

While 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.

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

 Citibank
Member FDIC
Discover Bank
Member FDIC
 Learn MoreVisit Site
 

Citibank

Discover Bank

OFFER
Enhanced Direct Deposit - Earn $300 Cash Bonus

Read Citibank Review

SPECIAL OFFER
Online Savings Account - Earn 4.30% APY - Learn More

Read Discover Bank Review

 

Benefits and Features

Savings
  • Citi® Accelerate High-Yield Savings: Available in AA, AE, AK, AL, AP, AR, AS, AZ, CO, DE, GA, GU, HI, IA, ID, IN, KS, KY, LA, MA, ME, MI, MN, MO, MP, MS, MT, NC, ND, NE, NH, NM, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VI, VT, WA, WI, WV, WY and select markets in Florida and Illinois.
  • Citi® Savings: Available in CA, CT, DC, MD, NV, NJ, NY, VA, and select markets in Florida and Illinois.
4.30% APY
CD
Check
2.00% to 4.80% APY depending on terms. $2,500 minimum
Checking
Check
Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details
Money Market
Check
4.15% APY under $100,000; 4.20% APY $100,000 or more. $2,500 minimum deposit.
ATMsMore than 70,000 fee-free ATMs at Citi branches and participating retail locations nationwide, including Target, CVS Pharmacy, Rite aid, Walgreens, Duane Reade and ATMs displaying Allpoint or MoneyPass logo.
Over 60,000 no-fee ATMs
Customer Service24/7 Live Customer Service (Telephone)
24/7
IRA CD
Check
12-month CD APY of 4.80%. 18-month CD APY of 4.50%. 24-month CD APY of 4.00%. 5-year CD APY of 3.75%.
IRA Money Market
Check
 
LocationsMore than 700 Citibank branches (concentrated in New York, Chicago, Los Angeles, San Francisco, Washington DC and Miami)
Online Only
 

CreditDonkey® Reviews

 CitibankDiscover Bank
SavingsStarStarStarEmpty StarEmpty StarStarStarStarStarHalf Star
CDStarStarStarEmpty StarEmpty Star
CheckingStarStarStarEmpty StarEmpty StarStarStarStarStarEmpty Star
Mobile AppStarStarStarStarHalf StarStarStarStarStarStar
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarStar
Money MarketStarStarStarStarHalf Star
Pros & ConsPros:
  • Perks for high balance customers
  • Many fee-free ATMs
  • Global presence
Cons:
  • No free checking option
  • Higher balance requirements
  • Low savings APY
Pros:
  • High yield
  • No fees
  • 24/7 customer service
Cons:
  • No interest checking
  • $2,500 minimum deposit for CDs
Bottom LineLarge national bank best for high balance customers... Read full reviewSolid online bank with high APY rates and good customer service... Read full review
 Learn MoreVisit Site

    Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

    Citibank: Pricing information from published website as of 02/07/2024. This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.

    Discover Bank: Pricing information and data points from published website as of 02/07/2024.

    Citibank: This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.

    Citibank
    Member FDIC

    Enhanced Direct Deposit - Earn $300 Cash Bonus

    Earn $300 cash bonus when you open a new eligible checking account with Enhanced Direct Deposit and complete required activities. Member FDIC

    • Open a new eligible Citi Checking account with Enhanced Direct Deposits
    • Deposit at least two Enhanced Direct Deposits directly into your new checking account within 90 calendar days from account opening.
    • Your total combined Enhanced Direct Deposit must equal $1,500 or more.
    • Earn a $300 cash bonus. Your cash bonus will be deposited to your open, eligible checking account within 30 calendar days after required activities have been completed.
    Discover Bank
    Member FDIC

    Online Savings Account - Earn 4.30% 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: Citibank 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 Citibank or Chase.

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


    Articles on Citibank

    Citibank Review

    Citibank, a CreditDonkey partner, offers banking services and credit cards. But service fees and balance requirements are on the high side. Is it the right bank for you?

    Citibank Open Account

    Opening a Citi bank account is easy. Take a look at what you'll need, plus find out how to earn a bonus

    Citi Savings Account Interest Rate

    Citibank boasts two savings accounts with varying rates and low fees. But which one should you open? Read on for all the details.

    Citibank Accelerate Savings

    Citi now offers high-yield savings with one of the best interest rate. But it's only available in select markets. Read this review to see if it's good for you.

    Citibank Routing Number

    Looking to transfer money in or out of your Citibank checking or savings account? Find your Citibank routing number and learn about money transfers below.

    Articles on Discover Bank

    Discover Bank 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 Savings vs Money Market

    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 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?





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