Discover Bank vs Axos Bank
Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Axos 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. There are no service fees.
While Axos Bank offers a range of checking and savings products. Checking options includes a up-to 1% cashback account and rewards checking account with a higher interest rate. Savings options include savings accounts and CDs with higher-than-average rates. All accounts have no monthly service fees.
Compare Discover Bank with Axos Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
Visit Site | Visit Site | |
Discover Bank | Axos Bank | |
---|---|---|
Online Savings Account - Earn 4.25% APY - | Rewards Checking - Up to 3.30% APY - | |
Benefits and Features | ||
Savings | 0.61% APY (balances under $25k); 0.25% APY ($25K-$100K); 0.15% APY ($100k and over) | |
CD | 2.00% to 4.70% APY depending on terms. $2,500 minimum | 0.20% APY. Terms of 3 months to 5 years. $1,000 minimum |
Checking | Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details | Rewards Checking: Up to 3.30% APY Cashback Checking: Up to 1% cashback |
Money Market | 4.00% APY under $100,000; 4.05% APY $100,000 or more. $2,500 minimum deposit. | |
Mobile App | ||
ATMs | Approximately 91,000 partner ATMs | |
Customer Service | ||
IRA CD | 12-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%. | |
Locations | ||
CreditDonkey® Reviews | ||
Savings | ||
Checking | ||
Money Market | ||
Mobile App | ||
Customer Service | ||
CD | ||
ATMs | ||
Locations | ||
Pros & Cons | Pros:
| Pros:
|
Bottom Line | Solid online bank with high APY rates and good customer service... | Full-service online bank with excellent cashback and interest checking... |
Visit Site | Visit Site | |
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 04/26/2024. Axos Bank: Pricing information from published website as of 04/10/2024. |
Online Savings Account - Earn 4.25% APY
- No fees
- No minimum opening deposit
- No minimum balance required
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® 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.
Rewards Checking - Up to 3.30% APY
- Use promo code AXOS300 and apply by June 30th, to earn up to a $300 bonus!
- Up to 3.30% APY
- Zero monthly maintenance fees
- Zero overdraft or NSF fees
- Zero minimum monthly balance reqs
- Unlimited domestic ATM fee reimbursements
- Online debit card management
- Simple, 3-step process for direct deposit
- Only $50 to open an account
Basic Business Checking - Up to $400 Bonus
- Business owners get up to $400 welcome bonus!*
- Open a business checking account by June 30 and get up to $400 when you use promo code NEW400 on your application and maintain a minimum average daily balance of $50,000.*
- Zero opening deposit and cash deposits accepted
- Zero minimum monthly balance requirements
- Two domestic wire reimbursements monthly
- Unlimited domestic ATM fee reimbursements
- Enhanced Visa benefits and first 50 checks free
- Dedicated relationship manager and more
CashBack Checking - Earn up to 1.00% Cash Back
- Earn up to 1.00% cash back on signature-based purchases
- Unlimited domestic ATM fee reimbursement
- No monthly maintenance fee
- $50 minimum balance required to open account
Which is Better: Discover Bank or Axos Bank?
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: Axos Bank's checking is excellent.