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. 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.
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| Visit Site | Learn More | |
Discover Bank | Axos Bank | |
|---|---|---|
Discover® Online Savings - $200 Cash Bonus - | 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 4.00% APY depending on terms | 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 | 3.50% APY under $100,000; 3.55% APY $100,000 or more. | |
| Mobile App | ||
| ATMs | approximately 91,000 partner ATMs | |
| Customer Service | ||
| IRA CD | 9-month CD APY of 4.00%. 12-month CD APY of 4.00%. 18-month CD APY of 3.80%. 24-month CD APY of 3.80%. 5-year CD APY of 3.50%. | |
| Locations | ||
CreditDonkey® Reviews | ||
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| Savings |   | |
| Checking |  | |
| Money Market | | |
| Mobile App | | |
| Customer Service | | |
| CD | | |
| ATMs | | |
| Locations | | |
| Pros & Cons | Pros:
| Pros:
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| 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 | Learn 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 04/22/2025. Axos Bank: Pricing information from published website as of 09/27/2024. | ||
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY325 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank. See advertiser website for full details.
Discover® Online Savings - $150 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY325 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank. See advertiser website for full details.
Online Savings Account - Earn 3.60% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Rewards Checking - Up to 3.30% APY
- Build your own APY with up to 3.30% APY*
- Zero monthly maintenance fees
- Zero overdraft or NSF fees
- Zero minimum monthly balance reqs
- No initial deposit requirement
- Unlimited domestic ATM fee reimbursements
- Online debit card management
- Simple, 3-step process for direct deposit
Axos ONE - Earn up to 4.66% APY
- Earn up to 4.66% APY* on savings, and 0.51% APY* on checking when you meet requirements.
- Get your money up to 2 days early.
- No monthly maintenance, minimum balance, account opening, or overdraft fees.
Basic Business Checking - Up to $400 Bonus
- Business owners get up to $400 welcome bonus!* Open a business checking account by September 30 and get up to $400 when you use promo code NEW400 on your application.*
- No initial deposit requirement
- No minimum balance requirement
- No monthly maintenance fees
- Free domestic incoming wires. Two (2) outgoing domestic wire fees reimbursed per month.
- Unlimited domestic ATM fee reimbursements
- Unlimited item processing (debits, credits, and deposited items)
- Cash deposits via MoneyPass and AllPoint networks
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.
Articles on Discover Bank
Discover Bank Review
Discover Savings Account Review
Discover CD Review
Discover Bank Bonus
Discover Checking Account Bonus
Discover High Yield Savings Bonus
Discover Bank Locations
Discover Checking Account Fees
Who Owns Discover
Discover Checking Account Minimum Balance
Discover Checking Account Requirements
Discover Money Market vs Savings
Is Discover a Real Bank
Is Discover Savings Worth It
Articles on Axos Bank
Axos Bank Review
Axos Business Checking
Which Do You Think is Best?
Which Bank Account is Right for You?
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