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.

	Discover Bank	Axos Bank


	SPECIAL OFFER Discover Online Savings - $200 Cash Bonus - Learn More Read Discover Bank Review	SPECIAL OFFER Rewards Checking - Up to 3.30% APY - Learn More Read Axos Bank Review
	Benefits and Features
Savings	3.60% APY	0.61% APY (balances under $25k); 0.25% APY ($25K-$100K); 0.15% APY ($100k and over)
CD	2.00% to 4.75% 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	3.50% APY under $100,000; 3.55% APY $100,000 or more. $2,500 minimum deposit.	0.25% APY
Customer Service	24/7
ATMs	Over 60,000 no-fee ATMs
IRA CD	12-month CD APY of 4.50%. 24-month CD APY of 4.30%. 5-year CD APY of 4.10%.
Locations	Online Only
	CreditDonkey® Reviews

Savings
Checking
Money Market
Customer Service
Mobile App
CD
ATMs
Locations
Pros & Cons	Pros: High yield No fees 24/7 customer service Cons: No interest checking $2,500 minimum deposit for CDs	Pros: Checking with rewards No monthly fee Domestic ATM rebates Cons: Low CD rates No physical branches
Bottom Line	Solid online bank with high APY rates and good customer service... Read full review	Full-service online bank with excellent cashback and interest checking... Read full review

	Discover Online Savings - $200 Cash Bonus Discover Online Savings - $150 Cash Bonus Online Savings Account - Earn 3.60% APY	Rewards Checking - Up to 3.30% APY Basic Business Checking - $200 Bonus Essential Checking
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 03/17/2023. Axos Bank: Pricing information from published website as of 02/21/2023.

Member FDIC

Discover Online Savings - $200 Cash Bonus

To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code CY223 when applying. 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. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. 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 the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 6/15/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Get Deal

Expires 6/15/2023

Member FDIC

Discover Online Savings - $150 Cash Bonus

To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code CY223 when applying. 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. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.

Get Deal

Expires 6/15/2023

Member FDIC

Online Savings Account - Earn 3.60% APY

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No fees
No minimum opening deposit
No minimum balance required

Member FDIC

Rewards Checking - Up to 3.30% APY

Get Deal

Use the promo code RC100 when you apply for a Rewards Checking account by 4/12/2023. Then have qualifying direct deposit(s) to earn a $100 welcome 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

Member FDIC

Basic Business Checking - $200 Bonus

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New business owners get a $200 welcome bonus!
Zero monthly maintenance fees
Unlimited Transactions
Unlimited domestic ATM fee reimbursements
$0 Minimum Opening Deposit requirement
2 Free Domestic Wires, monthly
Cash Deposit capability via MoneyPass and AllPoint networks

Member FDIC

Essential Checking

Unlimited domestic ATM reimbursements
No monthly maintenance fees
No annual fee
No overdraft or non-sufficient funds fee

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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 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

Discover Bank online savings account offers a high interest rates and no monthly fees. But is it the right place for your money? Read on to find out, plus the best way to open an account.