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.
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Visit Site | Visit Site | |
Discover Bank | Axos Bank | |
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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 5.00% 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 | 4.20% APY under $100,000; 4.25% APY $100,000 or more. $2,500 minimum deposit. | |
Customer Service | ||
ATMs | ||
IRA CD | 12-month CD APY of 5.00%. 18-month CD APY of 5.00%. 24-month CD APY of 4.30%. 5-year CD APY of 4.00%. | |
Locations | ||
CreditDonkey® Reviews | ||
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Pros & Cons | 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 | 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 09/09/2023. Axos Bank: Pricing information from published website as of 09/05/2023. |
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 CY923 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 12/14/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.
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 CY923 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 12/14/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.
Online Savings Account - Earn 4.30% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Rewards Checking - Up to 3.30% APY
- Use promo code SUNNYBONUS and apply by December 31st, 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 $200 Bonus
- Business owners get up to $200 welcome bonus!*
- Choose smarter business banking by September 30 and enjoy up to $200.* Just use promo code NEWSBC on your application.
- 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
Essential Checking
- Unlimited domestic ATM reimbursements
- No monthly maintenance fees
- No annual fee
- No overdraft or non-sufficient funds fee
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.