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Discover Bank vs BMO Harris Bank

Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to BMO Harris 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 BMO Harris Bank has 900 branches in the Midwest. Smart Advantage checking account has no fee and no minimum balance if you opt for eStatements. Savings need just $100 to open with easy ways to waive fees. Special Rate CDs require a $5,000 minimum opening deposit.

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

 Discover BankBMO Harris Bank
 Visit SiteVisit Site
 

Discover Bank

BMO Harris Bank

SPECIAL OFFER
Discover Online Savings - $200 Cash Bonus - Learn More

Read Discover Bank Review

SPECIAL OFFER
BMO Harris Premier™ Account - $500 Cash Bonus - Learn More

Read BMO Harris Bank Review

 

Benefits and Features

Savings
1.10% APY
0.01% APY. $5 reward every month you save $200 or more, for the first year.
CD0.50% to 2.90% APY. Terms of 3 months to 10 years. $2,500 minimum0.05% - 0.25% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit.
CheckingCashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for detailsSmart Advantage, Smart Money, Premier
Money Market1.00% APY under $100,000; 1.05% APY $100,000 or more. $2,500 minimum deposit.0.05% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $10,000 minimum daily balance.
Customer Service
24/7
Mon-Fri: 7am - 10pm (CT); Sat-Sun 8am - 8pm
ATMs
Over 60,000 no-fee ATMs
40,000+ BMO Harris and Allpoint ATMs
IRA CD12-month CD APY of 1.90%. 24-month CD APY of 2.25%. 5-year CD APY of 2.90%.0.05% - 0.25% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit
IRA Money Market IRA Premium Savers: $100 minimum opening deposit. No monthly maintenance fee
Locations
Online Only
More than 500 branches
 

CreditDonkey® Reviews

 Discover BankBMO Harris Bank
SavingsStarStarStarStarHalf StarStarStarEmpty StarEmpty StarEmpty Star
CheckingStarStarStarStarEmpty StarStarStarStarStarEmpty Star
Money MarketStarStarStarStarHalf StarStarStarStarEmpty StarEmpty Star
Customer ServiceStarStarStarStarStarStarStarStarHalf StarEmpty Star
Mobile AppStarStarStarStarStarStarStarStarStarHalf Star
CDStarStarStarStarEmpty Star
Pros & ConsPros:
  • High yield
  • No fees
  • 24/7 customer service
Cons:
  • No interest checking
  • $2,500 minimum deposit for CDs
Pros:
  • Free checking with eStatements
  • Large ATM network
  • Good financial tools
Cons:
  • Limited branches
  • Low savings APY
Bottom LineSolid online bank with high APY rates and good customer service... Read full reviewMidwest bank with options for low and high-balance customers... Read full review
 Visit SiteVisit 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 06/30/2022

Discover Bank
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, by phone or Discover App). Enter Offer Code CY622 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 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 09/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Expires 9/15/2022
Discover Bank
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, by phone or Discover App). Enter Offer Code CY622 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 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 09/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Expires 9/15/2022
Discover Bank
Member FDIC

Online Savings Account - Earn 1.10% APY

  • No fees
  • No minimum opening deposit
  • No minimum balance required
BMO Harris Bank
Member FDIC

BMO Harris Premier™ Account - $500 Cash Bonus

Open a new BMO Harris Premier™ Account and get a $500 cash bonus when you have a total of at least $7,500 in qualifying direct deposits within the first 90 days of account opening. Offer is limited to one per customer and is not available for existing BMO Harris personal checking customers (including signers on joint accounts) or those who have closed a BMO Harris personal checking account within the past 12 months. Conditions apply.

Expires 9/30/2022
BMO Harris Bank
Member FDIC

BMO Harris Smart Advantage™ Account - $300 Cash Bonus

Open a new BMO Harris Smart Advantage™ Account online and get a $300 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 90 days of account opening. Offer is limited to one per customer and is not available for existing BMO Harris personal checking customers (including signers on joint accounts) or those who have closed a BMO Harris personal checking account within the past 12 months. Conditions apply.

Expires 9/30/2022
BMO Harris Bank
Member FDIC

BMO Harris Smart Money™ Account - $300 Cash Bonus

Open a new BMO Harris Smart Money™ Account online and get a $300 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 90 days of account opening. Offer is limited to one per customer and is not available for existing BMO Harris personal checking customers (including signers on joint accounts) or those who have closed a BMO Harris personal checking account within the past 12 months. Conditions apply.

Expires 9/30/2022

Which is Better: Discover Bank or BMO Harris 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: Discover Bank's savings, money market, and customer service are worth mentioning. In particular, the customer service is outstanding.


Articles on Discover Bank

Discover Bank

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 Online 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.

Discover CD Rates

Discover Bank's CD account offers high rates and no hidden fees. But is the term worth it? Read this review before you open a CD.

Is Discover Savings Worth It

Looking for a better place to keep your money safe? Find out if a Discover Online Savings Account is worth it for you.

Discover Savings Bonus

You could earn $150 or $200 when you open a Discover Online Savings Account. Find out how to qualify for this Discover Bank promotion.

Articles on BMO Harris Bank

BMO Harris Bank Review

BMO Harris offers low fees and a large ATM network. But savings rates are low. However, the strong features can still make it a good bank for you. Read on.

BMO Harris Routing Number

If you have a BMO Harris Bank account, you only need to be aware of one routing number. This number is 071025661. Read on and learn how to use it.

Which Do You Think is Best?





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