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.
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Discover Bank | BMO Harris Bank | |
|---|---|---|
Discover Online Savings - $200 Cash Bonus - | BMO Harris Smart Advantage™ Account - $200 Cash Bonus - | |
Benefits and Features | ||
| Savings | 0.01% APY. $5 reward every month you save $200 or more, for the first year. | |
| CD | 2.00% to 4.75% APY depending on terms. $2,500 minimum | 0.05% - 0.25% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit. |
| Checking | Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details | Smart Advantage, Smart Money, Premier |
| Money Market | 3.50% APY under $100,000; 3.55% 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 | Mon-Fri: 7am - 10pm (CT); Sat-Sun 8am - 8pm | |
| ATMs | 40,000+ BMO Harris and Allpoint ATMs | |
| IRA CD | 12-month CD APY of 4.50%. 24-month CD APY of 4.30%. 5-year CD APY of 4.10%. | 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 | ||
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... | Midwest bank with options for low and high-balance customers... |
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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. | ||
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.
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.
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.
Online Savings Account - Earn 3.60% APY
- No fees
- No minimum opening deposit
- No minimum balance required
BMO Harris Smart Advantage™ Account - $200 Cash Bonus
Open a new BMO Harris Smart Advantage™ Account online and get a $200 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.
BMO Harris Smart Money™ Account - $200 Cash Bonus
Open a new BMO Harris Smart Money™ Account online and get a $200 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.
BMO Harris Premier™ Account - $350 Cash Bonus
Open a new BMO Harris Premier™ Account and get a $350 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.
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.
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