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Discover Bank vs Citibank

Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Citibank? 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 Citibank has over 700 branches across the U.S. Accounts must be opened as a checking & savings package. Service fees and ways to waive are on the high side. Best for high-balance customers who can open one of the elite accounts to earn reward points, get preferred rates, and other perks.

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

 Discover BankCitibank
 Visit SiteLearn More
 

Discover Bank

Citibank

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

Read Discover Bank Review

OFFER
Citi Priority Account - Earn up to $2,000 Cash Bonus

Read Citibank Review

 

Benefits and Features

Savings
3.00% APY
CitiĀ® Accelerate High-Yield Savings available in AA, AE, AK, AL, AP, AR, AS, AZ, CO, DE, GA, GU, HI, IA, ID, IN, KS, KY, LA, MA, ME, MI, MN, MO, MP, MS, MT, NC, ND, NE, NH, NM, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VI, VT, WA, WI, WV, WY and select markets in Florida and Illinois.
CD1.50% to 4.25% APY. Terms of 3 months to 10 years. $2,500 minimum
Check
CheckingCashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for detailsCiti Priority Account
Money Market2.90% APY under $100,000; 2.95% APY $100,000 or more. $2,500 minimum deposit.
Check
Customer Service
24/7
24/7 Live Customer Service (Telephone)
ATMs
Over 60,000 no-fee ATMs
More than 70,000 fee-free ATMs at Citi branches and participating retail locations nationwide, including Target, CVS Pharmacy, Rite aid, Walgreens, Duane Reade and ATMs displaying Allpoint or MoneyPass logo.
IRA CD12-month CD APY of 4.00%. 24-month CD APY of 4.10%. 5-year CD APY of 4.25%.
Check
IRA Money Market 
Check
Locations
Online Only
More than 700 Citibank branches (concentrated in New York, Chicago, Los Angeles, San Francisco, Washington DC and Miami)
 

CreditDonkey® Reviews

 Discover BankCitibank
SavingsStarStarStarStarHalf StarStarStarStarEmpty StarEmpty Star
CheckingStarStarStarStarEmpty StarStarStarStarEmpty StarEmpty Star
Money MarketStarStarStarStarHalf Star
Customer ServiceStarStarStarStarStarStarStarStarStarEmpty Star
Mobile AppStarStarStarStarStarStarStarStarStarHalf Star
CDStarStarStarEmpty StarEmpty Star
Pros & ConsPros:
  • High yield
  • No fees
  • 24/7 customer service
Cons:
  • No interest checking
  • $2,500 minimum deposit for CDs
Pros:
  • Perks for high balance customers
  • Many fee-free ATMs
  • Global presence
Cons:
  • No free checking option
  • Higher balance requirements
  • Low savings APY
Bottom LineSolid online bank with high APY rates and good customer service... Read full reviewLarge national bank best for high balance customers... Read full review
 Visit SiteLearn 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 11/10/2022

    Citibank: Pricing information from published website as of 09/15/2021. This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.

    Citibank: This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.

    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, in the Discover App or by phone. Enter Offer Code CY922 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 12/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

    Expires 12/15/2022
    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, in the Discover App or by phone. Enter Offer Code CY922 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 12/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

    Expires 12/15/2022
    Discover Bank
    Member FDIC

    Online Savings Account - Earn 3.00% APY

    • No fees
    • No minimum opening deposit
    • No minimum balance required
    Citibank

    Citi Priority Account - Earn up to $2,000 Cash Bonus

    Expires 1/9/2023
    • Earn up to $2,000 cash bonus when you open a new eligible Citi Priority Checking Account with required activities
    • Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds.
    • Maintain a minimum balance for 60 consecutive calendar days from the 21st day.
    • If your balance falls to a lower tier at any point during the maintenance period, the bonus changes.
    • Bonus will be paid within 30 days after you successfully complete all required activities.
    Citibank

    Citi Priority Account - Earn up to $2,000 Cash Bonus

    Expires 1/9/2023

    Earn up to $2,000 cash bonus when you open a new eligible Citi Priority Checking Account with required activities. Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds. Maintain a minimum balance for 60 consecutive calendar days from the 21st day. If your balance falls to a lower tier at any point during the maintenance period, the bonus changes. Bonus will be paid within 30 days after you successfully complete all required activities.

    Balance LevelsMaximum Bonus
    $10,000 - $29,999$200
    $30,000 - $74,999$500
    $75,000 - $199,999$1,000
    $200,000 - $299,999$1,500
    $300,000 and above$2,000

    Which is Better: Discover Bank or Citibank?

    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, checking, and customer service are worth mentioning. In particular, the customer service is outstanding.


    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.

    Discover CD Review

    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 a Real Bank

    Discover Bank promises great rates and no fees. But is it actually a good and safe bank? Find out if it is a real and legit bank.

    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 Citibank

    Citibank Review

    Citibank, a CreditDonkey partner, offers banking services and credit cards. But service fees and balance requirements are on the high side. Is it the right bank for you?

    Citibank Open Account

    Opening a Citi bank account is easy. Take a look at what you'll need, plus find out how to earn up to $2,000 bonus

    Citi Priority Account

    Earn up to $2,000 for opening a Citi Priority Account with required activities. Find out how to take advantage of the huge cash bonus.

    Citibank Accelerate Savings

    Citi now offers high-yield savings with one of the best interest rate. But it's only available in select markets. Read this review to see if it's good for you.

    Citibank Routing Number

    Looking to transfer money in or out of your Citibank checking or savings account? Find your Citibank routing number and learn about money transfers below.

    Which Do You Think is Best?





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