Discover Bank vs Citizens Bank
Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Citizens 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 Citizens Bank has over 1,100 branches on the East Coast. It offers a wide range of banking products and services, as well as financial tools to keep you on track. The GoalTrack Savings program offers gift card incentives for reaching your savings goals.
Compare Discover Bank with Citizens Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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Discover Bank | Citizens Bank | |
|---|---|---|
Discover Online Savings - $200 Cash Bonus - | Personal Checking Account - $300 Bonus - | |
Benefits and Features | ||
| Savings | Several types of Savings accounts. 0.01% - 0.02% APY. No minimum opening deposit. $4.99 monthly maintenance fee, unless you have a minimum daily balance of $200 in your account, or have a qualifying Citizens Bank checkings account. | |
| CD | 0.30% to 2.75% APY. Terms of 3 months to 10 years. $2,500 minimum | Several types of CD accounts. Terms ranging from 10 - 25 months. 0.03% - 0.05% APY. Some APY rates may require qualifying Citizens Bank Checking Account. Minimum opening deposit $1000 for all accounts. |
| Checking | Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details | |
| Money Market | 0.60% APY under $100,000; 0.65% APY $100,000 or more. $2,500 minimum deposit. | Several types of Money Market accounts. 0.03% APY. No minimum opening deposit. Monthly maintenance fee of $10, unless you have a minimum daily balance of $2500. Other Money Market accounts have no monthly maintenance fee but require qualifying Citizens Bank Checking Account. |
| Customer Service | 24/7 Telephone Customer Service | |
| ATMs | More than 3100 ATMs across 11 states. | |
| IRA CD | 12-month CD APY of 1.50%. 24-month CD APY of 2.00%. 5-year CD APY of 2.75%. | Terms ranging from 1 - 120 months. Minimum opening deposit $250. No monthly maintenance fee. |
| Locations | Approximately 1,018 branches across the country | |
CreditDonkey® Reviews | ||
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| Mobile App | | |
| CD | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Solid online bank with high APY rates and good customer service... | East Coast bank with solid deposit products to help meet goals... |
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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 05/27/2022 Citizens Bank: Pricing information from published website as of 03/25/2022 based on 10011 zip code. | ||
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 CY222 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 06/15/2022, 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, by phone or Discover App). Enter Offer Code CY222 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 06/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.
Online Savings Account - Earn 0.70% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Which is Better: Discover Bank or Citizens 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 money market and mobile app are worth mentioning. In particular, the mobile app is outstanding.
Articles on Discover Bank
Discover Bank Review
Discover Online Savings Account Review
Discover CD Rates Reviews
Is Discover Savings Worth It
Discover Savings Bonus
Articles on Citizens Bank
Citizens Bank Review
Which Do You Think is Best?
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