Discover Bank vs Fifth Third Bank
Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Fifth Third 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. There are no service fees.
While Fifth Third Bank has 1,300 branches across the Midwest and Southwest. Basic checking account requires $1,500 minimum balance to avoid fees. Promotional CD offers a high APY for terms up to 27 months with a $5,000 minimum opening deposit.
Compare Discover Bank with Fifth Third Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
Visit Site | Visit Site | |
Discover Bank | Fifth Third Bank | |
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Discover® Online Savings - $200 Cash Bonus - | Personal Checking Account - $300 Bonus - | |
Benefits and Features | ||
Savings | ||
CD | 2.00% to 4.10% APY depending on terms | 0.01% APY. Terms ranging from 7 days to 84 months, minimum deposit of $500. Featured CD: 2.26% to 3.95% APY. Terms are 4, 8, 12, 24, and 60 months, minimum deposit of $5,000. |
Checking | Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details |
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Money Market | 3.70% APY under $100,000; 3.75% APY $100,000 or more. | 0.01% APY Standard Rate (0.01% Relationship Rate) |
ATMs | Allpoint® and 7-Eleven® network of ATMs. More than 40,000 fee-free ATMs nationwide. | |
Customer Service |
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IRA CD | 9-month CD APY of 3.80%. 12-month CD APY of 4.10%. 18-month CD APY of 3.80%. 24-month CD APY of 3.60%. 5-year CD APY of 3.40%. | |
Locations | ||
CreditDonkey® Reviews | ||
Savings | ||
Checking | ||
Money Market | ||
Mobile App | ||
Customer Service | ||
CD | ||
Pros & Cons | Pros:
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Bottom Line | Solid online bank with high APY rates and good customer service... | Midwest & Southwest bank with high balance requirements... |
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 11/20/2024. Fifth Third Bank: Pricing information from published website as of 11/22/2024 based on 45202 zip code. |
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, 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. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. 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 subject to tax reporting. Offer ends 03/13/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding your Account, see FAQs on Discover.com/Bank. See advertiser website for full details.
Discover® Online Savings - $150 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, 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. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. 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 subject to tax reporting. Offer ends 03/13/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding your Account, see FAQs on Discover.com/Bank. See advertiser website for full details.
Online Savings Account - Earn 3.90% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Personal Checking Account - $300 Bonus
Open an eligible Fifth Third checking account. Make direct deposits totaling $2,000 or more within 90 days of account opening to qualify for bonus. The cash bonus will be deposited into your new checking account within 10 business days of completing qualifying activity requirements.
Fifth Third Momentum® Checking - $300 Bonus
Open an eligible Fifth Third checking account. Make direct deposits totaling $2,000 or more within 90 days of account opening to qualify for bonus. The cash bonus will be deposited into your new checking account within 10 business days of completing qualifying activity requirements.
Which is Better: Discover Bank or Fifth Third 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, checking, money market, and customer service are worth mentioning. In particular, the customer service is outstanding.