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 and have a minimum deposit of $2,500. 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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Online Savings Account - Earn 4.25% APY - | Personal Checking Account - $325 Bonus - | |
Benefits and Features | ||
Savings | ||
CD | 2.00% to 4.70% APY depending on terms. $2,500 minimum | 0.01% APY. Terms ranging from 7 days to 84 months, minimum deposit of $500. Featured CD: 2.00% - 4.25% APY. Terms are 4, 6, 12, and 24 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 | 4.00% APY under $100,000; 4.05% APY $100,000 or more. $2,500 minimum deposit. | 0.01% APY Standard Rate (0.01% Relationship Rate) |
ATMs | Allpoint® and 7-Eleven® network of ATMs. More than 50,000 fee-free ATMs nationwide. | |
Customer Service |
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IRA CD | 12-month CD APY of 4.70%. 18-month CD APY of 4.40%. 24-month CD APY of 4.00%. 5-year CD APY of 3.75%. | |
Locations | 1,300 branches, including 100 Bank Mart® locations across the country | |
CreditDonkey® Reviews | ||
Savings | ||
Checking | ||
Money Market | ||
Mobile App | ||
Customer Service | ||
CD | ||
Pros & Cons | Pros:
| 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 03/15/2024. Fifth Third Bank: Pricing information from published website as of 03/05/2024 based on 45202 zip code. |
Online Savings Account - Earn 4.25% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Online Checking Account - Earn Cash Back
- 1% cash back on up to $3,000 in debit card purchases each month. See website for details
- No fees
- Early Pay - Get your paycheck up to two days early with no charge
- No credit impact - You can apply without affecting your credit score.
- Access to over 60,000 no-fee ATMs in the U.S.
Discover® Cashback Checking – Up to $30/Month Cashback
Earn 1% cash back on up to $3,000 in debit card purchases each month, for a total of up to $30 cashback per month. Discover Cashback Debit checking account has no minimum balance requirement, no fees, and free online bill pay. See website for details.
Personal Checking Account - $325 Bonus
Open an eligible Fifth Third checking account. Make direct deposits totaling $500 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 - $325 Bonus
Open an eligible Fifth Third checking account. Make direct deposits totaling $500 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.