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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. In addition, Discover offers checkback checking. 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.

 Discover Bank
 Visit SiteLearn More
 

Discover Bank

Fifth Third Bank

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

Read Discover Bank Review

SPECIAL OFFER
Fifth Third Business Checking Account - $500 Bonus - Learn More

Read Fifth Third Bank Review

 

Benefits and Features

Savings
1.60% APY
0.01% APY. No minimum deposit. $5 per month unless 1) you have a Fifth Third Checking Account, or 2) You maintain an average monthly balance of $500 or more, or 3) You or someone under age 18 is an owner of the account, 4) You are enrolled in Fifth Third Military Banking.
CD0.35% to 2.20% APY. Terms of 3 months to 10 years. 12-month CD APY of 2.00%. Minimum deposit of $2,500 to open.0.05% - 0.60% APY. Terms ranging from 7 days to 84 months, minimum deposit of $500. Featured CD: 0.50% - 1.25% at 5, 9 and 15 months, minimum deposit of $5,000.
CheckingEarn 1% cashback on up to $3,000 in debit card purchases each month 
Money Market1.45% APY under $100,000; 1.50% APY $100,000 or more. $2,500 minimum deposit.0.01% - 0.10% APY Standard Rate (0.02% - 0.20% APY Relationship Rate). No minimum deposit. Monthly service charge of $5, unless 1) you have a Fifth Third Checking Account or 2) you maintain an average monthly balance of $500 or more, or 3) you or someone under age 18 is an owner of the account, or 4) you are enrolled in Fifth Third Military Banking
Customer Service
24/7
Mon-Fri 7:00 am - 8:00 pm (EST)
Sat 8:30 am - 5:00 pm (EST)
ATMs
Over 60,000 no-fee ATMs
Allpoint® and 7-Eleven® network of ATMs. More than 50,000 fee-free ATMs nationwide.
IRA CD12-month CD APY of 2.00%. 24-month CD APY of 2.05%. 5-year CD APY of 2.10%.Can convert an IRA account to a regular CD account. 0.05% - 0.60% APY. Terms ranging from 7 days to 84 months. Minimum deposit of $500 or $5,000, depending on CD account type.
Locations
Online Only
1,300 branches, including 100 Bank Mart® locations across the country
 

CreditDonkey® Reviews

 Discover Bank
Savings
Checking
Money Market
Customer Service
Mobile App
CD
Pros & ConsPros:
  • High yield
  • Cashback checking
  • 24/7 customer service
Cons:
  • No interest checking
  • $2,500 minimum deposit for CDs
Pros:
  • Free Express Checking
  • Free student checking
  • Promo CD with high APY
Cons:
  • Higher balance requirements
  • Low savings APY
  • Limited branches
Bottom LineSolid online bank with high APY rates and good customer service... Read full reviewMidwest & Southwest bank with high balance requirements... Read full review
 Visit SiteLearn More
What Others View

    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 from published website as of 1/30/2020

    Fifth Third Bank: Pricing information from published website as of 02/28/2020 based on 45202 zip code.

    Which is Better: Discover Bank or Fifth Third Bank?

    Still need help deciding which bank 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 money market and customer service are outstanding.


    Articles on Discover Bank


    Articles on Fifth Third Bank


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    CIT Bank Promo Code

    Get $150 cash bonus with $25k deposit or $300 cash bonus with $50k deposit. You must use the promo code to get this deal. CIT Bank promotion is open to new AND existing customers. Limited time offer expires 5/30/2020.

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