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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
Online Savings Account - Earn 0.40% APY - Learn More

Read Discover Bank Review

SPECIAL OFFER
Fifth Third Checking Account - Up to $250 Bonus - Learn More

Read Fifth Third Bank Review

 

Benefits and Features

Savings
0.40% 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.
CD0.20% to 0.60% APY. Terms of 3 months to 10 years. 12-month CD APY of 0.50%. Minimum deposit of $2,500 to open.0.01% APY. Terms ranging from 7 days to 84 months, minimum deposit of $500. Featured CD: 0.05% APY at 5 months, minimum deposit of $5,000.
CheckingEarn 1% cashback on up to $3,000 in debit card purchases each monthFifth Third Momentum® Checking: No monthly service charge
Fifth Third Preferred Checking®: Interest-bearing checking account
Fifth Third Student Banking: Personal checking account for students age 13 and up.
Money Market0.30% APY under $100,000; 0.35% APY $100,000 or more. $2,500 minimum deposit.0.01% APY Standard Rate (0.01% 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 8:00 am - 6:00 pm (EST)
Sat 10:00 am - 4:00 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 0.50%. 24-month CD APY of 0.50%. 5-year CD APY of 0.60%.Can convert an IRA account to a regular CD account. 0.01% 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
SavingsStarStarStarStarHalf StarStarStarEmpty StarEmpty StarEmpty Star
CheckingStarStarStarStarEmpty StarStarStarStarEmpty StarEmpty Star
Money MarketStarStarStarStarHalf StarStarStarHalf StarEmpty StarEmpty Star
Customer ServiceStarStarStarStarStarStarStarStarStarEmpty Star
Mobile AppStarStarStarStarStarStarStarStarStarHalf Star
CDStarStarStarStarEmpty Star
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

Fifth Third Checking Account - Up to $250 Bonus

Discover Bank: Pricing information and data points from published website as of 01/28/2021

Fifth Third Bank: Pricing information from published website as of 7/23/2021 based on 45202 zip code.

Discover Bank
Member FDIC

Online Savings Account - Earn 0.40% APY

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

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.


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

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 Checking

With Discover Bank's Cashback Debit account, you'll pay no fees and earn money for purchases. Learn more about these benefits—and some downsides—in our guide.

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.

Articles on Fifth Third Bank

Fifth Third Bank Review

Fifth Third Bank has higher balance requirements and high service fees if they're not met. But it offers some unique programs. Read on to see if Fifth Third Bank is a good fit for you.

Which Do You Think is Best?





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