Discover Bank vs M&T Bank

Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to M&T 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 M&T Bank has 690 branches serving the Upper East Coast and Florida. Offers a no-fee checking, as well as interest checking but with heavier requirements to waive service fees. Select Promo CD offers high rates for terms up to 36 months with a $1,000 minimum opening deposit.

Compare Discover Bank with M&T Bank, side-by-side.

	Member FDIC	M&T BankWells FargoBank of AmericaKeyBank
	Visit Site	Learn More
	Discover Bank	M&T Bank
	SPECIAL OFFER Online Savings Account - Earn 3.40% APY - Learn More Read Discover Bank Review	SPECIAL OFFER Personal Checking Account - $200 Bonus - Learn More
	Benefits and Features
Savings	3.40% APY	0.01% APY. Monthly service fee of $7.50 unless you 1) maintain a minimum daily balance of $500 or more or, 2) have a personal checking account with M&T Bank or, 3) make at least one deposit in your Relationship Savings account
CD	2.00% to 3.85% APY depending on terms	Terms from 32 days to 72 months. Minimum opening deposit $1,000.
Mobile App	iOS & Android
ATMs	Over 60,000 no-fee ATMs	More than 1,800 M&T Bank ATMs in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia.
Customer Service	24/7	Mon - Fri 8:00 am - 9:00 pm (ET); Sat - Sun 9:00 am - 5:00 pm (ET).
Locations	Online Only	700 bank branches located throughout New York, New Jersey, Pennsylvania, Maryland, Washington, D.C., Virginia, West Virginia and Florida
	CreditDonkey® Reviews
Savings
Checking
Money Market
Mobile App
Customer Service
Pros & Cons	Pros: High yield No fees 24/7 customer service
Bottom Line	Solid online bank with high APY rates and good customer service... Read full review
	Visit Site	Learn More
	Online Savings Account - Earn 3.40% APY Certificate of Deposit Discover® CD Rates	Personal Checking Account - $200 Bonus Personal Checking Account - $150 Bonus Personal Checking Account - $100 Bonus
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 10/23/2025. M&T Bank: Pricing information from published website as of 10/23/2025 based on 14203 zip code

Member FDIC

Online Savings Account - Earn 3.40% APY

Get Deal

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

Member FDIC

Certificate of Deposit

• 3.50% APY for 6-month term
• 3.85% APY for 12-month term
• 3.70% APY for 18-month term
• 3.50% APY for 24-month term
• 3.50% APY for 36-month term
• 3.50% APY for 5-year term

Learn More

Member FDIC

Discover® CD Rates

• No minimum opening deposit required
• No fees
• FDIC insured

Term	CD Rates
3 Months	2.00% APY
6 Months	3.50% APY
9 Months	3.50% APY
1 Year	3.85% APY
1.5 Years	3.70% APY
2 Years	3.50% APY
2.5 Years	3.50% APY
3 Years	3.50% APY
4 Years	3.50% APY
5 Years	3.50% APY
7 Years	3.50% APY
10 Years	3.50% APY

Learn More

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 Wells Fargo.

Articles on Discover Bank

Discover Savings Review

Discover® Bank 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 Bank vs Capital One
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Discover Savings Account Review

Make your money work with Discover® Bank high yield savings: high interest, no fees. Find out its benefits, drawbacks, and the easy way to open an account.

• Discover Bank vs Wells Fargo
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Discover CD Review

Maximize returns with Discover® Bank lucrative CD rates - no hidden fees. Read this detailed review.

• Discover Bank vs Marcus

Discover Bank Locations

Wondering if there is a Discover® Bank near you? Read this article to find out.

Who Owns Discover

You've probably heard of Discover credit cards, but what exactly is Discover® Bank? Is it a legitimate bank? Read on for all the details.

Is Discover Bank a Good and Real Bank

Looking for a safe bank with great rates? This analysis of Discover® Bank reveals all - is it legit? Find out now.

Is Discover Savings Worth It

Is your money secure in a high-yield Discover® savings account? Get your answers now.

Which Do You Think is Best?

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