Discover Bank vs Novo
Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Novo? Read our comparison chart below.
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Discover Bank | Novo | |
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Discover Online Savings - $200 Cash Bonus - | Powerfully Simple Business Banking - | |
Benefits and Features | ||
| Savings | No savings account, but you add up to 5 Reserves, which will not count in your spendable balance | |
| CD | 0.20% to 0.80% APY. Terms of 3 months to 10 years. 12-month CD APY of 0.50%. Minimum deposit of $2,500 to open. | |
| Checking | Earn 1% cashback on up to $3,000 in debit card purchases each month | No monthly fees; no balance requirements; $50 initial deposit to access all features |
| Money Market | 0.30% APY under $100,000; 0.35% APY $100,000 or more. $2,500 minimum deposit. | |
| APY | ||
| Customer Service | Monday - Friday 9 am - 6 pm EST | |
| Minimum Deposit Required | $50 to access all Novo's features | |
| ATMs | Unlimited reimbursement of all ATM fees worldwide | |
| Balance Requirement | ||
| IRA CD | 12-month CD APY of 0.50%. 24-month CD APY of 0.55%. 5-year CD APY of 0.80%. | |
| Locations | ||
CreditDonkey® Reviews | ||
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| Savings |   |  |
| Checking | | |
| Money Market | | |
| Customer Service | | |
| Mobile App | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Solid online bank with high APY rates and good customer service... | Fee-free online business checking with lots of good features... |
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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 01/28/2021 | ||
Discover Online Savings - $200 Cash Bonus
To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online or by phone. Enter Offer Code CY21 when applying. 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. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/15/21, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.
Discover Online Savings - $150 Cash Bonus
To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online or by phone. Enter Offer Code CY21 when applying. 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. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/15/21, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.
Online Savings Account - Earn 0.40% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Which is Better: Discover Bank or Novo?
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 and customer service are worth mentioning. In particular, the customer service is outstanding.
Articles on Discover Bank
Discover Bank Review
Discover Savings Review
Discover Checking Review
Discover CD
Discover Savings Bonus
Articles on Novo
