Discover Bank vs Regions Bank

Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Regions 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 Regions Bank has 1,500 branches in 15 states in the South and Midwest. Checking and savings accounts require just $50 to open, with relatively lower requirements to waive fees. The unique Now Banking solution offers prepaid Visa, savings, and check cashing services with no account required.

Compare Discover Bank with Regions Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

	Discover Bank	Regions Bank


	SPECIAL OFFER Online Savings Account - Earn 1.85% APY - Learn More Read Discover Bank Review	SPECIAL OFFER LifeGreen Savings Account – Up to $100 Annual Savings Bonus - Learn More Read Regions Bank Review
	Benefits and Features
Savings	1.85% APY. No fees and no minimum deposit.	Two types of Savings Account - Regions Savings, and Regions Lifegreen Savings. 0.01% APY. Regions Savings Account - minimum opening deposit $50. $5 monthly maintenance fee, unless you have $300 minimum daily balance. Regions Lifegreen Account - minimum opening deposit $50. Must have Regions Checking Account. No monthly maintenance fee.
CD	0.35% to 2.40% APY. Terms of 3 months to 10 years. 12-month CD APY of 2.20%. Minimum deposit of $2,500 to open.	0.01% - 0.50% APY. Terms ranging from 1 - 72 months. (Promotional rate of 1.25% - 1.40% APY for 8 - 11 Months) $500 minimum opening deposit for CDs with terms 90 days or longer. $2,500 minimum opening deposit for CDs with terms 7 - 89 days.
Checking	Earn 1% cashback on up to $3,000 in debit card purchases each month. No fees and no minimum deposit.
Money Market	1.70% APY under $100,000; 1.76% APY $100,000 or more. No fees. $2,500 minimum deposit.	Two types of Money Market accounts - Regions Money Market Account and Premium Money Market Account. Regions Money Market: $12 monthly fee. Premium Money Market: $15 monthly fee.
Customer Service	24/7	24/7 Telephone Customer Service
ATMs	Over 60,000 no-fee ATMs	More than 1900 ATMs in 15 Southern and Midwestern US states.
IRA CD	12-month CD APY of 2.20%. 24-month CD APY of 2.25%. 5-year CD APY of 2.30%.	0.10% - 0.50% APY. (Promotional rate of 1.25% - 1.40% APY for 8 - 11 Months) Terms ranging from 6 months - 72 months. $250 minimum opening deposit.
IRA Money Market		0.01% APY. Minimum $50 opening deposit.
Locations	Online Only	More than 1500 branches in 15 Southern and Midwestern US states.
	CreditDonkey® Reviews

Savings
Checking
Money Market
Customer Service
Mobile App
CD
Pros & Cons	Pros: High yield Cashback checking 24/7 customer service Cons: No interest checking $2,500 minimum deposit for CDs	Pros: $50 to open checking account Relationship Rewards program LifeGreen Savings annual bonus Cons: No free checking option Limited branches Low savings APY
Bottom Line	Solid online bank with high APY rates and good customer service... Read full review	South and Midwest bank with special reward programs... Read full review

	Online Savings Account - Earn 1.85% APY Discover Online Savings - $150 Cash Bonus Discover Online Savings - $200 Cash Bonus	LifeGreen Savings Account – Up to $100 Annual Savings Bonus LifeGreen® Checking Account - $200 Cash Bonus Regions Refer a Business - $150 Visa Reward Card
What Others View		Chase
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 10/17/2019 Regions Bank: Pricing information from published website as of 10/19/2019 based on 35203 zip code.

Which is Better: Discover Bank or Regions 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 checking, money market, customer service, and mobile app are worth mentioning. In particular, the money market, customer service, and mobile app are outstanding.

Articles on Discover Bank

Discover Bank

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 CD Rates

Discover Bank's CD account offers high rates and no hidden fees. But is the term length worth it? Read this in-depth review before you open an CD

Discover Checking Review

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 Bank vs Marcus

Discover Savings Review

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.

Articles on Regions Bank

Regions Bank Review

Regions Bank offers a variety of deposit products, easy account opening requirements, and special reward programs. Read on to see if this bank is right for you.

Which Do You Think is Best?

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