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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. There are no service fees.

While Regions Bank has 1,250+ 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 and pros.

 Discover Bank
Member FDIC
 Visit SiteLearn More
 

Discover Bank

Regions Bank

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

Read Discover Bank Review

SPECIAL OFFER
LifeGreen Business Checking® - Learn More

Read Regions Bank Review

 

Benefits and Features

Savings
3.50% APY
0.01% APY
CD2.00% to 4.20% APY depending on terms0.01% - 0.05% APY (Up to 3.75% APY for Promotional Relationship)
Mobile App
iOS & Android
 
ATMs
Over 60,000 no-fee ATMs
2,000+ ATMs in 15 Southern and Midwestern US states.
Customer Service
24/7
24/7 Telephone Customer Service
IRA CD 
Check
Locations
Online Only
1,250+ branches in 15 Southern and Midwestern US states.
 

CreditDonkey® Reviews

 Discover Bank
SavingsStarStarStarStarHalf StarStarStarStarStarEmpty Star
CheckingStarStarStarStarEmpty StarStarStarStarHalf StarEmpty Star
Money MarketStarStarStarStarHalf StarStarStarStarEmpty StarEmpty Star
Mobile AppStarStarStarStarStarStarStarStarEmpty StarEmpty Star
Customer ServiceStarStarStarStarStarStarStarStarHalf StarEmpty Star
CDStarStarStarHalf StarEmpty Star
Pros & ConsPros:
  • High yield
  • No fees
  • 24/7 customer service
Pros:
  • $50 to open checking account
  • Relationship Rewards program
  • LifeGreen Savings annual bonus
Cons:
  • No free checking option
  • Limited branches
  • Low savings APY
Bottom LineSolid online bank with high APY rates and good customer service... Read full reviewSouth and Midwest bank with special reward programs... Read full review
 Visit SiteLearn More

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 07/22/2025.

Regions Bank: Pricing information from published website as of 06/07/2025 based on 35203 zip code.

Discover Bank
Member FDIC

Discover® Online Savings - $200 Cash Bonus

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY325 at application, 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. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank. See advertiser website for full details.

Expires 9/11/2025
Discover Bank
Member FDIC

Discover® Online Savings - $150 Cash Bonus

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY325 at application, 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. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank. See advertiser website for full details.

Expires 9/11/2025
Discover Bank
Member FDIC

Online Savings Account - Earn 3.50% APY

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

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


Articles on Discover Bank

Discover Bank

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 Savings

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 CD

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

Discover Bank Bonus

Want to get cash bonuses on a Discover® Bank Online Savings Account? Read on to learn about the promotions currently available.

Discover Savings Bonus

Earn up to $200 bonus by opening a Discover® Online Savings Account. Find out how to qualify with the correct bonus.

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.

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?





Which Bank Account is Right for You?


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CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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