Discover Bank vs Relay

Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Relay? 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. There are no service fees.

While Relay lets you open up to 20 individual business checking accounts and 50 debit cards at no extra charge. There's also free cash deposits and free mailed checks through the app. There's no monthly fee.

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

	Discover Bank	Relay
	Member FDIC
	Visit Site	Visit Site
	SPECIAL OFFER Discover Online Savings - $200 Cash Bonus - Learn More Read Discover Bank Review	SPECIAL OFFER No-Fee Business Checking - Learn More Read Relay Review
	Benefits and Features
Savings	4.35% APY	Earn up to 3% APY: Earn 1% APY on savings balances of less than $50,000, 1.5% APY on savings between $50,000 and $250,000, 2% APY on savings balances between $250,000 and $1,000,000 and 3% APY on savings balances of more than $1,000,000.
CD	2.00% to 5.30% APY depending on terms. $2,500 minimum
Checking	Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details	Up to 20 individual business checking accounts; no monthly fees; no overdraft fees
Money Market	4.20% APY under $100,000; 4.25% APY $100,000 or more. $2,500 minimum deposit.
APY		N/A
Customer Service	24/7	Phone: Monday - Friday, 9 am - 5 pm ET; Email: Everyday
Minimum Deposit to Open		$0
ACH Transfer Fee		$0
ATMs	Over 60,000 no-fee ATMs	55,000+ AllPoint ATMs
Balance Requirement		None
Cash Deposit Fee		$0 for cash deposits at Allpoint ATMs
Incoming Wire Transfer Fee		$0
IRA CD	12-month CD APY of 5.20%. 18-month CD APY of 5.00%. 24-month CD APY of 4.40%. 5-year CD APY of 4.00%.
Locations	Online Only	Online only
Out of Network ATM Fee		Fee from ATM owner
Outgoing Wire Transfer Fee		$5 for domestic; $10 for international
Overdraft Fee		$0
Monthly Fee		$0
	CreditDonkey® Reviews

Savings
Checking
Money Market
Customer Service
Mobile App
Fees
Pros & Cons	Pros: High yield No fees 24/7 customer service Cons: No interest checking $2,500 minimum deposit for CDs	Pros: Up to 20 checking accounts Up to 50 debit cards $0 monthly fee Earn interest with automated savings Cons: No paper checks
Bottom Line	Solid online bank with high APY rates and good customer service... Read full review	One of the best online business banking accounts for large teams... Read full review
	Visit Site	Visit Site
	Discover Online Savings - $200 Cash Bonus Discover Online Savings - $150 Cash Bonus Online Savings Account - Earn 4.35% APY	No-Fee Business Checking
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 11/24/2023.

Member FDIC

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, in the Discover App or by phone. Enter Offer Code CY923 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 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/14/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Get Deal

Expires 12/14/2023

Member FDIC

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, in the Discover App or by phone. Enter Offer Code CY923 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.

Get Deal

Expires 12/14/2023

Member FDIC

Online Savings Account - Earn 4.35% APY

Get Deal

No fees
No minimum opening deposit
No minimum balance required

No-Fee Business Checking

$0 monthly service fee
$0 minimum opening deposit
Open up to 20 individual business checking accounts
Earn up to 3% APY with automated savings
Issue up to 50 Visa® debit cards to your team

Banking services provided by Thread Bank and Evolve Bank & Trust; Members FDIC.

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Which is Better: Discover Bank or Relay?

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 customer service is outstanding. Relay's checking is excellent.

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.