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.
Visit Site | Visit Site | |
Discover Bank | Relay | |
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Online Savings Account - Earn 4.25% APY - | No-Fee Business Checking - | |
Benefits and Features | ||
Savings | 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 4.70% 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 |
Monthly Fee | ||
Money Market | 4.00% APY under $100,000; 4.05% APY $100,000 or more. $2,500 minimum deposit. | |
APY | ||
Minimum Deposit to Open | ||
ACH Transfer Fee | ||
ATMs | ||
Balance Requirement | ||
Cash Deposit Fee | $0 for cash deposits at Allpoint ATMs | |
Customer Service | Phone: Monday - Friday, 9 am - 5 pm ET; Email: Everyday | |
Incoming Wire Transfer Fee | ||
IRA CD | 12-month CD APY of 4.70%. 18-month CD APY of 4.40%. 24-month CD APY of 4.00%. 5-year CD APY of 3.75%. | |
Locations | ||
Out of Network ATM Fee | ||
Outgoing Wire Transfer Fee | $5 for domestic; $10 for international | |
Overdraft Fee | ||
CreditDonkey® Reviews | ||
Savings | ||
Checking | ||
Money Market | ||
Mobile App | ||
Customer Service | ||
Fees | ||
Pros & Cons | Pros:
| Pros:
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Bottom Line | Solid online bank with high APY rates and good customer service... | One of the best online business banking accounts for large teams... |
Visit Site | Visit Site | |
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 03/15/2024. |
Online Savings Account - Earn 4.25% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Online Checking Account - Earn Cash Back
- 1% cash back on up to $3,000 in debit card purchases each month. See website for details
- No fees
- Early Pay - Get your paycheck up to two days early with no charge
- No credit impact - You can apply without affecting your credit score.
- Access to over 60,000 no-fee ATMs in the U.S.
Discover® Cashback Checking – Up to $30/Month Cashback
Earn 1% cash back on up to $3,000 in debit card purchases each month, for a total of up to $30 cashback per month. Discover Cashback Debit checking account has no minimum balance requirement, no fees, and free online bill pay. See website for details.
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
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.