Discover Bank vs SunTrust Bank
Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to SunTrust 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 SunTrust Bank has 1,400 branches in the Southeast region. Checking accounts require $100 to open and offers different ways to waive fees. Select Savings account offers an annual 1% bonus up to $25. Promotional CD offers a high APY with a $2,000 minimum opening deposit.
Compare Discover Bank with SunTrust Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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Discover Bank | SunTrust Bank | |
|---|---|---|
Online Savings Account - Earn 0.60% APY - | SunTrust Advantage Checking Account - $400 Bonus - | |
Benefits and Features | ||
| Savings | 0.01% APY for all savings account. For Essential Savings Account - no minimum opening deposit, no monthly maintenance fee, no tiered interest rates. For Select Savings Account - $100 minimum opening deposit, $7 monthly maintenance fee unless 1) minimum $25 per month auto-transfer from a SunTrust personal checking account or, 2) $1,000 minimum daily collected balance. Has tiered interest rates. | |
| CD | 0.25% to 0.80% APY. Terms of 3 months to 10 years. 12-month CD APY of 0.60%. Minimum deposit of $2,500 to open. | 0.05% APY. Terms ranging from 6 months - 24 months. $2000 minimum opening deposit. |
| Checking | Earn 1% cashback on up to $3,000 in debit card purchases each month | |
| Money Market | 0.45% APY under $100,000; 0.50% APY $100,000 or more. $2,500 minimum deposit. | Minimum opening deposit $100. Monthly maintenance fee $17 unless 1) one (1) automated transfer ($100 minimum) occurs, OR 2) a minimum daily collected balance of $10,000 is maintained. |
| Customer Service | 24/7 Telephone and Automated Customer Service | |
| ATMs | More than 2160 ATMs across 11 southeastern states and Washington DC. | |
| IRA CD | 12-month CD APY of 0.60%. 24-month CD APY of 0.65%. 5-year CD APY of 0.80%. | Terms ranging from 1 - 10 years. |
| Locations | 1400 bank branches across 11 southeastern states and Washington D.C. | |
CreditDonkey® Reviews | ||
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| Pros & Cons | Pros:
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| Bottom Line | Solid online bank with high APY rates and good customer service... | Southeastern regional bank known for good customer service... |
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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 from published website as of 9/18/2020 SunTrust Bank: Pricing information from published website as of 09/17/2020 based on 91107 zip code. | ||
Which is Better: Discover Bank or SunTrust 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 savings, 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 Savings Account
Discover Checking Review
Discover Bank Cd Rates
Articles on SunTrust Bank
Suntrust Bank Reviews
Which Do You Think is Best?
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 Chase Checking Account BonusChase is currently offering cash bonuses for opening a new checking account. See the current checking account bonus promotions before they expire. | ||