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Discover Bank vs US Bank

Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to US 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 US Bank has 3,000 branches across 26 states. It has somewhat high minimum balance requirements to waive monthly checking account service fees. Their promotional CD Special offers high interest rates with a $1,000 minimum opening deposit.

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

 Discover Bank
 Visit SiteLearn More
 

Discover Bank

US Bank

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

Read Discover Bank Review

SPECIAL OFFER
Business Checking Account - $300 Bonus - Learn More

Read US Bank Review

 

Benefits and Features

Savings
0.40% APY
0.01% APY. Minimum deposit $25. Monthly maintenance fee $4, unless you have $300 minimum daily ledger balance OR $1,000 average monthly collected balance.
CD0.20% to 1.00% APY. Terms of 3 months to 10 years. 12-month CD APY of 0.55%. Minimum deposit of $2,500 to open.Standard Term CD: 0.05% - 0.25% APY. Terms ranging from 1 month - 60 months. Minimum deposit of $500. Maximum deposit $249,999. CD Special: 0.15% APY - 0.75% APY. Terms of 21 month - 59 months. Minimum deposit of $1,000. Maximum deposit $249,999.
CheckingEarn 1% cashback on up to $3,000 in debit card purchases each monthEasy Checking, Gold Checking Package, Platinum Checking Package
Money Market0.30% APY under $100,000; 0.35% APY $100,000 or more. $2,500 minimum deposit.0.01% APY, depending on amount. Minimum opening deposit $100. Monthly maintenance fee $10 unless you have $10,000 daily ledger balance.
Customer Service
24/7
24/7 Live Customer Service (Telephone)
ATMs
Over 60,000 no-fee ATMs
More than 4,700 ATMs across the country
IRA CD12-month CD APY of 0.55%. 24-month CD APY of 0.65%. 5-year CD APY of 1.00%. 
IRA Money Market Minimum opening deposit of $100 or $25 automatic monthly deposit. No monthly maintenance fees.
Locations
Online Only
More than 3000 branches across the country.
 

CreditDonkey® Reviews

 Discover Bank
SavingsStarStarStarStarHalf StarStarStarStarEmpty StarEmpty Star
CheckingStarStarStarStarEmpty StarStarStarStarEmpty StarEmpty Star
Money MarketStarStarStarStarHalf StarStarStarStarEmpty StarEmpty Star
Customer ServiceStarStarStarStarStarStarStarStarStarHalf Star
Mobile AppStarStarStarStarStarStarStarStarStarHalf Star
CDStarStarStarStarEmpty Star
Pros & ConsPros:
  • High yield
  • Cashback checking
  • 24/7 customer service
Cons:
  • No interest checking
  • $2,500 minimum deposit for CDs
Pros:
  • Promo CD with high APY
  • Free student account
  • 24/7 customer service
Cons:
  • High minimums to waive fees
  • Low savings APY
Bottom LineSolid online bank with high APY rates and good customer service... Read full reviewBig national bank with wide array of services and many account options... 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 01/28/2021

US Bank: Pricing information from published website as of 11/26/2021 based on 91107 zip code.

Discover Bank
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 or by phone. Enter Offer Code CY21 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 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/15/21, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Expires in 7 days
Discover Bank
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 or by phone. Enter Offer Code CY21 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 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/15/21, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Expires in 7 days
Discover Bank
Member FDIC

Online Savings Account - Earn 0.40% APY

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

Which is Better: Discover Bank or US 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 savings, checking, and money market are worth mentioning.


Articles on Discover Bank

Discover Savings Review

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 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.

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 CD

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

Is Discover Savings Worth It

Looking for a better place to keep your money safe? Find out if a Discover Online Savings Account is worth it for you.

Discover Savings Bonus

You could earn $150 or $200 when you open a Discover Online Savings Account. Find out how to qualify for this 2021 Discover Bank promotion.

Articles on US Bank

US Bank Review

U.S. Bank is the country's fifth largest bank, but does that make them a bank that will suit your banking needs? Do you need one of the country's largest banks or is a smaller bank more your style?

US Bank Routing Number

To transfer money in or out of your US Bank checking or savings account, you'll need the right routing number. Find your US Bank routing number below.

Which Do You Think is Best?





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