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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
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Discover Bank

US Bank

SPECIAL OFFER
Online Savings Account - Earn 2.10% APY - Learn More

Read Discover Bank Review

US Bank Checking Account Bonus - Learn More

Read US Bank Review

 

Benefits and Features

Savings2.10% APY. No fees and no minimum deposit.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.
CD0.35% to 3.05% APY. Terms of 3 months to 10 years. 12-month CD APY of 2.50%. 5-year CD APY of 2.85%. Minimum deposit of $2,500 to open.Standard Term CD: 0.05% - 0.75% APY. Terms ranging from 1 month - 60 months. Minimum deposit of $500. Maximum deposit $249,999. CD Special: 2.00% - 2.30% APY. Terms of 9, 17, 37 and 59 months. Minimum deposit of $1,000. Maximum deposit $249,999
CheckingEarn 1% cashback on up to $3,000 in debit card purchases each month. No fees and no minimum deposit. 
Money Market1.95% APY under $100,000; 2.00% APY $100,000 or more. No fees. $2,500 minimum deposit.0.03% - 0.06% APY, depending on amount. Minimum opening deposit $100. Monthly maintenance fee $10 unless you have $10,000 minimum 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 2.50%. 24-month CD APY of 2.60%. 5-year CD APY of 2.85%. 
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
Savings
Checking
Money Market
Customer Service
Mobile App
CD
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
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What Others View

    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 07/11/2019

    US Bank: Pricing information from published website as of 07/11/2019 based on 91107 zip code.

    Which is Better: Discover Bank or US 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, and money market are worth mentioning. In particular, the money market is outstanding.


    Articles on Discover Bank


    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?

    Which Do You Think is Best?

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