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.
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Discover Bank | US Bank | |
|---|---|---|
Discover Online Savings - $200 Cash Bonus - | Business Checking Account - $300 Bonus - | |
Benefits and Features | ||
| Savings | 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. | |
| CD | 0.20% 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. |
| Checking | Earn 1% cashback on up to $3,000 in debit card purchases each month | Easy Checking, Gold Checking Package, Platinum Checking Package |
| Money Market | 0.30% 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 Live Customer Service (Telephone) | |
| ATMs | More than 4,700 ATMs across the country | |
| IRA CD | 12-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 | More than 3000 branches across the country. | |
CreditDonkey® Reviews | ||
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| Money Market | | |
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| CD | | |
| Pros & Cons | Pros:
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| Bottom Line | Solid online bank with high APY rates and good customer service... | Big national bank with wide array of services and many account options... |
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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 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 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.
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.
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 Savings Review
Discover Checking Review
Discover CD
Is Discover Savings Worth It
Discover Savings Bonus
Articles on US Bank
US Bank Review
US Bank Routing Number
Which Do You Think is Best?
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