Discover Bank vs Varo Bank
Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Varo Bank? Read our comparison chart below.
Visit Site | Learn More | |
Discover Bank | Varo Bank | |
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Online Savings Account - Earn 4.25% APY - | Online Savings Account - | |
Benefits and Features | ||
Savings | 3.00% APY on all balances. Opportunity to earn 5.00% APY if your daily savings balance does not exceed $5,000 AND you make at least 5 Varo debit card purchases per month AND receive at least $1,000 in direct deposits in either the Varo Bank Account or Savings Account. | |
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 | No monthly service fee; no minimum balance; no overdraft fees |
Monthly Fee | ||
Money Market | 4.00% APY under $100,000; 4.05% APY $100,000 or more. $2,500 minimum deposit. | |
Minimum Deposit to Open | ||
Mobile App | ||
ATMs | Over 55,000 fee-free AllPoint ATMs | |
Customer Service | Mon-Fri 8am - 9pm (ET) and Sat-Sun 11am to 7pm (ET) | |
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 | ||
CreditDonkey® Reviews | ||
Savings | ||
Checking | ||
Money Market | ||
Mobile App | ||
Customer Service | ||
Pros & Cons | Pros:
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Bottom Line | Solid online bank with high APY rates and 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 and data points from published website as of 03/15/2024. Varo Bank: Pricing information from published website as of 11/08/2023. |
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.
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.