Discover Bank vs Wells Fargo
Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Wells Fargo? 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 Wells Fargo is one of America's largest banks with over 5,400 locations and 13,000 ATMs. Offers many checking options, including Teen Checking and Opportunity Checking for those who had financial troubles. 24/7 customer service. Special CDs offers high rates with $5,000 minimum opening deposit.
Compare Discover Bank with Wells Fargo, side-by-side. Read on for an in-depth look, including ratings and reviews.
![]() | ||
![]() | ![]() | |
Discover Bank | Wells Fargo | |
---|---|---|
Online Savings Account - Earn 0.40% APY - | ||
Benefits and Features | ||
Savings | 0.01% APY. Minimum opening deposit of $25. Monthly service fee of $5, unless you maintain a minimum daily balance of $300, or are under the age of 18. | |
CD | 0.20% to 0.60% APY. Terms of 3 months to 10 years. 12-month CD APY of 0.50%. Minimum deposit of $2,500 to open. | Standard Term CD: 0.01% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Bonus of up to 0.02% APY if you maintain a linked Portfolio by Wells Fargo relationship. |
Checking | Earn 1% cashback on up to $3,000 in debit card purchases each month | |
Money Market | 0.30% APY under $100,000; 0.35% APY $100,000 or more. $2,500 minimum deposit. | Also known as the Platinum Savings Account. 0.01% APY. Minimum opening deposit of $25. $12 monthly service fee, unless you maintain a minimum daily balance of $3,500. Bonus APY of 0.02% requires account linked to Portfolio by Wells Fargo relationship. |
Customer Service | Available 24 hours a day, 7 days a week. | |
ATMs | More than 13,000 ATMs across the country. | |
IRA CD | 12-month CD APY of 0.50%. 24-month CD APY of 0.50%. 5-year CD APY of 0.60%. | Standard Term CD: 0.01% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Bonus of up to 0.02% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account. |
IRA Money Market | 0.01% APY. $100 minimum opening deposit. | |
Locations | Approximately 5,400 retail banking branches coast to coast. | |
CreditDonkey® Reviews | ||
![]() | ||
Savings | ![]() ![]() ![]() ![]() ![]() | |
Checking | ![]() ![]() ![]() ![]() ![]() | |
Money Market | ![]() ![]() ![]() ![]() ![]() | |
Customer Service | ![]() ![]() ![]() ![]() ![]() | |
Mobile App | ![]() ![]() ![]() ![]() ![]() | |
Pros & Cons | Pros:
| |
Bottom Line | Solid online bank with high APY rates and good customer service... | |
![]() | ![]() | |
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 Wells Fargo: Pricing information from published website as of 2/25/2021. based on 91107 zip code. |
Which is Better: Discover Bank or Wells Fargo?
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.