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.
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Discover Bank | Wells Fargo | |
|---|---|---|
Discover Online Savings - $200 Cash Bonus - | Personal Checking Account - $200 Bonus - | |
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 primary account owner is 24 years old | |
| CD | 0.20% to 0.80% 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 | Clear Access Banking, Everyday Checking, Portfolio by Wells Fargo |
| 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 0.55%. 5-year CD APY of 0.80%. | 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 | ||
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| Checking |  | |
| Money Market | | |
| Customer Service | | |
| Mobile App | | |
| 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 01/28/2021 Wells Fargo: Pricing information from published website as of 9/17/2021 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 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.
Articles on Discover Bank
Discover Savings Review
Discover Savings Account Review
Discover Checking
Discover CD Review
Discover Savings Bonus
Articles on Wells Fargo
Wells Fargo Bank Review
Wells Fargo Bank Hours
Wells Fargo Routing Number
Which Do You Think is Best?
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