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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 | |
|---|---|---|
Online Savings Account - Earn 1.85% APY - | Checking and Savings Account - $650 Bonus - | |
Benefits and Features | ||
| Savings | 1.85% APY. No fees and no minimum deposit. | 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 | 0.35% to 2.40% APY. Terms of 3 months to 10 years. 12-month CD APY of 2.20%. Minimum deposit of $2,500 to open. | Standard Term CD: 0.05% - 0.45% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Special CD: 1.15% - 1.60% APY. Terms of 9, 29, and 39 months. Minimum deposit of $5,000. Bonus of up to 1.65% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account. |
| Checking | Earn 1% cashback on up to $3,000 in debit card purchases each month. No fees and no minimum deposit. | |
| Money Market | 1.70% APY under $100,000; 1.76% APY $100,000 or more. No fees. $2,500 minimum deposit. | Also known as the Platinum Savings Account. 0.05% APY. Minimum opening deposit of $25. $12 monthly service fee, unless you maintain a minimum daily balance of $3,500. Bonus APY of 0.10% 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 2.20%. 24-month CD APY of 2.25%. 5-year CD APY of 2.30%. | Standard Term CD: 0.01% - 0.45% APY. Terms of 1 month to 114 months. Minimum deposit of $1,000. Special CD: 1.15% - 1.60% APY. Terms of 9, 29, and 39 months. Minimum deposit of $2,500. Bonus of up to 1.65% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account. |
| IRA Money Market | 0.03% - 0.05% APY. $100 minimum opening deposit. | |
| Locations | More than 5,400 branches across the country. | |
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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| 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 10/17/2019 Wells Fargo: Pricing information from published website as of 10/12/19 based on 91107 zip code. | ||
Which is Better: Discover Bank or Wells Fargo?
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.
Articles on Discover Bank
Discover Bank
Discover CD Rates
Discover Checking Review
Discover Savings Review
Articles on Wells Fargo
Wells Fargo Bank Review
Which Do You Think is Best?
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