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. There are no service fees.

While Wells Fargo is one of America's largest banks with over 4,500 locations and 12,000 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, reviews, pros and cons.

	Discover Bank	Wells Fargo
	Member FDIC
	Visit Site	Learn More
	SPECIAL OFFER Discover Online Savings - $200 Cash Bonus - Learn More Read Discover Bank Review	SPECIAL OFFER IRA Certificate of Deposit - Up to 4.50% APY - Learn More Read Wells Fargo Review
	Benefits and Features
Savings	4.35% APY	0.15% APY. Minimum opening deposit of $25. Monthly service fee of $5, unless you maintain a minimum daily balance of $300, make 1 automatic transfer each fee period of $25 or more from a linked Wells Fargo checking account, make 1 automatic transfer each business day within the fee period of $1 or more from a linked Wells Fargo checking account, make 1 or more Save As You Go® transfers from a linked Wells Fargo checking account, or primary account owner is 24 years old or under.
CD	2.00% to 5.30% APY depending on terms. $2,500 minimum	Standard Fixed Term CD available online: 1.50% to 4.50% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Bonus of up to 4.51% APY if you maintain a linked Portfolio by Wells Fargo relationship. More CD terms are available in branch.
Checking	Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details	Clear Access Banking, Everyday Checking, Portfolio by Wells Fargo
Money Market	4.20% APY under $100,000; 4.25% APY $100,000 or more. $2,500 minimum deposit.	Also known as the Platinum Savings Account. 0.25% - 2.50% APY. Minimum opening deposit of $25. $12 monthly service fee, unless you maintain a minimum daily balance of $3,500. Bonus APY of 2.51% requires account linked to Portfolio by Wells Fargo relationship.
Customer Service	24/7	Available 24 hours a day, 7 days a week.
ATMs	Over 60,000 no-fee ATMs	More than 12,000 ATMs across the country.
IRA CD	12-month CD APY of 5.20%. 18-month CD APY of 5.00%. 24-month CD APY of 4.40%. 5-year CD APY of 4.00%.	Standard Term CD: 0.01% to 4.50% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Bonus of up to 4.51% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account.
IRA Money Market		Also known as Retirement High Yield Savings. 0.25% - 2.50% APY. $100 minimum opening deposit.
Locations	Online Only	Approximately 4,500+ retail banking branches coast to coast.
	CreditDonkey® Reviews

Savings
Checking
Money Market
Customer Service
Mobile App
CD
Pros & Cons	Pros: High yield No fees 24/7 customer service Cons: No interest checking $2,500 minimum deposit for CDs	Pros: Low requirements for Everyday Checking Full service bank 24/7 customer service Cons: Low savings rates Not in all states
Bottom Line	Solid online bank with high APY rates and good customer service... Read full review	A "big 4" bank with a good range of checking accounts and full services... Read full review
	Visit Site	Learn More
	Discover Online Savings - $200 Cash Bonus Discover Online Savings - $150 Cash Bonus Online Savings Account - Earn 4.35% APY	IRA Certificate of Deposit - Up to 4.50% APY Clear Access Banking Everyday Checking
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 12/05/2023. Wells Fargo: Pricing information from the published website as of 12/05/2023 is based on the 91107 zip code.

Member FDIC

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, in the Discover App or by phone. Enter Offer Code CY923 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 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/14/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Get Deal

Expires 12/14/2023

Member FDIC

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, in the Discover App or by phone. Enter Offer Code CY923 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.

Get Deal

Expires 12/14/2023

Member FDIC

Online Savings Account - Earn 4.35% APY

Get Deal

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.

In short: Discover Bank's savings is worth mentioning.

Articles on Discover Bank

Discover Savings Review

Discover offers high interest rates on its online savings and CD accounts. But there are downsides. Here's what you need to know before you open an account.

Discover Savings Account Review

Make your money work with Discover high yield savings: high interest, no fees. Find out its benefits, drawbacks, and the easy way to open an account.

Discover CD Review

Maximize returns with Discover Bank's lucrative CD rates - no hidden fees. Read this detailed review.

Discover Checking Account Minimum Balance

Discover's Cashback Debit doesn't have a minimum balance. But what's the catch? Read on for all the details.

Discover Checking Account Requirements

Discover's checking account offers no monthly fees and a rewarding cashback program. Here's what you need to open an account today.

Discover Money Market vs Savings

Discover boasts solid rates for both their money market and savings accounts. Find out which one is more suited for you.

Is Discover a Good Bank

Looking for a safe bank with great rates? This analysis of Discover Bank reveals all - is it legit? Find out now.

Is Discover Savings Worth It

Is your money secure in a high-yield Discover savings account? Get your answers now.

Discover High Yield Savings Bonus

Earn up to $200 bonus by opening a Discover Online Savings Account. Find out how to qualify with the correct bonus.

Articles on Wells Fargo

Wells Fargo Bank Review

Wells Fargo offers nationwide access with thousands of ATMs and branch locations. But are their checkings and savings accounts right for you? Read on to see the best options.