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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.

 Discover Bank
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Discover Bank

Wells Fargo

SPECIAL OFFER
Online Savings Account - Earn 0.40% APY - Learn More

Read Discover Bank Review

 

Benefits and Features

Savings
0.40% APY
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.
CD0.20% 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.
CheckingEarn 1% cashback on up to $3,000 in debit card purchases each month 
Money Market0.30% 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
24/7
Available 24 hours a day, 7 days a week.
ATMs
Over 60,000 no-fee ATMs
More than 13,000 ATMs across the country.
IRA CD12-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
Online Only
Approximately 5,400 retail banking branches coast to coast.
 

CreditDonkey® Reviews

 Discover Bank
SavingsStarStarStarStarHalf Star
CheckingStarStarStarStarEmpty Star
Money MarketStarStarStarStarHalf Star
Customer ServiceStarStarStarStarStar
Mobile AppStarStarStarStarStar
Pros & ConsPros:
  • High yield
  • Cashback checking
  • 24/7 customer service
Cons:
  • No interest checking
  • $2,500 minimum deposit for CDs
Bottom LineSolid online bank with high APY rates and good customer service... Read full review Read full review
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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 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.


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

Discover Bank online savings account offers a high interest rates and no monthly fees. But is it the right place for your money? Read on to find out, plus the best way to open an account.

Discover Checking

With Discover Bank's Cashback Debit account, you'll pay no fees and earn money for purchases. Learn more about these benefits—and some downsides—in our guide.

Discover CD Review

Discover Bank's CD account offers high rates and no hidden fees. But is the term worth it? Read this review before you open a CD.

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.

Wells Fargo Routing Number

Not all routing numbers are the same for Wells Fargo. Here's how to find the routing number for your bank account.

Which Do You Think is Best?





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