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 and reviews.

	Discover Bank	Wells Fargo


	SPECIAL OFFER Discover Online Savings - $200 Cash Bonus - Learn More Read Discover Bank Review	SPECIAL OFFER Savings Account - $525 Bonus - Learn More Read Wells Fargo Review
	Benefits and Features
Savings	3.60% 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 4.75% APY depending on terms. $2,500 minimum	Standard Term CD: 0.50% to 2.00% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Bonus of up to 2.01% APY if you maintain a linked Portfolio by Wells Fargo relationship.
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	3.50% APY under $100,000; 3.55% 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 4.50%. 24-month CD APY of 4.30%. 5-year CD APY of 4.10%.	Standard Term CD: 0.01% to 2.00% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Bonus of up to 2.01% 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 4,500+ retail banking branches coast to coast.
	CreditDonkey® Reviews

Savings
Checking
Money Market
Customer Service
Mobile App
Pros & Cons	Pros: High yield No fees 24/7 customer service Cons: No interest checking $2,500 minimum deposit for CDs
Bottom Line	Solid online bank with high APY rates and good customer service... Read full review	Read full review

	Discover Online Savings - $200 Cash Bonus Discover Online Savings - $150 Cash Bonus Online Savings Account - Earn 3.60% APY	Savings Account - $525 Bonus Personal Checking Account - $325 Bonus Personal Checking Account - $2,500 Bonus
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 03/17/2023. Wells Fargo: Pricing information from published website as of 03/22/2023 based on 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 CY223 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 6/15/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Get Deal

Expires 6/15/2023

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 CY223 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 6/15/2023

Member FDIC

Online Savings Account - Earn 3.60% 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.

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 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.

Is Discover a Good Bank

Discover Bank promises great rates and no fees. But is it actually a good and safe bank? Find out if it is a real and legit bank.

Is Discover Savings Worth It

Looking for a better place to keep your money safe? Find out if a Discover Online Savings Account is worth it for you.

Discover Savings Bonus

You could earn $150 or $200 when you open a Discover Online Savings Account. Find out how to qualify for this Discover Bank promotion.

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.