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Discover Bank vs Western Alliance Bank

Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Western Alliance Bank? 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 Western Alliance Bank offers high-yield savings products and CD accounts.

Compare Discover Bank with Western Alliance Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 Discover Bank
Member FDIC
Western Alliance Bank
Member FDIC
 Visit SiteVisit Site
 

Discover Bank

Western Alliance Bank

SPECIAL OFFER
Discover® Online Savings - $200 Cash Bonus - Learn More

Read Discover Bank Review

SPECIAL OFFER
High-Yield Savings Premier - 5.36% APY

Read Western Alliance Bank Review

 

Benefits and Features

Savings
4.25% APY
5.36% APY
CD2.00% to 4.70% APY depending on terms. $2,500 minimumUp to 5.30%; 3-12 month term CDs. $1 minimum deposit.
CheckingCashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details
N/A
Money Market4.00% APY under $100,000; 4.05% APY $100,000 or more. 
ATMs
Over 60,000 no-fee ATMs
 
Customer Service
24/7
 
IRA CD12-month CD APY of 4.70%. 18-month CD APY of 4.40%. 24-month CD APY of 4.00%. 5-year CD APY of 3.75%. 
Locations
Online Only
35 locations
 

CreditDonkey® Reviews

 Discover BankWestern Alliance Bank
SavingsStarStarStarStarHalf StarStarStarStarStarStar
CheckingStarStarStarStarEmpty Star
Money MarketStarStarStarStarHalf Star
Mobile AppStarStarStarStarStarStarStarHalf StarEmpty StarEmpty Star
Customer ServiceStarStarStarStarStarStarStarStarEmpty StarEmpty Star
CDStarStarStarStarStar
FeesStarStarStarStarStar
Pros & ConsPros:
  • High yield
  • No fees
  • 24/7 customer service
Cons:
  • No interest checking
  • $2,500 minimum deposit for CDs
Pros:
  • High APY
  • No account activity or maintenance fees
Cons:
  • No debit card or checks
Bottom LineSolid online bank with high APY rates and good customer service... Read full reviewSolid bank that offers high APY savings products with a fully digital experience... Read full review
 Visit SiteVisit Site

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 06/14/2024.

Western Alliance Bank: Information sourced from the published website as of 04/30/2024.

Discover Bank
Member FDIC

Discover® Online Savings - $200 Cash Bonus

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY624 at application, 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. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. 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 subject to tax reporting. Offer ends 09/12/2024, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Expires 9/12/2024
Discover Bank
Member FDIC

Discover® Online Savings - $150 Cash Bonus

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY624 at application, 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. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. 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 subject to tax reporting. Offer ends 09/12/2024, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Expires 9/12/2024
Discover Bank
Member FDIC

Online Savings Account - Earn 4.25% APY

  • No fees
  • No minimum opening deposit
  • No minimum balance required
High-Yield Savings Premier - 5.36% APY

High-Yield Savings Premier - 5.36% APY

  • No account activity or maintenance fees
  • $500 minimum opening deposit
  • FDIC insured
5.36% annual percentage yield (APY) is accurate as of 1/17/2024 and subject to change at the Bank's discretion. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY. Member FDIC
Western Alliance Bank
Member FDIC

3-Month High-Yield CD - 5.21% APY

  • No fees
  • $1 minimum deposit
  • 24/7 online access
  • FDIC insured
Western Alliance Bank
Member FDIC

5-Month High-Yield CD - 5.16% APY

  • No fees
  • $1 minimum deposit
  • 24/7 online access
  • FDIC insured

Which is Better: Discover Bank or Western Alliance Bank?

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 mobile app and customer service are outstanding.


Articles on Discover Bank

Discover Savings Review

Discover® Bank 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

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

Discover CD Rates

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

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.

Discover Bank Locations

Wondering if there is a Discover® Bank near you? Read this article to find out.

Discover Checking Account Fees

Does Discover® Cashback Debit have any fees? Find out if they are completely fee-free.

Who Owns Discover

You've probably heard of Discover credit cards, but what exactly is Discover® Bank? Is it a legitimate bank? Read on for all the details.

Discover Checking Account Minimum Balance

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

Discover Checking Account Requirements

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

Discover Savings vs Money Market

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

Is Discover Bank a Good and Real 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.

Articles on Western Alliance Bank

Western Alliance Bank Review

Western Alliance Bank offers savings products with competitive APYs for people looking to grow their money. Is there a catch? Read on to find out.

Which Do You Think is Best?





Which Bank Account is Right for You?


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