TD Bank vs Discover Bank

TD Bank is an east Coast bank with relatively low minimum balance requirements. How does it compare to Discover Bank? Read our comparison chart below.

TD Bank has over 1,100 locations on the East Coast. Known as "America's most convenient bank," it offers extended banking hours and 24/7 customer service by phone. Monthly service fees can be waived with somewhat low minimum balance requirements.

While 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.

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

	TD Bank	Discover Bank
	Member FDIC	Member FDIC
	Learn More	Visit Site
	SPECIAL OFFER TD $300 Beyond Checking Bonus - Learn More Read TD Bank Review	SPECIAL OFFER Online Savings Account - Earn 4.25% APY - Learn More Read Discover Bank Review
	Benefits and Features
Savings	0.02% APY. No minimum deposit. $5.00 monthly fee waived if 1) minimum $300 balance or 2) waived for the first 12 months if with recurring transfer of $25 or more from a TD Bank account or if you're under 18 or 62 and older.	4.25% APY
CD	1.00% APY (up to 5.00% for Bump Rate APY). Terms of 3 months to 5 years. Minimum deposit of $250. Allows one penalty-free withdrawal (depending on account).	2.00% to 4.70% APY depending on terms. $2,500 minimum
Checking	TD Simple Checking℠, TD Complete Checking, TD Beyond Checking	Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details
Money Market		4.00% APY under $100,000; 4.05% APY $100,000 or more. $2,500 minimum deposit.
ATMs	Approximately 700 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida	Over 60,000 no-fee ATMs
Customer Service	24/7 Live Customer Service (Telephone)	24/7
IRA CD	1.00% APY (up to 5.00% for Bump Rate APY). Terms of 3 months to 5 years. Minimum deposit of $250. Additional contributions and penalty-free withdrawal available (depending on account).	12-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	1175 locations	Online Only
	CreditDonkey® Reviews

Savings
CD
Checking
Money Market
Mobile App
Customer Service
Pros & Cons	Pros: Extended banking hours Low requirements to waive monthly fees No foreign transaction fees Cons: No free checking Low APY Only on East Coast	Pros: High yield No fees 24/7 customer service Cons: No interest checking $2,500 minimum deposit for CDs
Bottom Line	East Coast bank with relatively low minimum balance requirements... Read full review	Solid online bank with high APY rates and good customer service... Read full review
	Learn More	Visit Site
	TD $300 Beyond Checking Bonus TD $200 Complete Checking Bonus Referral Program - Up to $500 Bonus	Online Savings Account - Earn 4.25% APY Online Checking Account - Earn Cash Back Discover® Cashback Checking – Up to $30/Month Cashback
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. TD Bank: Pricing information from published website as of 03/15/2024 based on 08034 zip code. Discover Bank: Pricing information and data points from published website as of 04/09/2024.

Member FDIC

Online Savings Account - Earn 4.25% APY

Get Deal

No fees
No minimum opening deposit
No minimum balance required

Member FDIC

Online Checking Account - Earn Cash Back

1% cash back on up to $3,000 in debit card purchases each month. See website for details
No fees
Early Pay - Get your paycheck up to two days early with no charge
No credit impact - You can apply without affecting your credit score.
Access to over 60,000 no-fee ATMs in the U.S.

Apply Now

Member FDIC

Discover® Cashback Checking – Up to $30/Month Cashback

Earn 1% cash back on up to $3,000 in debit card purchases each month, for a total of up to $30 cashback per month. Discover Cashback Debit checking account has no minimum balance requirement, no fees, and free online bill pay. See website for details.

Get Deal

Which is Better: TD Bank or Discover Bank?

Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing TD Bank or Chase.

In short: Discover Bank's savings and money market are worth mentioning.

Articles on TD Bank

TD Bank Review

TD Bank offers extended customer hours and easy online banking. Are these perks worth it? Find out what makes TD Bank a great choice for you and some reasons to look elsewhere.

TD Beyond Checking Bonus

TD Bank is offering $300 to open a Beyond Checking account. Find out how to earn the bonus.

TD Bank Hours

TD Bank is open 7 days a week, depending on the location. Here's when you can visit a branch near you.

TD Bank Open Account

Open your TD Bank account with ease. All details in this comprehensive guide. Don't miss the bonus.

TD Bank Routing Number

Find your TD Bank routing number by state. Get the correct number with and without a check.

Articles on Discover Bank

Discover Bank

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.