Capital One offers high interest rates without all the online fees, however it’s not as high compared to other online banks.
They also offer convenience checking and savings under one roof.
While Discover Bank is an online-only financial institution offering different banking services like checking, savings, money market and even CDs.
They offer high interest rates that are comparable to other big named banks, so be sure to check out all the products they have.
Continue reading below for a more in-depth look for both Capital One and Discover Bank. You can choose to see which one fits your needs the most.
|Locations||Online based banking||Online-only|
|ATMs||Over 39,000 no-fee Capital One & Allpoint ATMs||Over 60,000 no-fee ATMs|
|Pros||-Overdraft protection options
-No account minimums
-27 Capital One cafes for in-person support
-24/7 customer service
|Cons||-Low savings APY compared to other online banks||-No interest checking
-$2,500 minimum deposit for CDs
|Bottom Line||Capital One offers several banking products like checking and savings.||Discover Bank offers some of the highest interest rates on the market.|
Discover Bank Promotions
Open a Discover Online Savings Account for all these features:
• Earn $200/$150 Bonus with promo code HMB223 by 06/15/2023
• Earn high interest rate of 3.90% APY
• No minimum opening deposit, no minimum balance requirement, and now no fees
• Interest on Discover Online Savings Accounts is compounded daily and credited monthly
• Manage your account online or with the Discover mobile app
• FDIC insurance up to $250,000
• See advertiser website for full details
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 HMB223 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.
• Get started and open a Discover Money Market Account in 3 easy steps.
• Available nationwide online
• Earn high yields with flexible access to your cash.
• Earn 3.85% APY balances $100,000 and over
• Earn 3.80% APY balances under $100,000
• Open with as little as $2,500.
• No hidden fees. No surprises.
• Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs
• Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months
• Rates ranging from 2.00% APY up to 4.75% APY.
• Opening a Discover Bank Certificate of Deposit is extremely quick and easy.
• Funds on deposit are FDIC-insured up to the maximum allowed by law.
• Start today with a minimum deposit of $2,500!
• Get started and open a Discover CD in 3 easy steps.
• Available nationwide online
• Select terms as short as 3 months up to 120 months
• Rates ranging from 2.00% APY up to 4.75% APY
• Start today with as little as $2,500!
• Step-by-step help available 24/7 by phone
• Flexible options: Roth (pay now, save later) & Traditional IRAs (earn now, pay later)
• Gather your retirement savings into one place.
• Just three steps and you’re on your way to saving with a Discover IRA CD.
Capital One Promotions
Compare to Other Banks
- Capital One vs Wells Fargo
- Capital One vs Citibank
- Capital One vs HSBC Bank
- Ally Bank vs Capital One
- Capital One vs TD Bank
- M&T Bank vs Capital One
- Bank of America vs Capital One
- Discover Bank vs Chase
- Discover Bank vs Ally Bank
- Discover Bank vs Bank of America
- Discover Bank vs Wells Fargo
- Discover Bank vs KeyBank
- Discover Bank vs Regions Bank
Which Bank is Better: Capital One or Discover?
- Capital One has a good range of banking services. They are a good online bank that also has access to in-person support.
- Discover Bank’s savings and customer service are worth checking out since it offers high-interest rates compared to traditional savings accounts that pay very little interest.
For more variety of options, see our list of the best bank account bonuses & savings account offers.
More on Capital One:
- What Are Capital One’s Hours?
- How To Open a Capital One Account
- How To Find and Use Your Capital One Login
- Capital One Routing Number
More on Discover:
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