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.
Whereas, Chase is one of the biggest banks in the Unites States, they offer everything from personal banking to mortgages to loans, as well as a popular range of credit cards.
Not to mention, they offer more checking options compared to other competitors.
Continue reading below to see a side-by-side comparison between Discover and Bank of America, so you can see which one offers the services you need the most.
| PROMOTIONAL LINK | OFFER | REVIEW |
| Discover® Bank Online Savings terms apply | $150/$200 bonus + 3.40% APY | Review |
| Discover® Bank CD | Up to 4.00% APY | Review |
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| Discover | Bank of America | |
| Locations | Online Only | Over 5,000 locations (Locator) |
| ATMs | Over 60,000 no-fee ATMs | Over 5,000 locations (Locator) |
| Savings | 4.5/5 | 3/5 |
| CD | 2/5 | |
| Checking | 4.5/5 | 2.5/5 |
| Money Market | 5/5 | |
| Customer Service | 5/5 | 4/5 |
| Mobile App | 5/5 | 4.5/5 |
| Pros | -High yield -Cashback checking -24/7 customer service |
-National availability -Extended customer service hours -Full service bank |
| Cons | -No interest checking -$2,500 minimum deposit for CDs |
-No free checking option – Low interest rate -Many miscellaneous banking fees |
| Bottom Line | Discover Bank offers some of the highest interest rates on the market. | Bank of America operates nationwide offering many account options like checking, savings, and more! |
Discover Bank Promotions
 • 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 4.00% 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. • Get started and open a Discover CD in 3 easy steps. |
Compare to Other Banks
Bottom Line
Which Bank is Better: Discover or Bank of America?
In summary:
- 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.
- Bank of America has many account options and their user friendly interface and mobile app is noteworthy. However, they aren’t as widespread as Wells Fargo.
For more variety of options, see our list of the best bank account bonuses & savings account offers.
More on Discover:
More on Bank of America:
- How To Open a Bank of America Checking Account
- What Are Bank of America’s Hours?
- How To Find and Use Your Bank of America Login
- Bank of America Routing Number
- BBVA vs Bank of America
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