They offer high interest rates that are comparable to other big named banks, so be sure to check out all the products they have.
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.
|Discover Bank Online Savings||$200 Cash||Review|
|Discover Checking||$360 Cash Back||Review|
|Discover Bank CD||Up to 2.85% APY||Review|
|Discover Bank Money Market||Up to 0.95% APY||Review|
|Discover Bank IRA CD||Up to 2.85% APY||Review|
|Discover||Bank of America|
|Locations||Online Only||Over 5,000 locations (Locator)|
|ATMs||Over 60,000 no-fee ATMs||Over 5,000 locations (Locator)|
-24/7 customer service
-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
Open a Discover Online Savings Account for all these features:
• Bonus offer applies for your first Discover Online Savings Account
• Earn $200/$150 Bonus with promo code HMB622 by 09/15/2022
• Fund your first savings account with at least of $25K within 30 days of account open date to earn the $200 Bonus
• Fund your first savings account with at least of $15K within 30 days of account open date to earn the $150 Bonus
• Earn high interest rate of 1.00% 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
With the Discover Checking Account:
• Cashback – Earn 1% cash back on up to $3,000 in debit card purchases each month
• No. Fees. Period. That means you won’t be charged an account fee on our Cashback Debit account.
• Early Pay – Get your paycheck up to two days early with no charge
• No credit impact - You can apply without affecting your credit score.
• Fraud Protection - You’re never responsible for unauthorized debit card purchases. If you suspect someone else has used your debit card without your permission, let us know.
• Apply in minutes - Applying for a Cashback Debit account is simple and fast.
• Fee free overdraft protection
• 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 0.95% APY balances $100,000 and over
• Earn 0.90% 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 0.30% APY up to 2.85% 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 0.30% APY up to 2.85% 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.
Compare to Other Banks
Which Bank is Better: Discover or Bank of America?
- 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.
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