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 | 0.40% APY | Review |
| Discover Cashback Debit | $360 Cash Back | 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! |
Table of Contents
Discover Bank Promotions
 Open a Discover Online Savings Account for all these features: • Earn high interest rate of 0.40% 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 |
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
| PROMOTIONAL LINK | OFFER | REVIEW |
| Chase Business Complete BankingSM | $300 Cash | Review |
| HSBC Premier Checking Member FDIC | $450 Cash | Review |
| HSBC Premier Checking Member FDIC | Up To $600 | Review |
| BBVA Free Checking & Savings | $250 Cash | Review |
| Huntington 25 Checking | $300 Cash | Review |
| TD Bank Beyond Checking | $300 Cash | Review |
| TD Bank Convenience CheckingSM | $150 Cash | Review |
| Huntington Bank Unlimited Plus Business Checking | $750 Cash | Review |
| Huntington Bank Unlimited Business Checking | $400 Cash | Review |
| Huntington Bank Business Checking 100 | $200 Cash | Review |
| Axos Bank Basic Business Checking | $100 Cash | Review |
| Aspiration Spend & Save Account | $100 Cash | Review |
| Ally Invest | Up to $3,000 Cash | Review |
| BlockFi | Up To $250 BTC | Review |
| American Express High Yield Savings | 0.40% APY | Review |
| Discover Cashback Debit Account | $360 Cash | Review |
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