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, Regions Bank is located in 15 states in the South and Midwest with 1,500 branches. You can open a checking and savings account with as little as $50, plus they have lower requirements to waive fees.Discove
To add on, the Now Banking solution offers prepaid Visa savings, and check cashing services with no account required.
See our table below for a side-by-side comparison between the two banks.
|Discover Bank Online Savings|
|Up to $200 Cash + 3.60% APY||Review|
|Discover Bank CD||Up to 4.75% APY||Review|
|Discover Bank Money Market||Up to 3.55% APY||Review|
|Discover Bank IRA CD||Up to 4.75% APY||Review|
|Locations||Online Only||More than 1500 branches in 15 Southern and Midwestern US states.
|ATMs||Over 60,000 no-fee ATMs||More than 4,700 ATMs|
-24/7 customer service
|-Virtual Wallet tools
-Relatively easy to waive fees
-Free student account
|Cons||-No interest checking
-$2,500 minimum deposit for CDs
|-$50 to open checking account
-Relationship Rewards Program
-LifeGreen Savings annual bonus
|Bottom Line||Discover Bank offers some of the highest interest rates on the market.||Regions Bank offers a variety of deposit products, special reward programs, and more!|
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 3.60% 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 3.55% APY balances $100,000 and over
• Earn 3.50% 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.
Compare to Other Banks
- Discover Bank vs Chase
- Discover Bank vs Ally Bank
- Discover Bank vs Bank of America
- Discover Bank vs Wells Fargo
- Discover Bank vs KeyBank
Which Bank is Better: Discover or Regions Bank?
- 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.
- Regions Bank’s CDs and savings account are another great way to save, but their rates may not be the best.
For more variety of options, see our list of the best bank account bonuses & savings account offers.
More on Discover Bank:
More on Regions Bank:
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