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.
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| Capital One | Discover | |
| Locations | Online based banking | Online-only |
| ATMs | Over 39,000 no-fee Capital One & Allpoint ATMs | Over 60,000 no-fee ATMs |
| Savings | 3.5/5 | 3.5/5 |
| CD | ||
| Checking | 5/5 | 4/5 |
| Money Market | 4/5 | |
| Customer Service | 4.5/5 | 4/5 |
| Mobile App | 4.5/5 | 5/5 |
| Pros | -Overdraft protection options -No account minimums -27 Capital One cafes for in-person support |
-High yield -Cashback checking -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
Discover Online SavingsDiscover Money MarketDiscover CDDiscover IRA CD
 Open a Discover® Online Savings Account for all these features: • Earn high interest rate of 4.10% 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 |
Read more about Discover Bank Online Savings here. Our full list of Discover Bank bonuses here.
• 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 3.95%% APY balances $100,000 and over • Earn 3.90% APY balances under $100,000 • No hidden fees. No surprises. • Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs |
Read more about Discover Bank Money Market here. Our full list of Discover Bank bonuses here.
• 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 4.10% 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. |
Read more about Discover Bank CD here. Our full list of Discover Bank bonuses here.
• Available nationwide online • Select terms as short as 3 months up to 120 months • Rates ranging from 2.00% APY up to 4.10% 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. |
Read more about Discover Bank IRA CD here. Our full list of Discover Bank bonuses here.
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
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Bottom Line
Which Bank is Better: Capital One or Discover?
In summary:
- 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:
