Compare Discover Banking Products: Savings, CDs, and Checking

How Discover compares

If you have basic banking needs and you can’t remember the last time you stepped foot in a physical branch, you may want to consider an online-only bank like Discover. Discover currently operates the biggest online-only bank in the country, and its checking and savings accounts offer competitive rates and easy access.

What banking products does Discover offer?

• Discover® Online Savings Account. This high interest savings account has no monthly fees or balance requirements, making it easier to save.
• Discover® Cashback Debit. Earn 1% cash back on eligible purchases with this free, easily accessible checking account. See website for details.
• Discover® Money Market. Earn 3.40% APY on balances between $1 and $99,999, or earn 3.45% APY on balances of $100,000 or more.
• Discover® CDs. Discover’s certificates of deposit offer flexible terms, up to 4.05% APY and have almost no fees.

Compare with leading bank accounts

• Savings
• Checking
• CDs

{"userFilters":[{"config":{"MULTISELECT":true,"VALUES":"ATM\/debit card,Online only,Bonus offer,No monthly fee,Joint account,Crypto account,High APY"},"dataSelector":{"recordType":"product","fieldCode":"DETAILS.ACCOUNT_FEATURES"},"dataType":"TEXT","label":"Account features","order":null},{"config":{"MULTISELECT":true,"VALUES":"Cash by teller, Cash by ATM, Check by teller, Check by ATM, Mobile\/remote check deposit, Bank transfer, Wire transfer, Direct deposit, Fiat currencies, Cryptocurrencies"},"dataSelector":{"recordType":"product","fieldCode":"DETAILS.DEPOSIT_METHODS"},"dataType":"TEXT","label":"Deposit methods","order":null},{"config":{"MULTISELECT":true,"VALUES":"Alabama,Alaska,Arizona,Arkansas,California,Colorado,Connecticut,Delaware,District of Columbia,Florida,Georgia,Hawaii,Idaho,Illinois,Indiana,Iowa,Kansas,Kentucky,Louisiana,Maine,Maryland,Massachusetts,Michigan,Minnesota,Mississippi,Missouri,Montana,Nebraska,Nevada,New Hampshire,New Jersey,New Mexico,New York,North Carolina,North Dakota,Ohio,Oklahoma,Oregon,Pennsylvania,Rhode Island,South Carolina,South Dakota,Tennessee,Texas,Utah,Vermont,Virginia,Washington,West Virginia,Wisconsin,Wyoming"},"dataSelector":{"recordType":"product","fieldCode":"DETAILS.STATE_AVAILABILITY"},"dataType":"TEXT","label":"States serviced","order":null}],"niche":{"currencySymbol":"$","decimalPoint":".","decimalPlaces":"2","thousandsSeparator":",","filterBoundsMap":{"product.DETAILS.ACCOUNT_FEATURES":null,"product.DETAILS.DEPOSIT_METHODS":null,"product.DETAILS.STATE_AVAILABILITY":null}},"prefilled":false,"experimental":false}

6 of 18 results

Finder Score	Account type	Annual Percentage Yield (APY)	FDIC or NCUA insured amount	Minimum balance to earn APY	Minimum deposit to open	Rebate
Promoted Finder score 9.2 Excellent SoFi Checking and Savings	Finder score 9.2 Excellent	Traditional savings,Checking	Up to 3.30%	Up to $250,000	$0	$0	Earn up to 4.00% APY on savings and $50 or $300 with direct deposit. Open a new SoFi Checking and Savings account by 31 January 2026, set up eligible direct deposit within 60 days, and maintain direct deposit for six months. T&Cs apply.		Go to site View details Compare product selection Compare	loading
Promoted Finder score 8.6 Great Synchrony High Yield Savings	Finder score 8.6 Great	Traditional savings,Custodial account	3.65%	Up to $250,000	$0	$0		Go to site View details Compare product selection Compare	loading
Promoted Finder score 9.2 Excellent Public High-Yield Cash Account	Finder score 9.2 Excellent	Cash management account	3.30%	Up to $250,000	$0	$0		Go to site View details Compare product selection Compare	loading
Finder score 8.6 Great Alliant High-Rate Savings	Finder score 8.6 Great	Savings app	3.10%	Up to $250,000 by the NCUA	$100	$5	$5 opening deposit is paid for you. T&Cs apply.		Go to site View details Compare product selection Compare	loading
Finder score 9.4 Excellent Varo	Finder score 9.4 Excellent	Traditional savings	Up to 5.00%	Up to $250,000	$0	$0		Start with 2.50% APY, then qualify next month for 5.00% APY on up to $5,000 by getting $1,000+ in direct deposits and a positive balance.	Go to site View details Compare product selection Compare	loading
Finder score 9.6 Excellent Revolut	Finder score 9.6 Excellent	Savings app	Up to 5.50%	Up to $250,000	$0	$0	Join Revolut and get $20. Make your first virtual or physical Revolut card payment to receive $20 credited to your Revolut account. T&Cs apply.		Go to site View details Compare product selection Compare	loading

loading

Load More

Showing 6 of 18 results

Compare other products

We currently don't have that product, but here are others to consider:

How we picked these

What is the Finder Score?

The Finder Score crunches over 250 savings accounts from hundreds of financial institutions. It takes into account the product's interest rate, fees, opening deposit and features - this gives you a simple score out of 10.

To provide a Score, Finder’s banking experts analyze hundreds of savings accounts against FDIC-reported national averages as a baseline. Accounts with rates well over the national average are scored the highest, while accounts with rates well below are scored low.

Read the full breakdown

{"userFilters":[{"config":{"MULTISELECT":true,"VALUES":"Earns interest,No monthly fee,Bonus offer,Free ATM access,Online only,Early direct deposit,Crypto account "},"dataSelector":{"recordType":"product","fieldCode":"DETAILS.ACCOUNT_FEATURES"},"dataType":"TEXT","label":"Account features","order":null},{"config":{"MULTISELECT":true,"VALUES":"Cash by teller,Cash by ATM,Check by teller,Check by ATM,Mobile\/remote check deposit,Bank transfer,Wire transfer,Direct deposit,Fiat currencies,Cryptocurrencies,Cash by participating retailer"},"dataSelector":{"recordType":"product","fieldCode":"DETAILS.DEPOSIT_METHODS"},"dataType":"TEXT","label":"Deposit methods","order":null},{"config":{"MULTISELECT":true,"VALUES":"Alabama,Alaska,Arizona,Arkansas,California,Colorado,Connecticut,Delaware,District of Columbia,Florida,Georgia,Hawaii,Idaho,Illinois,Indiana,Iowa,Kansas,Kentucky,Louisiana,Maine,Maryland,Massachusetts,Michigan,Minnesota,Mississippi,Missouri,Montana,Nebraska,Nevada,New Hampshire,New Jersey,New Mexico,New York,North Carolina,North Dakota,Ohio,Oklahoma,Oregon,Pennsylvania,Rhode Island,South Carolina,South Dakota,Tennessee,Texas,Utah,Vermont,Virginia,Washington,West Virginia,Wisconsin,Wyoming"},"dataSelector":{"recordType":"product","fieldCode":"DETAILS.STATE_AVAILABILITY"},"dataType":"TEXT","label":"States serviced","order":null},{"config":{"MULTISELECT":true,"VALUES":"Personal,Business,Student,Kids"},"dataSelector":{"recordType":"product","fieldCode":"DETAILS.USER_TYPE"},"dataType":"TEXT","label":"Account type","order":null}],"niche":{"currencySymbol":"$","decimalPoint":".","decimalPlaces":"2","thousandsSeparator":",","filterBoundsMap":{"product.DETAILS.ACCOUNT_FEATURES":null,"product.DETAILS.DEPOSIT_METHODS":null,"product.DETAILS.STATE_AVAILABILITY":null,"product.DETAILS.USER_TYPE":null}},"prefilled":false,"experimental":false}

5 of 18 results

Finder Score	Fee	Minimum deposit to open	Annual Percentage Yield (APY)
Promoted Finder score 9 Excellent SoFi Checking and Savings	Finder score 9 Excellent	$0 per month	$0	Up to 3.30%	Earn up to 4.00% APY on savings and $50 or $300 with direct deposit. Open a new SoFi Checking and Savings account by 31 January 2026, set up eligible direct deposit within 60 days, and maintain direct deposit for six months. T&Cs apply.	Go to site View details Compare product selection Compare	loading
Promoted Finder score 9.2 Excellent Current	Finder score 9.2 Excellent	$0 per month	$0	4.00% on balances of $0.01 to $2,000	Get a $100 referral bonus by inviting your friends to join Current. Once the person receives the invite link, applies your unique referral code, and makes qualifying Eligible Payroll Deposits of at least $200 within 45 days of opening the account, you and the referred friend each earn $100. T&Cs apply.	Go to site View details Compare product selection Compare	loading
Promoted Finder score 9.2 Excellent NBKC Everything Account	Finder score 9.2 Excellent	$0 per month	$0	1.75% on balances of $0.01+	Go to site View details Compare product selection Compare	loading
Finder score 9.6 Excellent Revolut	Finder score 9.6 Excellent	From $0 per month	$0	5.50% on balances of $0+ 4.50% on balances of $0+ 4.00% on balances of $0+	Join Revolut and get $20. Make your first virtual or physical Revolut card payment to receive $20 credited to your Revolut account. T&Cs apply.	Go to site View details Compare product selection Compare	loading
Finder score 7 Great HSBC Premier Checking	Finder score 7 Great	$50 per month (can be waived)	$0	0.01% on balances of $5+	Earn up to $7,000 when you open an HSBC Premier checking account by March 31, 2026 and complete qualifying activities. T&Cs apply.	Go to site View details Compare product selection Compare	loading

loading

Load More

Showing 5 of 18 results

Compare other products

We currently don't have that product, but here are others to consider:

How we picked these

What is the Finder Score?

The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.

To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.

Read the full breakdown

6 of 7 results

Finder Score	6-month APY	1-year APY	5-year APY	Minimum deposit to open
Finder score 9.4 Excellent Patriot Bank 3M CD	Finder score 9.4 Excellent	N/A	N/A	N/A	$1	Up to $1,000 bonus for new customers with qualifying deposits using promo code EASY. T&Cs apply.	Go to site View details Compare product selection Compare	loading
Finder score 9.6 Excellent Alliant Credit Union Certificates	Finder score 9.6 Excellent	4.10%	4.00%	3.65%	$1,000	Go to site View details Compare product selection Compare	loading
Finder score 10 Excellent Quontic Bank CDs	Finder score 10 Excellent	3.75%	3.00%	3.00%	$500	Go to site View details Compare product selection Compare	loading
Finder score 10 Excellent Valley Direct Online CD	Finder score 10 Excellent	N/A	4.00%	N/A	$500	Go to site View details Compare product selection Compare	loading
Finder score 9.6 Excellent Bask Bank CDs	Finder score 9.6 Excellent	3.95%	3.85%	N/A	$1,000	Go to site View details Compare product selection Compare	loading
Finder score 7 Great 13-Month CD	Finder score 7 Great	3.00%	0.30%	0.50%	$1,000	Go to site View details Compare product selection Compare	loading

loading

Load More

Showing 6 of 7 results

Compare other products

We currently don't have that product, but here are others to consider:

How we picked these

What is the Finder Score?

The Finder Score analyzes hundreds of CDs from more than 100 institutions. It takes into account the product's interest rate for available terms and opening deposit requirements - this gives you a simple score out of 10.

Different banks and credit unions offer CDs for various lengths of time, ranging from as short as seven days to as long as 20 years. For our ratings, we consider the term lengths that the FDIC uses in its monthly updates on national rates.

If a bank or credit union doesn’t offer a CD for a specific term used by the FDIC, we don’t penalize it: Instead, we simply don’t rate it. Each of the standard term lengths has its own APY rating based on the FDIC’s average rates.

Read the full breakdown

How does it compare to other banks and services?

Discover holds over $63 billion in deposits, making it the 31st-largest FDIC-insured institution in the country. While that’s only a fraction of the amounts held by the Big Four Banks, it’s the biggest online-only bank in the country, which is quite impressive considering it’s only been in business since 2007.

While it’s headquartered in Riverwoods, Illinois, it operates entirely online, meaning there are no physical branches.

What do regulators and customers say?

Discover Financial is FDIC-insured, meaning that deposits up to $250,000 are protected by the FDIC if the bank were to fail. However, it holds higher ratings from the BBB and the top three credit ratings agencies, which have also forecasted it to have a stable and positive outlook. It’s officially accredited on the BBB website alongside an A+ rating, though it only holds a 1.5 out of 5-star rating from customers. Many customers express frustration with customer service, long wait times and poor communication.

Bottom line

Discover offers competitive rates and low fees on a strong selection of financial products, making it a great choice for people who are comfortable with online banking. However, it only has one physical branch, meaning you probably won’t have access to a teller or be able to make cash deposits unless you live near Greenwood, Delaware. See what other banks offer in our comparison guide.

Frequently asked questions

• Does Discover reimburse ATM fees?

  No. While there are over 60,000 surcharge-free ATMs, Discover will not reimburse ATM owner fees or other transaction fees.

• Can I open a bank account at Discover if I am not a US citizen?

  No. Each Account owner must be a US citizen or resident alien. They must also be at least 18 years old and have a valid tax ID number and a valid physical US address.

• What is the routing number for Discover Bank?

  The routing number for Discover Bank is 031100649.

• What do I need to open a Discover bank account?

  If you’d like to open an account with Discover, you can visit the website or call 800-347-7000 to speak with a banking specialist. You’ll need the following information to open an account:

  • Your physical address
  • Phone number
  • Email address
  • Social Security number or taxpayer ID

• Are there any online transfer limits?

  Customers are limited to $250,000 in incoming transfers and $250,000 in outgoing transfers per month, for a combined total of $300,000. Transfers initiated from outside discover bank do not apply to these limits.

• Does Discover have student banking options?

  No. Discover doesn’t have any accounts designed specifically for students, but does offer many low-fee savings and checking accounts that could be a good choice for students.

Written by

Peter Carleton

Writer

Peter Carleton is a freelance writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading. See full bio

Co-written by

Cassidy Horton

Writer

Cassidy Horton is a freelance personal finance copywriter and past contributing writer for Finder. Her writing and banking expertise have been featured in Forbes Advisor, Money, The Balance, Money Under 30, Insure.com, and other top digital publishers. She holds a BS in public relations and an MBA from Georgia Southern University. See full bio