Axos Bank vs Discover Bank
Axos Bank is a full-service online bank with excellent cashback and interest checking. How does it compare to Discover Bank? Read our comparison chart below.
Axos Bank offers a range of checking and savings products. Checking options includes a up-to 1% cashback account and rewards checking account with a higher interest rate. Savings options include savings accounts and CDs with higher-than-average rates. All accounts have no monthly service fees.
While Discover Bank offers some of the highest interest rates on the market. CDs go up to 10-year terms. There are no service fees.
Compare Axos Bank with Discover Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
Learn More | Visit Site | |
Axos Bank | Discover Bank | |
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Basic Business Checking - Up to $400 Bonus - | Discover® Online Savings - $200 Cash Bonus - | |
Benefits and Features | ||
Savings | 0.61% APY (balances under $25k); 0.25% APY ($25K-$100K); 0.15% APY ($100k and over) | |
CD | 0.20% APY. Terms of 3 months to 5 years. $1,000 minimum | 2.00% to 4.10% APY depending on terms |
Checking | Rewards Checking: Up to 3.30% APY Cashback Checking: Up to 1% cashback | Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details |
Money Market | 3.80% APY under $100,000; 3.85% APY $100,000 or more. | |
Mobile App | ||
ATMs | approximately 91,000 partner ATMs | |
Customer Service | ||
IRA CD | 9-month CD APY of 4.00%. 12-month CD APY of 4.10%. 18-month CD APY of 3.80%. 24-month CD APY of 3.60%. 5-year CD APY of 3.40%. | |
Locations | ||
CreditDonkey® Reviews | ||
Savings | ||
CD | ||
Checking | ||
Money Market | ||
Mobile App | ||
ATMs | ||
Locations | ||
Customer Service | ||
Pros & Cons | Pros:
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Bottom Line | Full-service online bank with excellent cashback and interest checking... | Solid online bank with high APY rates and good customer service... |
Learn More | Visit Site | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Axos Bank: Pricing information from published website as of 09/27/2024. Discover Bank: Pricing information and data points from published website as of 10/22/2024 |
Basic Business Checking - Up to $400 Bonus
- Business owners get up to $400 welcome bonus!* Open a business checking account by January 2 and get up to $400 when you use promo code NEW400 on your application.*
- No initial deposit requirement
- No minimum balance requirement
- No monthly maintenance fees
- Free domestic incoming wires. Two (2) outgoing domestic wire fees reimbursed per month.
- Unlimited domestic ATM fee reimbursements
- Unlimited item processing (debits, credits, and deposited items)
- Cash deposits via MoneyPass and AllPoint networks
Business Premium Savings - Up to 4.01% APY
- Unlock a bonus up to $375 with Business Premium Savings. Save more, pay lower fees, and get a limited-time bonus up to $375 with a 4.01% APY* Business Premium Savings account. Use promo code BPS375.†
- Earn 4.01% APY* With Business Premium Savings
- Free domestic and international incoming wires
- No monthly maintenance fee
- No minimum opening deposit
- No average daily balance requirement
- Business deposit accounts FDIC insured up to $250k
High Yield Savings - Up to 0.61% APY
- 0.61% APY on balance < $25,000
- 0.25% APY on balance $25K-$100K
- 0.15% APY on balance > $100K
- No monthly maintenance fees
- No minimum balance requirements
- $250 minimum opening deposit
- Free incoming wires
- Zero minimum balance requirement
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, 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. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. 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 subject to tax reporting. Offer ends 03/13/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding your Account, see FAQs on Discover.com/Bank. See advertiser website for full details.
Discover® Online Savings - $150 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, 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. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. 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 subject to tax reporting. Offer ends 03/13/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding your Account, see FAQs on Discover.com/Bank. See advertiser website for full details.
Online Savings Account - Earn 4.00% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Which is Better: Axos Bank or Discover Bank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Axos Bank or Bank of America.
In short: Axos Bank's checking is excellent.