Discover Bank vs Axos Bank
Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Axos Bank? Read our comparison chart below.
Discover Bank offers some of the highest interest rates on the market. CDs go up to 10-year terms and have a minimum deposit of $2,500. There are no service fees.
While 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.
Compare Discover Bank with Axos Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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| Visit Site | Learn More | |
Discover Bank | Axos Bank | |
|---|---|---|
Discover® Online Savings - $200 Cash Bonus - | Basic Business Checking - Up to $400 Bonus - | |
Benefits and Features | ||
| Savings | 0.61% APY (balances under $25k); 0.25% APY ($25K-$100K); 0.15% APY ($100k and over) | |
| CD | 2.00% to 5.10% APY depending on terms. $2,500 minimum | 0.20% APY. Terms of 3 months to 5 years. $1,000 minimum |
| Checking | Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details | Rewards Checking: Up to 3.30% APY Cashback Checking: Up to 1% cashback |
| Money Market | 4.00% APY under $100,000; 4.05% APY $100,000 or more. | |
| Mobile App | ||
| ATMs | Approximately 91,000 partner ATMs | |
| Customer Service | ||
| IRA CD | 12-month CD APY of 4.70%. 18-month CD APY of 4.40%. 24-month CD APY of 4.00%. 5-year CD APY of 3.75%. | |
| Locations | ||
CreditDonkey® Reviews | ||
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| Money Market | | |
| Mobile App | | |
| Customer Service | | |
| CD | | |
| ATMs | | |
| Locations | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Solid online bank with high APY rates and good customer service... | Full-service online bank with excellent cashback and interest checking... |
| Visit Site | Learn More | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Discover Bank: Pricing information and data points from published website as of 07/11/2024. Axos Bank: Pricing information from published website as of 06/14/2024. | ||
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY624 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 09/12/2024, 11:59 PM ET. Offer may be modified or withdrawn without notice. 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 CY624 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 09/12/2024, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.
Online Savings Account - Earn 4.25% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Basic Business Checking - Up to $400 Bonus
- Business owners get up to $400 welcome bonus!*
- Open a business checking account by August 1 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
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
Business Interest Checking - 1.01% APY
- Business owners get up to $400 welcome bonus!*
- Open a business checking account by August 1 and get up to $400 when you use promo code NEW400 on your application.*
- Up to 1.01% APY**
- $100 minimum opening deposit
- Pay no monthly maintenance fee with an average daily balance of at least $5,000
- Unlimited domestic ATM fee reimbursements
- Up to 100 free items per month, $0.50 per item thereafter (includes debits, credit, and deposited items)
- Up to 60 items per month for Remote Deposit Anywhere (includes monthly per item processing limitation)
- Free online banking, image statements, and Bill Pay
Which is Better: Discover Bank or Axos Bank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Discover Bank or Chase.
In short: Axos Bank's checking is excellent.
Articles on Discover Bank
Discover Bank Review
Discover Savings Account Review
Discover CD Review
Discover High Yield Savings Bonus
Discover Bank Locations
Discover Checking Account Fees
Who Owns Discover
Discover Checking Account Minimum Balance
Discover Checking Account Requirements
Discover Money Market vs Savings
Is Discover a Real Bank
Is Discover Savings Worth It
Articles on Axos Bank
Axos Bank Review
Axos Business Checking
Is Axos Bank Safe
Which Do You Think is Best?
Which Bank Account is Right for You?
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