Both Discover Bank Online Savings Account and Capital One 360 Performance Savings offer similar benefits, including competitive APYs and no monthly fees. Discover Bank's daily compounding and ATM access might be preferable for some, while Capital One's branch access and user-friendly app could be more appealing to others. The choice depends on individual banking preferences and needs.
| Attribute | Discover Bank Online Savings Account | Capital One 360 Performance Savings |
|---|---|---|
| Annual Percentage Yield (APY) | As of July 31, 2025, more than five times the national average APY for interest-bearing savings accounts with a balance of $500. As of June 26, 2025, the APY was 3.50%. APY may change. | 3.50% (variable) |
| Minimum deposit to open | No minimum deposit required | $0 |
| Monthly maintenance fee | No monthly maintenance fees | $0 |
| FDIC Insurance | FDIC-insured up to the maximum amount allowed by law. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. | Yes, up to $250,000 per depositor, per insured bank, for each account ownership category |
| Compounding frequency | Interest is compounded daily. | Monthly |
| Mobile app availability | Yes, for both iPhone and Android devices | Yes |
| Online banking access | Yes | Yes |
| Customer service availability | 24/7 U.S.-based customer service via phone at 1-800-347-7000, secure messaging, or live chat | Phone, email, 24/7 live chat, Capital One branches and Cafes |
| Number of withdrawals allowed per month | Mobile users have to comply with government limits. Discover is not currently enforcing the excessive withdrawal limitation but may in the future. | Currently not enforcing the limit of six withdrawals or transfers per monthly statement cycle |
| ATM access | Customers can access over 60,000 fee-free ATMs. Discover Bank does not offer ATM cards for its savings accounts. | No ATM card provided. Requires linking to a Capital One 360 Checking Account for ATM access. |
| Linked checking account availability | Yes | Yes |
| Interest payment frequency | Interest is credited to your account monthly. | Monthly |
| Mobile app ratings | 4.9/5.0 in the Apple App Store and 4.3/5.0 in the Google Play Store. | Not available |
| Outgoing wire transfer fee | $30 | $30 |