American Express vs. Discover Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | American ExpressHigh Yield Savings Account Jan 21, 2026 | Discover BankOnline Savings Account Jan 16, 2026 |
|---|---|---|
| APY | 3.30% | 3.30% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$165 $10,000+$330 $25,000+$825 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Discover Bank is part of Capital One and this account is not open to new customers. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing American Express vs. Discover Bank
As of both American Express (High Yield Savings Account) and Discover Bank (Online Savings Account) offer an APY of 3.30% .
Both banks yield $330 in interest on a $10,000 balance after one year. Neither has an APY advantage, so consider other features (fees, access, app ratings, etc.) when choosing.
Why American Express?
No distinct advantages found vs Discover Bank.
Why Discover Bank?
- ✓Higher rated Android app (4.8 vs 3.6)
Shared Benefits
Executive Summary as of
Both American Express and Discover Bank offer online savings accounts with a competitive APY of 3.30%. However, Discover Bank's Online Savings Account is currently not open to new customers, making American Express's High Yield Savings Account the more accessible option for new savers. Both accounts require no minimum deposit or balance, have no maintenance fees, and compound interest daily, making them attractive choices for those looking to save. For those eligible, American Express provides a viable alternative with its high yield offering.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
American Express vs. Discover Bank Savings Calculator
Both accounts earn exactly the same amount.
American Express
High Yield Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | American Express | Discover Bank |
|---|---|---|
| APY | 3.30% Verified: 1/21/2026 ↘︎ 0.20%90d Change | 3.30% Verified: 1/16/2026 ↘︎ 0.10%90d Change |
| Product Name | High Yield Savings Account | Online Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.9 Android3.6 | iOS4.9 Android4.8 |
| Zelle® Support | Available Requires Amex Rewards Checking; not available for standalone HYSA. | Available Limit: $600/dayStrict 90-day seasoning period for new accounts. |
| BBB Rating | F | A+ |
| Important Notes | - | Discover Bank is part of Capital One and this account is not open to new customers. |
| Next Steps | Visit SiteVerify at American Express Non-sponsored link to official site | Visit SiteVerify at Discover Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | American Express | Discover Bank |
|---|---|---|
| High Yield Savings Account | Online Savings Account | |
Current APY | 3.30% | 3.30% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.6 | -3.5 |
Days Since Change | 22 | 13 |
12-Month High | 3.80% | 3.75% |
12-Month Low | 3.30% | 3.30% |
Adjustments / Mo | 0.41 | 0.41 |
Volatility Score | 0.038 | 0.037 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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