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Capital One 360 vs Discover Bank
Capital One 360 and Discover Bank were long-time rivals. Since May 2025 they have the same owner: Capital One completed its acquisition of Discover Financial Services. Both brands still offered checking, online savings and CDs at our last review. This page sets out how the two compare, and what the merger means if you're choosing between them or already bank with both.
Quick verdict
Choose Capital One 360 if you sometimes want in-person help, because you can use Capital One branches and Cafés, or if you want a teen or kids' account.
Choose Discover if you want an online-only account with a strong no-fee policy and debit card cash back (if still offered when you apply).
Side-by-side comparison
| Feature | Capital One 360 | Discover Bank |
|---|---|---|
| Owner | Capital One | Capital One (since May 2025) |
| Savings APY at our April 2026 review | 4.25% (360 Performance Savings) | 4.25% (Online Savings) |
| Checking | 360 Checking (small interest rate) | Cashback Debit checking (no interest) |
| Monthly fees | None on 360 Checking or Performance Savings | None on checking or savings |
| Overdraft / NSF fees | No overdraft fees (Capital One dropped them in 2022) | No NSF fees |
| In-person access | Capital One branches and Cafés in some areas | None (online and phone) |
| ATM network | Capital One, Allpoint and MoneyPass ATMs | Allpoint and MoneyPass ATMs |
| Debit rewards | No | Cash back on eligible debit purchases (monthly cap) at our last review |
| Kids / teen accounts | Yes | No |
Rates and features were recorded at our last review (April 2026) and may change, especially while Capital One integrates Discover. Check capitalone.com and discover.com for current terms.
What the merger means for customers
- FDIC coverage may be combined. When banks merge, deposits can end up insured under a single FDIC certificate. If you hold money at both brands, especially more than $250,000 in total in one ownership category, check your coverage with the FDIC's EDIE estimator or ask the bank. See our FDIC insurance guide for how limits work.
- Watch for account notices. Integrations often bring new terms, apps, routing numbers or product names. Read any notice from Discover or Capital One and act on deadlines, for example by updating direct deposit or autopay details.
- Features can change. Perks such as Discover's debit cash back may be changed or dropped over time. Don't open an account for a perk without checking that it's still offered.
Rates
At our last review the two savings accounts paid the same rate, which isn't surprising for banks under one owner. Neither required a minimum balance or direct deposit for the standard savings rate. Because the rates are variable, check both on the day you open an account.
Checking and everyday banking
360 Checking pays a small amount of interest and comes with access to Capital One locations. That is useful if you occasionally need a cashier's check, want to talk to someone in person, or want to deposit cash at a Capital One ATM. Discover's checking account has paid no interest and instead offered cash back on debit card purchases up to a monthly limit. If you spend regularly on your debit card, that cash back could be worth more than a small checking APY, as long as it's still offered.
Which to choose
If you value occasional in-person service, cash deposits at Capital One ATMs or family accounts, choose Capital One 360. If you're comfortable fully online and the Discover debit rewards are still available, Discover is a reasonable choice. Since both now belong to the same company, don't open accounts at both just to get more FDIC coverage without first checking how your deposits are insured.
Related reading
Editorial note: this page is general information, not financial advice. See the editorial disclaimer for the full statement. Rates, fees and account terms change without notice — confirm current details with each bank before you open an account.