A leading personal finance website has named Discover Bank one of the best banks on 2017, with the credit card issuer coming in first in four of five categories, including best savings account, best CD account, best online bank account, and best rewards checking account.
Many people are most familiar with Discover card from their line of cash back rewards credit cards. But Discover also offers a variety of other financial services, including prepaid cards that essentially double as checking accounts, allowing customers to skip the high fees that can be associated with traditional bank accounts.
Heather Roche, vice president of deposits at Discover, said the company’s goal is “to offer competitive rates and useful features while providing a rewarding customer service experience.” She further said that the company “strives to offer a broad range of online banking options to best fit our customer’s financial needs and goals.”
The survey is by GOBankingRates, and is in its fifth year. To do the survey, GOBanking Rates complied a list of FDIC-insured banks that offer their products in the United States. Banks were evaluated and ranked according to different factors, and GOBanking Rates named the top ten banks in each of those five different factors.
Discover offerings growing all the time
GOBanking noted Discover’s wide range of product offerings, as well as their many cash back rewards credit cards. Discover was one of the first ever credit cards to offer cash back, making it a groundbreaking card in the payments space.
Discover is also known for their excellent, award-winning costumer service. When cardholders have problems making a payment on time, if they have questions about how a card works or how to redeem rewards, or if they want to check their balance or be walked through setting up an online account, a friendly voice will always pick up the phone when you call customer service.
Discover Bank has competitive rates for CDs, IRAs, savings accounts, and money market accounts. More recently, they’ve also introduced Cashback Checking, which gives cardholders a reward on up to 100 transactions per month. Discover debit cards earn cash back rewards as well, making them some of the only debit cards to do so.