Discover vs Capital One 360 Savings, Compared
Discover and Capital One 360 get searched together, but they aren't really a two-way choice right now: Discover completed its merger into Capital One in May 2025 and stopped accepting new applications for its savings, checking, CD, and money-market products in late January 2026. Existing Discover deposit accounts are being converted to Capital One 360 products; a saver opening a new account today cannot open a Discover one. That leaves Capital One 360 as the account you can actually open — here's what it requires and what it doesn't.
Read this first: Discover completed its merger into Capital One in May 2025 and stopped accepting new applications for its savings, checking, CD, and money-market products in late January 2026. Existing Discover deposit accounts are being converted to Capital One 360 products; a saver opening a new account today cannot open a Discover one.
The comparison
What actually differs, sourced from each bank
Every figure below is a structural account term, checked against Discover's and Capital One 360's own disclosures as of early August 2026 — not an APY. Rates change constantly and we don't yet publish named-institution rates (see the methodology); confirm the current rate directly with each bank before you decide.
Discover
Capital One 360
FDIC entity
Discover Bank (merged into Capital One, N.A.)
Capital One, N.A.
Open to new applicants
No
Yes
Minimum to open
N/A — not accepting new applications
$0
Monthly fee
$0 (existing accounts, pre-conversion)
$0
To earn the top rate
Not applicable to new savers — no new Discover savings account can be opened.
360 Performance Savings pays its published rate to every balance, with no direct-deposit or activity requirement.
ATM / debit access
No ATM/debit card was offered on the Discover Online Savings account.
Not on Performance Savings directly — ATM/debit access requires linking a 360 Checking account (70,000+ fee-free Capital One and partner ATMs via that checking account).
The catch on each
Discover
The account itself is disappearing — Discover's deposit business is being folded into Capital One, so a comparison against it is really a comparison against what Capital One 360 already offers.
Capital One 360
No ATM card on the savings account, and — as of early 2026 — Capital One is also the institution absorbing former Discover deposit customers post-merger, so its own savings product and the migrated Discover balances are converging into one system.
On the rate itself
We don't publish Discover's or Capital One 360's current APY — both change frequently and we don't yet have a sourced, dated feed for named-institution rates. What we do publish is the real, dated FDIC national-average benchmark, so you have a floor to check either bank's advertised rate against. See the high-yield savings guide for that benchmark and how to read an APY.
Next step
See how every savings option compares.
We don't open accounts or hold your money. We lay out the account terms against a published standard so you can decide with the fine print in plain sight, then take it to the bank that holds the account.
Compare savings accountsGet an email when Discover or Capital One 360 rates change.
We track both of these. We'll email you the moment either changes — no checking back.
Frequently asked
Can I still open a Discover savings account today?
Discover completed its merger into Capital One in May 2025 and stopped accepting new applications for its savings, checking, CD, and money-market products in late January 2026. Existing Discover deposit accounts are being converted to Capital One 360 products; a saver opening a new account today cannot open a Discover one. If you want a new account today, Capital One 360 is open to new applicants; if you already hold a Discover account, refer to Discover Bank (merged into Capital One, N.A.)'s own notices for what happens to your existing balance.
Are Discover and Capital One 360 both FDIC-insured?
Yes. Discover deposits are held by Discover Bank (merged into Capital One, N.A.); Capital One 360 deposits are held by Capital One, N.A.. Both are FDIC member institutions, insuring deposits up to $250,000 per depositor, per ownership category. The insurance comes from the bank through the FDIC, not from ClearValue Banking. Confirm current FDIC status at the FDIC's BankFind tool before you move money.
What's the minimum to open an account — Discover vs Capital One 360?
Discover requires N/A — not accepting new applications to open and charges $0 (existing accounts, pre-conversion) in monthly fees. Capital One 360 requires $0 to open and charges $0 in monthly fees.
Does Discover or Capital One 360 require direct deposit to earn its top rate?
Discover: Not applicable to new savers — no new Discover savings account can be opened. Capital One 360: 360 Performance Savings pays its published rate to every balance, with no direct-deposit or activity requirement. Confirm current tiering directly with each bank before you decide — this changes without notice.
Can I get an ATM or debit card with Discover or Capital One 360?
Discover: No ATM/debit card was offered on the Discover Online Savings account. Capital One 360: Not on Performance Savings directly — ATM/debit access requires linking a 360 Checking account (70,000+ fee-free Capital One and partner ATMs via that checking account).