Discover Bank is being absorbed into Capital One following the 2025 acquisition close. For practical purposes, "Discover Online Savings vs Marcus" is now "Capital One 360 Performance Savings vs Marcus" — and Marcus currently pays 0.15 points more with the same tier-free structure. If you have a Discover account already, you do not need to move; if you are opening fresh, Marcus has the cleaner story.
Today's top HYSA rate: —. See the live HYSA leaderboard.
- 1.Discover status: Now part of Capital One (2025 merger)
- 2.Marcus APY: 3.65% flat, no minimum
- 3.Capital One 360 APY: 3.50% flat, no minimum
- 4.FDIC: Both fully insured to $250K
- 5.Fees: Zero on both
The Capital One / Discover deal closed in 2025, and the practical effect for savings customers is that the standalone "Discover Online Savings" account is being merged into Capital One's 360 Performance Savings product. The rate, terms, and customer experience are converging toward the Capital One side. So the honest comparison is now between Marcus and what your Discover account is becoming — Capital One 360.
What changed in the merger
Capital One announced the acquisition of Discover Financial Services in February 2024 and the deal closed in 2025 after regulatory approval. The combination created the largest U.S. credit card issuer by loan balance and brought Discover's deposit base under Capital One's banking charter.
For Discover Online Savings customers specifically:
- The account itself continues to function — direct deposits, ACH transfers, and external linkages are not disrupted
- Branding is gradually shifting to Capital One in statements and the mobile app
- New deposit accounts under the Discover brand are no longer being opened in most channels
- Existing customers are being migrated to Capital One's platform on a rolling basis
This is a normal post-merger bank integration. The FDIC insurance, the deposits themselves, and the legal obligations to depositors are preserved by regulation. What changes is the brand, the app, and eventually the product structure — which means the rate.
Marcus vs Capital One 360 Performance Savings: 2026
| Feature | Marcus | Capital One 360 Performance Savings |
|---|---|---|
| Current APY | 3.65% | 3.50% |
| Minimum balance | $0 | $0 |
| Monthly fees | $0 | $0 |
| Tiered rates | No (flat) | No (flat) |
| Mobile app rating | 4.9 (App Store) | 4.9 (App Store) |
| ATM access | None | Yes, fee-free network |
| Physical branches | None | ~280 Cafés + branches |
| FDIC | Goldman Sachs Bank USA | Capital One, N.A. |
| Account opening time | ~5 min | ~5 min |
| External transfer limit | $125K/day after warm-up | $25K/day |
Both are clean, flat-rate, tier-free, fee-free savings accounts. The differences come down to rate, ATM access, and physical presence.
Where Marcus wins
The rate. 3.65 percent versus 3.50 percent is real money at scale. On a $50,000 balance that is $75/year. On a $200,000 emergency fund it is $300/year. The gap has been roughly this size for most of the past 18 months — Marcus has consistently been at or near the top of the major-bank HYSA league, and Capital One has consistently been a step behind.
Flat-rate purity. Marcus has been the cleanest "no gimmicks" HYSA in the market for nearly a decade. One rate. No tiers. No teaser rate that drops after 6 months. No promotional code that disappears. What you see is what every existing customer gets — no new-customer-only bonus rates.
Goldman Sachs Bank USA as backstop. Marcus is a deposit product of Goldman Sachs Bank USA, a bank with a different capital structure and balance sheet profile than Capital One. For depositors well under the $250K FDIC limit this is irrelevant; for households with substantial cash positions diversifying across charters, it is a real consideration.
Where Capital One wins
ATMs and physical access. Capital One has roughly 280 Cafés and branches plus a fee-free ATM network including Allpoint and MoneyPass. If you ever need cash from a savings account or want to walk into a branch, Capital One can do that. Marcus cannot.
Ecosystem. If you already have a Capital One credit card (Venture, Quicksilver, Savor, or any of the no-foreign-transaction-fee cards), having the savings account in the same app and login is genuinely convenient. Transfers between the credit card and savings happen instantly. With Marcus, your savings sits in isolation from your card.
Card portfolio depth. Post-Discover acquisition, Capital One inherited the Discover card portfolio and its closed-loop network. Combined with Capital One's existing cards, this gives the company a much bigger consumer credit footprint to bundle around. Expect more cross-product offers (rate boosts for Venture X holders, etc.) over the next 18 months.
External transfer flexibility for daily use. While Marcus has higher per-transaction limits eventually, Capital One's instant transfers between internal Capital One accounts (checking, money market, CD) are smoother for households using the bank as an ecosystem.
FDIC aggregation post-merger. If you previously held the full $250,000 in a Discover account AND another $250,000 in a Capital One account, those balances were separately insured because they were at two different banks. Post-merger, they may be aggregated under a single FDIC-insured institution depending on how the legal merger finalized. Check your account documentation, and if the aggregate sits above $250K, consider moving the excess to a third bank to preserve full insurance.
What if you already have a Discover Online Savings account?
You do not have to do anything urgent. The migration is being handled by the banks, deposits stay FDIC-insured, and the existing account continues to function. Your decision is the same as any HYSA holder's: is the rate competitive, and is the experience working for you?
If the post-migration rate settles at the Capital One 360 rate (currently 3.50 percent), and Marcus is offering 3.65 percent, then on a balance over roughly $10,000 the rate difference becomes more meaningful than the friction of moving the account. Below $10,000 the dollar difference is small enough that inertia is a defensible choice.
What about Discover CDs?
Discover CDs remain available for now and continue to be competitive on rate. Capital One 360 CDs are also competitive. The 12-month rate gap between Discover CDs and Marcus CDs has historically been narrow (within 10 basis points either direction). If you have a maturing Discover CD in 2026, comparison-shop fresh at maturity — do not assume Capital One will inherit the same rate structure long-term.
Live HYSA comparison
When Discover/Capital One still makes sense
- You already use Capital One cards heavily and want one-app convenience
- You need occasional ATM access from a savings account
- You value physical branches or want to use Capital One Cafés
- The 0.15 point rate gap is not material to you at your balance level
When Marcus is the clearer pick
- The account will hold $25,000+ where the rate gap becomes real money
- You want pure HYSA simplicity with no ecosystem entanglements
- You want to diversify your cash deposits away from the bank that holds your credit card
- You prefer a rate that has held its competitive position for years versus one that has tended to lag
- ✦Discover Bank is being absorbed into Capital One — the standalone product is going away
- ✦Marcus currently pays 0.15 points more (3.65% vs 3.50%) with the same flat structure
- ✦Both are fee-free, minimum-free, fully FDIC-insured
- ✦If you have Discover savings now, no urgent action — but check rate at the post-migration mark
- ✦If you hold both Capital One and Discover accounts, verify FDIC aggregation after the merger
What to Do Now
Related guides
Rates and merger status verified May 13, 2026. Capital One / Discover integration is ongoing; product names and rates may shift as the migration completes. SwitchWize may earn referral revenue when readers open accounts through links on this site; this does not change our comparisons or editorial conclusions.
Frequently asked questions
Is Discover Bank still open for new HYSA customers?+
Do I lose my FDIC insurance during the merger?+
What is the current rate on Marcus vs the post-merger Discover/Capital One account?+
Should I move my money out of Discover before the migration completes?+
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