Memo Bank vs Discover Bank.
Memo Bank (M72/100) and Discover Bank (D60/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Memo Bank leads Discover Bank 4-3.
| D Discover Bank №51 · OCC 60 /100 | M Memo Bank №31 · ACPR 72 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 60 /100 | 72 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €449 /mo |
| FX markup Debit card abroad | Interbank | 0.50% |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Payment inst. OCC | Full bank ACPR |
| Deposit guarantee Per depositor | Safeguarded US.FDIC | €100,000 EU.DGS.FR |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | No |
| UX | ||
| Trustpilot Customer score | — | 4.6 ★ 0k reviews |
| App store iOS + Android avg | 4.8 ★ iOS 4.8 · And 4.7 | 4.5 ★ iOS 4.5 · And 4.4 |
| Read review → | Read review → | |
Pick Discover Bank if…
OCC-chartered direct bank, integrated with the Discover Card network. Famous for zero foreign-transaction fees + 1% cashback debit. Fully FDIC-insured. The card-network-integrated alternative to Ally for travellers + cashback-driven readers.
Pick Memo Bank if…
The French mid-market SME bank that fills the structural gap between Qonto (freelancer-and-SME-led, ACPR credit institution) and chartered legacy banks (BNP Paribas Business, Société Générale Business). Full ACPR credit-institution licence with DGS protection. Mid-market SME tier (€1M-100M revenue) is the target audience; API-first treasury + Pennylane integration is the SMB-tech moat.
- Best for fees Discover Bank won 2 of 4
- Best for protection Memo Bank won 2 of 2
- Best for reach Tied
- Best for ux Tied
Memo Bank vs Discover Bank — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Discover Bank better than Memo Bank?
Under our v3 methodology, Memo Bank leads Discover Bank 4–3 across 12 dimensions. Composite scores: Discover Bank 60/100 vs Memo Bank 72/100. Memo Bank is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Discover Bank or Memo Bank cheaper?
Monthly fee — Discover Bank: €0; Memo Bank: €449. Card FX markup — Discover Bank: Interbank; Memo Bank: 0.50%. Discover Bank wins more fee rows (2 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Discover Bank or Memo Bank?
Discover Bank holds a Payment inst. licence under OCC; deposit guarantee per depositor: Safeguarded. Memo Bank holds a Full bank licence under ACPR; deposit guarantee per depositor: €100,000. Memo Bank is the stronger pick on regulatory protection.
Where can I use Discover Bank and Memo Bank?
Discover Bank operates in 1 country; Memo Bank operates in 1 country. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
Want a 3- or 4-way comparison?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.