Discover Bank Promotions
Read our in-depth review of Discover Bank to see why Discover Bank scored 4.6 stars out of 5. We like their high yield, no fees, and 24/7 customer service.
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/13/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding your Account, see FAQs on Discover.com/Bank. See advertiser website for full details.
Discover® Online Savings - $150 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/13/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding your Account, see FAQs on Discover.com/Bank. See advertiser website for full details.
Online Savings Account - Earn 4.10% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Online Checking Account - Earn Cash Back
- 1% cash back on up to $3,000 in debit card purchases each month. See website for details
- No fees
- Early Pay - Get your paycheck up to two days early with no charge
- No credit impact - You can apply without affecting your credit score.
- Access to over 60,000 no-fee ATMs in the U.S.
Discover® Cashback Checking - Up to $30/Month Cashback
Earn 1% cash back on up to $3,000 in debit card purchases each month, for a total of up to $30 cashback per month. Discover Cashback Debit checking account has no minimum balance requirement, no fees, and free online bill pay. See website for details.
Certificate of Deposit
- 4.10% APY for 12-month term
- 3.80% APY for 18-month term
- 3.50% APY for 36-month term
- 3.40% APY for 5-year term
Money Market Account
- Earn 3.90% APY for balances under $100,000
- Earn 3.95% APY for balances $100,000 and over
Discover® CD Rates
- $2,500 minimum opening deposit
- No fees
- FDIC insured
| Term | CD Rates |
|---|---|
| 3 Months | 2.00% APY |
| 6 Months | 3.90% APY |
| 9 Months | 4.00% APY |
| 1 Year | 4.10% APY |
| 1.5 Years | 3.80% APY |
| 2 Years | 3.60% APY |
| 2.5 Years | 3.50% APY |
| 3 Years | 3.50% APY |
| 4 Years | 3.40% APY |
| 5 Years | 3.40% APY |
| 7 Years | 3.40% APY |
| 10 Years | 3.40% APY |
IRA Certificate of Deposit
- 4.10% APY for 12-month term
- 3.50% APY for 36-month term
- 3.40% APY for 5-year term
IRA Certificate of Deposit - Up to 4.10% APY
- $2,500 minimum opening deposit
- No fees
- FDIC insured
| Term | CD Rates |
|---|---|
| 3 Months | 2.00% APY |
| 6 Months | 3.90% APY |
| 9 Months | 4.00% APY |
| 1 Year | 4.10% APY |
| 1.5 Years | 3.80% APY |
| 2 Years | 3.60% APY |
| 2.5 Years | 3.50% APY |
| 3 Years | 3.50% APY |
| 4 Years | 3.40% APY |
| 5 Years | 3.40% APY |
| 7 Years | 3.40% APY |
| 10 Years | 3.40% APY |
| 6 hours ago | Discover® Online Savings - $200 Cash Bonus selected by a visitor from New York |
| 10 hours ago | Online Savings Account - Earn 4.10% APY selected by a visitor from Illinois |
| Yesterday | Discover® Online Savings - $150 Cash Bonus selected by a visitor from California |
| Yesterday | Certificate of Deposit selected by a visitor from Kentucky |
| 5 days ago | IRA Certificate of Deposit selected by a visitor from Ohio |
Compare Promotions
High-Yield Savings Premier - 5.01% APY
- No account activity or maintenance fees
- $500 minimum opening deposit
- FDIC insured
Chase Total Checking® - $300 Bonus
- New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
- With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
- Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
- JPMorgan Chase Bank, N.A. Member FDIC
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
- Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Bank of America Advantage Banking - $300 Bonus Offer
- The $300 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new checking customers only.
- Offer expires 01/31/2025.
- To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
- Bank of America, N.A. Member FDIC.
High Yield Savings Account - 4.70% APY
- No fees
- $1 minimum deposit
- 24/7 online access
- FDIC insured
CIT Bank Platinum Savings - 4.70% APY
- 4.70% APY with a balance of $5,000 or more
- 0.25% APY with a balance of less than $5,000
- $100 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
About Discover Bank
Discover® Bank offers some of the highest interest rates for its savings account. In addition, Discover offers cashback checking. There are no fees for checking and savings accounts.
We rank Discover Bank as one of the top online banks in the nation. Discover offers some of the highest interest rates on savings products. There are no fees including minimum or service fees for Discover® Savings Account.
Read our full review of the pros and cons of Discover Bank.
What to Open at Discover Bank
- Cashback Debit. You earn 1% cash back on up to $3,000 in debit card purchases each month (up to $30/month). There is no minimum balance requirement. Discover Bank has no fees. That includes no fee to reorder checks or replace debit card. There are over 60,000 no-fee ATMs. See website for details.
The Discover debit card also has no foreign transaction fee, which is rare for debit cards.
- Online Savings Account. Discover® Online Savings Account offers a high 4.10% APY with no monthly service fee or minimum opening deposit.
- Money Market Account. The Money Market account offers a high, competitive APY and more money flexibility. You get a free debit card and checks. You can write checks, pay bills, and make debit card purchases (up to 6 of these types of transactions per month). You can make unlimited ATM withdrawals.
There is no minimum balance requirement.
- 12-month CD. Discover offers one of the best APYs for a 12-month CD. The minimum deposit to open is $2,500. If you can commit to not touching that money for a year, then you'll get a higher APY than with the regular savings account.
- Discover credit cards. Discover® Bank offers some popular credit cards, all with no annual fee. You can find a wide array of options, including credit cards for cash back, travel rewards, student, business, and bad credit. All Discover credit cards have no foreign transaction fee.
Discover Bank accounts are safe and offers some of the highest interest rates on online savings. Discover Bank accounts are FDIC insured up to $250,000. This means:
- All individual accounts combined are insured up to $250,000
- All joint accounts combined are insured up to $250,000
- All Traditional and Roth IRA accounts combined are insured up to $250,000
What Not to Open at Discover Bank
- Short term CDs. For CD terms less than 12 months, the interest rate isn't great. In this case, it's much better to just save your money into the Discover Online Savings Account.
What You Need to Apply
- Social Security number or taxpayer ID
- Name and address
- Date of birth
- Email and phone number
- Account information to fund your account
Monthly Fees
Discover Bank has no fees at all. Many other banks have a monthly fee if you do not meet a minimum balance or direct deposit requirement. With Discover, there are no fees and it is still a member FDIC bank so your money is safe.
Online Savings:
- $0 monthly service fee
- $0 for official bank check & expedited delivery
- $0 for deposited item returned
- $0 for incoming wire
- $0 for each excessive withdrawal
- $0 for stop payment order
- $0 insufficient funds fee
Money Market:
- $0 minimum balance fee
- $0 ATM fee at over 60,000 ATMs in the US
- $0 for check order
- $0 for replacement debit card
- $0 for deposited item returned
- $0 for incoming wire
- $0 for each excessive withdrawal
- $0 for stop payment
- $0 insufficient funds fee
Certificate of Deposits:
- $0 monthly service fee
- $0 for official bank check
- $0 for incoming wire
Discover Bank Locations
Discover is an online bank, which means you can't just walk into a neighborhood branch to do business and ask questions.
Discover only has 2 physical locations in Delaware:
- A full service bank at 502 E. Market Street, Greenwood, DE
- An administration office at 12 Read's Way, New Castle, DE
Common Questions
- Is Discover a bank?
Discover is an online bank based in Greenwood, Delaware. It was originally established in 1911 as Greenwood Trust Company and was acquired by Discover in 1985. Discover offers a full range of services, including online banking, loans, and Discover credit cards. - Is Discover bank safe?
Yes, though it's an online bank, Discover Bank is FDIC insured. That means you are protected against the loss of your deposit if the bank fails, up to $250,000. This makes Discover a good place to save and earn more interest on your savings. - Does Discover Bank offer checking accounts?
Yes, Discover offers a Cashback Debit checking account with no minimum balance or activity requirements and no fees. You earn 1% cash back on up to $3,000 in debit card purchases each month (up to $30/month). See website for details. - How do I withdraw money from my Discover bank account?
Discover savings account does not offer an ATM card. You can withdraw by transferring funds to your Discover checking account or to an external bank account.Federal law limits you to 6 withdrawals and transfers per month for savings accounts. However, there are no limits on official checks mailed to you. - How long does it take to deposit money to Discover?
Funds from ACH credit transfers and wire transfers initiated at an external bank to Discover will be available for withdrawal on the business day they receive the deposit.Funds from ACH transfers initiated at Discover Bank (to be withdrawn from your external bank account) are generally available within 4 business days after the date your request was initiated.
Sometimes the availability of funds may be delayed up to 10 business days. For instance, if you are a new customer or if you have overdrawn your account repeatedly in the last 6 months.
Note: Business Days are Monday through Friday, excluding Federal Reserve Bank Holidays.
- How often is Discover savings account compounded?
Discover Online Savings offers 4.10% APY. The interest is compounded daily and deposited monthly. You'll start earning interest as soon as you deposit money into a Discover savings account. - Can you deposit cash with Discover Bank?
Discover Bank does not accept ATM cash deposits. Customers can deposit cash into a separate checking account, such as one with a local bank or credit union, and then transfer the money into a linked Discover Bank account. - Can I have 2 Discover Savings Accounts?
Discover Bank has no limit on the number of online savings accounts you can open.
What Banks Give Bonuses for Opening Accounts?
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/13/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding your Account, see FAQs on Discover.com/Bank. See advertiser website for full details.
Discover® Online Savings - $150 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/13/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding your Account, see FAQs on Discover.com/Bank. See advertiser website for full details.
Bank of America Advantage Banking - $300 Bonus Offer
- The $300 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new checking customers only.
- Offer expires 01/31/2025.
- To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
- Bank of America, N.A. Member FDIC.
HSBC Premier - Earn Up to $2,500
Start an HSBC Premier relationship today. You'll enjoy premium banking with both local and global benefits and access to wealth solutions offered through HSBC Securities, (USA), Inc*.
You could earn $1,500 or $2,500 if you open a new, eligible HSBC Premier checking account from July 1, 2024 through November 22, 2024, and complete qualifying activities.
- Get a $1,500 Cash Bonus: Add New Money of $100,000 to $249,999 in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months.
- Get a $2,500 Cash Bonus: Add New Money of $250,000+ in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months.
- Cash Bonus will be deposited into your new checking account within 8 weeks of meeting all the offer requirements.
Chase Total Checking® - $300 Bonus
- New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
- With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
- Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
- JPMorgan Chase Bank, N.A. Member FDIC
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
- Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
What the Experts Say
CreditDonkey asked a panel of industry experts to answer readers' most pressing questions. Here's what they said:
Highlights
4.10% APY
2.00% to 4.10% APY depending on terms. $2,500 minimum
Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details
3.90% APY under $100,000; 3.95% APY $100,000 or more.
Over 60,000 no-fee ATMs
24/7
9-month CD APY of 4.00%. 12-month CD APY of 4.10%. 18-month CD APY of 3.80%. 24-month CD APY of 3.60%. 5-year CD APY of 3.40%.
Online Only
- Pricing information and data points from published website as of 09/25/2024.
- For the complete terms and conditions, view the merchant's website. While reasonable effort has been made to maintain accurate and updated information, the information shown on this site may vary, be out of date, or not applicable to you. All information is provided without warranty. Please review the terms and conditions on the merchant's website.
More Information
| ||
| Visit Site | Learn More | |
Discover Bank | Capital One | |
|---|---|---|
Benefits and Features | ||
| Savings | ||
| CD | 2.00% to 4.10% APY depending on terms. $2,500 minimum | 3.50% to 4.30% APY. Terms of 6 months to 5 years. 12-month CD APY of 4.20% |
| Checking | Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details | |
| Money Market | 3.90% APY under $100,000; 3.95% APY $100,000 or more. | |
| ATMs | over 70,000 no-fee Capital One, MoneyPass, and Allpoint ATMs | |
| Customer Service | ||
| IRA CD | 9-month CD APY of 4.00%. 12-month CD APY of 4.10%. 18-month CD APY of 3.80%. 24-month CD APY of 3.60%. 5-year CD APY of 3.40%. | |
| Locations | ||
| Visit Site | Learn More | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Discover Bank: Pricing information and data points from published website as of 09/25/2024. Capital One: Pricing information from published website as of 09/27/2024. | ||
More Deals to Save Money at Discover Bank
9 Month CD - 4.00% APY
6 Month CD - 3.90% APY
2 Year CD - 3.60% APY
3 Year CD - 3.50% APY
30 Month CD - 3.50% APY
10 Year CD - 3.40% APY
4 Year CD - 3.40% APY
5 Year CD - 3.40% APY
3 Month CD - 2.00% APY
18 Month CD - 3.80% APY
7 Year CD - 3.40% APY
Discover Bank Alternatives
Chase Secure Banking℠ - $100 Bonus
- New Chase checking customers enjoy a $100 checking account bonus when you open a Chase Secure Banking℠ account with qualifying transactions. Open online or at any Chase branch.
- Set up direct deposit and you may get your money up to two business days early-exclusively for Chase Secure Banking℠ customers.
- No minimum deposit to open an account and get started plus no overdraft fees with a Chase debit card that helps you stay within your balance.
- No need to worry about overdraft fees - Chase Secure Banking℠ allows you to spend only the money you have available.
- Chase Secure Banking℠ customers told us they save an average of more than $40 per month on fees after opening their account.
- Pay bills, cash checks and send or receive money with Zelle® with a Chase Secure Banking℠ account.
- Bank from anywhere with access to more than 15,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile® app and Chase.com.
- JPMorgan Chase Bank, N.A. Member FDIC.
Bank of America® Business Advantage Banking Checking Account - $200 Bonus Offer
- The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new eligible business checking customers only.
- Offer expires 12/31/2024.
- To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30) days of account opening.
- Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- *New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or
Merrill investment accounts.
- ** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
- Bank of America, N.A. Member FDIC
CIT Bank Savings Connect - 4.35% APY
- Earn 9x the national average
- $100 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
Free Business Checking - Earn $300 Bonus
To earn the $300 bonus, customers must apply for a Bluevine Business Checking account anytime between now and 12/31/2024 using the referral code CD300.
After opening the account, customers must add funds within 30 days, then meet at least one of the following eligibility requirements every 30 days for the next 90 days from account funding:
- Deposit at least $5,000 from eligible merchant services to your Bluevine account OR
- Make at least $5,000 of outbound payroll payments from your Bluevine account using eligible payroll providers OR
- Spend at least $2,000 with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®
Banking services provided by Coastal Community Bank, Member FDIC
Free Checking Account for Small Business Owners
- Sign up in 3 minutes; no credit check
- No account fees - $0 monthly fee, overdraft fee, foreign transaction fee, or ATM fees at approximately 40,000 locations
- Automatic Savings
- Get paid up to 2 days early
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