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Discover Bank Promotions

Read our in-depth review of Discover Bank to see why Discover Bank scored 4.8 stars out of 5. We like their high yield, cashback checking, and 24/7 customer service.

    Online Savings Account - Earn 2.10% APY

    • No minimum opening deposit
    • No monthly fee
    • No minimum balance required to waive monthly fee

    Certificate of Deposit

    • 2.65% APY for 12-month term
    • 2.70% APY for 24-month term
    • 3.00% APY for 5-year term

    Online Checking Account - Earn Cash Back

    • 1% cash back on up to $3,000 in debit card purchases each month
    • No monthly fee
    • Access to over 60,000 no-fee ATMs in the U.S.

    Money Market Account

    • Earn 1.95% APY for balances under $100,000
    • Earn 2.00% APY for balances $100,000 and over

    IRA Certificate of Deposit

    • 2.65% APY for 12-month term
    • 2.70% APY for 24-month term
    • 3.00% APY for 5-year term
    $150

    Discover Online Savings - $150 Cash Bonus

    Apply for your first Discover Online Savings Account by 6/3/19, online or by phone. Enter offer code NPBG519 when applying. 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. Deposit must be posted by 6/17/19, 11:59 PM ET. Maximum bonus eligibility is $200.

    Expires 6/3/2019
    $200

    Discover Online Savings - $200 Cash Bonus

    Apply for your first Discover Online Savings Account by 6/3/19, online or by phone. Enter offer code NPBG519 when applying. 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. Deposit must be posted by 6/17/19, 11:59 PM ET. Maximum bonus eligibility is $200.

    Expires 6/3/2019
    $30

    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 Checking has no minimum balance requirement, no monthly service fee, and free online bill pay.

Compare Promotions


About Discover Bank

Discover Bank offers some of the highest interest rates for its savings products. In addition, Discover offers cashback checking. There are no service fees for the banking accounts.

Discover Bank Promotions

Discover Bank frequently offers cash bonuses for new banking customers. Keep your eye out on our page for coupons. If you see one, be aware of when the offer expires and act on it quick.

Discover promotions are available to residents nationwide.

What to Open at Discover Bank

  • Cashback Checking. 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. You also get a fee forgiveness each calendar year. There is no fee to reorder checks or replace debit card. There are over 60,000 no-fee ATMs.

  • Online Savings Account. Discover online savings account offers a high 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. The minimum to open is $2,500.

  • 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.

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.

Monthly Fees

Here are the fees for each Discover account.

Cashback Checking:

  • $0 monthly service fee
  • $0 ATM fee at over 60,000 ATMs in the US
  • $0 for online bill pay
  • $0 for check order
  • $0 for replacement debit card
  • $0 for official bank check
  • $0 for outbound ACH transfers
  • $0 for deposited item returned
  • $0 for incoming wire
  • $30 for outgoing wire
  • $15 for stop payment (per request)
  • $30 insufficient funds fee (1 max per day)

Online Savings:

  • $0 monthly service fee
  • $0 for official bank check & expedited delivery
  • $0 for deposited item returned
  • $0 for incoming wire
  • $15 for each excessive withdrawal
  • $15 for stop payment order for 6 months
  • $30 for outgoing wire
  • $30 insufficient funds fee (1 max per day)

Money Market:

  • $10 monthly service fee if average daily balance falls below $2,500
  • $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
  • $15 for each excessive withdrawal
  • $15 for stop payment (per request)
  • $30 for outgoing wire
  • $30 insufficient funds fee (1 max per day)

Certificate of Deposits:

  • $0 monthly service fee
  • $0 for official bank check
  • $0 for incoming wire
  • $30 for outgoing wire

    Highlights

    Savings
    2.10% APY. No monthly service fee and no minimum deposit.
    CD
    0.35% to 3.10% APY. Terms of 3 months to 10 years. 12-month CD APY of 2.65%. 5-year CD APY of 3.00%. Minimum deposit of $2,500 to open.
    Checking
    Earn 1% cashback on up to $3,000 in debit card purchases each month. No monthly service fee and no minimum deposit.
    Money Market
    1.95% APY under $100,000; 2.00% APY $100,000 or more. No monthly service fee. $2,500 minimum deposit.
    Customer Service
    24/7
    ATMs
    Over 60,000 no-fee ATMs
    IRA CD
    12-month CD APY of 2.65%. 24-month CD APY of 2.70%. 5-year CD APY of 3.00%.
    Locations
    Online Only

    More Information

  • Pricing information from published website as of 5/15/2019
  • 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.
 Discover BankAlly Bank
 Visit SiteLearn More
 

Discover Bank

Ally Bank

 

Benefits and Features

Savings2.10% APY. No monthly service fee and no minimum deposit.2.20% APY. No monthly service fee and no minimum deposit.
CD0.35% to 3.10% APY. Terms of 3 months to 10 years. 12-month CD APY of 2.65%. 5-year CD APY of 3.00%. Minimum deposit of $2,500 to open.0.75% to 3.00% APY. Terms of 3 months to 5 years. 12-month CD APY of 2.70%. No minimum deposit to open.
CheckingEarn 1% cashback on up to $3,000 in debit card purchases each month. No monthly service fee and no minimum deposit.0.10% APY under $15,000; 0.60% APY $15,000 or more. No monthly service fee and no minimum deposit. Ally will refund ATM fees for other banks up to $10 per statement cycle.
Money Market1.95% APY under $100,000; 2.00% APY $100,000 or more. No monthly service fee. $2,500 minimum deposit.0.90% APY under $25,000; 1.00% APY $25,000 or more. No monthly service fee and no minimum deposit.
Customer Service
24/7
24/7
ATMs
Over 60,000 no-fee ATMs
Over 43,000 no-fee Allpoint ATMs
IRA CD12-month CD APY of 2.65%. 24-month CD APY of 2.70%. 5-year CD APY of 3.00%. 
Locations
Online Only
Online Only
 Visit SiteLearn 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 from published website as of 5/15/2019

Ally Bank: Pricing information from published website as of 5/14/2019.


Discover Bank Alternatives


Articles on Discover Bank

    Discover Bank

    February 8, 2018 - Reviews for Discover Bank
    Discover offers high interest rates on its online savings and CD accounts. But there are downsides. Here's what you need to know before you open an account.

    Discover Savings Review

    May 20, 2019 - Reviews for Discover Bank
    Discover Bank online savings account offers a high interest rates and no monthly fees. But is it the right place for your money? Read on to find out, plus the best way to open an account.

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About CreditDonkey®
CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the card offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.