Discover Bank Promotions

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.

How to Get the Best Bonus at Discover Bank

Discover Bank frequently offers cash bonuses. Keep your eye out on our page for Discover bank promotions. If you see a coupon, be aware of when the offer expires.

Cash bonus offers will usually require a promo code. In that case, we will provide the Discover offer code. Discover sign up bonuses are available to residents nationwide.

Discover Online Savings - $200 Cash Bonus
To get your $150 or $200 Bonus offer: What to do: Apply for your first Discover Online Savings Account by 4/6/20, 11:59 PM ET, online or by phone. Enter Offer Code CY320 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 4/20/20, 11:59 PM ET. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded or affinity accounts provided by Discover. Account must be open when bonus is credited. Bonus will be credited to the account by 5/4/20. Bonus is considered interest and will be reported on IRS Form 1099-INT. Offer may be modified/withdrawn without notice. See advertiser website for full details.
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Expires in 6 days

Discover Online Savings - $150 Cash Bonus
To get your $150 or $200 Bonus offer: What to do: Apply for your first Discover Online Savings Account by 4/6/20, 11:59 PM ET, online or by phone. Enter Offer Code CY320 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 4/20/20, 11:59 PM ET. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded or affinity accounts provided by Discover. Account must be open when bonus is credited. Bonus will be credited to the account by 5/4/20. Bonus is considered interest and will be reported on IRS Form 1099-INT. Offer may be modified/withdrawn without notice. See advertiser website for full details.
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Expires in 6 days

Discover Savings Bonus: $150/$200 Offer

• Maximum Bonus: $200
  
• Qualifying Deposit: $15,000+ for $150 bonus or $25,000+ for $200 savings bonus
  
• APY: 1.5%
  
• Fees: None
  
• Compound: Daily, Paid Monthly
  
• FDIC Insurance: Yes, up to $250,000
  
• Available: Nationwide
  
• Direct Deposit: Not Required
  
• Credit Check: Soft Inquiry

Discover Checking Account Bonus

Earn up to $360 cash back bonus per year with a Discover Cashback Checking account. Benefits include no monthly fees, no balance or activity requirements, and over 60,000 no-fee ATMs. Here's how the cash back work: spend $3,000 in debit card purchases each month to earn $30 monthly cash back. That equals $360 yearly cash back.

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. Discover Bank has no fees. That includes no fee to reorder checks or replace debit card. There are over 60,000 no-fee ATMs.

  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 1.5% APY with no monthly service fee or minimum opening deposit. Though it may not be the highest APY on the market, you can often find Discover bank promotions offering a cash bonus. The Discover Savings bonus usually requires a minimum deposit to qualify.

• 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. After that, 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.

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.

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
  
• $0 for stop payment
  
• $0 insufficient funds fee

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).

• How do I withdraw money from my Discover bank account?
  You can withdraw money from your Discover checking account in these ways:
  • No-fee cash withdrawals at over 60,000 Allpoint® and MoneyPass® ATMs
    
  • Online transfers to an external bank account
    
  • Choose additional cash over when you pay for purchases with your debit card
    
  • Checks (check orders are free)
    
  • Wire transfers ($30 charge for outgoing wire transfers)

  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 1.5% 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. Discover Savings bonus will only apply to the first account you open. But each savings account will earn the same high interest rate.

Discover Credit Card Promotions

• How much is Discover card cashback bonus?
  Discover It will match all the cash back you've earned at the end of your first year. This offer is only for new customers. This card earns 5% cash back in bonus categories that change each quarter (up to the quarterly maximum; requires free activation each quarter). All other purchases earn 1% cash back.

• What is the 5% cash back calendar for Discover It?
  5% cash back on up to $1,500 in purchases in rotating categories that change each quarter (requires free and easy sign-up for 5% Cashback Bonus)*
  Limitations apply*. See issuer's website for additional program details.
  Bonus Categories for 2020:
  January - March 2020: Grocery Stores, Walgreens & CVS
  April - June 2020: Gas Stations, Uber, Lyft & Wholesale Clubs
  July - September 2020: Restaurants & PayPal
  October - December 2020: Amazon.com, Walmart.com & Target.com
  

What Banks Give Bonuses for Opening Accounts?

Discover Online Savings - $200 Cash Bonus
To get your $150 or $200 Bonus offer: What to do: Apply for your first Discover Online Savings Account by 4/6/20, 11:59 PM ET, online or by phone. Enter Offer Code CY320 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 4/20/20, 11:59 PM ET. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded or affinity accounts provided by Discover. Account must be open when bonus is credited. Bonus will be credited to the account by 5/4/20. Bonus is considered interest and will be reported on IRS Form 1099-INT. Offer may be modified/withdrawn without notice. See advertiser website for full details.
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Expires in 6 days

Discover Online Savings - $150 Cash Bonus
To get your $150 or $200 Bonus offer: What to do: Apply for your first Discover Online Savings Account by 4/6/20, 11:59 PM ET, online or by phone. Enter Offer Code CY320 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 4/20/20, 11:59 PM ET. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded or affinity accounts provided by Discover. Account must be open when bonus is credited. Bonus will be credited to the account by 5/4/20. Bonus is considered interest and will be reported on IRS Form 1099-INT. Offer may be modified/withdrawn without notice. See advertiser website for full details.
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Expires in 6 days

CIT Savings Builder - $300 Cash Bonus
Open a Savings Builder account with a minimum of $100 and enter the promo code, Spring20. Fund your new account within 15 calendar days of the open date and meet one of the minimum balance requirements. Deposit $25,000 to $49,999 for $150 bonus or $50,000+ for $300 bonus. Maintain the minimum balance for 90 calendar days.
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Expires 5/30/2020

CIT Savings Builder - $150 Cash Bonus
Open a Savings Builder account with a minimum of $100 and enter the promo code, Spring20. Fund your new account within 15 calendar days of the open date and meet one of the minimum balance requirements. Deposit $25,000 to $49,999 for $150 bonus or $50,000+ for $300 bonus. Maintain the minimum balance for 90 calendar days.
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Expires 5/30/2020

Chase Premier Plus Checking℠
• Enjoy $300 as a new Chase checking customer, when you open a Chase Premier Plus Checking℠ account and set up direct deposit.
• Enjoy $300, more benefits, and earn interest on your new Chase checking account.
• The $25 Monthly Service Fee is waived when you keep an average beginning day balance of $15,000 or more in any combination of this account and linked qualifying Chase checking, savings and other balances.
• No Chase fee on first four non-Chase ATM transactions per statement period.
• Earn interest on your checking account balance.
• Access to 16,000 Chase ATMs and nearly 4,900 branches
• Open your account online now.
• Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
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Chase Total Business Checking®
• Get $200 as a new Chase business checking customer, when you open a Chase Total Business Checking® account with qualifying activities
• Access to 16,000 ATMs and nearly 4,900 Chase branches
• Chase has business specialists at your local branch to help with your business needs
• Account Alerts are a great way to stay on top of your account's activity and enhance security
• Unlimited electronic deposits at no charge, including Chase QuickDeposit℠, ACH and ATM
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HSBC Advance Checking - Up to $270 Cash Bonus
Get up to $270 with a 3% Cash Bonus Checking Offer when you open a new HSBC Advance checking account and complete the following qualifying activities.
• Open your new HSBC Advance checking account online by June 29, 2020; and
• Set up Qualifying Direct Deposits into your new HSBC Advance checking account; and then
• Enjoy 3% Cash Bonus, up to $270, on Qualifying Direct Deposits up to $50 per month, during the first 6 calendar months after account opening
• You will automatically receive the 3% Cash Bonus in your new HSBC Advance checking account approximately eight weeks after completing that month's qualifying activities.
• Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
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Expires 6/29/2020