Who Owns Discover
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You've probably heard of Discover credit cards, but what exactly is Discover® Bank? Is it a legitimate bank? Read on for all the details.
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Discover® Bank is an online bank with headquarters in the U.S. They are primarily known for their credit cards, but they do have a selection of deposit products too.
Because it is online, all transactions can only be done via the bank's website, the Discover Mobile App, or on the phone. But you can expect fewer fees compared to the typical brick-and-mortar bank.
Who Owns Discover® Bank?
Discover® Bank was historically a subsidiary of Discover Financial Services, a digital banking and payment services company based in Delaware. However, Discover Financial Services was acquired by Capital One.
Discover is now part of Capital One, one of the largest financial institutions in the U.S. Before the acquisition, Discover Financial Services operated as a bank holding company regulated by the Federal Reserve, with over $147 billion in assets as of early 2025, ranking among the 50 largest U.S. banking institutions.[1]
No. Discover® Bank is online only and does not have physical branches.
Is Discover® Bank Real?
Yes, Discover Bank is a legit bank based in Greenwood, Delaware, with a history going as far back as 1911. Discover is a division of Capital One, N.A., an FDIC-insured bank (FDIC Cert #4297).
Discover operates as an online-only bank, offering their services through online and mobile banking platforms. But, they are subject to the same legal regulations as any traditional bank.
What is Discover® Bank known for?
Discover is famous for their Discover-branded credit cards, which they first launched nationally in 1986. But they do have other deposit and loan products available, including a savings account, CDs, and personal loans.
In 1985, Discover acquired Greenwood Trust Company, which allowed their foray into other banking products. Greenwood Trust Company was incorporated in 1911 and was renamed to Discover Bank in 2000.
On May 18, 2025, Discover Bank was merged into Capital One, N.A., following the completion of Capital One Financial Corporation's acquisition of Discover Financial Services.
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY325 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. 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 qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 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, see FAQs on Discover.com/Bank. See advertiser website for full details.
Is Discover® Bank Safe?
Yes, it is. Your money is perfectly safe with Discover Bank, as it is covered by FDIC insurance. Your deposits are protected up to $250,000 per depositor, per ownership category.
Thus, in the unlikely event that the bank fails, you can rest easy knowing that you won't lose your savings.
Is Discover a Good Bank?
Discover is a good option if you're looking for an online-only bank. They offer a variety of banking products and services with competitive rates and features. You can also get access to their secure online website and mobile app for a seamless banking experience wherever you are.[2]
How to Reach Discover® Bank?
You can do your banking at Discover anytime by logging into your Discover Account Center, or on their Discover Mobile App available for iOS and Android.
Note that you need to be registered on the Discover Account Center to use the app.
If you need to speak to a representative, you can call their 24/7 customer support lines, depending on your concern. For phone banking or opening a new account, you can call 1-800-347-7000.
For instances where you need to send a physical letter or a check, Discover also has designated P.O. boxes you can write to.
What Is Discover Bank's Routing Number?
Discover Bank has two routing numbers.[3] For direct deposits and electronic transfers via ACH and domestic wire transfers from other banks in the U.S., it is 031100649.
For international wire transfers from banks outside the U.S., the routing number is 043000261.
Discover® Bank Products
Discover Bank has a selection of deposit accounts available, including a high-yield savings account and CDs with some competitive rates. Here's a list of what they offer.
- Discover® Online Savings Account
- Discover® Certificate of Deposit
You can open any of these accounts online through their website or you can call Discover at 1-800-347-7000.
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY325 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. 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 qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 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, 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 CY325 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. 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 qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 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, see FAQs on Discover.com/Bank. See advertiser website for full details.
Online Savings Account - Earn 3.50% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Certificate of Deposit
- 4.20% APY for 6-month term
- 4.00% APY for 12-month term
- 3.80% APY for 18-month term
- 3.80% APY for 24-month term
- 3.60% APY for 36-month term
- 3.75% APY for 5-year term
Discover® CD Rates
- No minimum opening deposit required
- No fees
- FDIC insured
| Term | CD Rates |
|---|---|
| 3 Months | 2.00% APY |
| 6 Months | 4.20% APY |
| 9 Months | 3.50% APY |
| 1 Year | 4.00% APY |
| 1.5 Years | 3.80% APY |
| 2 Years | 3.80% APY |
| 2.5 Years | 3.60% APY |
| 3 Years | 3.60% APY |
| 4 Years | 3.60% APY |
| 5 Years | 3.75% APY |
| 7 Years | 3.50% APY |
| 10 Years | 3.50% APY |
- NexBank:
High-Yield Savings Account - 4.31% APY - CIT Bank Platinum Savings:
4.00% APY - UFB Portfolio Savings:
Earn up to 4.01% APY - Western Alliance Bank:
High-Yield Savings Premier - 4.30% APY - Mission Valley Bank:
High Yield Savings Account - 4.27% APY - DR Bank:
High-Yield Savings Account - 4.25% APY - Paprika Capital Bank:
High-Yield Savings Account - 4.21% APY - Dayspring Bank:
High-Yield Savings Account - 4.11% APY - First Community Bank:
High-Yield Savings Account - 3.80% APY - RBMAX:
High-Yield Savings Account - 3.66% APY
Bottom Line
Discover Bank is an online bank that offers some impressive deposit products with attractive perks and relatively high APY.
If you're looking for an online bank, Discover is one that you can consider for your spending and savings needs.
High-Yield Savings Account - 4.31% APY
- $1 minimum deposit
- No fees
- 24/7 online access to funds
- FDIC insured
CIT Bank Platinum Savings - 4.00% APY
- 4.00% 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
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY325 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. 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 qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 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, see FAQs on Discover.com/Bank. See advertiser website for full details.
UFB Portfolio Savings - Earn up to 4.01% APY
- Earn up to 4.01% APY.*
- No monthly maintenance fees.
- No minimum deposit required to open an account.
- Access your funds 24/7 with easy-to-use digital banking tools.
- Enjoy peace of mind with FDIC insurance up to the maximum allowance limit – Certificate #35546.
High-Yield Savings Premier - 4.30% APY
- No account fees
- Option to open individual or joint account
- FDIC insured up to $250,000 per depositor
- Only $500 minimum opening deposit
High Yield Savings Account - 4.27% APY
- $1 minimum deposit
- No fees
- 24/7 online access to funds
- FDIC insured
References
- ^ National Information Center. Large Holding Companies, Retrieved 03/21/2025
- ^ Discover. Security Center, Retrieved 10/18/2023
- ^ Discover. The Basics: What is the Discover Bank Routing Number?, Retrieved 11/19/2023
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY325 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. 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 qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 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, see FAQs on Discover.com/Bank. See advertiser website for full details.
Chase Total Checking® - $300 Bonus
- New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
- Chase Mobile® app - Manage accounts, pay bills, send money to friends with Zelle® and deposit checks from almost anywhere.
- 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*
- Help keep your money protected with features like Zero Liability Protection, fraud monitoring and card lock.
- Chase Total Checking includes FDIC insurance up to the maximum amount allowed by law.
- With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
Wells Fargo Everyday Checking Account - $325 Bonus
- Get a $325 new checking customer bonus when you open an Everyday Checking account and receive $1,000 or more in qualifying direct deposits.
- Wells Fargo 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 12/31/2025.
- 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
U.S. Bank Business Essentials - $400 Bonus
Promo code Q3AFL25 MUST be used when opening a U.S. Bank Business Essentials or Platinum Business Checking account. Limit of one bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.
Earn your $400 Business Checking bonus by opening a new U.S. Bank Business Essentials account between 7/1/2025 and 9/30/2025. You must make deposit(s) of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until the 60th day after account opening. You must also complete 5 qualifying transactions within 60 days of account opening.
Qualifying transactions include debit card purchases, ACH credits, Wire Transfer credits and debits, Zelle credits and debits, U.S. Bank Mobile Check Deposit or Bill Pay. Other transactions such as (but not limited to) other Person to Person payments, transfers to credit card or transfers between U.S. Bank accounts are not eligible.
New money is considered money that is new to U.S. Bank. Funds must come from outside U.S. Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. For accounts opened on non-business days, weekends or federal holidays, the open date is considered the next business day. Account fees (e.g., monthly maintenance, paper statement fee, etc.) could reduce the qualifying daily balance, therefore you must make deposit(s) to cover the fees to maintain the daily balance during the qualifying period to be awarded the bonus. Refer to the Business Pricing Information or Business Essentials® Pricing Information Document for a list of fees.
Bonus will be deposited into your new eligible U.S. Bank Business Checking account within 30 days following the last calendar day of the month you complete all of the offer requirements, as long as the account is open and has a positive available balance.
Offer may not be combined with any other business checking account bonus offers. Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.
All regular account-opening procedures apply. For a comprehensive list of checking account pricing, terms and policies, reference your Business Pricing Information or Business Essentials® Pricing Information and YDAA disclosure. These documents can be obtained by contacting a U.S. Bank branch or calling 800.872.2657.
Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice. Member FDIC
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