Discover Bank

Article Submitted by: BestCash Admin
Savings - Checking - CDs


The place to post comments or questions about Discover Bank.

 

Submitted: Sep 11, 2007    Views: 2359    Comments: 5    Likes: 4   


DiscoverBankUpdated 9/22/2008

Discover Bank is the banking arm of the Discover Card. The bank offers CD and Money Market accounts at competitive rates.

Stand out rates include a 2 Year CD paying 4.44% APY, up from 4.41% APY in August and 3 Year CD paying 4.75% APY.  Both have a $2,500 minimum balance.  Both the 2 Year and 3 Year CD rates are amongst the top CD rates on the BestCashCow CD rate tables.  Discover is also offering a 5 year CD that pays 5.28% APY.

Discover also offers a 3.04% APY Money Market Account.

Discover not only offers competitive rates, but the bank is considered financially sound, having received a 4 Star Soundness score in the September 2008 update from Bauer Financial.




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Comments Received:

James. H
(Unregistered)

This rate only applies until mid august. After that, this rate will drop back down to 3.05% or lower.

Posted: Jul 23, 2008

BestCash Admin

James, I'm not sure which rate you are referring to. As far as we can tell, there is no date on when the rates expire. Discover can, like any bank, lower the rate it is offering at any time.

Posted: Aug 14, 2008

James H.
(Unregistered)

Hello Admin,

theres something wrong with the link on the following page----->
http://www.bestcashcow.com/cash_equivalents/savings.html.

when you click on HSBC's "post/read reviews for this bank", it takes you to discover bank page.

Posted: Aug 25, 2008

Mary Crowell
(Unregistered)

Discover Bank's online banking system is deplorable.
24 to 48 hours means 6 days. We have not been able to get satisfaction from anyone by telephone and therefore are now struggling to close the account we opened in early August. We were trying to deposit additional funds and found it could not be done!

Posted: Aug 29, 2008

Seth
(Unregistered)

I had no problem opening my account. My account was opened within 2 business days. Mary, did you try opening it over the weekend? Maybe that was the problem?

Posted: Sep 22, 2008



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