Discover Bank

Discover Bank
Online Savings Account - 4.10% APY

• No minimum deposit to open.
• No monthly maintenance.
• The number of certain types of withdrawals and transfers from savings and money market accounts is limited to a combined total of 6 per calendar month per account.
• There are no limits on the number of ATM withdrawals it can be made (for money market accounts) or official checks.


Fee and Feature Guide

Savings Account
Interest Rate
APY 4.10%
Minimum deposit amount $0.00
Maximum deposit amount N/A
Balance Requirements
Minimum Opening Deposit $0.00
Minimum Balance to Avoid Fees $0.00
Minimum Required Balance $0.00
Minimum To Earn $0.00
Fees
Monthly Maintenance Fee N/A
Foreign ATM Fees N/A
Insufficient Funds Fee N/A
Incoming Wires N/A
Statements
Paper Statements ×
Online Statements Yes
Online and Telephone Banking
Online Banking Yes
Telephone Banking Yes
Mobile Banking Yes
Deposit Checks with Mobile Device Yes
Free Bill Pay Yes
Online Bill Payments Required Yes
Account Opening
Open Online Yes
Insured by F.D.I.C.



Recent Rate Changes



Date APY
September 26, 2024 4.10%
March 15, 2024 4.25%
February 8, 2024 4.30%
October 27, 2023 4.35%
October 27, 2023 4.35%


Customer Reviews for Discover Bank


  • January 10, 2024 |

    Online Savings Rates

    AVOID at all costs. We read the addendum to the final page of the LENGTHY account agreement mailed to us after completing the online portion. Guess what? It gives this sweet seeming Discover Bank access to our CELL PHONES, including FUTURE CELL PHONES, IMEI records, etc to use. This is a gross invasion of privacy. I called them closed the account immediately, before it was funded. I told them do not ever slip a key privacy invasion into an amendment of the final page of about 40 or so pages of technical jargon for the account agreement, because when word travels, I suspect this otherwise outstanding, friendly bank realize a major drop in customers. DO NOT BANK HERE UNLESS THEY CHANGE THIS DRACONIAN POLICY GRANTING THEM RECORDS TO YOUR CELL PHONE. If this has happened on April 1st, I would have though someone might be playing a prank. It is like Orwell's 1984. Disguised in a bank agreement. Again, AVOID THIS BANK. If you elect to proceed with an account, read EVERY LAST LINE of EACH PAGE. *My personal recommendation: Read it from the LAST PAGE to the FIRST PAGE.

  • August 13, 2023 |

    Great online savings account and credit card. Great ach limits, good enough apy though not the highest, and good customer service.

  • September 14, 2020 |

    Online Savings Rates

    two thumbs up

  • May 3, 2020

    Online Savings Rates

    I opened a Discover account on April 6, 2020. Deposit accepted on 10th of April. Four days after deposit, $200 bonus was credited to my account. Only issue, the dividend rate dropped from 1.5% to 1.4%, but with what's going in the world, I guess it should have been expected. Anyway, so far so good.

  • April 13, 2020 |

    Online CDs 12 Month Rates

    i have had cds at Discover Bank for 6 or 7 years. I can almost always find a little better rate but in the end the reason I stay at Discover is the phone is answered within the first 3 or 4 rings EVERY time i have called for all those years and the individual who answers IS the IRA specialist who takes care of my need then and there. never have i been put on hold or transferred to someone else.


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