- No monthly service fees
- Free online bill pay
- No monthly balance requirements
- Earn 0.95% APY (5x the National Average)
- $500 minimum deposit to open a savings account
At a Glance
Discover Bank is an online banking institution that does not use ChexSystems. Funds deposited through Discover Bank are protected by the FDIC. Discover Bank offers Checking, Money Market and CDs all with the ability to manage your money through online banking.
Savings Account Features
The account features no monthly fees, free online bill pay, free incoming wire transfer, no minimum balance required to earn 0.95 APY. To open a savings account a deposit of $500 is required. You have 30 days to fund the account if you choose to mail a money order, cashier’s check, personal, payroll or government check.
How it Works
Opening a Discover Savings Account is easy. It takes about 10 minutes of your time. The minimum opening deposit is $500
and can be funded immediately or money order, personal, payroll or government check can be mailed up to 30 days later.
Get Rid of ATM Fees
Stop paying to use your own money. When you use the Discover Bank ATM at a domestic ATM or Domestic ATM operator, Discover Bank will reimburse you at the end of each month for any fees charged to your account.
Discover Savings Account customers can apply for a Rewards Checking Account that pays .10 cents cash back on every transaction. There are no monthly maintenance fees, no minimum balance requirements, mobile deposits, set-up direct deposit and free recurring bill payments.