No monthly fees for keeping any of the bank accounts open. Brian Martucci. The Discover high-yield savings account is among the best in its online class. with select terms as short as 3 months up to 120 months • Rates ranging from 0.20% APY up to 0.60% APY. No monthly fees for checking, savings, or money market accounts. The Discover Bank site, while not as robust as the credit card site, is easy to use and offers a number of nice features. by Discover #8 in Banks. The bank headquarter is located in Greenwood, DE. Created with Sketch. Discover. Amanda Dixon is a senior banking reporter for Bankrate. "Weekly National Rates and Rate Caps - Weekly Update." You’re better off banking elsewhere, however, if you want wider access to … Here are some additional details: 0.50% APY Here, you will have access to more than 60,000 free ATMs nationwide and a mobile app earning positive scores in the App Store and Google Play. Discover Bank Online Savings Account is offered by Discover Bank, a bank founded in 1985 and based in Greenwood, DE. Brokers Websites Books Newsletters DVDs Software Banks Prop Firms Media People. Twitter Power Rating. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. No fees for official bank checks or excessive withdrawals and no insufficient fund fee. $2,500 minimum deposit needed to open an account, higher than it is at some online banks with higher yields. Discover Bank CD Rates Discover Bank CDs Discover Bank offers two types of CD accounts: a traditional CD and an IRA CD. "Discover it® Miles - Travel Credit Card." Our Discover Bank personal loan review provides important details, so you can decide if the lender is a good fit for your borrowing needs. "Site Map." • Loan amounts: $2,500 to $35,000. Discover offers a wide range of banking products - including checking, savings, CDs, and more. Cash it in: Redeem your cash back reward for cash to your account. The debit card can be used for ATM withdrawals. , In 2012, Discover Financial Services paid out $200 million to 3.5 million customers for deceptive practices—such as enrolling clients in products like its payment protection plans, without their permission. Prior to joining Bankrate, she served as a writer and editor for SmartAsset, a New York-based fintech startup. Here's what you need to know in our Discover Bank review. Quick Summary. Checking account offers cash back when its debit card is used for everyday purchases. 1 percent cash back on up to $3,000 in debit card purchases each month. Discover Bank Review: Discover Online Checking Account. Credit cards with no annual fees . 1% cash back on up to $3,000 in debit card purchases each month Opens modal dialog Great APY Rates: Discover Bank provides great APY rates so you can earn more money. Your first $3,000 in monthly debit card purchases get a 1% cashback. Easy to find. FDIC insured: Just like a traditional bank, Discover is a member of the FDIC, which means that, in the unlikely event of a bank failure, your funds are protected. Discover Bank offers competitive online banking products with decent rates. Discover offers some of the highest interest rates on bank accounts in the industry. There’s no minimum to open an account, and there’s no monthly minimum balance to keep the account open., Digital-only banks like Discover's only allow you to withdraw cash from ATMs; you can't deposit cash or physical checks. Description. Open an Account . Discover. Accessed Sept. 3, 2020. There's no minimum deposit required to open an account and no minimum balance required to waive a monthly maintenance fee. In short, if you’re looking for an all-in-one digital banking service, read this post. It’s easy to calculate on the bank's website how much interest you’ll earn based on your initial deposit. The wide range of terms available makes it easy to ladder CDs. Login or Register. As of November 25, 2020, the annual percentage yield (APY) is 0.50%, which is higher than the average national savings rate of 0.05%., Discover Bank’s no-fees features apply here too: The account is free of no monthly maintenance or insufficient funds charges. A money market account is nearly identical to a bank account with a few exceptions: First, the best money market accounts generally have high-interest rates. No opportunity to earn interest through the checking account. Average rating of 1.32 from 2545 reviews. Instead, the firm points customers to its combination of high-yield savings, money-market and CD options. Discovery Bank - APPALLING- What an embrassment Query still not resolved. They have no fees and no deposit minimums as well. This Discover Bank review examines its financial products and what you need to know before opening an account. In this review, we’ll provide you with the information you … The best Discover credit card is the Discover it® Cash Back, loved by cardholders for its rotating quarterly bonus categories. Discover Bank holds an A+ rating with the Better Business Bureau (BBB) with 58 years of continuous business served. Is Discover Bank Safe? See our Discover Bank Online Savings review & the latest Discover Promotions. APY. You can also read our community reviews and hear what Accessed Sept. 3, 2020. Accessed Sept. 3, 2020. Product Name. Discover Bank Online Savings Account is available in 50 states (and Washington, DC). Min. Learn more about Discover Bank and its products by browsing the services it offers. Discover Bank - Read unbiased reviews of Discover Bank, rated 2.3 out of 5 stars by 198 users Discovery bank is a no no. Accessed Sept. 3, 2020. A division of Discover Financial Services — the company best-known for its pioneering cashback credit card — Discover Online Banking began offering accounts in 2013. You can earn up to $360 in cash rewards each year. Account holders won't get access to an ATM card, but Discover Bank does offer free official bank checks and expedited delivery for official bank checks. Discover offers both an Individual Retirement Account CD and an IRA Savings Account. Follow her on Twitter: @amandaadixon. BR Tech Services, Inc. NMLS ID #1743443 | NMLS Consumer Access. Discover Bank Cashback Checking is available in 50 states (and Washington, DC). Whether you’re an existing Discover customer (a card-holder, loan borrower) or are a new one, you can open an account online in minutes. Easy online access. Our Discover Bank review would not be complete without talking about Discover MMAs. They offer the laundry list of bank products, from deposits (savings, checking, CD) to loans, credit cards, and everything else in between. Discover is an online bank, so they don't have many of the overhead costs that brick-and-mortar banks do. Discover. Bankrate.com does not include all companies or all available products. Bankrate does not endorse or recommend any companies. That's understandable, as the Discover Card is the fourth largest credit card issuer in the United States with approximately 44 million credit card holders. "Discover Bank offers a broad range of products, including checking and savings accounts, money market accounts, and CDs with maturity dates between three months and 10 years." "Discover it® Secured Credit Card." Discover’s high-yield certificates of deposit (CD) give you the option of tucking away a sum of money for a set amount of time. Discover. from which this website receives compensation, which may impact how, where and Discover Bank Cashback Checking is offered by Discover Bank, a bank founded in 1985 and based in Greenwood, DE. Since Discover is an online bank, you'll need to handle your business from a home computer, laptop, or mobile device. Discover Mobile is the bank’s highly rated mobile app, available on iOS (4.8 stars out of 5 on the App Store) and Android (4.5 stars on Google Play). Both your initial order and any check reorders are free of charge. Discover. 3.8K. 1.3164 2545. No fee charged by Discover to use out-of-network ATMs. No minimum deposit and no transaction fees. Accessed Sept. 3, 2020. Discover Bank is usually associated with its credit card, but for those that dig a bit deeper, there's a great bank to use here. The Discover Bank checking account can be a good option if you make debit card purchases. Discover. She enjoys providing an inside look into what banks and credit unions are up to and offering tips and tricks to help consumers save money and build wealth at every stage of their financial lives. Chase Savings offers only 0.01% to its customers and comes with a $5 monthly service fee if you don’t meet at least one of its requirements, like maintaining a $300 minimum daily balance or having a $25 recurring monthly transfer into your account. Accessed Sept. 3, 2020. An ATM card isn’t available for Discover Bank's online savings account. Discover is, of course, FDIC insured, which means that if the bank fails, you can recover your money. Discover Bank was first mentioned on PissedConsumer on Jun 12, 2014 and since then this brand received 245 reviews.. 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