Check Rates . While federal law Regulation D prohibits account holders from making more than six withdrawals or transfers per from a money market or savings account within a month, you won’t be dinged with a fee for excessive withdrawals, either (note: due to the COVID-19 crisis, the Federal Reserve Board is allowing financial institutions not to enforce Regulation D ). No one has contacted me despite some "AJ" having promised. If you’d like an easy online bank to work with that also offers a wide range of services such as credit cards, student loans, and CDs, then Discover Bank might be right up your alley. Discover Bank is one of the largest banks mostly known for their credit cards. Virtually, a digital institution, it operates online, through its app and via a vast network of more than 60,000 ATMs. Discover savings interest rates and fees are hard to overlook when comparing them to the signature savings accounts from America’s largest bank. There are two interest rates: If your balance is less than $100,000, you’ll earn an APY of 0.35%. Discover. 14. Description. Discover Bank Cashback Checking is available in 50 states (and Washington, DC). Discover Bank Review: Discover Online Checking Account. J.D. We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners. 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. November 2, 2020 Advertiser Disclosure Advertiser Disclosure. Discover Bank has created a suite of banking products that can actively compete in today’s market. The Discover Cashback Debit account is a good option for those who don’t want to jump through a lot of hoops to avoid fees. If you’re looking for an online bank with more There's no minimum deposit required to open an account and no minimum balance required to waive a monthly maintenance fee. Accessed Sept. 3, 2020. When you hear the name “Discover,” you probably think of Discover Card. In this review, we’ll cover why you might want an online savings account, Discover’s products, rates, and fees. Pay a bill online: Every bill you pay online earns 10¢. However, Discover Online Banking's options are limited to the bare bones of banks: checking, savings, certificates of deposits, and money market accounts. These include white papers, government data, original reporting, and interviews with industry experts. The Discover high-yield savings account is among the best in its online class. Discover customers have access to a full suite of financial products and services. Accessed Nov. 25, 2020. Doug Bonderud – Contributing Writer Last Updated: September 3, 2020. Account holders can pay credit card bills and check bank accounts through the same app and website. Reviewed By Jackie Lam. Discover Bank Online Savings Account is offered by Discover Bank, a bank founded in 1985 and based in Greenwood, DE. Discover Bank customers with a checking account can earn 1% cash back on up to $3,000 monthly in purchases using their debit card, for a maximum of $30 back. In this review, we’ll provide you with the information you … Your CD needs to be open for at least eight days before you can pull money. Quick Summary. The company's customer reps are friendly and knowledgable, but it's not the same as developing a relationship with the personnel at a physical branch. Discover Bank provides great APY rates so you can earn more money. Discover Bank Details. Overall review of Discover Bank’s deposit products. However, if it’s a recurring problem, your account might fall in danger of being closed. Open an Account . FDIC. "Federal Deposit Insurance Corporation and Consumer Financial Protection Bureau Order Discover to Pay $200 Million Consumer Refund for Deceptive Marketing." The bank headquarter is located in Greenwood, DE. Get insider access to our best financial tools and content. Discover Bank, an online financial institution, is currently offering generous bonuses when you apply for some of their accounts including checking, savings, money market and even CDs!To find out if Discover Bank is right for you, continue reading the review below.. The debit card can be used for ATM withdrawals. Discover. Search 10,341 Financial Products . Promotions. from which this website receives compensation, which may impact how, where and Bankrate does not endorse or recommend any companies. This allows Discover to offer no minimum deposit and a high APY on its Online Savings Account. With no-fee bank accounts and a massive ATM network, Discover is worth a look. Created with Sketch. The bank has financial solutions across almost every area of personal finance, from credit cards to student loans and home loans. Its savings accounts, money market accounts and certificates of deposit all earn at rates well above the national average.Perhaps more notable is the bank’s checking account, which earns 1% cash back on your debit card purchases.. Discover Bank Online Savings Account is available in 50 states (and Washington, DC). Money market accounts are similar to savings accounts in that they’re a deposit account that generates interest on your money. Discover’s credit cards have a lot to offer as well. Discover also doesn’t charge any monthly service fees. Accessed Sept. 3, 2020. "CD Rates." If you’re looking for easy banking options with no hidden fees and decent interest, Discover Bank is a good choice. Cash-back rewards from a debit card. The card is FREE (no annual fee), billing is accurate, and their attention to online and PoP purchases is exemplary. Power Finds, Federal Deposit Insurance Corporation and Consumer Financial Protection Bureau Order Discover to Pay $200 Million Consumer Refund for Deceptive Marketing, Typically use their debit card for day-to-day transactions, Prefer to bank with an established "name" financial institution. Opens modal dialog. • Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! Discover. Early withdrawal penalties vary depending on the CD term. If you're looking for a financial institution that offers a full suite of products and services (i.e., credit cards, mortgages, personal loans, and wealth management), you might be better off looking elsewhere. No monthly fees for keeping any of the bank accounts open. 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. Learn more about Discover Bank and its products by browsing the services it offers. Discover Bank ranks high in almost all customer experience categories. "Online Banking FAQ." Sears’ bank, the Greenwood Trust Co., was later renamed Discover Bank in 2000. Discover Online Banking is an excellent option for those who feel comfortable with a completely digital financial platform. Minimum deposit needed to open account is higher than it is at some online banks offering higher yields. 1 percent cash back on up to $3,000 in debit card purchases each month. with select terms as short as 3 months up to 120 months • Rates ranging from 0.20% APY up to 0.60% APY. In this Discover Bank review, I’ll discuss four of their main banking products, and share what I think about each one. APY. Accessed Sept. 3, 2020. This table does not include all companies or all available products. The Discover Bank checking account can be a good option if you make debit card purchases. Discover Bank Online Savings Account Review. Discover uses state-of-the-art encryption to protect your transactions and data. 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. Online bank accounts from Discover include no hidden fees, 24/7 U.S.- Based customer service and 60,000 no-fee ATMs in the U.S. Open an online bank account today. Discover. The penalty for CDs maturing in one to four years is six months of simple interest. Accessed Sept. 3, 2020. Banking. This Discover Bank review examines its financial products and what you need to know before opening an account. $0. Money market account has check-writing privileges. Accessed Sept. 3, 2020. "Discover It® Cash Back Credit Card." Discover charges no application fees, origination fees or appraisal fees to qualify for a home equity loan. Here are some additional details: 0.50% APY Discover Bank Cashback Checking is offered by Discover Bank, a bank founded in 1985 and based in Greenwood, DE. I am very pleased with Discover Bank online. Here's what you need to know in our Discover Bank review. Discover. "Money Market Account." Updated Nov 30, 2020 . The Customer Service reps were knowledgeable and are available 24 hours a day. "Weekly National Rates and Rate Caps - Weekly Update." 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. Read our full review of the Discover it® Cash Back. Discover Bank CD Rates Discover Bank CDs Discover Bank offers two types of CD accounts: a traditional CD and an IRA CD. Lastly, if awards are important to you, they have a 5 Star Rating Safe & Sound from … At a Glance. There are higher savings APYs available at other banks. FDIC insures your deposits up to $250,000. Accessed Sept. 3, 2020. "Discover it® Secured Credit Card." Yields are competitive but low compared with what other online banks offer. Accessed Sept. 3, 2020. In short, if you’re looking for an all-in-one digital banking service, read this post. Accessed Sept. 3, 2020. The app lets you deposit checks, pay your bills and find out account information without logging in, among other things. "Checking Account." "Site Map." No CD specials or non-traditional products are offered. The grace period for making a decision after your CD matures is nine days, rather than 10. Discover. Sign up now. Accessed Sept. 3, 2020. The wide range of terms available makes it easy to ladder CDs. That if the Bank accounts in one place this is currently the only checking option offered by Bank! Purchases is exemplary in our Discover Bank provides great APY rates: Discover Bank is an independent, comparison... With a great option for those seeking a digital institution, it operates online through! 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