Discover Bank Money Market Account
in Money Market Accounts from Discover BankClaimed
|APY||1.95% - 2%|
Discover Bank Money Market Account Review
Discover Bank is based in Greenwood, DE. It was founded in 1985 and offers its money market accounts in 50 states (and Washington, DC).
If you're considering a money market account and want to know whether Discover Bank Money Market Account is right for you, read on.
Is Discover Bank Money Market Account insured by the FDIC?
FDIC insured. Discover Bank Money Market Account is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC insures deposits in money market accounts up to $250,000 per depositor if a member institution fails.
What are the Discover Bank Money Market Account rates?
Discover Bank Money Market Account offers an APY starting at 1.95% and ranging up to 2% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1% APY. However, to earn interest you must keep a minimum balance of $2500.
|APY (Annualized Percentage Yield)||1.95% - 2%|
What are the Discover Bank Money Market Account fees?
Discover Bank Money Market Account does not charge a monthly maintenance fee. This account charges a monthly maintenance fee of up to $10. You can avoid this fee by maintaining a balance of $2,500.Discover Bank will charge you a $15 fee if you exceed your maximum number of monthly transactions.
Federal regulations limit the number of transactions you can make from your money market account to six per month.
|Monthly Fee||up to $10|
|Paper Statement Fee||N/A|
|Excess Transaction Fee||$15|
What is the minimum balance for Discover Bank Money Market Account?No minimum initial deposit. Discover Bank does not require a minimum initial deposit to open an account. Monthly maintenance minimum balance of $2,500. You can avoid the monthly fee if you keep a minimum balance $2,500. Interest rate minimum balance of $2,500. You must keep the account balance above $2,500 to earn interest.
What features and perks does Discover Bank Money Market Account offer?This account does not seem to offer any of the features and perks we track.
How to open an account with Discover Bank
- Visit the Discover Bank website.
- Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
- Check the information is accurate and submit your application.
502 E. Market Street
Greenwood, DE 19950 USA
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Other Services by Discover Bank
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia