Discover Bank Money Market Account Review

Discover Bank Money Market Account is offered by Discover Bank, a bank founded in 1985 and based in Greenwood, DE. Discover Bank Money Market Account is offered in 50 states (and Washington, DC).

Are money market accounts from Discover Bank federally insured?

Yes, your Discover Bank money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

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.

What are the Discover Bank Money Market Account fees?

Discover Bank Money Market Account does not charge a monthly maintenance fee.

What is the minimum balance for Discover Bank Money Market Account?

Minimum initial deposit of $2. You must make an initial deposit of at least $2 to open this account.

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.