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  Discover Bank Money Market Account

Discover Bank Money Market Account

in Money Market Accounts from Discover Bank

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Discover Bank Money Market Account

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in Money Market Accounts from Discover Bank

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Community Rating

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APY (Annual Percentage Yield) 1.55% - 1.60%
APY Minimum Balance N/A
Minimum Initial Deposit $2,500

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 available 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 1.55% and ranging up to 1.60% (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.

Discover Bank Money Market Account Rates and Terms
Rates Amount
APY (Annualized Percentage Yield) 1.55% - 1.60%

What are the Discover Bank Money Market Account fees?

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

Discover Bank Money Market Account Fees
Fees Amount
Monthly Fee $0
Paper Statement Fee $0
Excess Transaction Fee $0

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

Minimum initial deposit of $2,500. You must make an initial deposit of at least $2,500 to open this account.

What features and perks does Discover Bank Money Market Account offer?

This account includes the following features:

  • Fraud monitoring - Discover Bank monitors transactions for potentially fraudulent activity.
  • Mobile Banking Services - Discover Bank Money Market Account allows you to manage your money online. This includes depositing checks in your account with your smartphone.
  • Nationwide ATM network - Discover Bank Money Market Account allows you to access your money from an ATM, a convenient feature only a few offer.

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.
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Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 6:00pm
  • Tuesday 9:00am - 6:00pm
  • Wednesday 9:00am - 6:00pm
  • Thursday 9:00am - 6:00pm
  • Friday 9:00am - 6:00pm
  • Saturday 8:30am - 1:00pm

Other Services by Discover Bank

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Initial Deposit $2,500
Monthly Fee $0
NSF Fee $0
Paper Statement Fee $0
Bank Account Features
  • Bauer Financial A+/A Rating
  • Debit Card
  • Debit Card Lock/Unlock
  • FDIC Member
  • Fraud Monitoring
  • Free Bill Pay
  • Interest Bearing Account
  • Mobile Banking
  • Mobile Check Deposit
  • Nationwide ATM Network
  • No ATM Fees
  • No Monthly Maintenance Fee
  • Online-Only Account
APY (Annual Percentage Yield) 1.55% - 1.60%
Dividend Compounding Frequency Daily
Dividend Payout Frequency Monthly

Discover Bank Money Market Account Community Reviews

 

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