Discover Bank Online Savings Account Review
Discover Bank Online Savings Account is offered by Discover Bank,
founded in 1985 and based in Greenwood, DE.
Discover Bank Online Savings Account is offered in
50 states (and Washington, DC).
Are savings accounts from Discover Bank federally insured?
Yes, your Discover Bank savings 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 APY does Discover Bank offer?
Discover Bank Online Savings Account offers an APY of 2.10% (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 features and perks does Discover Bank Online Savings Account offer?
This account includes the following features:
Discover Bank Online Savings Account Features
|Bank Account Features
- Automatic Savings
- Bauer Financial A+/A Rating
- Branch Access
- Fraud Monitoring
- Free Bill Pay
- Interest Bearing Account
- Mobile Banking
- Mobile Check Deposit
- Nationwide ATM Network
- No ATM Fees
- No Monthly Maintenance Fee
- Automatic savings - Set up an automatic transfer from your checking account to a savings account and you'll never have to second-guess your saving decisions again.
- Fraud monitoring - Discover Bank Online Savings Account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
- Free Bill Pay - Bill Pay allows you to receive ebills directly to your account and pay them easily from your account.
- Nationwide ATM network - Withdraw money and check your balance from wherever you are.
What fees does Discover Bank Online Savings Account charge?
Discover Bank Online Savings Account does not charge a monthly maintenance fee. See the fee breakdown section below to view all fees.
- Outgoing domestic bank transfers come with a $30 fee.
- Outoing international bank transfers come with a $30 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
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