Discover® Bank Online Savings Account is no longer available to new customers on SuperMoney. Click here to compare and quickly find the best options for your needs.
Last Updated: 12/05/2025
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Discover® Bank Online Savings Account
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in Savings Accounts from Discover® Bank
Last Updated: 12/05/2025
SuperMoney User Recommendation Score +67
Strongly recommended21 total votes
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Highlights
Community Rating
Strongly recommended
APY (Annual Percentage Yield)
3.40%(Verified 10/01/2025)
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Minimum Opening Deposit
$0
Minimum Balance to Earn APY
$0
Number of Reviews
Discover® Bank Online Savings Account Review
Discover® Bank Online Savings Account is no longer available to new customers on SuperMoney. Click here to compare and quickly find the best options for your needs. |
Discover® Bank Online Savings Account is offered by Discover® Bank, a bank founded in 1985 and based in Riverwoods, IL. Discover® Savings are available in 50 states and Washington, DC.
Key Takeaways
- High yield savings. This account offers an annual percentage yield of up to 3.40%*, which is much higher than the average interest rate for a savings account.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- No minimum initial deposit. There is no minimum balance required to open an account online.
Discover® Savings Pros & Cons
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Discover® Savings FAQ
Are savings accounts from Discover® federally insured?
Yes, your deposits are insured 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.
Does Discover® Bank offer a signup bonus?
Discover® Savings doesn't offer a signup bonus.
What is the minimum initial deposit for Discover® Savings?
There is no minimum deposit to open a Discover® Savings.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Combined Balance to Avoid Monthly Maintenance Fee | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Required Balance | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Account Transfer to Avoid Monthly Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY* does Discover® Bank Online Savings Account offer?
Discover® Savings offers an APY of 3.40% (APY stands for annual percentage yield, rates may change). This is much higher than the average savings account rate.
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually. Annual Percentage Yield (APY). Advertised Online Savings Account APY is accurate as of 9/30/2025. Applies to personal accounts only. APY may change before or after the account is opened. No minimum deposit to open.
What fees does Discover® Savings charge?
Discover® Savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.
- Outgoing domestic bank transfers come with a $30 fee.
- Outgoing 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.
What features and perks does Discover® Savings offer?
This savings account includes the following features:
- Fraud monitoring - Discover® Savings 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.
- Mobile Banking Services - Discover® Savings allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
Can you set up a direct deposit to Discover® Savings?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
What is the customer support email for Discover® Savings?
The customer support email for Discover® Savings is service@email.discover.com.
How do people rate the customer service and user experience of Discover® Savings?
Overall, Discover® Savings is strongly recommended based on community reviews that rate customer service and user experience.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Message from Discover® Savings
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