discover com savings account

PNC Bank offers a wide range of personal banking services including checking and savings accounts, credit cards, mortgage loans, auto loans and much more. Luckily internet banks offer much better rates. Internet Bank Rates. At the time that I was first looking at online banking options, savings. Another added benefit of opening a savings account with Discover Banking is there are no fees associated with online savings accounts. There is also no minimum.

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How Does Savings Account Interest Work?

Bonus Offer

Offer is valid on new accounts only. To qualify, company must spend $3,000 within the first three months of account opening to receive the bonus. 10,000 bonus points will be credited within 60 days of qualification under the description: Commercial Spend Bonus.

Earning Points

Base Rewards Tier: Earns (i) one (1) point for each dollar you spend for net retail purchases (gross retail purchases less any returns or credits), (ii) three (3) points for each dollar you spend for net retail purchases in the follow rewards category: gas stations (2 additional points on top of the 1 point per dollar earned on net retail purchases), (iii) two (2) points for each dollar you spend for net retail purchases in the following rewards categories: restaurants and travel (airlines, auto rental, and lodging) (1 additional point on top of the 1 point per dollar earned on net retail purchases).

Rewards Categories: Merchants who accept Visa credit cards are assigned a merchant code, which is determined by the merchant or its processor in accordance with Visa procedures based on the kinds of products and services they primarily sell. We group similar merchant codes into categories for purposes of making reward offers to you. We make every effort to include all relevant merchant codes in our rewards categories. However, even though a merchant or some of the items that it sells may appear to fit within a rewards category, the merchant may not have a merchant code in that category. When this occurs, purchases with that merchant won't qualify for rewards offers on purchases in that category.

Businesses may earn up to 10,000 points per calendar month, excluding bonus points. Points earned are available for redemption for a 3 year term. Points expiring during the year will be cleared from the Program Account on the last day of the month in which they expire.

Rewards Redemption

Businesses in the Base Rewards Tier may redeem points for (i) cash back to a First Citizens checking or savings account or credit card statement credits, (ii) credit towards a First Citizens personal loan or mortgage principal, (iii) Pay Me Back statement credits, (iv) travel rewards, including airline tickets, hotel, car rentals, cruises and tours, (v) retail gift cards and certificates and (vi) merchandise and (vii) donations.

These Terms are only a summary. Other restrictions and requirements apply. The full First Citizens Rewards® Program Rules will be provided upon enrollment and are accessible via the program website at FirstCitizensRewards.com at log in.

Program Rules are subject to change or cancellation without notice.

Источник: https://www.firstcitizens.com/

Update 10/23/21: Deal is showing again.

10/19/21: Cumulative deposits seem to still be working, as always still a risk.

Update 9/24/21: Hello old friend…this deal is finally back again. Unknown if cumulative deposits will still work or not. Hat tip to reader Gadget & Dev

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: Nationwide
  • Direct deposit required: None
  • Additional requirements: Deposit $15,000 for $150 bonus, or $25,000 for $200 bonus
  • APY:  0.40%
  • Initial Deposit: None
  • Hard/soft pull: Soft
  • ChexSystems: No for Online Savings
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: None mentioned
  • Expiration date: Open by 12/15/21
  • Insured: FDIC

Contents

The Offer

Direct link to offer

 

The Fine Print

  • Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded or affinity accounts provided by Discover (this bit is new)
  • Account must be open when bonus is credited.
  • Bonus will be credited to discover com savings account account by 11/4/19.
  • Bonus is considered interest and will be reported on IRS Form 1099-INT.
  • Offer may be modified/withdrawn.

Avoiding Fees

Discover’s Online Savings Account does not have any fees, nor any minimum balance requirement. You can withdraw any funds you wish after fulfilling the $25,000 (or $15,000) deposit requirement.

Early Termination Fee

There is no mention of an early termination fee according to the Online Savings Account Guide. You must, at minimum, leave the account open until the bonus posts, or November 30, 2017.

Our Verdict

The deposit requirement increasing to $25,000 shouldn’t matter too much as it looks like cumulative deposits work anyway. The best part of this deal is that there is no deposit minimum length so you should be able to deposit the (or $15,000) and then immediately withdraw it. In the past the bonus has posted 5–15 days after the deposited has been received but recently it has been taking much longer. A lot of people like these Discover bonuses because they also offer a decent APY (0.40% currently), although there are better APYs available. This is one of the best savings account bonuses currently available.

Useful posts regarding bank bonuses:

Deal History

Quick note: The bonus usually isn’t extended as such, but a new deal with a new promotion code comes along and we just use the verbiage ‘extended’. Obviously no guarantee they will continue to do so.

  • Update 4/7/20: Extended until 5/11/20.
  • Update 3/2/20: Deal has been extended until 4/6/20 (hat tip to reader Pat)
  • Update 2/4/2020: Deal has been extended until 3/2/20
  • Update 1/7/20: Deal has been extended until 2/3/20.
  • Update 12/3/19: Deal has been extended until 1/20/20
  • Update 11/6/19: Deal has been extended until 12/2/19
  • Update 10/8/19: Deal has been extended until 11/4/19.
  • Update 9/10/19: Deal extended until 10/7/19
  • Update 8/6/19: Deal extended until 9/9/19
  • Update 7/2/19: Deal extended until 8/5/19
  • Update 6/5/19: Deal has been extended until July 1st, 2019. I’ve updated the promo code and expiration dates below.
  • Update 6/5/19: Deal has been extended until July 1st, 2019. Updated the promo code.
  • Update 4/2/19: Deal has been extended until June 5th, 2019.
  • Update 3/5/19: New code and now valid until April 1st, 2019.
  • Update 2/5/19: New code and valid until 3/4/19 now.
  • Update 1/16/19: Yesterday there was a small issue with the promo code, that has now been resolved.Update 01/15/2019: There is a new working link and code. This time good for applications through February 4th, 2019.
  • Update 12/04/2018: There is a new working link and code. This time good for applications through January 14th, 2019.
  • Update 11/03/2018: There is a new working link and code. This time good for applications through December 3rd, 2018.
  • Update 10/09/18: There is a new working link and code. This time good for applications through October 31st, 2018.
  • Update 09/10/2018: There is a new working link. This one is definitely not an affiliate link of any type.
  • Update 07/20: There is a new working link that doesn’t look like it’s a NerdWallet link, but might be an affiliate link for hennessy and jose cuervo margarita mix recipe site.
  • Update 07/12/18: There is a new working link that is valid until 7/31/2018. This is another NerdWallet link and they will get comission if you use it. I personally don’t like NerdWallet as they are affiliate link focused and don’t always post the best deals. That being said I want my readers to have the best choice possible so that’s why I’m adding it. If anybody finds a non NerdWallet link walmart food delivery service us know. You might also just be able to use promo code SAVE718E1 or SAVE718E2 and it should work. We don’t receive anything if you use the NerdWallet link or any other bank account bonus or credit card link as we believe remaining independent is important.
  • Update 06/05/18: Bonus has been extended until 6/29/18
  • Update 05/18/18: Gadget & rediff found a new working code: SAVE518E1. This means NerdWallet won’t get paid when you use this code. This link should also work, but not sure if it’s one time use or not.
  • Update 05/09/18: Deal is back and valid until 6/4/18. New promo code is NW518. Sadly I think this is an exclusive offer to NerdWallet and they get paid if you use this link. Personally I hate NerdWallet because I find they suggest inferior offers on a regular basis but this Discover Savings bonus is a great deal. I’ve tried to get Discover to agree to give money to charity instead of paying out affiliate commissions but they never respond.
  • Update 03/27/18 : Deal has been extended until 05/04/2018. New promo code is SAVE318D2. Hat tip to reader Gadget.
  • The Discover savings bonus has been extended again until April 2nd, 2018.
  • Offer has been extended again. You must now open it by 02/28/18 and deposit by 03/14/18
  • Originally posted on September 19th, 2017. Reposting on November 2nd, 2017 because the offer has been extended. The $200 offer now requires a deposit of $25,000 instead of $20,000. Bonuses for AAA & AAII have not been extended yet.
Источник: https://www.doctorofcredit.com/discover-savings-150200-bonus-1500020000-deposit-new-exp-103117/

Discover Financial

American financial services company

Discover Financial Services is an American financial services company that owns and operates Discover Bank, which offers checking and savings accounts, personal loans, home equity loans, student loans and credit cards. It also owns and operates the Discover and Pulsenetworks, and owns Diners Club International. Discover Card is the third largest credit card brand in the United States, when measured by cards in force, with nearly 50 million cardholders. Discover is currently headquartered in the Chicago suburb of Riverwoods, Illinois.[2]

History[edit]

In 1981, Sears purchased the Dean Witter Reynolds brokerage firm organization and Coldwell, Banker & Company (real estate franchise)[3] as an attempt to add financial services to its portfolio of customer services. In 1985, Sears also acquired the Greenwood Trust Company. Altogether, these companies operated as a Sears subsidiary called Dean Witter Financial Services Group, Inc. The plan to create a one-stop financial-services center in Sears stores was not as successful as Sears had hoped. Its credit card operations accounted for a loss of $22 million in the fourth quarter of 1986, and a loss of $25.8 million in the first quarter of 1987.[4]

On March 1, 1993, Sears sold off its financial services branch as a new independent publicly traded company called Dean Witter, Discover & Co. with Dean Witter Reynolds in charge. This company had a stock ticker symbol of DWD.

In 1995, Discover Card Services, Inc. changed its name to NOVUS Services, Inc. to distinguish its network functions from the Discover Card.

In 1997, this company merged with investment banking house Morgan Stanley to become Morgan Stanley Dean Witter, Discover & Co.

Discover and Novus retired acceptance mark (still seen in many places)

On February 1, 1999, the company rebranded wilson county bank and trust smithville tn as Discover Financial Services, Inc.[5] The NOVUS logo was retired, replaced by the Discover Network logo.

In April 2005, Morgan Stanley announced that it would divest Discover Financial Services as an independent company within six months. By June, industry sources reported that Morgan Stanley was reassessing its plan to spin off Discover. In August, the company confirmed it would not sell Discover. However, on December 19, 2006 during a fourth quarter earnings report, Morgan Stanley CEO John J. Mack announced Discover would be spun off as a standalone publicly traded company by the end of August 2007, stating that both companies will be better positioned for growth and success as separate entities.[6] Ahead of schedule on June 30, 2007, Discover was spun off as an independent, publicly traded company.[7] It began trading on the NYSE for the first time on July 2 as DFS.

Acquisition of The Greenwood Trust Company[edit]

The Greenwood Trust Company was founded on August 30, 1911 and was based in Greenwood, Delaware. It was acquired in 1985 and renamed Discover Bank on August 1, 2000.[8] Discover Bank is mainly an online financial institution that offers many financial services such as checking accounts, savings accounts, and money market accounts. However the first and original location of the Greenwood Trust Company on 502 East Market Street is still operating and is the only physical banking location of Discover Bank. Discover Bank operates as a subsidiary of Discover Financial Services and is FDIC insured.[9]

Acquisition of Pulse[edit]

In 2005, Discover Financial Services acquired Pulse, an interbank electronic funds transfer payments network. This allowed Pulse and its more than 4,000 member banks, credit unions, and savings institutions to join with the Discover Network's 4 million merchant and cash access locations. Additionally DFS now had the ability to market and issue debit and ATM cards. On February 13, 2006, DFS announced that it would begin offering Discover debit cards to other financial institutions, becoming the first credit card services company to compete directly with MasterCard and Visa in the rapidly growing signature debit market.[10]

Acquisition of Diners Club International[edit]

In April 2008, Discover Financial and Citigroup announced that Discover was purchasing the Diners Club International network from Citigroup for $165 million. In May 2008, the Federal Trade Commission approved the transaction and it was finalized on July 1, 2008.[11] Discover stated that the Diners Club network, which is a major network outside the United States, will be merged with the Discover Network, a major network in the United States. The creation of an international network for Discover and Diners Club cardholders allowed customers to expand their global reach. Diners Club cards will continue to be issued by Diners Club International licensees. At this time, Discover Bank has no plans on issuing Diners Club branded cards itself.

Acquisition of Student Loan Corporation[edit]

On September 17, 2010, Discover Financial Services announced it would acquire Citigroup-owned Student Loan Corporation for $30/share.[12] The deal was finalized on December 31, renamed Discover Student Loans, and expanded DFS's market presence and origination capabilities in private student loans.[13] In 2014, DFS launched Rewards for Good Grades, rewarding college and graduate students who get at least a 3.0 GPA (or equivalent) a one-time cash reward equal to 1% of the loan amount on each new Discover student loan. In 2015, DFS introduced an interactive tool called FAFSA assistant to help students and their families get ready to complete the FAFSA. The tool provides individualized tips and guidance based on personal situations.

Acquisition of Home Loan Center[edit]

On June 6, 2012, Tree.com, Inc. completed the sale of substantially all of the operating assets of its Home Loan Center, Inc. business to a wholly owned subsidiary of Discover Financial. In exchange for the assets sold, Discover paid an aggregate of $45.9 million including payments made prior to the closing which were applied to the closing price.[14] On June 12, 2012, Discover began originating mortgages with its launch of Discover Home Loans, offering prime variable- and www state bank of cross plains conventional and FHA home mortgage loans. The Home Loans business was later sold in 2015.

Business developments[edit]

In 1989, Discover Network signs its 1 millionth merchant, a restaurant called Vincente's Restaurant in Wilminton, Delaware.[15]

In 1995, DiscoverCard.com was launched where consumers could apply for credit cards, pay bills, redeem rewards, receive email reminders, and earn extra rewards through online retail partners.

On December 22, 1998, the company introduced Discover Platinum, a premium card featuring new ways to increase rewards, low balance transfer and annual percentage rates, no annual fee, and expanded credit lines.

On December 21, 2001, fourth-quarter bank of america fraud department phone number debit card at Discover grew 31% to $193 million, compared with $147 million the year before.[16]

In 2002, Discover launched the industry's first keychain credit card. It was named the Discover 2GO Card and was recognized as one of the "Best Products of 2002" by editors and reporters from Business Week and USA Today.

On March 5, 2002, the company announced that the Account Center at Discovercard.com had registered over eight million card members, an increase of 61% since January 2001.[17]

On September 1, 2002, Discover announced that Citibank would accept the Discover® Card for cash advances at its approximately 450 Financial Centers and more than 2,000 ATM locations nationwide.[18]

In 2003, Discover introduced gas and miles rewards cards. The Gasoline Card (renamed Open Road in 2007) awarded 5% Cashback Bonus on gas purchases. The Miles Card by Discover card allowed redemption with as little as 2,500 miles for non-flight reward options. Discover also introduced the option for paperless statements to minimize the impact on the environment and reduce clutter for customers.

In October 2004, the Supreme Court upheld a ruling in Discover's favor that challenged exclusionary policies of Visa and MasterCard, stating that Mastercard and Visa were violating antitrust regulations with anticompetitive practices. Before this ruling, Visa and MasterCard would not allow banks to issue a Discover or American Express card if they issued a Visa or MasterCard. Within days of the court ruling, Discover filed a lawsuit in federal court seeking damages from Visa and MasterCard. In October 2008, DFS was awarded $2.75 billion in damages, the third largest settlement at the time in U.S. history. Shortly after the Supreme Court ruling, Discover struck its first deal to have its cards issued by another financial institution, GE Consumer Finance, which began to issue credit cards for retailer Walmart and its wholesale warehouse stores, Sam's Club.[19] Transactions were processed on the Discover Network. Sam's Club exclusively accepted Discover for many years; since November 2006, it has also accepted MasterCard for purchases. In April 2014, Walmart announced that they were ending their relationship with Discover and would begin converting all Discover-branded cards to Mastercard beginning in June 2014.[20]

HSBC has issued Discover-branded credit cards processed through the Discover Network since its acquisition of card issuer Metris in late 2005. Metris had originally signed an agreement with Discover in September 2005, three months prior to the HSBC acquisition.

In 2006, Discover Network united with Visa, MasterCard, American Express, and JCB to form the Payment Card Industry (PCI) Security Standards Council, which helps to manage the ongoing payment account security throughout the transaction process. In this same year, DFS also launched the Discover Business Card, offering a single payment solution for small business owners. On July 14, 2006, DFS and First Data Corp., a global leader in electronic commerce and payment services, announced that First Data would offer Discover Network card services to small- and mid-sized merchants.

On March 13, 2007, Discover Financial Services announced the Discover Motiva card, the credit card that gives cardmembers cash rewards for making six on-time monthly payments in a row. This card was the industry's first credit card to give cash rewards for good credit management. Later in the year, DFS announced the Discover More card to replace the Discover Platinum card. The Discover More card was designed for consumers who use credit in many different categories and provided them with more ways to earn cash back on their purchases.

Following the 2007-08 financial crisis, Discover received about $1.2 billion in bailout funds under the Troubled Asset Relief Program (TARP). The company announced in 2010 that it had received approval to pay back the funds.[21]

In 2009, Discover Financial Services introduced the Spend Analyzer tool, an innovative easy-to-use online tool that provides cardmembers with a visual representation of their Discover card purchases for the past 24 months.

In 2010, Discover Financial Services and Softcard announced a strategic partnership to build a mobile payment network that utilizes mobile phones to make point-of-sale purchases.

In September 2012, Discover Financial Services was ordered to pay over $200 million in fines and discover com savings account reimbursements to settle accusations by U.S. federal regulators that it had engaged in deceptive telemarketing tactics.[22]

In 2012, Discover Financial Services announced a five year, $10 million commitment called Pathway to Financial Success to help bring financial education curriculum to public high schools across the U.S.

In 2013, Discover Financial Services and PayPal partnered to enable millions of participating merchants to accept PayPal easily through their existing relationship with Discover. In the same year, Discover Cashback Checking was introduced. This checking account product paid customers 10 cents for every debit card purchase, online bill payment, and check written. Additionally in this same year, the Discover it card was announced. The card rewards cardmembers with 5% cash back in rotating categories each quarter like gas and restaurants. Discover also introduced Discover Home Equity Loans, offering homeowners the opportunity to simplify their finances inclusive of supporting home improvement projects, paying for major expenses, or consolidating debt into a single, fixed monthly payment. Discover also became the first major credit card issuer to provide free access to FICO Credit Scores based on TransUnion data directly to its cardmembers on their monthly statements. Additional information provided with their FICO Credit Scores were educational content to help them better understand their scores.

In 2014, Discover Financial Services launched Discover it Chrome for Students, allowing students to establish credit while earning 2% at gas stations and restaurants.

In 2015, Discover Financial Services launched Discover it Miles, which rewards 1.5 miles per dollar spent.

In 2016, Discover Financial Services launched Discover it Secured discover com savings account consumers looking to build their credit. Additionally, DFS expanded FICO Credit Scores based on Experian data for free to everyone via a platform called Credit Scorecard, which also included a summary of the data that helps determine an individual's FICO Credit Score.

In 2017, Discover Financial Services launched a free service called Discover Identity Alerts to notify cardmembers if their social security numbers are found on risky websites and if any new accounts are opened on their Experian credit report. All of these services are offered at no cost and do not impact credit scores.

In 2018, Discover Financial Services announced a change to its checking account rewards program, a new industry-leading reward of 1% cash back on up to $3,000 in qualifying debit card purchases each month. Additionally DFS also introduced First Fee Forgiveness, a new program that automatically waives the first eligible fee each calendar year for certain Discover accounts. Eligible fees included in the program were inclusive of insufficient funds, stop payment, excessive withdrawal and Money Market minimum balance fees. For its U.S.-based employees, DFS launched the Discover College Commitment, which discover com savings account employees a full ride bachelor's degree program covering tuition, required fees, books, and supplies to select online degrees. On September 12, DFS launched the Discover it Business credit card, offering unlimited 1.5% cash back on all purchases, as well as free business and security features.

In 2019, Discover Financial Services' subsidiary Discover Bank eliminated most fees on all of its deposit products. Additionally, Discover Home Equity Loans surpassed $1 billion in funded loans, helping over 20,000 homeowners with their financial goals. DFS also launched contactless cards this year.[23]

Advertising[edit]

From 1998 to 2007, Discover Card owned a billboard at One Times Square, just above the flagpole where the Times Square Ball is placed, until Toshiba bought the space. As a result, its logo could be seen on national television during New Year's Eve, while the ball dropped. Discover also sponsored the ball drop itself.[24][25]

From its opening in 2001 to 2012, Sugarloaf Mills Mall in Lawrenceville, Georgia was named Discover Mills in a naming rights partnership with Discover Card. The slogan for the mall was "Where Discover Card is the Smart Choice." It was the first shopping mall to have granted naming rights to interested companies.[26][27]

Since 2008, Discover has been the official credit-card partner of the National Hockey League. As part of this deal, Discover offers team- and league-branded credit cards as well as a 10% discount on purchases made from the NHL's online store using Discover.

In 2011 and 2012, Discover participated and won the Grand Marshal award for excellence in creative concept and design in the Tournament of Roses Parade in Pasadena.

From 2011 to 2013, Discover was the sponsor of the college football Orange Bowl.

In 2013, Discover was the sponsor of the BCS National Championship.

In 2017, Discover was named the first ever presenting sponsor and official credit card of the Big Ten Football Conference and Championship Game as part of a multi-year sponsorship.[28]

Business[edit]

In addition to its card products, Discover Financial Services also markets savings products, checking accounts, personal loans, student loans, identity protection, and home equity loans.[29]

Competitors[edit]

In the United States, Discover, as a card network, competes primarily with Visa, MasterCard, and American Express.[30] Unlike Visa and MasterCard, Discover directly issues its cards as both the card network and associated bank, through its Discover Bank unit.[31] When measured by card balances, Discover is the sixth largest credit card issuer in the U.S. behind JPMorgan Chase, Citigroup, Bank of America, Capital One and American Express, and ahead of Wells Fargo and U.S. Bank.[32]

References[edit]

  1. ^ abcdef"Annual Report 2020 (SEC Form 10-K)"(PDF). U.S. Securities and Exchange Commission. Retrieved May 21, 2021.
  2. ^"Discover Financial Services - Company Profile and News". Bloomberg News. Retrieved July 2, 2020.
  3. ^"A Brief Chronology of Sears History". Sears Brands, LLC. Retrieved August 12, 2009.
  4. ^Barmash, Isadore. "Sears Net Rises 47.4% in Quarter", The New York Times, April 22, 1987.
  5. ^Kagan, Julia. [1]. Investopedia.com, June 27, 2018.
  6. ^[2]. June 1, 2007.
  7. ^“Discover flying solo”. The Green Sheet, July 9, 2007. Retrieved 2016-12-05.
  8. ^"Greenwood Trust Company Renamed Discover Bank" (Press release). Discover Financial Services. August 1, 2000. Archived from the original on January 21, 2014.
  9. ^"Discover Bank Locations".
  10. ^"Merger of Discover Financial Services and Pulse EFT Association closes following Pulse member approval" (Press release). Discover Financial Services. January 12, 2005. Archived from the original on December 8, 2012. Retrieved October 22, 2007.
  11. ^Miller, James P. (July 1, 2008). "Discover completes purchase of Diners Club". Chicago Tribune. Archived from the original on July 6, 2008. Retrieved July 1, 2008.
  12. ^"Discover Financial buying Citigroup's Student Loan Corp". Crain's Chicago Business. September 17, 2010. Retrieved December 19, 2014.
  13. ^"Discover Completes Acquisition of the Student Loan Corporation" (Press release). Discover Financial Services. January 11, 2011. Retrieved December 19, 2014 – via Business Wire.
  14. ^"Tree.com Completes Sale of Certain Assets of Home Loan Center, Inc. to Discover" (Press release). Tree.com. June 7, 2012. Archived from the original on May 22, 2013. Retrieved July 14, 2012.
  15. ^Harkness, Brendan. [3]. CreditCardInsider.com, April 7, 2020.
  16. ^"Discover's Fourth Quarter Net Income Grows 31%".
  17. ^"Discover Card Account Center Launches Online Sweepstakes; Click, Pay and Win With SmartCheck on Discovercard.com" (Press release). Discover Financial. Archived from the original on March 31, 2012. Retrieved June 18, 2013.
  18. ^"Discover Card Now Accepted for Cash Advances At Citibank; Discover Card Is Now Accepted At All U.S. Citibank Financial Centers and ATMs" (Press release). Discover Financial. Archived from the original on March 31, 2012. Retrieved June 18, 2013.
  19. ^Kingson, Jennifer A. "Credit Card Issuers Adjust to Open Field", The New York Times, March 26, 2005.
  20. ^Lee Enterprises. "Wal-Mart taps MasterCard for store-branded credit card". stltoday.com.
  21. ^"Discover Lifts The TARP". Forbes. March 17, 2010. Retrieved February 28, 2018.
  22. ^"Federal Deposit Insurance Corporation and Consumer Financial Protection Bureau Order Discover to Pay $200 Million Consumer Refund for Deceptive Marketing". Consumer Financial Protection Bureau.
  23. ^"Discover - Our Company | Discover Card".
  24. ^Metro Business; Discover Is Sponsor For Year 2000 Event
  25. ^Back in Times Square, Toshiba Stands Tall
  26. ^"The Mills Corporation Announces the Grand Opening of Discover Mills". PR Newswire. Retrieved March 9, 2016.
  27. ^Sawicki, Beth (September 21, 2012). "Discover Mills renamed Sugarloaf Mills". Gannett. 11 Alive News. Archived from the original on January 16, 2013. Retrieved March 9, 2016.
  28. ^"Discover - Our Company | Discover Card".
  29. ^"Discover - Our Company | Discover Card".
  30. ^Holmes, Tamara P. "Credit card market share statistics". CreditCards.com, June 22, 2016. Retrieved 2016-11-28.
  31. ^Kiernan, John S. "List of Credit Card Companies & Networks: Differences, Contact Info & More". WalletHub, March 31, 2016. Retrieved 2016-11-28.
  32. ^"Q1 2016: U.S. Credit Card Issuer Snapshot". Retrieved November 28, 2016.

External links[edit]

Источник: https://en.wikipedia.org/wiki/Discover_Financial

Bank On certifies the Cashback Debit account from Discover because of its no fees and online capabilities

Cashback Debit, the online checking account from Discover, was recently certified by the national nonprofit organization, Cities for Financial Empowerment (CFE) Fund. The CFE Fund’s mission is to improve the financial stability of low and moderate income households by embedding financial empowerment strategies into local governments. The CFE Fund developed the Bank On National Account Standards, which support financial institutions’ efforts to connect consumers to secure and low-cost bank accounts. Discover is the first digital bank to meet the Bank On’s certification standards with the no fee1 Cashback Debit account.

"Financial inclusion is more critical than ever—especially during the COVID-19 pandemic when quick and reliable access to funds like stimulus checks is essential," said Carlos Minetti, president of consumer banking at Discover. "Bank On’s certification standards identify safe and affordable financial products, which help consumers avoid expensive alternative financial services and put them on a path to increased savings and financial empowerment. The Cashback Debit account from Discover has no fees and lets customers earn cash back on eligible debit card purchases, ensuring customers can keep more of what they earn and save."

The Bank On certification standards developed by the CFE Fund outline critical product features for bank accounts appropriate for those currently outside of the mainstream banking system. Product features include low costs, no overdraft fees, and robust transaction capabilities such as a debit card and online bill pay.

The Cashback Debit checking account meets Bank On’s certification standards based on its no-fee structure, including access to over 60,000 no-fee ATMs across the country2, and convenient tools to help consumers deposit checks and pay bills online. It also rewards customers with 1% cash back on up to $3,000 in eligible debit card purchases each month. Discover offers customers the option to automatically deposit their debit card Cashback Bonus into an eligible Discover Online Savings account each month, allowing them to grow their savings with interest. As a digital bank, customers can access their account whenever and wherever they are while knowing they always have 24/7 access to U.S.-based customer service.

About Discover

Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover discover com savings account, America's cash rewards pioneer, and offers private woodforest bank account loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. For more information, visit www.discover.com/company.

1 Outgoing wire transfers are subject to a service charge. Customers may be charged a fee by a non-Discover ATM if it is not part of the 60,000+ ATMs in our no-fee network.

2 Some ATMs have limited hours and/or restricted access. Customers may be charged a fee by the ATM owner if they use an ATM that is not part of our no-fee network.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210217005163/en/

Contacts

Media Contact
Sheetal Shah
224-405-0297
[email protected]
@Discover_News

Источник: https://www.yahoo.com/now/discover-recognized-first-digital-bank-130000387.html

Discover Bank Discover com savings account – Online Banking Rates, Savings/CD Rates, and Locations


This “Discover Bank reviews” article is a follow-up to AdvisoryHQ News’ comparison ranking of the top online banking firms with the best CDs and savings rates.

Based on the high interest yield offered on Discover Bank’s high yield savings account, combined with the bank’s high yield CDs (3 months–10 years) and money market accounts, Discover Bank was selected as one of this year’s best online banking firms.

In this Discover Bank review article, we present a more detailed overview of the bank and also answer frequently asked questions about Discover Bank CDs, Discover Bank high interest savings accounts, and Discover Bank locations. Discover Bank provides a wide range of online banking accounts and products to meet most (if not all) of your banking needs.

Discover Bank ReviewsImage Source: Discover

Are you looking for a Discover Bank location? If so, click here: Discover Bank Locations and Address.



Discover Bank Reviews – Intro

As a banking institution, Discover Bank offers services and products that are similar to those provided by most brick-and-mortar banks like Bank of America, Citi, Bank of the West, and Wells Fargo.

However, as an online banking firm, Discover Bank does not operate a lot of physical bank locations and relies heavily on online banking tools. Based on these factors, the bank is able to pass along “overhead cost savings” in the form of additional savings and high yields to its depositors.

How Safe Is Discover Bank?

Questions that are frequently asked by potential new customers include “Is Discover Bank safe?” and “Is the bank FDIC-insured?” Yes, Discover Bank is FDIC-insured. What this means is that your funds are FDIC-insured up to the maximum allowed by law (FDIC deposit insurance is $250,000 per depositor).

In addition, Discover has a “$0 Liability Protection,” which means that you will never be responsible for any unauthorized use of your Discover bank debit card nor would you be responsible for any fraudulent online/mobile banking transaction that is made on your account.

Overall, Discover Bank is safe (relative to other online banks) in that it provides the below free protection and insurance services:

  • Free Proactive Fraud Monitoring service
  • $0 Liability Protection service
  • Free Bill Pay Protection services
  • Military grade encryption protocol
  • Enhanced online protections__

Discover Bank Locations

For general correspondence, below are the three Discover Bank address locations for sending your mail. Also see “Discover Bank Locations – 60,000+ Free ATMs.”

Discover Bank Locations for General Correspondence:

Checking & Savings Accounts – Discover Bank address location:

  • Discover Bank
  • PO Box 30416
  • Salt Lake City, UT 84130

New Accounts & Deposits – Discover Bank address location:

  • Discover Bank
  • PO Box 30417
  • Salt Lake City, UT 84130

Discover Bank Address Location for all IRA/retirement account-related correspondence:

  • Discover Bank
  • PO Box 30418
  • Salt Lake City, UT 84130

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Discover Bank Savings Account Review

Opening a Discover savings account can be done online or by calling the firm’s toll-free number. You’ll need at least $500 to open your account. As with most savings accounts, you are allowed 6 withdrawals a month. 

Discover Bank’s saving account has no monthly maintenance fees. In addition, there are no monthly balance requirements.

You can deposit checks using the bank’s mobile app or transfer money between your accounts with ease.

Discover Bank Checking Account Review

Discover Bank’s checking account is what is known as a “cashback” account. With this account, you can earn 10 cents for each transaction (up to 100 transactions per month).

The 10 cents per transaction is applicable to debit card purchases, online bill payments, and check payments. In total, you can earn up to $120 in cashback income from your Discover checking account. Similarly to the bank’s savings account, there are no monthly balance requirements or monthly maintenance fees.

Best of all, you can open this account with as low as $25.

Discover Money Market Account Review

Discover Bank’s money market account is a high yielding interest paying account. A $2,500 deposit is required to open the account. In addition, a $2,500 monthly balance is required to avoid a monthly maintenance fee.

Click here to open a Discover Bank money market account: Discover Bank Money Market.

Discover Bank IRAs Reviews

Are you interested in a Discover Bank IRA? Similarly to its high yielding CD accounts, Discover also offers very high rates on its IRA accounts.

Discover Bank IRAs Reviews

Image Source: Discover__

Discover Bank Locations – 60,000+ Free ATMs

Being an online bank, Discover does not maintain physical branch locations, which allows it to keep its expenses down and offer these high yielding accounts.

As a customer of the bank, you are provided with easy access to your funds and deposits at over 60,000 free ATM Discover Bank locations. See below for how you can find one of these 60,000+ free ATM Discover Bank locations.

Finding a Discover Bank ATM Location

To find a Discover Bank location to withdraw funds, follow the instructions below:

1. Click here: https://www.discover.com/cash-atm-locator/

2. Enter your zip code.

3. Discover Bank ATM locations in your area will be represented by orange map pins.

discover bank locations and address

Image Source: Discover

Withdrawing Money from Your Discover Credit Card

What if you want to withdraw money from your Discover credit card account instead of your Discover checking or savings account? Are there any ATM fees?

No, there are no ATM fees if you take a cash advance with your Discover credit card at one of these locations.

However, Discover will charge you a cash advance APR (and possibly additional is almond milk as good for you as almonds for taking cash out of your credit card (this is not isolated to Discover. All credit card companies do this).


AdvisoryHQ (AHQ) Disclaimer:

Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.

Источник: https://www.advisoryhq.com/articles/discover-bank-reviews-online-banking-rates-cd-savings-bank-locations/

Table of Contents

This post may contain affiliate links. Which means we may earn a commission if you decide to make a purchase through our links. Please read our disclosure for more info.

All of us have heard about a Discover card being used as a from of payment, but did you know that Discover offers online money market and savings accounts, as well as CD’s and an IRA CD that is tax differed. Discover’s savings account is amongst the highest yielding simple savings accounts available to you and it’s a completely online account.

Savings Account:

Discover’s savings account has a yield of 1.35%APY with a minimum deposit of $500. They offer free online transfers from any other established account with any other bank that offers online services via online transfer. If you do not have an existing online account, you discover com savings account simply mail a check. There is no minimum balance on your Discover savings account, but beware that you only receive six free authorized transfers from your savings account before a fee will be assessed. These include automatic as well as telephone transfers. The 1.35%APY only applies to a balance of over $500, if your balance falls below this level you will not be assessed a fee, but your interest rate may be marginally lower. The interest rate is very attractive however because it’s roughly 5 times higher than the national average for savings accounts. Discover is also protected under the FDIC so your money will be insured up to $250,000. Beyond a fee for over six authorized transfers per statement cycle, Discover has no hidden fee’s attached to their savings account which makes online banking a simple non-frustrating process.

Discover Bank Current Rates

Discover Bank Offers Money Market

Discover’s online money market account can be treated in the same respects as a checking account. The money market account has an APY of 1.20% on any balance over $10,000. The money can be withdrawn from the money market account via any ATM with the PULSE or Discover logo. The same principles apply with their money market account as with the savings where you will only receive six free authorized transfers per statement cycle. You can withdraw money from your Discover money market account via Discover debit card which will be provided upon opening the account, or checks which you will also have the option to obtain upon opening your money market account. There is no limit to the amount of withdrawals made with your debit card or through check.

Also Offer Competitive CD’s

Discover offers a range of CD’s that are all FDIC insured ranging from 3 months to 10 years. The rates are highly competitive and you have the option to leave the interest in the account, or have it transferred to a separate account of your choosing. The CD’s also have no market risk so your principle is secure which makes it not subject to market fluctuations. Discover also offers an IRA CD which you will be able to roll over an existing 401k into the Discover IRA CD with no tax consequence. They offer an attractive 3.5% APY on their IRA CD.

Discover Customer Service:

Discover is a well known brand name so if you’re a skeptic of online accounts, Discover may be a good option for you. They multi family homes for sale in boston ma online customer support as well as 24 hour phone service at 1-800-347-7000. The web sit is easy to use and simple to navigate. Upon setting up your first account whether it be Savings or CD, you will not have to re-fill out the paper work for up to a total of five accounts. If you decided to make Discover your sole banking option, they will make the switch easy and with less paperwork.

Interested in checking out Discover Bank? Click here to check out their rates today.

Источник: https://consumerboomer.com/discover-bank-savings-account-review/

Before you go, be sure you know:

Bank when and where you want.

With U.S. Bank mobile and online banking, convenient control of your money is always within reach.

Right here, right now

Need to deposit a check? Send money to a friend? Pay your bills on time? Explore additional account solutions? Our secure digital banking tools make managing your money fast and easy. In the U.S. Bank Mobile App or online, it's all at your fingertips – right here, right now.

Move money in and out with ease.

Deposit checks anywhere, anytime.

With free mobile check deposit3 in the U.S. Bank Mobile App, depositing checks is as simple as point, click, done.

More about depositing checks 2016 lexus gs f horsepower

Master monthly bills.

Manage and pay bills in one place with one secure password. Taking control is easier than you think with U.S. Bank bill pay.

More about paying bills

Send, receive and request money.

Zelle® makes it easy to send,4 receive and request5 money with friends, family and others you trust – even eligible businesses.6

More about Zelle®

Monitor and manage cards and credit.

Manage credit and debit cards.

Securely activate and manage your cards with simple, do-it-yourself controls. It's fast, easy and secure – online or in the app.

More about card controls deposit cashiers check bank of america app

Keep tabs on your credit score.

View your credit score for free anytime through TransUnion's CreditView Dashboard.7 Plus, get helpful tips on building and maintaining great credit.

More about your free credit score

Let us show you how.

New to digital banking or just need a little help with a particular feature? We’ve got you covered. The U.S. Bank Digital Explorer is packed with simple, interactive tutorials to help you get more familiar with banking on your mobile phone or computer.

Visit U.S. Bank Digital Explorer

Helpful digital banking education from Financial IQ

Stay on budget with a mobile banking app.

Learn how a good mobile app can help you track your spending, watch your balances and manage your budget.

Learn more

3 awkward situations Zelle can help you avoid

Money matters can be uncomfortable – but with Zelle, you can settle up with grace.

Learn more

Pay bills online the right way.

Know your online options and choose the bill payment solution that works best for you.

does turbotax offer a prepaid card Learn more

Frequently asked questions

Yes. Our online banking security uses advanced encryption and monitoring technology to ensure your money stays safe and secure. And to keep your personal information confidential, we have strict policies and procedures in place. Only you have access to your accounts with your username and password. We strongly suggest you do not share your username, password, PIN or account number with anyone. We’ll never request this type of information via email.

Our Digital Security Guarantee is another way we protect you from fraud loss. Our mobile and online banking is so secure that we'll cover any losses due to unauthorized use of your account, provided you notify us in a timely fashion when you notice any suspicious activity.

For mobile and online account access, you’ll need to complete a one-time enrollment process. To get started, gather your U.S. Bank card or account number and PIN along with your Social Security Number. Discover com savings account you don’t have a PIN or need a new one, please contact 24-Hour Banking at 800-USBANKS (844-266-5789).

If you’re enrolling in mobile and online banking to access your business accounts, you’ll need an ATM or debit card. You can apply for these at a branch and use your PIN to log in to mobile or online banking. Next, create a unique username and password to log in securely in the future. Just follow the instructions on the enrollment page.

You can change your password anytime. Select My Profile under Customer Service in the main menu at usbank.com, then look for Password in the Login Preferences section.

In the U.S. Bank Mobile App, open the main menu and tap your name at the top of the list. This will bring you to the My profile screen, where you can change your password.

If you forget your username, password or the answers to your security questions, use the login assistance tool. You’ll also find links to help with username and password retrieval in the Log In section at usbank.com.

In the U.S. Bank Mobile App, tap Login help on the login screen.

Most account information is updated in real time as transactions are processed throughout the day. Mobile and online banking offers you the most current balance and transaction information available.

To set up account alerts, log in to usbank.com and select My Alerts under Customer Service in the main menu. Open the Account Alerts tab and choose Add alerts at the right side of the page. Then you can select the account alerts that will best help you manage your accounts.

To set up account alerts in the U.S. Bank Mobile App, open the main menu and tap Notifications. Then, select Account to begin choosing the alerts you want.

These alerts will notify you, via email or discover com savings account message,2 of important account activity such as:

  • Low or negative checking account balances
  • Deposits or withdrawals
  • Online statement availability
  • Payments that are posted or due

You can delete, modify or change your alerts at any time.

Yes. Your U.S. Bank checking, savings, money market and U.S. Bancorp Investments brokerage accounts are eligible to send and receive external transfers.1 For more information, visit our transfers page.

Currently, you can make external transfers only in online banking. This feature will be added to the U.S. Bank Mobile App soon.

Источник: https://www.usbank.com/online-mobile-banking.html

Discover com savings account -

Bonus Offer

Offer is valid on new accounts only. To qualify, company must spend $3,000 within the first three months of account opening to receive the bonus. 10,000 bonus points will be credited within 60 days of qualification under the description: Commercial Spend Bonus.

Earning Points

Base Rewards Tier: Earns (i) one (1) point for each dollar you spend for net retail purchases (gross retail purchases less any returns or credits), (ii) three (3) points for each dollar you spend for net retail purchases in the follow rewards category: gas stations (2 additional points on top of the 1 point per dollar earned on net retail purchases), (iii) two (2) points for each dollar you spend for net retail purchases in the following rewards categories: restaurants and travel (airlines, auto rental, and lodging) (1 additional point on top of the 1 point per dollar earned on net retail purchases).

Rewards Categories: Merchants who accept Visa credit cards are assigned a merchant code, which is determined by the merchant or its processor in accordance with Visa procedures based on the kinds of products and services they primarily sell. We group similar merchant codes into categories for purposes of making reward offers to you. We make every effort to include all relevant merchant codes in our rewards categories. However, even though a merchant or some of the items that it sells may appear to fit within a rewards category, the merchant may not have a merchant code in that category. When this occurs, purchases with that merchant won't qualify for rewards offers on purchases in that category.

Businesses may earn up to 10,000 points per calendar month, excluding bonus points. Points earned are available for redemption for a 3 year term. Points expiring during the year will be cleared from the Program Account on the last day of the month in which they expire.

Rewards Redemption

Businesses in the Base Rewards Tier may redeem points for (i) cash back to a First Citizens checking or savings account or credit card statement credits, (ii) credit towards a First Citizens personal loan or mortgage principal, (iii) Pay Me Back statement credits, (iv) travel rewards, including airline tickets, hotel, car rentals, cruises and tours, (v) retail gift cards and certificates and (vi) merchandise and (vii) donations.

These Terms are only a summary. Other restrictions and requirements apply. The full First Citizens Rewards® Program Rules will be provided upon enrollment and are accessible via the program website at FirstCitizensRewards.com at log in.

Program Rules are subject to change or cancellation without notice.

Источник: https://www.firstcitizens.com/

Discover Bank Online Savings Account Review

Discover Bank App

The online savings account from Discover Bank, Member FDIC offers competitive savings rates that will help your money grow faster.

Additionally, there are no monthly fees to worry about.

Find out what makes Discover Bank’s online savings account one of the best places to keep your extra cash.

In this Discover Bank Online Savings Account review, we'll compare rates, fees, and services to other national and online banks.

High Savings Rates to Reach Money Goals Faster

Savings accounts are designed to be places to store extra money that you cannot afford to lose.

Even if you never touch the money in your account, you still may end up losing out to inflation. Inflation reduces the value of money over time. To combat inflation, savings accounts offer interest. 

Most large banks offer interest rates close 0.01% APY on savings accounts.

Online banks cost less to run because they don’t need to pay for costly physical locations. That allows online banks to compete with traditional banks by offering higher interest rates.

Discover Bank’s online savings account offers an interest rate that is significantly higher than what you’ll get at large national banks.

Interest Rates Make a Big Difference Over Time

If you’re curious as to the power that an account’s interest rate has over time, consider this example.

You’re saving to put your child through college. You have 15 years until you have to pay the first bill and have $10,000 to start the account with. You’re planning to add $100 each month until your child enters college.

Over the course of the 15 years, you add a total of $18,000 to the savings account. All told, you’ll have contributed $28,000 to the account, any amount over that will have come from interest.

If you put your money in a savings account offering 0.01%APY, you’ll have $28,028.44. In 15 years, you’ll have earned just $28.44 in interest, not even $2 per year.

What makes interest such a powerful force over long time periods is the fact that it compounds. That means that you earn interest on your interest. As you leave your savings to compound, the amount of money you’ll earn from interest will accelerate.

Minimum Balance and Monthly Fees

Because savings accounts are supposed to be safe places to store your money, the last thing you want is to get hit with fees.

Despite this, many banks have instituted a wide variety of fees: maintenance fees, below minimum balance fees, ATM fees, and so on.

Banks have added these fees to accounts for two reasons. The first is that fees help the bank increase revenue.

The second is that the banks can offer to waive the fees if you meet certain requirements. That allows them to encourage customers to behave certain ways.

Even if you’re good at jumping through the hoops to avoid fees, one mistake can result in a large fee, wiping out the interest you’ve earned.

One of the big draws of Discover Bank’s online savings account is that there are no monthly fees and no minimum balance.

You can open an account with whatever amount of money you’d like. Once the account is open, you’ll never be charged a fee just for keeping the account open, no matter what your balance is.

The account is a truly safe place to keep your money since you can be confident that Discover won’t be taking your savings with fees.

Discover Bank Savings Account Fees

Type Fee
Monthly Maintenance Fee$0
Official Bank Check$0
Deposited Item Returned$0
Excessive Withdrawal Fees (In excess of 6 qualifying transactions)$0
Stop Payment Fee$0
Outgoing Wire Transfer$30
Incoming Wire Transfer$0
Insufficient Funds Fee$0

Other Fees

Discover Bank aims to keep the fees it charges to its customers to a minimum.

In fact:

This savings account doesn't have any fees.

That means no fees for incoming wire transfers or official bank checks. You can even get official bank checks expedited for free.

Savings accounts are supposed to be a safe place to store your money. They aren’t intended to be used like a checking account, with regular withdrawals or transfers.

For that reason, federal law mandates that customers be charged a fee for every transfer or withdrawal after the sixth per calendar month.

Now:

Discover won't charge for excessive withdrawals, but if they occur frequently, the bank may close the account.

Easy Access to Your Account

One of the most common concerns that people have about online bank accounts is how they can access their account.

Discover Bank offers a mobile application and website that has been designed to make it easy to access and manage your money.

Managing your money is easy. You can use the website or app to set up recurring transfers, move money between accounts, view your balance, and check your account activity.

Discover Bank’s online savings account accepts deposits in a variety of ways. The easiest is to deposit a check using the mobile app on your phone.

You can also transfer money to the account from another account at Discover or a different bank. Discover Bank also accepts direct deposits. Finally, you can physically mail a check to Discover Bank to make a deposit.

Withdrawing money is more difficult. You will need to transfer the funds to another account before you can withdraw it from an ATM.

Wire transfers will incur a fee. You can also request an official bank check through the mail, which you can then cash.

Award-Winning Customer Service

Discover’s credit card division became well known for its excellent customer service and Discover Bank is no different. You can call Discover any time for help or technical support with your account.

If you’d rather not make a phone call, Discover offers a secure messaging system and live chats with customer support representatives. You can also send physical mail to Discover Bank if you’d rather seek help that way.

Access to a Variety of Banking Services

Discover Bank doesn’t just offer an online savings account. Discover has followed the trend of many online banks that have expanded in recent years by offering a variety of banking services.

Most people are already familiar with Discover’s credit card offerings. You can also open a checking account, IRA or purchase certificates of deposit (CDs).

If you need a loan Discover Bank offers personal, student, or home equity loans.

If you’re looking to keep your financial life simple, having one bank serve all your financial needs is a big help.

Discover is a great choice if you’re looking to keep things centralized.

Compared to Other Online Savings Accounts

Discover is in tough competition with several other online banks that offer a very similar product:

Ally Online Savings Account

Ally Bank's online savings account also offers an impressive interest rate without monthly fees. It also offers a free online interest checking account and high CD rates.

Synchrony Bank High Yield Savings

Synchrony Bank offers a high savings rate without any monthly fees. The account also comes with optional ATM card for easy cash withdrawals.

Final Verdict: Solid Savings Account

All told, the Discover Bank Savings Account offers a fair interest rate and no fees. It’s a strong choice for someone who wants to do all of their banking with one company.

The biggest draw of Discover Bank’s online savings account will be the opportunity to centralize your finances.

Current Discover customers who are happy with the service they’ve received in the past can benefit from opening a savings account.

People with no existing relationship with Discover may be better served with another online bank with slightly higher interest rates.

More:The Best Savings Accounts of the Year

Continue Reading

Источник: https://www.mybanktracker.com

Discover Financial

American financial services company

Discover Financial Services is an American financial services company that owns and operates Discover Bank, which offers checking and savings accounts, personal loans, home equity loans, student loans and credit cards. It also owns and operates the Discover and Pulsenetworks, and owns Diners Club International. Discover Card is the third largest credit card brand in the United States, when measured by cards in force, with nearly 50 million cardholders. Discover is currently headquartered in the Chicago suburb of Riverwoods, Illinois.[2]

History[edit]

In 1981, Sears purchased the Dean Witter Reynolds brokerage firm organization and Coldwell, Banker & Company (real estate franchise)[3] as an attempt to add financial services to its portfolio of customer services. In 1985, Sears also acquired the Greenwood Trust Company. Altogether, these companies operated as a Sears subsidiary called Dean Witter Financial Services Group, Inc. The plan to create a one-stop financial-services center in Sears stores was not as successful as Sears had hoped. Its credit card operations accounted for a loss of $22 million in the fourth quarter of 1986, and a loss of $25.8 million in the first quarter of 1987.[4]

On March 1, 1993, Sears sold off its financial services branch as a new independent publicly traded company called Dean Witter, Discover & Co. with Dean Witter Reynolds in charge. This company had a stock ticker symbol of DWD.

In 1995, Discover Card Services, Inc. changed its name to NOVUS Services, Inc. to distinguish its network functions from the Discover Card.

In 1997, this company merged with investment banking house Morgan Stanley to become Morgan Stanley Dean Witter, Discover & Co.

Discover and Novus retired acceptance mark (still seen in many places)

On February 1, 1999, the company rebranded itself as Discover Financial Services, Inc.[5] The NOVUS logo was retired, replaced by the Discover Network logo.

In April 2005, Morgan Stanley announced that it would divest Discover Financial Services as an independent company within six months. By June, industry sources reported that Morgan Stanley was reassessing its plan to spin off Discover. In August, the company confirmed it would not sell Discover. However, on December 19, 2006 during a fourth quarter earnings report, Morgan Stanley CEO John J. Mack announced Discover would be spun off as a standalone publicly traded company by the end of August 2007, stating that both companies will be better positioned for growth and success as separate entities.[6] Ahead of schedule on June 30, 2007, Discover was spun off as an independent, publicly traded company.[7] It began trading on the NYSE for the first time on July 2 as DFS.

Acquisition of The Greenwood Trust Company[edit]

The Greenwood Trust Company was founded on August 30, 1911 and was based in Greenwood, Delaware. It was acquired in 1985 and renamed Discover Bank on August 1, 2000.[8] Discover Bank is mainly an online financial institution that offers many financial services such as checking accounts, savings accounts, and money market accounts. However the first and original location of the Greenwood Trust Company on 502 East Market Street is still operating and is the only physical banking location of Discover Bank. Discover Bank operates as a subsidiary of Discover Financial Services and is FDIC insured.[9]

Acquisition of Pulse[edit]

In 2005, Discover Financial Services acquired Pulse, an interbank electronic funds transfer payments network. This allowed Pulse and its more than 4,000 member banks, credit unions, and savings institutions to join with the Discover Network's 4 million merchant and cash access locations. Additionally DFS now had the ability to market and issue debit and ATM cards. On February 13, 2006, DFS announced that it would begin offering Discover debit cards to other financial institutions, becoming the first credit card services company to compete directly with MasterCard and Visa in the rapidly growing signature debit market.[10]

Acquisition of Diners Club International[edit]

In April 2008, Discover Financial and Citigroup announced that Discover was purchasing the Diners Club International network from Citigroup for $165 million. In May 2008, the Federal Trade Commission approved the transaction and it was finalized on July 1, 2008.[11] Discover stated that the Diners Club network, which is a major network outside the United States, will be merged with the Discover Network, a major network in the United States. The creation of an international network for Discover and Diners Club cardholders allowed customers to expand their global reach. Diners Club cards will continue to be issued by Diners Club International licensees. At this time, Discover Bank has no plans on issuing Diners Club branded cards itself.

Acquisition of Student Loan Corporation[edit]

On September 17, 2010, Discover Financial Services announced it would acquire Citigroup-owned Student Loan Corporation for $30/share.[12] The deal was finalized on December 31, renamed Discover Student Loans, and expanded DFS's market presence and origination capabilities in private student loans.[13] In 2014, DFS launched Rewards for Good Grades, rewarding college and graduate students who get at least a 3.0 GPA (or equivalent) a one-time cash reward equal to 1% of the loan amount on each new Discover student loan. In 2015, DFS introduced an interactive tool called FAFSA assistant to help students and their families get ready to complete the FAFSA. The tool provides individualized tips and guidance based on personal situations.

Acquisition of Home Loan Center[edit]

On June 6, 2012, Tree.com, Inc. completed the sale of substantially all of the operating assets of its Home Loan Center, Inc. business to a wholly owned subsidiary of Discover Financial. In exchange for the assets sold, Discover paid an aggregate of $45.9 million including payments made prior to the closing which were applied to the closing price.[14] On June 12, 2012, Discover began originating mortgages with its launch of Discover Home Loans, offering prime variable- and fixed-rate conventional and FHA home mortgage loans. The Home Loans business was later sold in 2015.

Business developments[edit]

In 1989, Discover Network signs its 1 millionth merchant, a restaurant called Vincente's Restaurant in Wilminton, Delaware.[15]

In 1995, DiscoverCard.com was launched where consumers could apply for credit cards, pay bills, redeem rewards, receive email reminders, and earn extra rewards through online retail partners.

On December 22, 1998, the company introduced Discover Platinum, a premium card featuring new ways to increase rewards, low balance transfer and annual percentage rates, no annual fee, and expanded credit lines.

On December 21, 2001, fourth-quarter income at Discover grew 31% to $193 million, compared with $147 million the year before.[16]

In 2002, Discover launched the industry's first keychain credit card. It was named the Discover 2GO Card and was recognized as one of the "Best Products of 2002" by editors and reporters from Business Week and USA Today.

On March 5, 2002, the company announced that the Account Center at Discovercard.com had registered over eight million card members, an increase of 61% since January 2001.[17]

On September 1, 2002, Discover announced that Citibank would accept the Discover® Card for cash advances at its approximately 450 Financial Centers and more than 2,000 ATM locations nationwide.[18]

In 2003, Discover introduced gas and miles rewards cards. The Gasoline Card (renamed Open Road in 2007) awarded 5% Cashback Bonus on gas purchases. The Miles Card by Discover card allowed redemption with as little as 2,500 miles for non-flight reward options. Discover also introduced the option for paperless statements to minimize the impact on the environment and reduce clutter for customers.

In October 2004, the Supreme Court upheld a ruling in Discover's favor that challenged exclusionary policies of Visa and MasterCard, stating that Mastercard and Visa were violating antitrust regulations with anticompetitive practices. Before this ruling, Visa and MasterCard would not allow banks to issue a Discover or American Express card if they issued a Visa or MasterCard. Within days of the court ruling, Discover filed a lawsuit in federal court seeking damages from Visa and MasterCard. In October 2008, DFS was awarded $2.75 billion in damages, the third largest settlement at the time in U.S. history. Shortly after the Supreme Court ruling, Discover struck its first deal to have its cards issued by another financial institution, GE Consumer Finance, which began to issue credit cards for retailer Walmart and its wholesale warehouse stores, Sam's Club.[19] Transactions were processed on the Discover Network. Sam's Club exclusively accepted Discover for many years; since November 2006, it has also accepted MasterCard for purchases. In April 2014, Walmart announced that they were ending their relationship with Discover and would begin converting all Discover-branded cards to Mastercard beginning in June 2014.[20]

HSBC has issued Discover-branded credit cards processed through the Discover Network since its acquisition of card issuer Metris in late 2005. Metris had originally signed an agreement with Discover in September 2005, three months prior to the HSBC acquisition.

In 2006, Discover Network united with Visa, MasterCard, American Express, and JCB to form the Payment Card Industry (PCI) Security Standards Council, which helps to manage the ongoing payment account security throughout the transaction process. In this same year, DFS also launched the Discover Business Card, offering a single payment solution for small business owners. On July 14, 2006, DFS and First Data Corp., a global leader in electronic commerce and payment services, announced that First Data would offer Discover Network card services to small- and mid-sized merchants.

On March 13, 2007, Discover Financial Services announced the Discover Motiva card, the credit card that gives cardmembers cash rewards for making six on-time monthly payments in a row. This card was the industry's first credit card to give cash rewards for good credit management. Later in the year, DFS announced the Discover More card to replace the Discover Platinum card. The Discover More card was designed for consumers who use credit in many different categories and provided them with more ways to earn cash back on their purchases.

Following the 2007-08 financial crisis, Discover received about $1.2 billion in bailout funds under the Troubled Asset Relief Program (TARP). The company announced in 2010 that it had received approval to pay back the funds.[21]

In 2009, Discover Financial Services introduced the Spend Analyzer tool, an innovative easy-to-use online tool that provides cardmembers with a visual representation of their Discover card purchases for the past 24 months.

In 2010, Discover Financial Services and Softcard announced a strategic partnership to build a mobile payment network that utilizes mobile phones to make point-of-sale purchases.

In September 2012, Discover Financial Services was ordered to pay over $200 million in fines and customer reimbursements to settle accusations by U.S. federal regulators that it had engaged in deceptive telemarketing tactics.[22]

In 2012, Discover Financial Services announced a five year, $10 million commitment called Pathway to Financial Success to help bring financial education curriculum to public high schools across the U.S.

In 2013, Discover Financial Services and PayPal partnered to enable millions of participating merchants to accept PayPal easily through their existing relationship with Discover. In the same year, Discover Cashback Checking was introduced. This checking account product paid customers 10 cents for every debit card purchase, online bill payment, and check written. Additionally in this same year, the Discover it card was announced. The card rewards cardmembers with 5% cash back in rotating categories each quarter like gas and restaurants. Discover also introduced Discover Home Equity Loans, offering homeowners the opportunity to simplify their finances inclusive of supporting home improvement projects, paying for major expenses, or consolidating debt into a single, fixed monthly payment. Discover also became the first major credit card issuer to provide free access to FICO Credit Scores based on TransUnion data directly to its cardmembers on their monthly statements. Additional information provided with their FICO Credit Scores were educational content to help them better understand their scores.

In 2014, Discover Financial Services launched Discover it Chrome for Students, allowing students to establish credit while earning 2% at gas stations and restaurants.

In 2015, Discover Financial Services launched Discover it Miles, which rewards 1.5 miles per dollar spent.

In 2016, Discover Financial Services launched Discover it Secured for consumers looking to build their credit. Additionally, DFS expanded FICO Credit Scores based on Experian data for free to everyone via a platform called Credit Scorecard, which also included a summary of the data that helps determine an individual's FICO Credit Score.

In 2017, Discover Financial Services launched a free service called Discover Identity Alerts to notify cardmembers if their social security numbers are found on risky websites and if any new accounts are opened on their Experian credit report. All of these services are offered at no cost and do not impact credit scores.

In 2018, Discover Financial Services announced a change to its checking account rewards program, a new industry-leading reward of 1% cash back on up to $3,000 in qualifying debit card purchases each month. Additionally DFS also introduced First Fee Forgiveness, a new program that automatically waives the first eligible fee each calendar year for certain Discover accounts. Eligible fees included in the program were inclusive of insufficient funds, stop payment, excessive withdrawal and Money Market minimum balance fees. For its U.S.-based employees, DFS launched the Discover College Commitment, which offers employees a full ride bachelor's degree program covering tuition, required fees, books, and supplies to select online degrees. On September 12, DFS launched the Discover it Business credit card, offering unlimited 1.5% cash back on all purchases, as well as free business and security features.

In 2019, Discover Financial Services' subsidiary Discover Bank eliminated most fees on all of its deposit products. Additionally, Discover Home Equity Loans surpassed $1 billion in funded loans, helping over 20,000 homeowners with their financial goals. DFS also launched contactless cards this year.[23]

Advertising[edit]

From 1998 to 2007, Discover Card owned a billboard at One Times Square, just above the flagpole where the Times Square Ball is placed, until Toshiba bought the space. As a result, its logo could be seen on national television during New Year's Eve, while the ball dropped. Discover also sponsored the ball drop itself.[24][25]

From its opening in 2001 to 2012, Sugarloaf Mills Mall in Lawrenceville, Georgia was named Discover Mills in a naming rights partnership with Discover Card. The slogan for the mall was "Where Discover Card is the Smart Choice." It was the first shopping mall to have granted naming rights to interested companies.[26][27]

Since 2008, Discover has been the official credit-card partner of the National Hockey League. As part of this deal, Discover offers team- and league-branded credit cards as well as a 10% discount on purchases made from the NHL's online store using Discover.

In 2011 and 2012, Discover participated and won the Grand Marshal award for excellence in creative concept and design in the Tournament of Roses Parade in Pasadena.

From 2011 to 2013, Discover was the sponsor of the college football Orange Bowl.

In 2013, Discover was the sponsor of the BCS National Championship.

In 2017, Discover was named the first ever presenting sponsor and official credit card of the Big Ten Football Conference and Championship Game as part of a multi-year sponsorship.[28]

Business[edit]

In addition to its card products, Discover Financial Services also markets savings products, checking accounts, personal loans, student loans, identity protection, and home equity loans.[29]

Competitors[edit]

In the United States, Discover, as a card network, competes primarily with Visa, MasterCard, and American Express.[30] Unlike Visa and MasterCard, Discover directly issues its cards as both the card network and associated bank, through its Discover Bank unit.[31] When measured by card balances, Discover is the sixth largest credit card issuer in the U.S. behind JPMorgan Chase, Citigroup, Bank of America, Capital One and American Express, and ahead of Wells Fargo and U.S. Bank.[32]

References[edit]

  1. ^ abcdef"Annual Report 2020 (SEC Form 10-K)"(PDF). U.S. Securities and Exchange Commission. Retrieved May 21, 2021.
  2. ^"Discover Financial Services - Company Profile and News". Bloomberg News. Retrieved July 2, 2020.
  3. ^"A Brief Chronology of Sears History". Sears Brands, LLC. Retrieved August 12, 2009.
  4. ^Barmash, Isadore. "Sears Net Rises 47.4% in Quarter", The New York Times, April 22, 1987.
  5. ^Kagan, Julia. [1]. Investopedia.com, June 27, 2018.
  6. ^[2]. June 1, 2007.
  7. ^“Discover flying solo”. The Green Sheet, July 9, 2007. Retrieved 2016-12-05.
  8. ^"Greenwood Trust Company Renamed Discover Bank" (Press release). Discover Financial Services. August 1, 2000. Archived from the original on January 21, 2014.
  9. ^"Discover Bank Locations".
  10. ^"Merger of Discover Financial Services and Pulse EFT Association closes following Pulse member approval" (Press release). Discover Financial Services. January 12, 2005. Archived from the original on December 8, 2012. Retrieved October 22, 2007.
  11. ^Miller, James P. (July 1, 2008). "Discover completes purchase of Diners Club". Chicago Tribune. Archived from the original on July 6, 2008. Retrieved July 1, 2008.
  12. ^"Discover Financial buying Citigroup's Student Loan Corp". Crain's Chicago Business. September 17, 2010. Retrieved December 19, 2014.
  13. ^"Discover Completes Acquisition of the Student Loan Corporation" (Press release). Discover Financial Services. January 11, 2011. Retrieved December 19, 2014 – via Business Wire.
  14. ^"Tree.com Completes Sale of Certain Assets of Home Loan Center, Inc. to Discover" (Press release). Tree.com. June 7, 2012. Archived from the original on May 22, 2013. Retrieved July 14, 2012.
  15. ^Harkness, Brendan. [3]. CreditCardInsider.com, April 7, 2020.
  16. ^"Discover's Fourth Quarter Net Income Grows 31%".
  17. ^"Discover Card Account Center Launches Online Sweepstakes; Click, Pay and Win With SmartCheck on Discovercard.com" (Press release). Discover Financial. Archived from the original on March 31, 2012. Retrieved June 18, 2013.
  18. ^"Discover Card Now Accepted for Cash Advances At Citibank; Discover Card Is Now Accepted At All U.S. Citibank Financial Centers and ATMs" (Press release). Discover Financial. Archived from the original on March 31, 2012. Retrieved June 18, 2013.
  19. ^Kingson, Jennifer A. "Credit Card Issuers Adjust to Open Field", The New York Times, March 26, 2005.
  20. ^Lee Enterprises. "Wal-Mart taps MasterCard for store-branded credit card". stltoday.com.
  21. ^"Discover Lifts The TARP". Forbes. March 17, 2010. Retrieved February 28, 2018.
  22. ^"Federal Deposit Insurance Corporation and Consumer Financial Protection Bureau Order Discover to Pay $200 Million Consumer Refund for Deceptive Marketing". Consumer Financial Protection Bureau.
  23. ^"Discover - Our Company | Discover Card".
  24. ^Metro Business; Discover Is Sponsor For Year 2000 Event
  25. ^Back in Times Square, Toshiba Stands Tall
  26. ^"The Mills Corporation Announces the Grand Opening of Discover Mills". PR Newswire. Retrieved March 9, 2016.
  27. ^Sawicki, Beth (September 21, 2012). "Discover Mills renamed Sugarloaf Mills". Gannett. 11 Alive News. Archived from the original on January 16, 2013. Retrieved March 9, 2016.
  28. ^"Discover - Our Company | Discover Card".
  29. ^"Discover - Our Company | Discover Card".
  30. ^Holmes, Tamara P. "Credit card market share statistics". CreditCards.com, June 22, 2016. Retrieved 2016-11-28.
  31. ^Kiernan, John S. "List of Credit Card Companies & Networks: Differences, Contact Info & More". WalletHub, March 31, 2016. Retrieved 2016-11-28.
  32. ^"Q1 2016: U.S. Credit Card Issuer Snapshot". Retrieved November 28, 2016.

External links[edit]

Источник: https://en.wikipedia.org/wiki/Discover_Financial

Update 10/23/21: Deal is showing again.

10/19/21: Cumulative deposits seem to still be working, as always still a risk.

Update 9/24/21: Hello old friend…this deal is finally back again. Unknown if cumulative deposits will still work or not. Hat tip to reader Gadget & Dev

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: Nationwide
  • Direct deposit required: None
  • Additional requirements: Deposit $15,000 for $150 bonus, or $25,000 for $200 bonus
  • APY:  0.40%
  • Initial Deposit: None
  • Hard/soft pull: Soft
  • ChexSystems: No for Online Savings
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: None mentioned
  • Expiration date: Open by 12/15/21
  • Insured: FDIC

Contents

The Offer

Direct link to offer

 

The Fine Print

  • Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded or affinity accounts provided by Discover (this bit is new)
  • Account must be open when bonus is credited.
  • Bonus will be credited to the account by 11/4/19.
  • Bonus is considered interest and will be reported on IRS Form 1099-INT.
  • Offer may be modified/withdrawn.

Avoiding Fees

Discover’s Online Savings Account does not have any fees, nor any minimum balance requirement. You can withdraw any funds you wish after fulfilling the $25,000 (or $15,000) deposit requirement.

Early Termination Fee

There is no mention of an early termination fee according to the Online Savings Account Guide. You must, at minimum, leave the account open until the bonus posts, or November 30, 2017.

Our Verdict

The deposit requirement increasing to $25,000 shouldn’t matter too much as it looks like cumulative deposits work anyway. The best part of this deal is that there is no deposit minimum length so you should be able to deposit the (or $15,000) and then immediately withdraw it. In the past the bonus has posted 5–15 days after the deposited has been received but recently it has been taking much longer. A lot of people like these Discover bonuses because they also offer a decent APY (0.40% currently), although there are better APYs available. This is one of the best savings account bonuses currently available.

Useful posts regarding bank bonuses:

Deal History

Quick note: The bonus usually isn’t extended as such, but a new deal with a new promotion code comes along and we just use the verbiage ‘extended’. Obviously no guarantee they will continue to do so.

  • Update 4/7/20: Extended until 5/11/20.
  • Update 3/2/20: Deal has been extended until 4/6/20 (hat tip to reader Pat)
  • Update 2/4/2020: Deal has been extended until 3/2/20
  • Update 1/7/20: Deal has been extended until 2/3/20.
  • Update 12/3/19: Deal has been extended until 1/20/20
  • Update 11/6/19: Deal has been extended until 12/2/19
  • Update 10/8/19: Deal has been extended until 11/4/19.
  • Update 9/10/19: Deal extended until 10/7/19
  • Update 8/6/19: Deal extended until 9/9/19
  • Update 7/2/19: Deal extended until 8/5/19
  • Update 6/5/19: Deal has been extended until July 1st, 2019. I’ve updated the promo code and expiration dates below.
  • Update 6/5/19: Deal has been extended until July 1st, 2019. Updated the promo code.
  • Update 4/2/19: Deal has been extended until June 5th, 2019.
  • Update 3/5/19: New code and now valid until April 1st, 2019.
  • Update 2/5/19: New code and valid until 3/4/19 now.
  • Update 1/16/19: Yesterday there was a small issue with the promo code, that has now been resolved.Update 01/15/2019: There is a new working link and code. This time good for applications through February 4th, 2019.
  • Update 12/04/2018: There is a new working link and code. This time good for applications through January 14th, 2019.
  • Update 11/03/2018: There is a new working link and code. This time good for applications through December 3rd, 2018.
  • Update 10/09/18: There is a new working link and code. This time good for applications through October 31st, 2018.
  • Update 09/10/2018: There is a new working link. This one is definitely not an affiliate link of any type.
  • Update 07/20: There is a new working link that doesn’t look like it’s a NerdWallet link, but might be an affiliate link for another site.
  • Update 07/12/18: There is a new working link that is valid until 7/31/2018. This is another NerdWallet link and they will get comission if you use it. I personally don’t like NerdWallet as they are affiliate link focused and don’t always post the best deals. That being said I want my readers to have the best choice possible so that’s why I’m adding it. If anybody finds a non NerdWallet link let us know. You might also just be able to use promo code SAVE718E1 or SAVE718E2 and it should work. We don’t receive anything if you use the NerdWallet link or any other bank account bonus or credit card link as we believe remaining independent is important.
  • Update 06/05/18: Bonus has been extended until 6/29/18
  • Update 05/18/18: Gadget & rediff found a new working code: SAVE518E1. This means NerdWallet won’t get paid when you use this code. This link should also work, but not sure if it’s one time use or not.
  • Update 05/09/18: Deal is back and valid until 6/4/18. New promo code is NW518. Sadly I think this is an exclusive offer to NerdWallet and they get paid if you use this link. Personally I hate NerdWallet because I find they suggest inferior offers on a regular basis but this Discover Savings bonus is a great deal. I’ve tried to get Discover to agree to give money to charity instead of paying out affiliate commissions but they never respond.
  • Update 03/27/18 : Deal has been extended until 05/04/2018. New promo code is SAVE318D2. Hat tip to reader Gadget.
  • The Discover savings bonus has been extended again until April 2nd, 2018.
  • Offer has been extended again. You must now open it by 02/28/18 and deposit by 03/14/18
  • Originally posted on September 19th, 2017. Reposting on November 2nd, 2017 because the offer has been extended. The $200 offer now requires a deposit of $25,000 instead of $20,000. Bonuses for AAA & AAII have not been extended yet.
Источник: https://www.doctorofcredit.com/discover-savings-150200-bonus-1500020000-deposit-new-exp-103117/

Discover Savings Bonus: $200 or $150 Cash Offer Code for November 2021

Discover Bank Online Savings account bonusFind the latest Discover Savings bonus, offer codes, promo codes, and promotion here! Member FDIC.

Available nationwide, the Discover Online Savings Account that offers to kick-start your savings with a $200 or $150 bonus along with 0.40% APY – one of the highest rates online!

To redeem this offer, apply for your first Discover Online Savings account by 12/15/2021 and be sure to use the promo code HMB21 when applying. See advertiser website for full details on the promotion terms to earn your Discover Savings Bonus!

Certainly this is a great way to earn some extra money on your cash balances for opening an online savings account. Plus, you’re earning a great rate!

Discover Bank is FDIC-insured. Enjoy online convenience and high interest yields while receiving a safe and secure way to save money each month.

What’s great is that your savings account has no monthly minimum balance requirement! Discover Bank has no retail/brick & mortar locations and is only available online.

As with any online bank, Discover can avoid the overhead costs of a physical branch. As a result, they save money and can offer you a higher savings rate. This is why Discover offer far better rates than your local bank! See below on how to earn you Discover Savings Bonus

Table of Contents

Discover Savings Bonus Summary


Discover Bank Online Savings

Open a Discover Online Savings Account for all these features:
• Bonus offer applies for your first Discover Online Savings Account
• Earn $200/$150 Bonus with promo code HMB21 by 12/15/2021
• Fund your first savings account with at least of $25K within 30 days of account open date to earn the $200 Bonus
• Fund your first savings account with at least of $15K within 30 days of account open date to earn the $150 Bonus
• Earn high interest rate of 0.40% APY
• No minimum opening deposit, no minimum balance requirement, and now no fees
• Interest on Discover Online Savings Accounts is compounded daily and credited monthly
• Manage your account online or with the Discover mobile app
• FDIC insurance up to $250,000


See advertiser website for full details


Discover Savings Bonus Information


Direct Link to Offer
Account TypeOnline Savings Account
AvailabilityOnline nationwide
What’s the offer?$150 or $200 bonus
Current APY0.40%
Expiration Date12/15/2021
Promo CodeHMB21
How to openOnline or by phone (1-800-347-7000)
How to qualifyMust be your first Discover Online Savings Account.
When you’ll receive itBonus will be credited to the account within 30 days of the account qualifying for the bonus.
Account monthly fee$0; There are no fees or minimum balance requirements
Account closure feeNone

How To Earn Discover Savings Bonus


*See advertiser website for full details.*

Discover Savings Bonus promo code offer code

Earn a $200 or $150 bonus coupon code

HOW TO EARN BONUSACCOUNT FEATURESMONTHLY FEESFINE PRINT

To Earn $150 Bonus:

  • Must be a new Discover Bank Online Savings Account customer
  • Apply for your first Discover Online Savings Account through HustlerMoneyBlog.com by 12/15/2021 using offer code HMB21
  • Fund your first savings account with a minimum deposit of $15,000 within 30 days of account open date.
  • Finally, verify information and electronically sign your application. They may ask your to verify some information on your credit report such as old addresses or loans.
  • As a result, you’ll earn your $150 Discover Savings Bonus!

To Earn $200 Bonus:

  • Must be a new Discover Bank Online Savings Account customer
  • Apply for your first Discover Online Savings Account through HustlerMoneyBlog.com by 12/15/2021 using offer code HMB21
  • Fund your first savings account with a minimum deposit of $25,000 within 30 days of account open date.
  • Finally, verify information and electronically sign your application. They may ask your to verify some information on your credit report such as old addresses or loans.
  • As a result, you’ll earn your $200 Discover Savings Bonus!
  • No minimum opening deposit.
  • No minimum balance requirement.
  • Interest is compounded daily and credited monthly.
  • Now with no fees.
  • Auto Savers plan which automatically transfers money from your personal checking account into your savings account each month.
  • FDIC insurance up to $250,000.
  • Manage your account online or with the Discover mobile banking apps. Features include checking your savings account balance, viewing recent activity, viewing earned interest, and the ability to make and set up transfers, and works on the Android, iPhone, and Blackberry devices.

$0; There are no fees or minimum balance requirements

Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded or affinity accounts provided by Discover. Account must be open when bonus is credited. Bonus will be credited to the account within 30 days of the account qualifying for the bonus. Bonus is considered interest and will be reported on IRS Form 1099-INT. Offer may be modified/withdrawn without notice.


Benefits of Using Online Savings Accounts

So what are the benefits of a Discover Bank Savings account?

Actually Earn Interest

When you’re considering online savings account benefits, interest rates is definitely one to think about. Definitely take a look and compare annual percentage yields (APY) – which is the amount of money you’ll accrue through interest earned on your account balance over the course of the year. Hence a high APY will surely help you build & grow your savings much more quickly over time!

Grow Your Savings with No Fees

While many banks will require you to maintain a minimum balance to avoid a monthly fee, some may even require you to complete specified requirements like direct deposits or a fee will incur. As a result, these fees can surely take away from your interest and even principal balance. Hence opening an online savings account with no fees will ensure you peace of mind that your funds are accruing interest to help you meet your financial goals!

Easy Access To Your Money

Sometimes emergencies happen and you need easy access to your money. Therefore, online savings accounts allows you the benefit of accessing your account online or using your mobile device – anywhere, anytime. This benefits enables you the convenience of being able to view your balance, deposit money, manage account activity on-the-go. In addition to these features, you’re also able to transfer funds from your online savings account to your other accounts!

Note: There are usually limitations on the number (and types) of transactions with an online savings account. There may be an excessive withdrawal fee if you exceed a certain number of transactions per month. Therefore, please be sure to familiarize yourself with the terms and conditions or contact the bank for clarification.

Build Your Savings with Automatic Deposits

One habit that may be difficult to form is … saving money on a routine basis. Therefore, with with weekly or monthly automatic deposits, you can offset your willpower and have funds transferred form your checking account into your online savings account with no effort needed each time!

As a result of this benefit, you can grow your savings without having to put in effort or thought – whether the deposits be small or large, you’re one step closer to meeting your financial goals which will surely add up over time!


Bottom Line

If you’re on the search for an account that offers a bonus, highly competitive annual percentage yield (APY) rates on your funds, and low fees, then you’re definitely looking at the right spot. To conclude, the Discover Savings Account is the right fit for you if you’re looking for all three in one account.

Surely, online savings accounts offer several perks and benefits such as competitive interest rates on top of no fees to worry about, and granting easy access to your account which isn’t offered by all banks.

Therefore, you can open a Discover Bank Online Savings Account any time by completing their 3-step online form. Next, fund your first savings account with $15,000 minimum for the $150 bonus or $25,000 minimum for the $200 bonus. Finally, submit your information after verification, and you’re ready to start earning great rates! You can access your money when you need it! Be sure to use the offer code to redeem this Discover Savings Bonus offer!

Online money transfers are fast and free! You can transfer money to or from any linked bank account. Plus, make up to 6 outgoing transfers per statement cycle. Sign up for the Discover Bank Online Savings Account to earn up to a $200 bonus today! See our full list of Bank Rates for all the best online banks! Interested in a checking account? See our review on the Discover Bank Cashback Debit account!

(See advertiser website for full details to earn your Discover Savings Bonus.)


See our best bank bonuses updated daily to earn up to $1,000 in free money. Find popular checking offers such as Chase Bank, HSBC Bank, TD Bank, Huntington Bank, Axos Bank, Discover Bank, Wells Fargo, and PNC Bank. See our best rates for Savings and CD.
PROMOTIONAL LINKOFFERREVIEW
Wells Fargo Everyday Checking$200 BonusReview
Discover Online Savings Account$200 CashReview
Chase Business Complete BankingSM$300 CashReview
HSBC Premier CheckingMember FDIC$450 CashReview
Chase Total Checking®$225 CashReview
Chase Secure BankingSM$100 CashReview
Huntington 25 Checking$300 CashReview
TD Bank Beyond Checking$300 CashReview
TD Bank Convenience CheckingSM$150 CashReview
Discover Cashback Debit Account$360 CashReview
Huntington Bank Unlimited Plus Business Checking$750 CashReview
Huntington Bank Unlimited Business Checking$400 CashReview
Huntington Bank Business Checking 100$100 CashReview
SoFi Money$100 CashReview
PNC Bank Virtual Wallet®Up to $300 CashReview
PNC Bank Virtual Wallet® Checking ProUp to $200 CashReview
Aspiration Spend & Save Account$150 CashReview
Axos Bank Rewards Checking$100 CashReview
Axos Bank Basic Business Checking$100 CashReview
Acorns Spend Checking$75 CashReview
TradeStationUp to $5,000 CashReview
Ally InvestUp to $3,000 CashReview
American Express High Yield Savings0.40% APYReview
BlockFi Up To $250 BTC Review
Voyager (code ANTJZL)$25 In BTCReview
Coinbase$10 In BTCReview
Discover Savings Bonus

Filed under: Bank Promotions, Discover Bank Promotions, Discover Savings Bonus

Disclaimer: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

About Anthony Nguyen

Anthony Nguyen, founder of HustlerMoneyBlog.com, has a passion for finding the best deals, bank promotions, credit card offers, cash back, points & miles, and everything in between. Contact Anthony for media/advertising.

Источник: https://www.hustlermoneyblog.com/discover-savings-bonus/

Bank On certifies the Cashback Debit account from Discover because of its no fees and online capabilities

Cashback Debit, the online checking account from Discover, was recently certified by the national nonprofit organization, Cities for Financial Empowerment (CFE) Fund. The CFE Fund’s mission is to improve the financial stability of low and moderate income households by embedding financial empowerment strategies into local governments. The CFE Fund developed the Bank On National Account Standards, which support financial institutions’ efforts to connect consumers to secure and low-cost bank accounts. Discover is the first digital bank to meet the Bank On’s certification standards with the no fee1 Cashback Debit account.

"Financial inclusion is more critical than ever—especially during the COVID-19 pandemic when quick and reliable access to funds like stimulus checks is essential," said Carlos Minetti, president of consumer banking at Discover. "Bank On’s certification standards identify safe and affordable financial products, which help consumers avoid expensive alternative financial services and put them on a path to increased savings and financial empowerment. The Cashback Debit account from Discover has no fees and lets customers earn cash back on eligible debit card purchases, ensuring customers can keep more of what they earn and save."

The Bank On certification standards developed by the CFE Fund outline critical product features for bank accounts appropriate for those currently outside of the mainstream banking system. Product features include low costs, no overdraft fees, and robust transaction capabilities such as a debit card and online bill pay.

The Cashback Debit checking account meets Bank On’s certification standards based on its no-fee structure, including access to over 60,000 no-fee ATMs across the country2, and convenient tools to help consumers deposit checks and pay bills online. It also rewards customers with 1% cash back on up to $3,000 in eligible debit card purchases each month. Discover offers customers the option to automatically deposit their debit card Cashback Bonus into an eligible Discover Online Savings account each month, allowing them to grow their savings with interest. As a digital bank, customers can access their account whenever and wherever they are while knowing they always have 24/7 access to U.S.-based customer service.

About Discover

Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. For more information, visit www.discover.com/company.

1 Outgoing wire transfers are subject to a service charge. Customers may be charged a fee by a non-Discover ATM if it is not part of the 60,000+ ATMs in our no-fee network.

2 Some ATMs have limited hours and/or restricted access. Customers may be charged a fee by the ATM owner if they use an ATM that is not part of our no-fee network.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210217005163/en/

Contacts

Media Contact
Sheetal Shah
224-405-0297
[email protected]
@Discover_News

Источник: https://www.yahoo.com/now/discover-recognized-first-digital-bank-130000387.html
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