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Discover is a digital bank and payment services company, and its mission is to help people manage their finances to achieve a brighter future. They cater to a variety of financial needs which makes them a very flexible provider to use.
Summary: If you need access to cash, Discover offers a large network of ATMs that you can use throughout the nation.
Account Opening
Fees
Deposits & Withdrawals
Features
Customer Service
Safe & Secure
| HQ | Riverwoods, Illinois, United States |
| Deposit Insurance | Yes, up to $250,000 |
| Monthly Fee | $0 |
| Min. To Open | $0 |
| Min. Deposit For No Fee | $0 |
| Min. Balance For APY | $0 |
| Interest Compounded | Daily |
| Transactions | 6 per calendar month |
| State Restrictions | Available in all States |
With Discover Banks’ savings, your money can grow inside of an account that remains one of the highest earning options out there. The account is FDIC insured, which means you can feel safe knowing that up to $250,000 of your capital is protected.
Another point to take note of is Discover’s extensive network of ATMs, which provides easy access to your cash wherever you may find yourself which is always a plus.
To open an account, you can go online and begin the process on the website. You’ll be prompted to input all the necessary information like security questions and contact forms. Discover makes it easy to start an account and increase your savings and if you have any issues, you can contact their very helpful support team. If this is going to be your first online savings account, it is a promising option since there are no fees.
With the Discover Online Savings account, there is no required minimum deposit and no minimum to start earning interest. It’s even free to open. However, there are out-of-network ATM fees.
The accessibility to an account of this nature makes it a highly regarded asset in any financial scenario.
The following are some features for the online savings account:
Funds can be deposited in many ways. Some of these include wire transfers, mobile deposits, mailed checks, and electronic fund transfers. Customers cannot deposit cash into the online savings account.
The withdrawal process is quite similar. You can request a mailed check, wire transfer, ATM withdrawal, or electronic funds transfer, and they will get your money to you as soon as possible. Another way to do with is to transfer funds from your Discover Online Savings Account into a local bank branch account and receive the money through that workaround.
The customer support at Discover is highly regarded. They will help you take care of all your needs, 24/7 which really comes in handy in a pinch. The customer support number is 1 (800) 347 – 2683 and you can also access customer support through the mobile app. They offer several ways to satisfy the customer needs which shows their dedication to their users.
Discover uses security practices that are designed to keep customer information safe and secure. They even post tips on their blog teaching people the best methods to protect themselves in the digital environment. They believe convenient banking should be accessible to all without having to worry about the possible threat of cyber-attacks. In addition to their plentiful security, your money is insured for up to $250,000 by the FDIC.
If you’re looking for an online bank account with a high annual percentage yield and low maintenance cost, this might be the account for you. There are no account minimums, no insufficient funds charges, and great features on the mobile app. It takes the stress out of managing your finances because you can be sure that your money will be growing, while it stays safe with Discover.
