Discover Bank Online Savings Account Review 2024: Nationwide ATM Access

Victoria Daniel

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.

Overall rating


Summary: If you need access to cash, Discover offers a large network of ATMs that you can use throughout the nation.

Discover Bank Online Savings Account

discover bank logo


Est. APY


Min. To Earn APY



Account Opening




Deposits & Withdrawals




Customer Service


Safe & Secure


  • No insufficient funds fee
  • No minimum required deposit
  • User friendly mobile app


  • Out-of-network ATM fees

Best For

  • High APY
  • No minimum deposit
  • Large ATM network


HQRiverwoods, Illinois, United States
Deposit InsuranceYes, up to $250,000
Monthly Fee$0
Min. To Open$0
Min. Deposit For No Fee$0
Min. Balance For APY$0
Interest CompoundedDaily
Transactions6 per calendar month
State RestrictionsAvailable in all States

In depth review on Discover Online Savings Account

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.

Discover Online Savings is best for

  • High APY: The savings account offers a competitive annual percentage yield with daily compounding.
  • No minimum deposit: With no minimum required deposit, it leaves the door open for anyone with an internet connection. Also, there are no monthly maintenance fees.
  • Large ATM network: Access to cash is important, so Discover offers a large network of ATMs that you can use wherever you may find yourself.

Discover Online Savings benefits

  • No insufficient funds fee: When you have insufficient funds, you won’t be charged overdraft fees. That means a lot less stress when times are tough.
  • User friendly mobile app: The app is efficient and visually appealing. Also, you can easily access all your information from the palm of your hand. 

Discover Online Savings drawbacks

  • Out-of-network ATM fees: If you use an ATM that Discover isn’t partnered with, you’ll be charged a fee that won’t be reimbursed.

Account opening


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:

  • High APY
  • No minimum deposit
  • No account maintenance fees
  • No withdrawal fee
  • $0 official bank check

Deposits and withdrawals


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.

Customer service


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.

Safe and secure


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.

Is Discover Bank Online Savings Account right for you?

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.