Discover Bank Online Savings Account Review - Make Lemonade

Discover Banking Review

Discover Bank Online Savings Account Review

Company Overview: Discover

Discover is a diversified financial services company with a leading online bank that offers a high yield savings account to help your money grow faster.Its online bank has national reach, and is based in Delaware.

Discover Overview

Discover offers attractive rates and terms compared with other top online bank accounts:

Account Minimum: $0

Monthly Service Fee: $0

Debit Card: Yes

Mobile App: Yes

How Discover Compares: Key Benefits Of Discover

Here are some of the reasons that investors love Discover:

  • Great Rates: Discover has among the highest annual percentage yields for bank accounts in the industry, which means you can watch your money grow.
  • Account Minimum: You can open a Discover online savings account with $0.
  • Free ATMs: Discover provides access to over 60,000 ATMs.
  • Remote Deposit: Discover offers remote check deposit.
  • Customer Support: Discover offers 24/7 customer support.

Bottom Line: Is Discover right for you?

Discover offers among the highest annual percentage yields for online bank accounts, which means you can watch you money grow faster. With no monthly maintenance fees or minimum balance, Discover has built the reputation as a top bank.

One of the best benefits of Discover is access to over 60,000 ATMs. Discover also has no fees for official bank checks, expedited delivery of official bank checks, incoming wire transfers or deposited items returned.

With all online savings accounts, federal law limits electronic transactions to a third party or another account to six per statement cycle. However, you can make unlimited deposits.

Next Steps: How To Apply To Discover

You can open a Discover account online within a few minutes, and the process is simple.


Best Bank Accounts For 2018

Bank
Rates (APY)

Overview

Account Minimum:$0
Monthly Service Fee:$0
Debit Card:Yes
Mobile App:Yes

Details

  • One of the oldest online banks
  • Mobile app is compatible with Apple, Android and Windows phones
  • Real-time chat support
  • Access to over 43,000 free ATMs
  • No ATM fees at AllPoint ATMs, plus $10 / month reimbursement for other ATMs

Review

Overview

Account Minimum:$0
Monthly Service Fee:$0
Debit Card:No
Mobile App:No

Details

  • No transaction fees
  • Easy electronic transfers, wire transfers or deposit by check
  • One of the leading financial services companies

Overview

Account Minimum:$0
Monthly Service Fee:Waived, if balance of at least $30
Debit Card:Yes
Mobile App:Yes

Details

  • Offers remote check deposit
  • Access to more than 2 million ATMs
  • $0 fees for Synchrony Bank ATMs, $5 monthly rebate for other ATMs
  • $0 overdraft fee
  • Hotel discounts and rental car discounts available for balances over $10,000

Overview

Account Minimum:$0
Monthly Service Fee:$0
Debit Card:Yes
Mobile App:Yes

Details

  • $5 non-sufficient funds fee (much lower than other banks)
  • No maximum monthly deposit
  • No ATM network, but ability to make electronic transfers that link to your bank account

Overview

Account Minimum:$0
Monthly Service Fee:$0
Debit Card:Yes
Mobile App:Yes

Details

  • Not-for-profit credit union that you can join by meeting membership criteria, or simply making a $10 charitable donation
  • Access to 80,000 ATMs
  • $0 ATM fees for in-network ATMS, plus $20 / month reimbursement for other ATMs
  • 24/7 phone support

Overview

Account Minimum:$0
Monthly Service Fee:$0
Debit Card:Yes
Mobile App:Yes

Details

  • Extensive ATM network
  • One of the highest yields around
  • Strong customer service

Overview

Account Minimum:$0
Monthly Service Fee:$0
Debit Card:Yes
Mobile App:Yes

Details

  • Includes automatic savings tool
  • Extensive ATM network
  • Access to service cafes in select cities
  • Ability to set and track goals to save you money

Overview

Account Minimum:$100
Monthly Service Fee:$0
Debit Card:Yes
Mobile App:Yes

Details

  • One of the highest rates
  • Free online banking

Review

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Discover Banking Review
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