According to Discovers Overdraft Protection Service Agreement Addendum, they deny debit card purchases if the checking balance isnt large enough. You also have the option to opt-out of these cookies. Discover has been offering a $150 bonus or $200 bonus when opening a new Online Savings account since late 2017. On top of earning a competitive rate, Discover is offering a chance to earn a $150 or $200 bonus. These cookies will be stored in your browser only with your consent. In the past the bonus has posted 515 days after the deposited has been received but recently it has been taking much longer. Applying for either the $150 or $200 Online Savings account bonus must done online or by phone, using code BP122. 4 Tricks for Budgeting on a Fluctuation Income, Expedited delivery for official bank checks. With no direct deposit requirement, both Discover bonuses are a very good deal, particularly in the current rate climate. Bank Accounts That Can Be Funded With A Credit Card, List Of Methods Banks Count As Direct Deposits. How To Use Our Direct Deposit Page For Bank Bonuses Page, Common Bank Bonus Misconceptions + Why You Should Give Them A Go. We do not feature all available credit card offers or all credit card issuers. APY may change before or after the account is opened. For more information regarding the Discover Bank Mobile Check Deposit Service, click here. Huntington Bank Unlimited Plus Business Checking, Huntington Bank Unlimited Business Checking, Apply for your first Discover Online Savings Account through BankCheckingSavings.com by 09/15/2022. Rates were obtained from Curinos, who relies on the data from the banks it tracks and such information cannot be guaranteed. Check on your savings account easily. $150 bonus fund with at least $15k by June 17, 2019. Quick note: The bonus usually isnt extended as such, but a new deal with a new promotion code comes along and we just use the verbiage extended. For those who keep a small balance in their checking and prefer using debit cards, this checking account might be for you. We dont 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. Easy $200. In theory, saving money is easyjust cut back on the amount you spend on impulse buys and voila! The worst part is I never originally got the bonus because I had issues transferring the money to them. Finally, verify information and electronically sign your application. Annual Percentage Yield (APY). $2,500 minimum balance to avoid the $10 Minimum Balance Fee. Whatever makes it easier for you to get going on your goals. Check our list of the best savings and checking account bonus offers for a bonus thats right for you. New promo code is GOBR622, Update 1/3/22: There is also a direct link working again. There are no liquid accounts or CDs that currently return $150 or $200 in 30 days. Deposited $1000 in each account. If you exceed these transaction limitations during any calendar month, we may refuse to pay each transaction in excess of the limitations. Ive tried to get Discover to agree to give money to charity instead of paying out affiliate commissions but they never respond. *See advertiser website for full details. You must now open it by02/28/18 and deposit by03/14/18. Check out our Discover Bank Bonuses page for all the latest products such as Money Market, CDs, Checking, IRAs, etc. Please enter an amount between $2,500 and $5,000,000. While there is no Excessive Withdrawal Fee for certain types of withdrawals and transfers beyond the six allowed per month. The Discover savings bonus has been extended again until April 2nd, 2018. But opting out of some of these cookies may affect your browsing experience. They may ask your to verify some information on your credit report such as old addresses or loans. Bonus will be credited to the account by 11/4/19. The $200 offer now requires a deposit of $25,000 instead of $20,000. Update 9/24/21: Hello old friendthis deal is finally back again. Terms Of Use. $200 bonus fund with at least $25k* within 30 days of account opening. Note: We are currently. Asking as it takes days for the money to post in my other bank. css";if(!document.getElementById(c)){var d=document.getElementsByTagName("head"). 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. Do you think it matters which account you transfer the initial $1000 into? Ive been told theyre working on their long hold times for this department, and usually it is a lot quicker, but this is just my experience as of now. Fund your first savings account with a minimum deposit of $25,000 within 30 days of account open date. In addition, you can also earn a generous bonus by meeting certain requirements! This website uses cookies to improve your experience while you navigate through the website. If you are looking for even higher interest rate for long term investments, then check out Discovers CD rates instead. Make a deposit now or come back and do it later. You can take out the $200 as soon as credited. Then they unlocked the account after this quick 10 minute conversation. I opened an account maybe 6-7 years ago and all traces of it have purged, but it tells me Im not eligible when putting in the code. And withdraw all money to my bank at the end. Im curious if you had a name change (like through marriage) since your previous account? Your email address will not be published. Keep in mind that if you do use our links, you wont be able to earn cash back/miles/points from shopping portals. Or does it need to go into checking first? Competitor APYs are subject to change at any time. Chase Bank Coupons, Bonuses, & Promotions. This is another NerdWallet link and they will get comission if you use it. By continuing, you agree to their use. Update 03/27/18 : Deal has been extended until05/04/2018. What would you do if you were laid off from your job today? I told them I was the one who initiated the actions and they didnt ask further, I still have the bonus). Please refer to our financial overview of Discover Bank (FDIC Certificate # 5649) for more details. Using a savings account can increase your propensity to save. Just give us a few basics (like address and Social Security number), and well get the ball rolling for you. What a waste of my life, at least I have access to my funds now. Outgoing limit is $250,000 per 30-day rolling period for each Account Center registered owner. They may ask your to verify some information on your credit report such as old addresses or loans. Despite their system still having remnants of my old account in it (I had to call in to get the address changed so the application would process) I received the bonus on this new account. Applies to personal accounts only. The APY for the Online Savings Account as of, 6 Benefits of a Discover Online Savings Account, A Step-by-Step Guide to Prepare Your Budget for a Layoff. Whether youre saving for a new set of wheels like Stous and his wife, a home down payment, an emergency fund or [enter your next big financial goal here], an online savings account could be your ticket to success. 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. In the interests of our readers you can find out what shopping portal is offering the best rates on eBay here&Amazon here. Promo code OR222. No minimum deposit to open. However, this bonus offer is available for a limited time. Based on old emails it looks like it was an Online Savings account. Discover IRA Certificate of Deposit account, Huntington Bank Unlimited Plus Business Checking, Huntington Bank Unlimited Business Checking, Must be a new Discover Bank Online Savings Account customer. Hat tip to reader. Easily deposit a check into your account by snapping a photo of it with your smartphone or tablet. If you have excess funds sitting in your checking account, start earning interest on your funds. These cookies do not store any personal information. 7/6 $2k transfer posted 7/6 transferred between checking and savings 13x 7/7 $150 + $50 posted to savings, DP on churning: I had a previous Discover bank account that was closed about 10-12 years ago. Withdraw to my bank too. Signed up 7/3, grabbed both savings and checking account. (In early 2017, the bonus was only $100.) 10/19/21: Cumulative deposits seem to still be working, as always still a risk. Obviously no guarantee they will continue to do so. [0],i=document.createElement("link");i.id=c,i.rel="stylesheet",i.type="text/css",i.href=t+"static/widget/myFinance.css",i.media="all",d.appendChild(i)}}var To or from other banks and Discover, please allow up to 4-5 business days. You can even skip the passcode and log in with touch or face ID. The Big List of Credit Unions Open to Anyone, Difference Between Banks and Credit Unions, Do I Have to Pay Taxes on Bank Account Interest, Best Savings and Checking Account Bonus Offers. Should I Choose a Checking Account or Savings Account? The current promotion runs through March 15, 2022, and is available to new customers only: existing or prior Discover savings customers are not eligible. Discover Banks Online Savings Account rate increased 10 bps this morning to 1.75% APY. The system had my nickname so my application failed at first, but the phone support was able to update my old info in the system to match my current info and then it worked. Very thankful for the second agent that actually helped. Contact Anthony for media/advertising. Would this method work if I were to open a Discover checking and transfer back and forth until I hit $25k? Earning $150 in an online savings account (current top rate of 0.65% APY) would require about $23k on deposit for a year. They disconnect you after 3 hours, and I got through last night only to be immediately disconnected because it took me longer than 1 second to respond to the agent. $150 bonus fund with at least $15k* within 30 days of account opening. That being said I want my readers to have the best choice possible so thats why Im adding it. Is Opening A Bank Account A Soft Or Hard Pull? You must, at minimum, leave the account open until the bonus posts, or November 30, 2017. Check your email for a confirmation, and youre on your way to the future youve been dreaming of. Update 10/09/18: There is a new working link and code. I personally recommend Discover as their customer service is top notch. Your email address will not be published. Incoming limit is $250,000 per 30-day rolling period for each Account Center registered owner. Discover Bank Online Savings $150/$200 Bonus + 1.20% APY, Discover Checking Account Up to $360 Bonus. ); 5% Back On Instacart & Chase Travel, Wells Fargo New Autograph Card Now Live 30,000 Points (PC Available), (Ends Tomorrow) Chase Marriott Bonvoy Boundless FIVE Free Night Certificates (Up To 50,000 Points Each) Bonus, Capital One Launches New Premium Business Card Spark Travel Elite With 250k Bonus, Chase IHG Rewards Premier Card: 140k Points + 40k Free Night Certificate, https://www.discover.com/online-banking/savings-lng-04/?TPR=062&cmpgnid=ps-bk-ggl-bnd-pros&src=GBP622&van=Dbank&gclid=Cj0KCQjwntCVBhDdARIsAMEwACkHBWFNzStGfm5zTIir8KiP1W4brwqXRZ-3IpRfi1iKl1UwpnynBCcaAqljEALw_wcB&gclsrc=aw.ds. The Online Savings account has no minimum opening deposit requirement. Discover Bank does allow large ACH transfers to be initiated from its online account center. Affiliate Links & Bank Bonuses We Wont Be Using Them, Complete List Of Ways To Close Bank Accounts At Each Bank, Banks That Allow/Dont Allow Out Of State Checking Applications, New Chase Instacart Mastercard With $200 Bonus Credit (No Spend Req. Sadly I think this is an exclusive offer to NerdWallet and they get paid if you use this link. This time good for applications through February 4th, 2019. Bonus is interest and subject to reporting on Form 1099-INT. The deposit requirement increasing to $25,000 shouldnt matter too much as it looks like cumulative deposits work anyway. Enter offer code OR222 when applying, AND, Deposit a total of at least $15,000 into your account within 30 days to earn a $150 Bonus, OR. See advertiser website for full details. Instead of earning interest, you can only earn cash back rewards from your debit card purchases. I left $1 the account. Bonus will be credited within 30 days of the account qualifying for the bonus. The APY for the Online Savings Account as of XX/XX/XXXXis more than five times the national average APY for interest bearing savings accounts with a balance of $500 as reported by Curinos as of XX/XX/XXXX. The limits above are subject to a combined incoming/outgoing limit of $300,000 per 30-day rolling period for each Account Center registered owner. There is no chat or email support. Deposited 20k and bonus was paid in 2 days. Find all there is to best savings rates from our exclusive list nationwide! Star rating is representative of the Apple App Store rating for the Discover mobile app and is updated daily. Bonus is considered interest and will be reported on IRS Form 1099-INT. Fund your first savings account with a minimum deposit of $25,000 within 30 days of account open date. Cumulative deposits seem to still be working, According to this datapoint cumulative deposits will work, A Beginners Guide To Bank Account Bonuses, Bank Account Quick Reference Table (Spreadsheet), Banks & Credit Unions That Are ChexSystems Inquiry Sensitive. Outgoing wire transfers are subject to a service charge. This website uses cookies to improve your experience while you navigate through the website. You can write a letter or call in. Assumes principal and interest remain on deposit and interest rate and APY do not change. In addition, it raised the rates by 10 bps of both tiers of its Money Market Account. Applies to personal accounts only. I bet Discover does a lot of repeat business. In the past year, Discover Bank has increased its total non-brokered deposits by $44.3 million, an average annual growth rate of 0.07%. You can withdraw any funds you wish after fulfilling the $25,000 (or $15,000) deposit requirement. You will be earning a great, competitive APY rate with your new Discover Online Savings account. Fund your first savings account with a minimum deposit of $15,000 within 30 days of account open date. Hat tip to chooseyourusername17. Open a new Online Savings account by March 15, 2022. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. This one is definitely not an affiliate link of any type. This means NerdWallet wont get paid when you use this code. 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. (they lock your account if you initiate a withdrawal), Yep. Fund your first savings account with a minimum deposit of $15,000 within 30 days of account open date. Withdrawals at over 60,000 ATMs nationwide, Expedited delivery for debit card replacement. Reposting on November 2nd, 2017 because the offer has been extended. $150 and $50 bonuses post for both accounts on 6/28. Im surprised it even let you do it. It seems like theres a lot of people trying this method with no problem to their accounts, so maybe theres some other factor that I got unlucky in to get my account locked. Eligibility is based on primary account owner. These cookies do not store any personal information. DO NOT OPEN AN ACCOUNT HERE. This link (https://www.discover.com/online-banking/savings-lng-04/?TPR=062&cmpgnid=ps-bk-ggl-bnd-pros&src=GBP622&van=Dbank&gclid=Cj0KCQjwntCVBhDdARIsAMEwACkHBWFNzStGfm5zTIir8KiP1W4brwqXRZ-3IpRfi1iKl1UwpnynBCcaAqljEALw_wcB&gclsrc=aw.ds), which I found via a google search, shows the same expiration date of 9/15/22, but with a code of GBP622 . Youre saving cash left and right. By continuing, you agree to their use. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. Dont qualify for the Discover bonus? The fine print on the landing page concerning who is eligible for an Online Savings bonus has changed and reads as follows. Simply open a new Online Savings Account by 09/15/2022 using promo code BCS622. The above information and rates are accurate as of 1/12/2022. t="https://www.myfinance.com/";document.attachEvent?document.attachEvent("onreadystatechange",function() Discover Banks Online Savings Account rate increased 10 bps this morning to 2.00% APY. To qualify to open an account of any kind with Discover Bank. Advertised Online Savings Account APY is accurate as of XX/XX/XXXX. 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 category only includes cookies that ensures basic functionalities and security features of the website. Account must be open when bonus is credited. 6/22 Open Account, deposit $3000 6/24 $3000 posted. You can send them a check or transfer funds from an existing bank account. Ill review the Discover Savings offer below. No way to churn the Discover Savings bonuses is that correct? Opened account with wife's as primary account holder. While you cant always control when you get paid or the size of each paycheck if youre a freelancer, contractor or work in the gig economy, you can take control of your money by creating a budget that will help you manage these financial extremes. Discover Bank has been offering bonuses on new Online Savings accounts for several years. Open an account today! APYs are subject to change at any time. Disclosure: This post may contain references to products from our advertisers. Account must be open when bonus is credited. Each Account Owner must be a U.S. citizen, U.S. Resident Aliens or other U.S. person at least 18 years old and have a valid taxpayer ID and physical U.S. address. According to the Account Center Banking agreement. We appreciate your support. Terms of Use, This post may contain references to products from our advertisers. Bonus will be credited to the account within 30 days of the account qualifying for the bonus. Originally posted on September 19th, 2017. 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. Update 10/8/19: Deal has been extended until 11/4/19. Offer has been extended again. The number of certain types of withdrawals and transfers from savings and money market accounts is limited to a combined total of 6 per calendar month per account. Update 1/7/20: Deal has been extended until 2/3/20. This website uses cookies to improve your experience. script"),a=t+"static/widget/myFinance.js";e.type="text/javascript",e.async=!0,e.src=a,n.parentNode.insertBefore(e,n);var c="myFinance-widget- But in reality, it gets a little more complicated. Assumes principal and interest remain on deposit and interest rate and APY do not change. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Therefore, exceeding these limitations on more than an occasional basis will not result in the closure of your account. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); !function(){function e(){var e=document.createElement("script"),n=document.getElementById("myFinance-widget- *Outgoing wire transfers are subject to a service charge. Yes, it will absolutely work. Discover Bank is currently the 32nd largest bank in the country, with assets in excess of $106 billion, more than 6.6 million customer accounts, and 415,000 ATMs spread across the United States. We are not affiliated with the financial institutions included in this website. Non-APY comparison conducted by an independent research firm and based on data compiled in May 2022 from company websites, customer service agents, and consumer savings account offers. If you exceed these limits on more than an occasional basis, we reserve the right to close your Account. Update 6/5/19: Deal has been extended until July 1st, 2019. New promo code isNW518. Rates were obtained from Curinos, who relies on the data from the banks it tracks and such information cannot be guaranteed. Interest is compounded daily and credited monthly. You might also just be able to use promo codeSAVE718E1 orSAVE718E2 and it should work. Personally I hate NerdWallet because I find they suggest inferior offers on a regular basis but this Discover Savings bonus is a great deal. Update 05/18/18: Gadget & rediff found a new working code:SAVE518E1. Amount is cumulative interest earned over duration of time chosen. Update 3/5/19: New code and now valid until April 1st, 2019. Finally got access to my account after 2 weeks of trying to contact them since they locked it for verification. Never had a problem with them. Who knows when Ill ever get the money I deposited. Filed under: Bank Bonuses, Discover Savings Bonus. We have financial relationships with some of the products and services found on this website, we may be compensated if you choose to utilize any of these links when applying. Deposit a total of at least $25,000 into your account within 30 days to earn a $200 Bonus. The values shown are for illustrative and informational purposes only and may not apply to your individual circumstances. Transfers between Discover accounts are instant. It has no fees and a relatively high interest rate among other savings accounts. What Banks & Credit Unions Do/Dont Pull ChexSystems? We also use third-party cookies that help us analyze and understand how you use this website. The basic questions the 2nd agent asked me actually made sense and the talking with the patronizing 1st agent was genuinely upsetting and frustrating, so I dont know why the first agent didnt ask me these questions instead and save myself 2 weeks of frustration. Discover Bank is the latest of the large internet banks to raise their savings account rate to 1.75% APY. Update 11/03/2018: There is a new working link and code. Update 6/21/22: Deal is back and valid until 9/15/22. Could I deposit it into the savings account first and still have the same result? Maybe that was it? Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Luckily, there are ways to make saving less daunting. Privacy Policy. The customer service is non existent. If you exceed these limits on more than an occasional basis, we reserve the right to close your Account. Competitor APY comparison information obtained from Curinos, as ofXX/XX/XXXX, using savings account APYs. Update 12/04/2018: There is a new working link and code. The time and pain this has caused me was not worth the 200 dollar bonus at all, I hate Discover bank. This service makes it easier to keep a higher balance in a savings account (rather than in a checking account) so it can earn more interest. Necessary cookies are absolutely essential for the website to function properly. Your email address will not be published. As stated on Discover's promotion page, the bonus requirements are as follows: *The fine print on the promotion page reads, Deposit into your account a total of at least $15k/$25k, implying that multiple deposits can be used to meet the $15k or $25k threshold.