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Discover Bank doesn't offer very many promotions for its online bank accounts. However, it’s an excellent bank with low fees and useful features. We’ll show you how to earn any available Discover Bank bonuses.
Discover Bank: Online Savings Account – $150–$200 [AVAILABLE VIA GOOGLE]
How to Get the Bonus
This bonus is only available when found as a paid ad through Google search. You may be able to find this bonus when searching Google for "Discover bank bonus."
- Apply for a Discover Online Savings Account by June 13, 2024. You must find the offer as a sponsored ad through Google search, and apply through that page.
- Deposit at least $15,000 or $25,000. You won’t need to make this deposit right away, but you’ll need to get it done within 30 days in order to be eligible for a bonus. Deposit $15,000 to earn the $150 bonus, or deposit $25,000 to earn the $200 bonus.
- Earn your bonus within 60 days. You’ll need to keep your account open until you receive the bonus as a deposit into that account. Other than that, there are no requirements to earn the bonus.
If you have a large emergency fund, that would be a prime tool to earn this bonus. If you don’t have one saved up yet, it’s never too late to get started.
Bonus Restrictions and Account Fees
- This bonus is only available when found as a paid ad through Google search.
- The offer is only available to people who have never had a Discover savings account before, including savings accounts that are co-branded and offered through other outlets.
- If you don’t meet the requirements, you may still be eligible for the bonus if you open a joint account with someone who actually does qualify, as long as you list them as the primary account owner.
- Discover Bank doesn’t charge any fees for its Online Savings Account except for a $30 outgoing wire transfer fee.
Important
If you decide to transfer your money back out after earning the bonus, make sure to close your account to avoid any potential fraud risks.
Discover Bank: Cashback Debit Account
- Rewards: 1% cash back
- Monthly fee: None
- Fee-free ATMs: 60,000+
Pros & Cons
Pros
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No fees at all, including no NSF fees
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1% cash back on debit card purchases
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Zelle for fast and easy person-to-person payments
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Free check supply with unlimited refills
Cons
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No APY
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No ATM fee refunds—only free transactions at in-network ATMs
Who Is Discover Online Banking Best For?
Discover Online Banking should be a good fit for those seeking a digital bank that offers a suite of different services. It might be a particularly good fit for those who:
- Prefer paperless, digital transactions
- Hate paying fees
- Typically use their debit card for day-to-day transactions
- Prefer to bank with an established "name" financial institution
Compare Discover Bank Promotions
| Promotion | Bonus Amount | Promotion Expiry | Qualifications |
| Online Savings Account (Only available via Google search) | $150 or $200 | June 13, 2024 | Deposit |
Frequently Asked Questions
Does Discover Have Any Promotions?
Discover isn’t offering very many promotions for its bank accounts right now—see the above list. See our picks for the best back account bonuses to explore other options.
Are Discover Bank Bonuses Taxable?
If you earn a bank bonus from Discover or any other bank, that bonus is taxable just like the interest you earn on a savings account. At the end of the year, Discover Bank will send you a Form 1099-INT that you can use to file your taxes.
Are Discover Bank Accounts Worth It?
Yes, Discover Bank has excellent online bank accounts. Its Online Savings Account charges zero fees (aside from a $30 fee to send wire transfers) and often offers a high interest rate on your savings.
Read the original article on Investopedia.