Discover expanded from credit cards to full online banking, offering a compelling combination of high-yield savings, cashback debit, and seamless integration with Discover credit cards. No monthly fees across all products makes Discover Bank genuinely customer-friendly.
Discover Cashback Debit Checking
A unique checking account that earns rewards:
- 1% cash back on up to $3,000 in purchases monthly
- No monthly fees
- No minimum balance
- No overdraft fees (declines instead)
- 60,000+ fee-free ATMs
- Mobile check deposit
Earning cash back on debit purchases is rare—most banks reserve rewards for credit cards. This makes Discover checking valuable for those who prefer debit spending.
Discover Online Savings
High-yield savings with consistent rates:
- Competitive APY among top online banks
- No minimum balance requirements
- No monthly fees
- FDIC insured
- Easy transfers to external accounts
Discover savings rates stay competitive without promotional gimmicks, making it reliable for emergency funds.
Discover CDs
CD options with excellent terms:
- Terms from 3 months to 10 years
- $2,500 minimum deposit
- Competitive rates across terms
- Standard early withdrawal penalties
- 10-day rate guarantee
The 10-year CD option is unusual—most banks cap at 5 years. For those certain about long-term savings, extended terms can lock in favorable rates.
Discover Money Market
Combines savings rates with accessibility:
- High-yield rates matching savings
- Debit card for ATM access
- Check writing capability
- $2,500 minimum for best rates
Discover Credit Card Integration
Banking customers benefit from seamless integration with Discover credit cards:
- Single login for all Discover accounts
- Easy balance payments from checking
- Combined rewards tracking
- Unified customer service
The Discover it card's first-year cashback match pairs perfectly with Discover banking.
Digital Banking Features
Discover's app and website include:
- Free FICO score for all customers
- Spending analysis tools
- Mobile deposit
- Bill pay
- External account transfers
- 24/7 U.S.-based customer service
ATM Network
Without branches, ATM access is important:
- 60,000+ fee-free ATMs (Allpoint, MoneyPass, others)
- No Discover ATM fees ever
- Cash deposits via mail or select retailers
Customer Service
Discover emphasizes U.S.-based service:
- 24/7 phone support
- Online chat available
- Consistently high satisfaction ratings
- No phone trees—direct to representatives
Who Should Bank with Discover?
Discover Bank suits customers who want fee-free banking with earning potential, already use or want Discover credit cards, and are comfortable with online banking. The cashback debit account provides unique value for debit card users.
For in-person banking, pair Discover with a local account for cash deposits.
Open an account at Discover.com
