Does Discover have an online savings account?

Does Discover have an online savings account?

Your Online Savings Account can be with you at all times. To or from other banks and Discover, please allow up to 4-5 business days. 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.

Is Discover online savings account safe?

Your deposits with Discover Bank is safe and protected by FDIC insurance (FDIC #5649). FDIC insures your deposits up to $250,000. Discover uses state-of-the-art encryption to protect your transactions and data.

What is Discover online savings rate?

Discover Online Savings Account APY The current APY is 0.50%. Users of the Discover Online Savings Account can start earning interest right away, with no minimum balance required in their account. Interest on your savings compounds daily and is paid out monthly.

Does Discover card offer a savings account?

Discover Bank® checking lets you earn cash back when you make qualifying debit card purchases each month, and it provides free access to a broad ATM network. The online bank also offers a strong high-yield savings account.

Can I withdraw from Discover savings?

You can withdraw money from your Savings Account in the following ways: Online transfer to another Discover Bank Account or to an external bank account. Domestic Wire Transfer (a service charge applies) Request an Official Bank Check.

How do I deposit money into my Discover savings account?

Here are your deposit options:

  1. Deposit a check with Discover’s Mobile Check Deposit using your mobile device.
  2. Complete an online transfer from an eligible Discover Bank Account.
  3. Complete an online transfer from an external bank account.
  4. Set up Direct Deposit.

Does discover savings have a minimum balance?

The Discover Online Savings Account is a competitive online-only high-yield savings account, paying 0.40% APY with no minimum balance required.