Discover Bank

Discover Bank Reviews

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About Discover Bank

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Founded in 1986, Discover is an online bank that is part of the Discover Financial Services family of companies. Well known for its credit cards, Discover also offers online checking and savings accounts as well as certificates of deposit (CDs) and money market accounts (MMAs). Despite being a fully online bank, Discover has 24/7 customer service. Customers can manage their accounts via the mobile app.

Pros & Cons

  • High APY
  • $0 account fees
  • 60,000+ no-fee ATMs
  • No in-person branches
  • No cash deposits

What is Discover Bank?

Discover Bank is the online bank division of Discover Financial Services. It offers savings accounts, checking accounts, CDs and money market accounts, as well as retirement accounts, personal and home loans, and credit cards. Discover does not offer special student or senior bank accounts, though the $0 account minimum and $0 account maintenance fee make it a good choice for students over the age of 18 and older adults.

Discover Bank is an FDIC-insured institution, meaning that deposits are insured up to $250,000 per customer. As an online bank, Discover does not have any physical branches for customers to visit, but its customer service is available 24/7, 365 days via phone.

How does Discover Bank work?

Discover Bank is available to all U.S. residents who are at least 18 years old. Opening a savings or checking account is simple, especially since you do not need to have a minimum opening deposit. To open an account, you will need to provide your personal information, such as your name, address, Social Security number and date of birth. If additional documents are needed, you can upload them securely on the site.

Once you have an online account, you can link it to other financial accounts to enable direct money transfers. Additionally, you can set up direct deposit for your paycheck, and when using this feature for your checking account, you can receive your check up to two days early.

Discover offers the latest banking technology for customers, including digital wallets that allow you to connect your bank account to Google Pay, Samsung Pay or Apple Pay. The Discover app can sync to your wearable device so you can check your balance and account activity with just a tap.

Additionally, with the Discover mobile app, you can manage your money and freeze your debit card instantly if you lose your card.

Discover Bank products and services

Discover Bank offers competitive online banking services, with high interest rates and minimal fees. It also offers an automatic savings feature, Auto Redemption, to make earning a high APY easier. The feature automatically deposits your debit card cashback bonus into your selected savings account each month. Below are some other products and features.

Checking account
Discover’s checking account comes with no account fees or insufficient funds fees. Customers can earn 1% cash back on up to $3,000 in debit card purchases each month. Discover has a network of over 60,000 ATMs across the country for no-fee withdrawals for customers.
High-yield savings account
With Discover’s savings account, you can enjoy zero fees on account maintenance, insufficient funds and excessive withdrawals. There is no minimum deposit requirement.
Certificate of deposit
You can choose from CDs that range in terms from three to 10 years without any fees. These high-yield CDs come with a guaranteed return but are also subject to early withdrawal fees. Minimum deposits start at $2,500.
Money market account
Enjoy the perks of a high-yield savings account paired with the convenience of a checking account with a money market account. Discover’s money market accounts do not have an account maintenance fee, insufficient funds fee or excessive withdrawal fee. You need a minimum of $2,500 to open a money market account, but you do not need to keep a minimum balance.

Discover Bank fees

Discover does not charge any account-related fees, though there are a few fees that customers need to be aware of. There is a $30 service charge for each outgoing wire transfer from your Discover account.

Withdrawing from your CDs early will also incur fees, which vary based on the CD term you have. The fees range from three months of simple interest to 24 months of simple interest. You will also pay a fee for using an out-of-network ATM.

Discover Bank FAQ

How do I add people to my Discover Bank account?

Discover online banking allows you to add authorized users, also known as joint account holders, to your account, as long as they are U.S. residents. You must fill out an authorization form that includes their personal information and signature.

Does Discover Bank use Zelle?

When you log in to your Discover savings or checking account, you can send or receive money through Zelle. However, if you are a new customer, Zelle might not be available to you because Discover has paused new enrollments to the platform at the time of publishing.

How do I withdraw money from my Discover Bank account?

Even though Discover Bank is an online bank, it is very easy to access your money. You can do an online transfer from your Discover Bank account to another financial account through the site or the mobile app. There are also 60,000 no-fee ATMs across the country. Additionally, online bill pay and your debit card and checkbook make it possible to pay others.

Is Discover Bank legit?

Discover Bank is a legitimate and reputable financial institution that offers online banking with 24/7 customer service and no monthly fees. If you’re looking for an online banking platform that provides access to checking, savings, money market accounts and certificates of deposit — as well as other financial products —  Discover is worth considering.

Discover Bank Reviews

Stars Rating

  • 5%
  • 0%
  • 3%
  • 5%
  • 87%

Popular Mentions

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    • Our moderators read all reviews to verify quality and helpfulness.
    Page 1 Reviews 0 - 10

    Reviewed June 20, 2024

    Might want to think about banking somewhere else. Apparently Discover does not support fraudulent charges and will not help consumers with such issues. They are not even smart enough to suggest that if a charge is suspected to be fraudulent that maybe they should at least issue a new debit card. It's funny because Chase has no problem supporting their customers.

    Customer ServiceStaff

    Reviewed May 29, 2024

    Avoid. Avoid. Avoid. Please, avoid Discover for any business. I have had a credit and bank account with them for over a month and have not received any card. Customer service is an absolute joke and the managers are even worse! I have no access to my money from either Discover account and was cussed at by a "manager" for asking if anything could be expedited. I was told no, that FedEx will not ship cards; all they can do is cancel the FOUR cards (2 credit 2 checking) and send them again. It would be here in 7-10 business days. The customer service is filled with barking dogs, kids screaming, and the most rude, petty, and unempathetic people I have ever had to work with. Cancelled and closed it all. Good Riddance!!

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      Customer ServiceStaff

      Reviewed May 14, 2024

      Stay Away from Discover Bank and never use their services. They are a fraud. They refused to take payment for my credit card not once, but twice, taking my account to delinquency and reporting that to credit bureaus. Tory, a supervisor did not even share her last name telling me for security reasons she couldn't do that. The customer service is petty and I would not recommend anyone dealing with this bank. My credit score has been affected dramatically as my auto pay bank was changed, I tried to update my auto pay, it wouldn't go through, I made online payment, it wouldn't let me, I called on May 6th, the agent said she couldn't take payment over the phone either, because Discover wanted me to wait to be past due and have another charge waiting for my bank to refuse the auto pay, her own words. This is ridiculous. What a shame.


      Reviewed May 11, 2024

      My mother passed away and Discover Bank has made closing her accounts and getting her money transferred to her estate a nightmare. We submitted the documents they asked for, but they keep asking for more, or changes in what was sent. It has been months with no cooperation. Did not have these issues with any of the other banks and credit union accounts she had. Even selling her condo was easier than dealing with these people.

      Customer ServiceStaff

      Reviewed May 9, 2024

      A few years ago Discover Bank made a decision to suspend customers' ability to use Zelle. They then claimed to have reinstated Zelle but I have not been able to use Zelle through Discover while having access through all other financial institutions I use. Discover has been the bank I use for my direct deposit. I lost my debit card and attempted to transfer funds via Zelle to another account so I could have access to cash and to purchase vital items, like food. Lo and Behold, no Zelle is available. Not only that their customer service reps don't seem to know or acknowledge that it was Discover NOT Zelle that created this issue. The rep kept saying that Zelle has "secret" criteria, even when I stated I use Zelle with other banks. I then say, hey I need to move $$ because you don't have physical branches, and he suggests I do an ACH transfer which takes 2 to 4 days, in 2024 I am supposed to wait 2 to 4 days for $$.

      The direct deposit does not clear in account at a certain time, and now Discover is clearing withdrawals prior to deposits. There is nothing easy about this account. Even with the higher APY, Discover is simply a hassle to have. I don't know when I will have access to my $$ or have the ability to purchase food. Definitely was not a wise choice on my behalf to have my check be deposited with them. They are a good backup account but not a main one.

      Punctuality & Speed

      Reviewed May 8, 2024

      I have a single late payment on my Discover card that I have had for years due to me being in the hospital, they won't help me remove this and now my score has dropped and can't get my house, if I wasn't relying on my cards to hold up my score I would close this out. BAD COMPANY

      Profile pic of the author.

      Reviewed Feb. 28, 2024

      They will keep charging closed account as long as you will tolerate it. This bank is a total loser. Capital One bought it, but they are going to keep the Discover credit cards separately. Completely understand. Their credit cards is a mess. I transferred the balance, paid off whatever left and closed the account. Now, received $25.13 bill to pay the interest. Which one? everything was paid off a month ago and the credit card was shredded. To my great sadness, they don't remove my name from their database and they don't remove my account online. I called and asked the agent to make a note that if one more time I receive any charge taken from the ceiling, I will report them.


      Reviewed Feb. 8, 2024

      A merchant made a fraudulent charge on my card and Discover did nothing about it except for Doct me for that amount. After multiple communication with supporting documents, discover charge me for the amount versus taking it from a big box retailer.

      Riny increased rating by 2 stars.
      Customer ServicePrice
      After a positive interaction with Discover Bank, Riny increased their star rating on Feb. 8, 2024.

      Updated review: Feb. 8, 2024

      There was a misunderstanding with my account on my end and I apologize the review that was made previously.

      Original Review: Feb. 7, 2024

      Do not put your money there! The saving account that I opened few months ago back in late 2023 was hacked and they can't do anything about it. When I first opened the saving account, I put a lump sum amount due to their interest rates are great. I had to wire transfer money from my other bank account over to theirs using Discover system. I have had a good quite amount of interest built toward my account. Earlier this year, I noticed that there was a wire transfer made consecutively over to the bank where I originally transferred the money from without my authorization!!! When I called Discover customer service, I was told that the transfers were made to my other bank account but under a different name!!! My 5k was vanished just like that by someone within the Discover bank hacked my account and they couldn't do anything about it! Just like that!

      After two week of back and forth with the customer service and the dispute and fraud departments, I didn't get my money back even though they acknowledge that my money went under a different name!! How stupid is that! They know my money was transferred to someone else under different name using the same bank where I originally transferred the money from to open up a saving account with Discover. Bottom line, I am here to warn you to take your money out of this bank and I will fight them till I get my money back!!!

      Customer ServiceStaff

      Reviewed Feb. 4, 2024

      Over the course of a year, I have used Discover Bank for four CDs. During this time, two have come up for renewal. Their online renewal procedure is confusing; and ultimately, I was forced to use secure messaging to handle the situation. I received two responses that were contradictory. Given I was doing the exact same thing for both CDs, the action should have been the same. I was forced to call. I had to speak with three different people until I thought the situation was handled. When the actual renewal date arrived, nothing was happening, so I called again. I was told it would be expedited. I thought everything was fine, until I realized several weeks later that a duplicate action had taken place. I was forced to call again.

      The representative said I was correct that an error had been made, but it was all my money, so deposit it. I felt I couldn't trust Discover at this point. She said she spoke with the supervisory team, and they wanted to talk with me. They were backed up, though, so they would call me. That team/person never called me. I sent a secure message, stating I wanted a supervisor to call me, as promised. The secure message response was, the representative didn't enter the request properly, so no one was going to call me. Unfortunately, I had a horrific situation with Discover Bank when I tried to open a savings account with them, also. That should have been the writing on the wall. So now that I have bad experience, after bad experience and I might add, no apology or acknowledgement of their mishandling the situation, I am done. I absolutely do NOT recommend anyone place their money in the hands of this company. Discover Bank can't be trusted to do business correctly and honestly.

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      Discover Bank Company Information

      Company Name:
      Discover Bank