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800-347-7000
502 East Market Street
Greenwood, DE 19950

Discover Bank functions as an Internet bank with no retail branches. In addition to its trademark credit card offerings, it features a range of depository banking and loan products. Discover’s deposit rates are usually competitive with other Internet banks on Savings, Checking, Money Market, CD, and IRA CD accounts because of the lack of infrastructure costs associated with physical locations and branches.

Discover Bank offers checking, savings, CD, and Money Market accounts on its depository banking side. It offers three different types of personal checking accounts and one business checking account. Its personal checking accounts feature an interest-bearing account, a standard checking account, and a 55+ account. It offers a competitive online savings account that usually offers one of the top interest rates in the depository banking market. It offers Certificates of Deposit for terms ranging from 3 months to 10 years, which can be funded online from any existing bank account. It also offers a Money Market account that pays interest at rates similar to its savings account offerings.

Discover offers multiple web-based platforms to its customers that facilitate easy account management. Through the Discover smartphone app, customers can transfer funds, pay bills, deposit checks, and monitor account balances. Discover online banking offers a sophisticated platform through which customers can manage their accounts and get help from online banking specialists.

Discover Bank’s headquarters are located in Greenwood, Delaware, just blocks away from where it originally began as the Greenwood Trust Company. Since acquiring the Greenwood Trust Company in 1985, Discover has grown to be one of the largest financial services firms in the country. It provides its customers access to cash at over 750,000 ATMs worldwide through its Discover and PULSE ATM networks, including over 415,000 ATMs across the United States. The firm receives awards yearly for different aspects of its business from customer loyalty to workplace environment.

Related Posts

Discover Bank Boosts Long-Term CD Rates - 12/26/2015

Discover Bank has raised the rates on its 5-year CD (2.20% APY) and 7-year CD (2/25% APY). Minimum deposit is $2.5K, with no balance cap. Also available as IRAs.

Cashback Checking $300 Bonus - Ends November 15, 2015 - 10/21/2015

Discover Bank has $300 bonus promotion for current Discover credit card or deposit customers when they open a new CashBack Checking account.  This is a targeted offer, so check your email and snailmail.   Ken wrote about this promotion in January - it was only $50 at that time. https://www.depositaccounts.com/blog/2015/01/discover-banks-cashback-checking-bonus-existing-customers.html You must have two direct deposits of $250+ within 90 days of opening the account to qualify for the $300 bonus.  The bonus will be credited to your account within 30 days of completing the requirements. I couldn't find anything on Discover Bank's website about it, but Customer Service confirmed the bonus availability when I called. [URL="https://www.discover.com/online-banking/checking-lp-lng-01/?cmpgnid=dm_chk_S00000E47_Bonus4915&src=S00000E47&cde=S00000

Rate Increase For Online Savings Accounts - 6/25/2015

Online Savings: Was 0.90% Now 0.95%

View all posts from:

10/30/12 - Small New-Account Bonus for Discover Bank CDs & Savings Account
9/27/12 - Discover Bank's Competitive Long-Term CD Rates
9/18/12 - Comparison of Long-Term CD Rates After Early Withdrawal Penalties - September 2012
8/7/12 - Comparison of Long-Term CD Rates After Early Withdrawal Penalties - August 2012
7/26/12 - Discover Offering Some Credit Card Customers Its Premium Savings Account
6/5/12 - Comparison of Long-Term CD Rates After Early Withdrawal Penalties
5/8/12 - 5 Top Long-Term CD Rates After Early Withdrawal Penalties
3/28/12 - BJs Gift Card $75
3/25/12 - Discover Plans To Add Mortgages, Checking Accounts
3/22/12 - Updated Comparison of Top Long-Term CD Rates After Early Withdrawal Penalties
2/28/12 - More Rate Drops At Discover Bank
2/27/12 - Comparing Top Long-Term CD Rates After Early Withdrawal Penalties
1/16/12 - What to Do with Maturing CDs? Choosing the Best New Long-Term CD
1/11/12 - Discover Bank Rate Drop
12/21/11 - Long-Term CD Rates Continue to Decline
12/6/11 - Comparing the Best CD Rates After Early Withdrawal Penalties
9/23/11 - Discover Veers Away From M&A
9/20/11 - Disover Bank Rate Drop
9/15/11 - Best Long-Term CD Rates After Early Withdrawal Penalties
9/8/11 - Comparing Rates of Long-Term CDs After Early Withdrawal Penalties
8/23/11 - Long-Term CD Strategy Review with an Updated Comparison of Ally & Discover Bank
8/2/11 - A Rate Drop At Discover Bank
6/27/11 - Comparing CDs from Ally and Discover Bank
5/31/11 - Tips and Warnings When Closing a Discover Bank CD
4/21/11 - Bjs Member Bonus
4/13/11 - 1.20% AAA Online Savings
4/12/11 - Another Rate Drop At Discover
3/21/11 - The Best CD Rates and the Smallest Early Withdrawal Penalties
3/2/11 - Higher Rates for AAA Members at Discover Bank
2/7/11 - How Rates Have Held up at the Largest Internet Banks
2/1/11 - Discover Bank Savings Rate Drop (3672)
11/29/10 - Discover Bank Checking
10/29/10 - Comparing the Online Savings Accounts from the Major Credit Card Companies
10/26/10 - Discover Bank Savings Rate Drop
10/15/10 - Update on My Short List of Top Online Savings Accounts
9/29/10 - Ally Bank to Offer IRA CDs - How It Might Compare to Discover Bank and PenFed
9/22/10 - Discover Bank Cuts CD Rates
9/6/10 - One Downside With Discover Bank - No CD Disclosure Available Online
8/29/10 - Comparing Long-Term CD Rates at Discover, Ally and PenFed
8/26/10 - Rate Leaders Cutting Long-Term CD Rates
8/15/10 - The Advantages of Discover Bank's Long-Term CDs
8/10/10 - Discover Bank's Premium Savings Account
7/30/10 - Discover Bank Savings Account and CD Review - Available Nationwide
3/14/10 - Discover More Card $75 Cashback Bonus
2/25/10 - The Best Savings Account with a History of Top Rates
2/24/10 - Update on ETrade Bank and the Transfer of Customers' Savings Accounts
2/12/10 - Discover Bank's New Account Center with Improved Transfers
2/9/10 - ETrade Complete Savings Accounts to Become Discover Bank Online Savings Accounts
2/1/10 - Discover Bank's Savings Account Rate Cut and Other News
12/22/09 - Update on My Short List of Top Savings Accounts
11/5/09 - $25 Bonus On Discover Bank's CDs - Nationally Available
8/16/09 - $25 Bonus On Discover Bank's 2% 12-Month CD - Nationally Available
8/2/09 - Short List of the Top Online Savings Accounts
7/29/09 - Discover Bank's CD Promotion for Discover Credit Card Customers
7/1/09 - Discover Bank's New Limited-Penalty-Free CD and its New Online Savings Account
2/12/09 - Competitive CD Rates and a $50 Bonus at Discover Bank - Nationally Available
8/14/08 - Discover Bank Increases CD Rates - 5.28% 60-Month / 5.02% 48-Month
7/2/08 - Discover Bank Raises CD Rates, 5.17% 60-Month / 4.02% 12-Month CD
6/18/08 - Discover Bank's CD Rates Up To 5.02%
5/29/08 - 4.86% 60-Month / 4.08% 24-Month CD at Discover Bank
2/25/08 - Discover Bank's AAA Affiliated Money Market Account and CDs
2/10/08 - New Account Bonus ($20-$100) at Discover Bank

Discover Bank Is Great!

Posted by: GLB | Nov 6, 2015

I've had numerous accounts with Discover Bank, both regular CDs & IRAs. Their interest rates far exceed almost all other financial institutions & they're super easy to work with. I have another IRA maturing from another bank, who will be offering .02% for a 2 yr term if I renew with them. Discover Bank is offering 1.30% for the same term.
On another note, I was able to get a credit card with them over the phone, no application necessary - they're just great -

Perfect Bank for me

Posted by: Kdunn1994 | May 27, 2016

I have been a discover customer for over 3 years and about a year and about a year and a half ago they extended an offer to me to join their cash back checking program and $50 free to join. So I figured I had nothing to lose and took the plunge. I quickly received my new cash back debit card which pays me 5 cents every single time I swipe my card, and next I set up my direct deposit through my work. Everything was well organized and maintained. I was a little worried about now having access to a physical bank and although that bugs me a little it's not all that bad because they give me a list direct through the discover app that has the closest ATM if I ever need to pull out cash. I know discover isn't accepted everywhere but I have yet to find a store that has turned me down while using my discover card, but just in case I have a backup bank account with a visa checking. Overall a great bank, not perfect but very close in my opinion.

Discover Banking Sucks

Posted by: cjenkins | Sep 6, 2015

I've only had this account for about a month but I'm finding that it is not convenient for me.
I can't make cash deposits at the ATMs, if I make a transfer from another checking account it takes 5 days to credit, when I make check deposits on the mobile app it doesn't show pending activity so I have to wait 1 to 3 days to see it show up in my account, when I do make a mobile deposit I have to take the check photos about 5 times...very frustrating.
I'll never be able to close out my other checking account with my local bank with this type of service so why have 2 accounts. It just doesn't make sense to me.

Discover Bank's

I opened a discover saving account because of their competitive rate and I made several deposits into my account. Things are ok until when I need to WITHDRAW some of the fund to my US checking account. Not only discover bank interupted the transfer of 1700$. they procceed to freeze my account. I have provided personal identification to validate the transaction but their decision was to close the account due to "fraud". Ironically the one comitting fraud here is discover. Fine, I can take my business somewhere else. I then waited a whole month for my closing balance return to me and after several phone calls they claim they are working on it. The sad part is discover doesn't have a physical branch where you can walk in and force them to return the money. I hope I can get my money back in a small claim court case in saltlake city. at least they will have to appear in court.

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Health
A

Health Grade Components

Overall
FDIC Certificate #5649
Year Established1911
Employees10475
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD2.69%
Return on Equity - YTD23.03%
Annual Interest Income$8.20B
Assets and Liabilities
AssetsQ4 2015vs Q4 2014$85.75B$81.66B
LoansQ4 2015vs Q4 2014$70.51B$68.08B
DepositsQ4 2015vs Q4 2014$49.75B$46.10B
Equity CapitalQ4 2015vs Q4 2014$9.92B$9.49B
Loan Loss AllowanceQ4 2015vs Q4 2014$1.85B$1.73B
Unbacked Noncurrent LoansQ4 2015vs Q4 2014$692.3MM$667.6MM
Real Estate OwnedQ4 2015vs Q4 2014$60.00K$103.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Discover Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Discover Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.95%$500-Online Savings

Discover Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.85%*$100k*-Money Market
OTHER TIERS: 0.80% Up to $100k

Discover Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.30%$2,500-10 Year CD
2.10%$2,500-7 Year CD
1.85%$2,500-5 Year CD
1.76%$2,500-4 Year CD
1.50%$2,500-3 Year CD
1.35%$2,500-30 Month CD
1.30%$2,500-24 Month CD
1.20%$2,500-18 Month CD
1.15%$2,500-12 Month CD
0.70%$2,500-9 Month CD
0.65%$2,500-6 Month CD
0.35%$2,500-3 Month CD

Discover Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.30%$2,500-10 Year IRA
2.10%$2,500-7 Year IRA
1.85%$2,500-5 Year IRA
1.76%$2,500-4 Year IRA
1.50%$2,500-3 Year IRA
1.35%$2,500-30 Month IRA
1.30%$2,500-24 Month IRA
1.20%$2,500-18 Month IRA
1.15%$2,500-12 Month IRA
0.70%$2,500-9 Month IRA
0.65%$2,500-6 Month IRA
0.35%$2,500-3 Month IRA
Locations

Discover Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 502 East Market Street - Greenwood, DE 19950