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Discover Bank Reviews

Average Rating:
Based on 72 reviews

Discover Checking Account

Posted by: Nunu72 | Feb 17, 2016

I had a bad experience with discover bank , I transferred funds to my discover checking account from another bank account , money was withdrawn and received by discover , as per there way of doing business they held the money for 4 days and within the 4 days a check got posted to my account and returned for insufficient amount while they had the funds on hold ,.. I spoke to a supervisor called Jesse and he explained even thou they got the funds but they have a legal right to return any payment posted to the account while they have funds on hold and cause customer extreme embarrassment and frustration .
Now that's not a friendly banking , that's a bad banking .

Unethical... False Advertising... Fraud...

Posted by: azrunner | Dec 18, 2015

Like another reviewer, I also opened a savings account under an offer that I would receive a bonus. However, the bonus never came, and I was also told it would take 8 weeks to research the issue. I did everything I was supposed to, but they cannot follow through on their end.

It should also be noted that it takes funds over a WEEK to appear in your account when you transfer funds between banks. So the funds disappear from one bank, are in limbo for at least 7 days, and then it shows up in your Discover account. Note that during that time, you are not earning any interest.

I am closing my account. This bank is terrible.

Stay Away From Discover Bank - They Don't Do What They Say

Posted by: Tim Foo | Oct 16, 2015

Stay away from Discover Bank. I did this offer 35 days ago and took screen shots to show everything went thru. 30 days later no bonus. Wrote to their customer service folks and the reply was:

“I am sorry to say, it appears your account was disqualified from the promotion. However, I have reviewed your account and I cannot find a reason for that disqualification. That being said, I have escalated this matter to our Promotion Specialists to be investigated. Our Promotion Specialists will determine what happened and either credit your account or contact you to advise you of the reason that you did not qualify for the bonus. Please note that investigations of this type are be difficult and may take up to 8 weeks to be completed.”

I did everything I was supposed to do, they can’t tell me why they think they shouldn’t have to do what they said they would do, and they will take 8 weeks to figure it out.

Stay away. Far away.

What Bank Goes COMPLETELY Down For 4 Days??

I've been with them for about 2 years now. I'm leaving. Seemed OK until now. Had a warning that the app would be intermittently working due to system maintenance. Figured no big deal, I could go online to see the balance/transactions/etc. We keep a fair amount here so we want access. No problem if down a few hours here and there but come to find out they will be COMPLETELY down for 4 DAYS! No app, no online access & customer service unable to help with anything. I can't believe this isn't illegal? Going to contact the OCC on that & also headed to Capital One 360 who NEVER showed this level of incompetence & contempt for their customers over the previous 3 years we had them. May cancel our credit card too.

Very Poor Financial Institution

I used discover for about 6 months because I was hoping to earn above average interest. I did earn about 25 dollars in interest, but that was not nearly enough to justify the misery this bank put me through. First, it takes a full 5 business days to complete a transfer to or from an other financial institution. It takes about 3 days for a check to clear and become available. Once they locked me out of my account because they thought that a check I had written was fraudulent (it wasn't), and since the team in charge of fraud was out of town for the holidays, I was locked out of my entire account for THREE days. That's three days I had absolutely no access to my money. I stuck with them, however until this week. I had scheduled a transfer from my university scholarship account, and they withdrew that amount TWICE. This of course resulted in an overdraft fee of 29 dollars, and when I called they insisted that I had set up the two transfers when I know 100% sure that I DID NOT. While in the process of moving my money out of this account, they then did double the bill pay for my cell phone bill, again WITHOUT MY AUTHORITY. This is a very poor financial institution, I encourage you to avoid discover bank at all costs.

They Won't Return My Money

I received an email that my Discover Bank account, less than one year old, was overdrawn and charged $30 for it. Alarmed, I checked online and found that an electronic payment (ACH) made to my insurance company was deducted 2x. The Discover Bak rep told me to contact the insurance co. immediately and have them return the extra payment, they would then remove the $30 overdraft charge. Since I’ve made online payments to many creditors over the last 12 years, this was a first and was certain I didn’t make an error. On contacting the insurance company, they informed me that they had a record of only one payment received on the designated date - to verify their claim I downloaded the recent payment history and it did show only one payment received and no others. After several phone calls and emails, I insisted that Discover Bank expedite resolution to the error. They gave me a “provisional credit” while they proceed with a “dispute investigation” that could take up to ten days. Ironically, one ACH payment bounced because of this error - to Discover credit card! They told me the payment would be resubmitted to Discover Bank during their “dispute investigation” period. Someone at Discover has my money or the account has been hacked or their system is seriously compromised. Whatever it is, no bank that makes these kinds of errors should be patronized by responsible customers. Back to the credit union for me.

Skip This Bank - DO NOT OPEN UP CD


This bank has failed miserably with respect to customer service. In the process of suing the bank for a $3000 early withdrawal penalty - even though the money was kept for the entire 5 year term. BANK ERROR COST US $3K. This is something you typically see on the 5 o'clock news.

They're just not the same institution they were 5 years ago. Give them a pass. There are plenty of other banks to trust.


Posted by: pdh1001 | Mar 4, 2016

Worst bank I have ever dealt with. ATM processing is constantly down. Customer Service provides nothing but apologies and never contacts you back.

Discover Money Transfer Is Very Inconvenient

Posted by: mitdzaivn | Mar 23, 2016

Discover money transfer service is very inefficient. If you request a transfer to your external bank account it may take a few days longer than other online banks for for the fund to arrive.

Discover Online Savings Account....STAY AWAY!

I have been a Discover Card Member since 1987. I love my Discover Card. I received a Promotional Mailing to open an Online Savings Account. OMG What a Nightmare. I attempted to open the Online Savings Account on Monday 02/22/16. Something went wrong with the online application. After multiple calls to there Customer Service. (Useless) It is now Thursday 02/25/16. No calls from Customer Service? My Application was in there Quote "Back Office" No one ever made an attempt to call me back. I finally called the Corporate Office and told them to cancel anything they were doing. I opened an Account with another Online Bank in 8 minutes at a better Interest Rate....1%. This group does not know what they are doing! Very Disappointing.

Good Bank For Savers Who Are Not Looking For Fast Transfers

I do not use them as my primary bank as I feel you still need a bank with a brick and mortar office. I keep a safety deposit box and checking at a local bank.
Their online savings account rates are very competitive and I only use them for savings I don't make very many withdrawals or deposit cash so I can't say much about their transfer time, I like to keep my savings a little difficult to reach so I don't spend it. I do have a Discover Credit Card and find the cash back rewards to be some of the best. Customer service is very good and US Based. This bank is not for the people why use their smart phones to do all their banking. Square would probably be best for the instant everything crowd. But than their rates are not that good.

Putting The Free Back Into "Free" Checking

Posted by: Hilltop | Apr 5, 2016

Discover banking stands apart based on it's low cost fees and no account minimums for checking accounts. Unlike other banks that require direct deposit, or a certain level of activity (debit card transactions per month) or an average minimum balance, Discover does not require anything.

Opening the account if quick and simple. ACH transfers in and out our fast , free, and painless. Customer service is friendly, competent and get's things done quickly. Even without an introductory bonus offer or compensation, I found Discover online banking to be compelling service and product offering just based what it does and how well it does it. All in all, I am a very happy customer, having dealt for years with all the other major brand name banks, its nice to see someone putting the free back into "free" checking.

Major Problems Transfering CD/IRA

Update:I filed a complaint with Consumer Protection Agency and got my money back very quickly. And have not used my Discover card since. Thank you Elizabeth Warren!
I submitted paperwork to transfer two IRA CDs to another institution. Discover guves you only a 9 day grace period when CDs mature. They claimed the other institution used the wrong form even though all the information provided to them was correct. To make a long frustrating story short, after many phone calls from their IRA dept telling me over & over that the paperwork was incorrect I finally determined that they "had no record" of the corrected submissions and only processed the transfer after the other institution overnighted them to their office in Salt Lake City. They then charged ne $1100.00 in penalty fees because the transfer occurred outside the grace period. I've subsequently read many reviews online of others having the same problem, one in particular on this forum I May 2011. I got nowhere with them and have filed complaints with the FDIC, Consumer Financial Protection Bureau, and OCC. My advice : do not be fooled by rheir competitive interest rates : they manage to get a good chunk of the interest you've earned back when you try to withdraw your money.

Tricky To Open Trust Accounts

Posted by: Honeybee | Nov 7, 2015

Had a very bad experience with a rep with paperwork related to a trust account. If the account application instructions were more complete there would be less confusion.

There are other banks with easier trust app requirements. Too much work to deal with Discover. Never returned paperwork and check after declining to jump through more hoops. Don't seem to care about alienating depositors with substantial account balances.

Awful, AWFUL, AWFUL!!!

Posted by: cdseeker | Jan 3, 2013

I have had numerous CDs amounting to a substantial amount of money with Discover and only in the last 6 months have things gotten really bad with them.  I have contacted customer service several times and gotten perfunctory replies that did not address any of my concerns.  They have NO customer service.  They lie about this in all of their ads and promotions and also lie about having "great" rates.  I sense that there are some real problems with this bank and it may be that they just don't want to deal with consumers any longer, at least in the CD market.  So I will NEVER buy another  CD from them and strongly urge anyone reading this stay away from this bank.  BTW, I had to give one star because there was no option for to give no stars.

An Excellent Choice

I have tried many different online banks in the past, so believe me when I say that Discover Bank offers the most bang for your buck. Their rates are pretty great compared to the competition. Not only that, the website is extremely easy to navigate and use; there is little opportunity for confusion. I've had very few problems with them, and they've all been quickly handled by their capable, friendly staff. I cannot recommend Discover Bank highly enough.

Great Customer Service

I have both savings and checking accounts at Discover. Also I had an IRA, which is now closed. The interest rate on savings, currently 0.95%, is very competitive. Customer service is excellent. Over three years, I had to call them several times. Every time the bank representative was extremely helpful. The website is a little difficult to navigate. I had trouble finding the forms I was looking for until I got directions from customer service. My savings account is linked to my local bank. I can transfer money back and forth very easily. I also have automatic mortgage payments out of my savings account at Discover. The checking account I use occasionally to pay bills. It was easy to open an IRA at Discover and when I took a distribution, that too was easy. I am very satisfied with Discover Bank and would highly recommend it.

Good Online Bank

Posted by: Akin Berry | Aug 9, 2015

My go to bank for most of my banking needs. I have a Discover It credit card, discover checking account, and discover savings account. All those accounts do a good job of providing what I need.

Savings account interest rate is top 10 among online banks and far greater than the big 4 banks.

Checking account pays me $0.10 for every debit card purchase, Discover check cleared, or bill payed through the checking online bill payment system.

Their Discover It credit card is the best for cash rewards.

Only a few negative things. 1) They process information slowly. 2) You can not deposit cash into your account, so you will need a brick and mortar bank to deposit hard cash. Then transfer the money into your Discover checking or savings account.

Discover Bank Sucks

I've had a Discover Card credit card for years and thought the overall product and service great. Based on that, I figured that Discover Bank bank accounts would also good. Big mistake! Banking with Discover Bank sucks.

Yes, the rates are good. Yes, they pay (bribe) you to use their Discover Checking. Yes, account setup is really easy. And yes their online banking is good. But when you get to things that really matter in the day to day management of your account, Discover Bank bites the big one.

There are but two ways to get funds into your Discover Bank accounts. One way is using their remote deposit app. A lot of banks these days have remote deposit and the concept is great. Leave it to Discover Bank, though to screw it up. The idea of an online bank is to give you more convenience for the disadvantage of not having branches nearby. Where the vast majority of online banks follow the Federal Reserve regulations for check clearing, Discover Bank files not. They like to hold all checks -- no matter how small -- for nine working days. Nine business days means for two weeks you have no access to those funds. This isn't just for new accounts either. Customers for years still get their funds held.

The second way to get money into your account is via ACH (Fedwire) from your bank. You go to your other bank and tell them to push money into your Discover Bank account. Fedwire is fast and funds are guaranteed so there is zero risk to the receiving bank. Fedwire transactions are also carried out in realtime so it is fast. Except when dealing with Discover Bank. If you tell your bank to ACH money from your account to, for example, your credit union and to Chase on Friday morning, by early Saturday morning those funds are sitting in your account at Chase and your credit union and available for use. Now, if you had sent money to Discover Bank, you wouldn't see those funds until Tuesday morning. Nothing convenient -- or ethical -- about that.

Remember Discover Bank's decent online banking? Well, don't get your hopes up. Their online banking is down for maintenance all the time. Discover Bank's online banking is down for maintenance (scheduled and unscheduled) about 50 complete days per year. Chase, the bank everybody loves to hate, hasn't been down 50 days in the past ten years.

It isn't worth the extra 10 basis points in interest you get from Discover Bank considering how inept and Stone Age they are.

An Honest Review Of Discover Bank

Discover is a giant. They have been around for a long time (since 1911). Discover Bank recently joined the family of Discover in 2000. So, their banking sector is new. Some people have really ripped Discover apart for errors and customer service. But, considering their newness, they are putting forth a lot of effort and seeking to be competitive and helpful. Just look at their website. It has a ton of information and very useful calculators.

Discover's rates are one of the nation's best. If you have a discover credit card, then it would make sense to bank and with them and correlate the accounts via bill pay.

Before you jump on the "I hate Discover bank" bandwagon, check them out.

Discover Made My Problem Worse With Prejudgment And Lie.

Posted by: rlin0430 | Mar 23, 2012

When I was moving to another city, I used IP relay service to call Discover (as a hard hearing person, IP relay was the only communication method for me with Discover) and required a change to my address. Suddenly Discover representative hanged up and then locked my account. As a consequence, I could not make a payment to my Discover More card online.
I immediately contacted their security department to verify my identity. They wanted to call back and continue the verification process. I explained to them that I couldn’t hear sound so for our communication to work, I have to proactively call them through IP Relay. The representative insisted that their record showed they had spoken to the cardholder so they would still go ahead and call back. That was an obvious lie on a deaf person who couldn’t talk verbally through phone.
The second time I called and informed them about my deaf situation, instead of offering an alternative solution, Discover just hanged up disrespectfully. During that time my schedule was very stressful, so I had to sacrifice some goal and time to find out other methods to pay the card.
Compared to Amex who handled my request respectfully and smoothly, Discover customer service is unprofessional. To make the matter worse, they are absolutely rude and lack the heart to help customers.

Will Never Open Another Account With Them.

The rates are great, but that's the only thing that is good.  Their customer service is not well trained and can give multiple wrong answers.   They say they will respond to e-mails within 24 hours, but it can be up to a week.  I have called several times and been given incorrect answers or they said that they would check on the problem and call me back.  They have never called back. 

I did receive a letter requesting that I call them on one of my accounts, but had to read the letter to customer service and they still didn't know how to get me to anyone that could answer my question.  Just promised to call me back and then did not.

They definitely make their money on fund transfers, since they can take up to a week to transfer the $ from an external account into the Discover account or from the Discover account into an external account.

Would not recommend them to anyone. 



Discover Bank Is Starting To Make Me Nervous (Savings)

My Etrade Financial savings account was sold to Discover Bank a while ago.  I'm starting to have problems with the amount of time when I simply cannot get access to my money...  Discover's excuse is that the website is down for maintainance.


When the website is down, not only do customers have NO access to their accounts, but NEITHER DO THE CUSTOMER SERVICE REPS!!! So even if you call, there's no way to set up a transaction until their website goes back up again.


Their website goes down EVERY DAY for about an hour.  Additionally, there are special weekend outages when the website goes down overnight.


I wonder if banks could use 'website maintanance' as an excuse to steal people's savings or to prevent a bank run or something.  Discover bank shuts down completely for about 7 hours every week.  Could it gradually decrease its opening hours to 1 hour per day?  Per week? Per month? Then it would be very difficult for us customers to get our money out.

Satisfied Customer

Posted by: quick12q | Sep 7, 2015

Many people would rate my experience with 5 stars, but I am stingy with that rating level.
This is a convenient account for me to earn modest "cashback" on my everyday transactions such as online bill pay and occasional checks. I try to keep $2000 in the account, occasionally online transferring from my other checking account to top it up. I typically earn $4-$5 cashback per month which is equivalent to about 2% interest - but apparently not taxable.
The iPhone App is one of the best I have used because I can deposit checks remotely, and I can use Apple's Touch ID to log in (iPhone 5s and later).
Checks are free - but not available in Duplicate format.
Drawbacks - no way to deposit cash easily. Therefore not useful for a sole checking account. Also, transfers from the account initiated by bills from credit cards do NOT earn cashback unless I manually trigger the payment from Discover's Billpay process - autopay to outside accounts is not available except from the other bank's side.
I set the account up online in response to advertising on my Discover credit card account - I don't think I've ever had to call customer service.

Website Is Always Down For Maintenance - Inconvenient And Inaccurate

Posted by: ek | Apr 29, 2012

Discoverbank is not a good online solution! The website is down more often that not - it seems like they perform 'system maintenance' every weekend. If you ever want to do any online banking over the weekend you mise well forget about it. Originally I had etrade who was acquired and taken over by discover bank - it has been downhill ever since. I will be looking for a new online savings account option, this has happened one time too many. I bank online with other companies all the time and I have never experience the amount of downtime as this company - if they wanted to get into online banking then they should actually make it work - either that or state hours of operation on their home page. 

Awesome Online Bank With Great Interest Rate

I initially joined Discover Bank online because they had a special offer and I received a bonus of $100 deposited into my account. At first, it was just an account that I created in order to receive the initial bonus of $100. Discover Bank turned out to be one of the best banking products I ever used. The fees are very low and customer service is superb. I made a error and there was a charge that came through my account and it over drafted my account. I called the customer service toll free number and the customer representative immediately helped me waive the fee. The interest rate is extremely competitive. I love seeing the extra money that I get deposited into my account as interest payments. Discover Bank also offer a very generous rewards system. I get $.10 for everything transaction I make with my debit card, bill payment, and check payments. Sometimes the reward will be doubled and I get twice the reward amounts. This is one of the best banks out there. Highly recommended.

Enjoyable Experience

Posted by: BC | Aug 23, 2014

I have enjoyed my experience with Discover Bank very much. From the moment I began banking with Discover, I was uneasy about my decision. In time the great customer service won me over. On several occasions I had issues with my bill. I was treated with respect and the customer service representative explained bill to me. Thus resolving the concerns I had. I have heard other people complain about discover but I have not had these issues personally. My overall experience has been great and would recommend banking with Discover.


Posted by: PEGGYB2 | Oct 20, 2014


Better Check On Your Signature Card

Posted by: larkin | Nov 7, 2011

I have opened 12 CD accounts with Discover over the past 2 years.  Each one requires a signature be mailed back.  The first 11--no problem.  Today I noticed a debit on my most recent CD.  I called and was told they never received the signature card so I am subject to backup withholding.  I explained that I mailed the signature card back the same day I received it and reminded the CSR that I have had multiple accounts showing that I am not subject to backup withholding.  It was like talking to a brick.

Bottom line--they may have decent rates but if you open a new account make sure to double-check that the signature card got back to them. 

Very disappointing...

Stay Away.

In early 2012, I moved my money from my ING to Discover Bank because of the better rates.  Setting up the account with Discover Bank was a pain, and transfering money was extremely slow.  Now that ING has the same rates, I moved my money back into the ING.  Discover Bank's customer service was also terrible.  Stay away.

Fraudulent Con Artists

Posted by: rokatem | May 10, 2012

I should have seen the warning signs. When I first opened the account in August 2011, Discover tried to pull the initial deposit amount ($9,000) THREE TIMES from my other bank, resulting in multiple overdraft charges of $105. When I asked my bank about this, they told me that I needed to get refunded from Discover and of course Discover told me otherwise. So basically I had to fight with both banks and then eventually closed off my original bank account (since their service was worse than Discover's). What a mistake.

Things were going well with Discover as I had a regular deposit in place. But after unacceptable delays in money transfers and having to wait almost a week for each transaction to occur, I decided to pull out from Discover and open a HSBC bank account that only takes 3 days per transfer. As I was pulling out all my money, of course Discover did what they do the best-they repeatedly tried to "transfer" money into my other account multiple times, resulting in $35 overdraft fees. When I called Discover to ask how on earth this multiple pull happened, they explained that I logged on and transferred the money multiple times myself (they even got a tech person at Discover to verify this!). This was the most insane excuse I have ever heard. And all of this mysterious 'transfer' that I requested all occurred after I emptied out my account. When I asked them "why would I try to make transfers from an empty account?", they were like, "I can see that this doesn't make sense and there must have been a mistake". So I asked for a refund for the $35 fee they charged but they told me that was impossible.

I realized that this is how Discover penalizes people who empty out their accounts--they falsely charge you with fees based on a fake transfer that their system creates. This is the most unbelievable experience I have ever had with a bank. I truly believe that Discover bank is committing a crime through their fraudulent practices.

Discover Bank Does Not Seem To Be Very Honest

Posted by: cactus | Jul 22, 2012

* "CFPB Orders Discover Bank to Pay $18.5 Million for Illegal Student Loan Servicing Practices"

* Try to find the CD terms in their Deposit Account
Agreement. Document must be purposefully confusing. No one could create this mess by accident.

* They say: "Get preferred member rates on 12, 24 and 60 month CDs and IRA CDs."
Discover | AAA - CD 
However, all the rates are the exactly same for non-AAA members. 

A good, safe bank

Discover Bank is a good bank to use if you're looking for quick service, an easy-to-use website format, and helpful customer service. It takes a while to reap any rewards from using their services, but they are a good place to start with if you are new to online banking. They have helpful customer service options, particularly the live chat option which makes finding a solution much easier. My only problem is that even when you have been with them for a couple of years, there are no true longstanding member rewards.

Slow Transfers + 100K Limit A Month To Get Money Out

American Express Bank (similar rates as Discover Bank) - you initiate an external transfer and the money is in your account the next day.

Discover Bank - you initiate an external transfer and it takes a week to get the money out.

Discover also limits your withdrawals to 100K PER MONTH.  Usually you have limitations like this per day...but per month?  Useless!  If you reach the 100K limit when transferring money TO Discover, then a phone call to them can have them override the restriction.  But to get $ out, they say they have to follow the rules.  The only exception to that is if you close your account - which is kind of odd since that lets you transfer 100K out without any problems.

Although this started out as a great experience turned into a bad one given the two issues recently faced...American Express Bank is the way to go when compared to Discover.

Discover Banking

Posted by: jimbo | Jul 23, 2014

I started using Discover Bank when the interest rates on CDs at my local banks started to fall to ridiculous lows. The rates on CDs at Discover Bank were among the highest in the country. I have built a ladder of CDs over the last couple of years and every time one comes up for renewal I check the local banks and Discover has remained better than my local banks. I have also started an online savings account. Discover gives me a very good interest rate on my savings, in fact this rate is higher then my local bank's CD rates. I was hesitant to put my money in an online bank, but after 5 years with money in Discover Bank I an fairly confident my money is safe.

High Yield Savings

Posted by: garion | Feb 3, 2011

Was about to open a savings account online but then read on the web how they have a minimum withdrawal restriction. I confirmed it by calling them. It's a $50k/month withdrawal. You can ask them to cut you a check or wire more than the 50k for a fee, tho. I think that's ridiculous.]

I gave it 3 stars, because maybe the account is fine and for those who withdraw less than 50k it might be fine. I just don't like the principle of how we are giving them money to loan out and yet when we need it, we are stuck with a withdrawal limit or fee.

Does Not Inspire Trust

Posted by: falcone | Oct 11, 2014

I have had multiple accounts for less than a month. As soon as I can resolve outstanding issues, or when the CDs mature, I will close everything out.

Their website is finicky, even when using the suggested browsers. I ended up with duplicate accounts after I completed the application process. Coupons and discount codes were accepted during application but not applied after application.

With any transfers dealing with another bank, the default response is: "you have to talk to them. We can't do anything." Had to escalate with a manager before the mistakes surrounding the duplicate account could even begin to be fixed. This took around 3 weeks.

They can suspend your ability to make transfers whenever they like. They can also suspend your account entirely without notifying you: "we don't notify things like that." Every few days I logged in to the website something was different. I would also get emails saying this or that has been suspended. All this is fallout from my original issue with opening the savings account through the website.

Clearing times for transactions involving external banks are relatively slow, certainly longer than the 24-48 hours I read on reviews.

Customer service is super-friendly but not able to solve non-trivial problems. Either it's another bank's issue (which I must sort out) or they are happy to admit they don't know what's going on and that "more research" is needed. All of this adds days of delay.

I have accounts with Bank of America, CapitalOne360, and Barclays and I have never experienced these issues (buggy website, delays, lack of knowledge, inability to suggest solutions) with them. Discover is friendly and competent with routine tasks, a good option for phone banking. But when things go wrong the difference between them and other banks becomes glaringly obvious.

Discover Bank Review

Posted by: Srilu | Oct 4, 2014

Discover bank clearly stands-out among it's competitors in terms of it's no monthly fee products and good interest rates.
Discover cash back checking is unique with no minimum balance requirement, no monthly fee, free checks, cash back for every transaction with check card or physical check.
Discover online savings gives the best interest rate among major banks with no minimum balance requirement.
Discover customer service is really good. They understand the request and respond with diligence.
Their website is comprehensive and handles all the day to day needs, without making feel any necessity to talk to a real person.
They can add few more features on the website to consolidate all the banking/card/loan accounts into one place.

Extremely Stressful To Open An Account Through AAA

Posted by: lakegirl | Jul 26, 2012

Opened up an online account . A dozen phone reps said the money never made it to the account. I was not able to speak with a supervisor. The one phone rep said to fax papers to them-which I did.Another said to call someone long distance(not tollfree)-which I did. I was told the money left my old bank and never made it to Discover Bank.I also used online customer service - never responded. I was told the money was GONE!AAA was no help initially, but 6 months later offered to help.I complained to the FTC and FDIC. I found out 4 weeks later the money was in an acoount.I also opened an account via U.S. mail. it took weeks. I spoke to several post offices and Discover Bank reps  on the phone before the account was opened. It is too much time, effort and money  to get an account opened.

AWFUL, ..., All Around Awful

Posted by: barbina222 | Jul 3, 2012

Opening an online savings account with Discover Bank is a mistake. I found out the hard way. They are a day or two slow in transferring money out. That hurt a little but one can live with that. There are several other minor things that are troublesome, including horrible customer service. One can live with some of these things, as long as my money is fine. The big issue came when I transferred everything out of the account on the 24th of the month. I was stunned when I didn’t get any interest for the month, 24 days in. They told me that I forfeited that when I transferred everything out. AWFUL.

I never thought I'd say this but American Express (http://personalsavings.americanexpress.com/) is much better. Money transfers on time, better rates, plus, they do not steal your interest money. ING isn't bad either although their rates are a tad lower. At least, they do not confiscate your money. I have learned from experience, I hope no one else suffers my fate.

Students, take note!

Posted by: ofthegrey | Nov 1, 2014

Discover Bank is a great place to start if you're just opening your first bank account. There's no minimum deposits or monthly fees to consider, which is becoming a less common thing as banks change the types of accounts they offer to new costumers. If you're a student, you can even apply for a credit card that considers your scholarships when determining a credit line. Every transaction is promptly applied--payments, for example, will count as credited on the same day the bill goes out, if you choose to schedule it. The website itself is easy to use and showcases all important documents or deals where someone's eye is most likely to fall. The mobile is also fairly easy to use. Overall, I would strongly recommend Discover Bank as a viable option for those who want a no-hassle introduction to banking. Just remember to research what type of account may be best for you.

Nice Rate But Slow Transfers

My only complaint is that it takes at least a week for an ACH to fully transfer. The money will be gone from my third-party account in a day or two (transfer initiated at Discover), but it seems to take at least 5 business days for it to fully deliver.

Customer service for me has always been top notch, although I'm a pretty low-maintenance customer.

Have Nevered Raised Interest Rates

Posted by: Angry_WASP | Jun 3, 2013

Been with Discover Bank since it opened with $$$$$ in a preferred savings account. Since the great recession started, they have always and steadily decreased and ratcheded down thier rates, but always gave the preferred and 'charter' members 0.05% more than the advertised rate. This stopped on 5/31/13. If you research you will find that there are at least 4 other online banks that offer the same or greater interest than Discover which has recently been the highest with the 0.05% kicker. We are no longer doing business with Discover Bank.

Paid with each purchase

I opened a checking account with Discover Bank after they sent me a solicitation promising a $50 credit to my account within 30 days of opening my account if I deposited money into my account. The reason I decided to follow through on opening one more account was the amount of perks they offer. Although it is an online only bank, you still have access to your money through certain ATMs across America. They sent me a debit card and free checks within a very quick time frame. I earn .10 for every debit card purchase I make, and I am charged no fees to have the account. I don't really use the tellers at the bank, so banking with Discover is just a natural fit into how I already handle my finances, shop and live my life as far as technology goes. Additionally I think that their online layout is clean and easy to understand.

Excellent account with cash back!

For paying bills Discover Checking wins hands down. They are the only account I am aware of that that pays you for using their bill pay, debit transactions, or writing a check. You get $0.10 per check written or bill paid online that can be credited to your account. The downside is that there is no interest paid on money left in the account, but the earnings from the bill pay more than offset that. The customer service is the same fantastic service you receive from Discover when you call for any other account.

Caught With Fees

Posted by: johndoe | Sep 21, 2010


There was some confusion with some transfers between Discover and Chase where I believe I was incorrectly charged fees.


Chase quickly refunded their fee without admitting any fault, making this customer happy with Chase.


Discover didn't do the same.

Very Pleased With Discover Bank

Posted by: sluigij | Nov 13, 2011

I have a few accounts with Discover Bank and have been banking with them on-line for a few years. The on-line services are very easy to use and I have had no glitches whatsoever. Rates are usually better than my local banks.

Room For Improvement

The yield on savings is attractive (currently 0.90%).
Easy to deposit money and a very user friendly web interface. If you have a Discover card, checking and savings, they can all be managed from one page.
I have inquired about their online security procedures and they have only answered that they meet or exceed industry standards; not much of an answer.
If you have a checking and savings account, don't think that your savings will cover an overdraft for checking. It won't. When I spoke to Discover about this issue they told me that this is something they hope to fix and implement in the near future. Disappointing that such a simple and rather obvious feature wasn't rolled out from the start.
Checks take longer to clear when deposited through the app (photo-check deposit). Takes about 5-6 days for the full amount to be available.
There are plenty of Discover Bank affiliated ATM's and are easy to find but you CANNOT make a cash deposit through these ATM's.
You cannot deposit cash by any other means.

Go for the yield and the customer service. If you are polite with them they try to be very helpful and thorough. I'll stick with them, until a much more attractive rate comes along.

Never Sent Me A Signature Card For Savings Account

Posted by: Anonymous | May 17, 2012

I recently opened a savings account with Discover. This was my first attempt at using an online savings account and I wanted to wait until until I received the signature card from the bank before funding the account. When I didn't receive the card after about 10 days I called and verified my address and they said they would send out another card. It's been over six weeks and I still haven't received either letter so I let the account close out. How can I trust a bank with my money when they can't even send me a letter?

Discover Bank

Posted by: brewdog | Nov 20, 2014

I have been using Discover services for twenty-seven years and have been very pleased with them. Interest rates are competitive and they have a wide range of services. Their cash back bonus program is what got me to try them in the first place and I have not been disappointed. If you pay your balance in full each month you can actually earn money for using their credit card and/or checking.

You Can't Go Wrong

Discover Bank gives you the most bang for your buck. The interest rates offered with their Savings account is almost near top of the market, near as I can tell. Better still, setting up an account is not at all a hassle or a struggle. It's easy to transfer money between banks, if a little lengthy, and a complete breeze to transfer between your Discover accounts. The customer service is mostly helpful, so that definitely helps. Fees, too, are extremely reasonable and don't require any monthly payment just to maintain the account. I will say, though, that it's a little annoying having to deal with ATMs and the like. Plus, it seems that the statements can be a bit slow to come out every now and then. Still, if you need a savings account, you really should go with Discover.

Great products and good service

Posted by: HelenD14 | Oct 23, 2014

I have an online savings account with Discover Bank. The interest rate they pay is a lot higher than what you will find in brick and morter banks and a little bit higher than other online banks. The site is easy to navigate and quick too. I never receive error messages and can always find what I am looking for. I have called customer service one time, when I forgot my locked myself out of my account because I forgot my password. Customer service was friendly and helped me resolve my issue quickly. I highly recommend this bank for anyone who has an internet connection. This bank has great interest rates and good customer service.

Discover Bank

Posted by: KRod | Sep 3, 2014

This bank service has been a very nice addition to my credit score. When I was looking around for which credit card would provide the best options for students including fees and everything, this was one of the better accounts to set up. Even though the wait is sort of long on the phone and then to activate it, it's still a very efficient customer service. I don't really like speaking over the phone, so the online experience and layout is nice. Very easy to access. The feature I like the best about this service is the mobile app. I'm on my phone constantly and I can quickly open the app to view whatever I need regarding my account.

Discover Bank Website and App

I have really enjoyed my experience with Discover Bank and my IT card. First of all, I have a year worth of zero Interest so that is ideal for me as a college student. I have experience in using the mobile app on my iPhone, and the app has its ups and some downs. First off the good news, all of the info is there for me. I easily know how much credit i have left, I known my minimum payment, its due date, and when I will be charged. Also Discover does a great job of not flooding me with emails even when my payment is due. This is something that multiple websites lack to due. I do not need a notification from the app and an email from the company. One or the other will suffice. Another great addition for the app is the ability to check your balance without the process of logging in to the app. Also the well advertised ability of being able to freeze my account if i misplace my card is one of my favorites since i tend to forget things here and there. Negatively, as someone with OCD (not really), it bothers me that i cannot clear my notifications without making several clicks into the app. Hopefully with the iOS 9 they will give me a new way to clear notifications without entering the app.


Posted by: mrphelan | Oct 24, 2015

I opened a discover savings account two years after opening a credit card with them. They have been a great bank for a savings account because of their larger than normal interest percentage of approximately 1%. My old savings account with 5/3 bank was a fraction of that percentage. Discover has made it easy to manage my money on my mobile device. They have a secure mobile app that is very user friendly. It has a touch ID for easy login and many other user friendly features. I have never really needed any in depth customer service because I have not ran into any problems. I would highly recommend this bank to people looking to open a savings account.

Great Interest Rates and Easy To Use

I moved my savings to Discover Bank several years ago when my bricks & mortar bank was paying only a very tiny interest rate on savings accounts. After doing some research, I found that the interest rate on savings at Discover was one of the highest available. It was also extremely easy to set up an account and to move my money between my bricks & mortar bank and Discover. Transfers are easy to schedule and are usually accomplished in 2-4 days. I usually only get quarterly statements from them, but can login at any time and check my balance. Recently, I moved part of my savings into a year-long CD at Discover. It pays a slightly higher rate than the savings accounts. It was very easy to set this up and take care of all of the paperwork online. So far, I have had no negative experiences using Discover Bank online.


Posted by: decaf4me | Oct 18, 2015

Discover is one of the best banks out there! I have a Discover Cashback checking account. It is great because the checks are free, there are no fees, and I earn money every time I pay a bill or use my debit card. Every time I write a check or make a purchase with my bank card, I earn 10 cents. Certain months, I get 20 cents each time I use the card instead of 10 cents. Discover offers up to $10 a month just for using their account. No other account comes close to paying as much for using their product. I don't even get this much from interest in my other bank accounts. I also have a savings account with Discover. I get around .9% interest which, again, is much higher than any of my other bank accounts which pay .0 something percent interest, which is next to nothing. I really love my Discover accounts!

Discover Bank Review

I've actually had great service with this bank in the past. Their customer service is top notch. If i ever had a problem with a bill they have accommodated me with great service and always met my needs. I have found that they care about they customers. Their website is always functioning properly, and I have never had to worry about my information being compromised. I haven't met a rude customer service rep yet. They have been very respectful of me and my needs

Use the Card, Use the Bank

I have a Discover credit card, discover checking account, and discover savings account. The savings account interest rate is in the top 10% of online banks and greater than the big banks. The Checking account pays $0.10 for every debit card purchase, Discover check cleared, or bill payed through the checking online bill payment system.

Good And Fast Service!

Posted by: Jojo | Dec 9, 2010

I have had a money market account at Discover Bank for over ten years. The rate has always been higher than any of my local banks. Of course, today, that does not mean a whole lot.

As far as fast service, this is something that I discovered (no pun intended) several years ago. Say I wanted to deposit $250 in my money market account. If I did online banking at my local institution and transfered the money, it took almost ten calendar days for the deposit to show up in my Discover account. If I MAILED a check, I have seen it posted to my account in a few as THREE days. Discover obviously posts a deposit the day it is received. Electronic = 10 days, snail-mail = 3 days...Hmmm...probably something with my local bank. That is why they are used for paying bills and nothing else.

Because of this I called Discover and asked if it was possible to get more deposit slips and postage paid envelopes so that I could keep a regular savings schedule. In a couple weeks I received an entire book of deposit slips (not blank, but with my name and account number) along with a stack of postage paid envelopes.


Discover Bank Online Savings Account Review

Posted by: Anonymous | Mar 10, 2011

Pluses: Good APY, 24hr customer service

Minuses: VERY SLOW transfers compare to other banks. They would withdraw money from your external account, and for the next 3 business days they can use them without paying you an interest. After that, they will appear under your balance. Transfer LIMIT is 50K a month. It's 30 days until you can withdraw more than 50K. 10 business days hold on your deposits for the first 6 month. In comparison, some banks can transfer money within one business day, no transfer limit and hold on deposits only 6 business days.

Advise: shop around and don't let this slightly higher APY limit access to your money when you need them.

Great Comfort

Posted by: faizan | Feb 20, 2011

I am a regular customer of this bank it provides allot of services and very comfortable lone conditions. I Have a current saving account in this bank and I am very happy with it as it gives a very attractive profit package. I have a credit card also with very easy return conditions. I will recommend others to have an account in this bank. I love it.

Online Opening Long Term Cds With Discover Bank

Posted by: Mike | Jun 20, 2010

October 2008.  I opened more than one.  It was straight forward and efficient.  I think I had to sign some forms via snail mail, but it did not hold up the process at all.  The start date for the CDs was the moment I was online.  I believe I had the money PULLED from one of the, then, high interest savings accounts. 

I have had a few questions over time, that I handled via the logged in messaging method.  That has been problem free.

My only drawback:  I am a Discover customer in four ways... 

-(2 logins) separate credit card accounts

-(1 login)multiple CDs

-(1 login)Savings customer (thanks to E-trade)

...and I have to have completely separate logins for these.  They are not connected.  Cannot be connected.  I've asked.  Not available.

I've still got a long wait before the CDs mature (unless DISCOVER is taken over/bought/bailed out, etc), so I am unable to comment on how easy it is to handle the money at maturity.  I hope it is problem free. 

So far, so good.

Mr. M

Posted by: Drew | May 27, 2015

Discover bank actually was my first bank I, opened up my first account with them when I was fifteen years old. I remember going in with my dad and, I just gotten a bit of cash for my birthday, My dad told me to save it so we went to the bank to open an account in the hopes, that if I couldn't see it I wouldn't spend it so fast. The agent was really nice it was a woman , the whole thing took about thirty minutes just, kinda in and out. Discover gave me my first credit card too, when I turned eighteen and started college that card was a blessing and a curse at the time, I didn't really have a job so no real way of paying the card of quickly, but I had a lot of expenses where, that card came in handy, like gas here, and there, or a bite to eat. Discover to me is a bank you can trust I've started banking here, and I haven't had any problems with them, they offer a good, fast, and easy banking experience, and I would recommend this to someone who is just starting, a bank account, or needs a credit card.

Banking online with Discover, a semi-OK experence

My experience banking online Discover dovetailed with a big-learning experience: Having my first credit card. I was inexperienced with credit cards and banking in general and was unaware of the surprising fees that come with having a credit card. In some ways, Discover's online banking system made this experience easier. The easy-to-use website layout allows users to keep track of all purchases charged against their account a feature that allows customers to rein in their spending and keep an eye out for any suspicious transactions. Discover also gives users the option of receiving text alerts for upcoming bills and account balances. Scheduling payments through Discover's web banking system is also straightforward and easy to track. There are, however, a few downfalls to using Discover's online banking system. Their FAQ section is pretty sparse, forcing users to endure long waits on hold with customer service to get answers to simple questions. It's especially cumbersome to get hidden fees taken off your card. Overall, Discover's web banking system is fairly OK.

Quality online banking

Posted by: skholm13 | Oct 30, 2014

Overall I have enjoyed having an account with Discover Bank. Their fees are low, especially for CD's, compared to other online banks. Their mobile website is smooth and attractive, and they make it easy to locate banks that are part of their network (a lot of banks are part of it, like Wells Fargo, I was pleasantly surprised to discover) so I can withdraw and deposit as necessary. Their customer service is great, but wait times can be long. Once I waited close to 15 minutes when I thought there was fraudulent activity on my account, and with other banks I get a really quick response with fraud is involved. However, when I am able to finally reach someone, they are able to solve any issues I have and take the stress of the situation away with ease. They're available 24/7 so when I'm traveling I know I can reach them any time. I plan to open a savings account with them because their advertised rates are really favorable.

Discover Bank: Great Rates, Satisfactory Service

Posted by: JDH | Jul 28, 2014

Discover Bank offers several products, such as savings accounts and money market accounts, which I have utilized. I was originally drawn to the favorable rates offered on these products. For instance, Discover's savings account offers a .8% interest rate, which is significantly higher than other banks I had researched. Their high rates are the primary reason I became a customer.

The web interface is efficient and easy to use. It provides a number of features and allows you to manage your account online in various ways. The user interface is clear and appealing, and it also allows access to other Discover products, such as your credit card account.

Customer Service has been reasonably helpful when I have needed them. They are not the quickest to respond, but are pleasant and helpful when needed. The major drawback I have found with Discover Bank is the length of time it takes to transfer funds to or from external accounts. It often takes in excess of 3-4 days for a transfer or deposit to clear. If you often need cash quickly, you may want to consider other options. However, if you are not pressed for time, this is a minor inconvenience.

In all, Discover Bank has been beneficial for me. I am satisfied with their products and services and would recommend them to friends and family. Overall, the pros outweigh the cons and they provide a positive customer experience.

3.00% APY for 5 Year CD

Posted by: Jeanne | Jul 8, 2010

The early withdrawal penalty is 6 months (see http://www.discoverbank.com/cd-faq.html), so for example, if you need to withdraw at 18 months, you would still earn close to 2%.