- PERSONAL FINANCE
- BANKING
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Discover Bank offers a variety of accounts with low fees and useful features, but it doesn't offer very many promotions for its online bank accounts—currently, you can earn a bonus of $150 to $200 by opening a new savings account and depositing $15,000 to $25,000. But take note that this bonus is only available by Google search. Try searching "Discover bank bonus" to find it.
We’ll show you how to earn any available Discover Bank bonuses.
Discover Bank: Online Savings Account - $150-$200 [AVAILABLE VIA GOOGLE]
How to Get the Bonus
This bonus is only available when found as a paid ad through Google search. You may be able to find this bonus when searching Google for "Discover bank bonus."
- Apply for a Discover Online Savings Account by September 12, 2024. You must find the offer as a sponsored ad through Google search, and apply through that page.
- Deposit at least $15,000 or $25,000. You won’t need to make this deposit right away, but you’ll need to get it done within 30 days in order to be eligible for a bonus. Deposit $15,000 to earn the $150 bonus, or deposit $25,000 to earn the $200 bonus.
- Earn your bonus within 60 days. You’ll need to keep your account open until you receive the bonus as a deposit into that account. Other than that, there are no requirements to earn the bonus.
Bonus Restrictions and Account Fees
- This bonus is only available when found as a paid ad through Google search.
- The offer is only available to people who have never had a Discover savings account before, including savings accounts that are co-branded and offered through other outlets.
- If you don’t meet the requirements, you may still be eligible for the bonus if you open a joint account with someone who actually does qualify, as long as you list them as the primary account owner.
- Discover Bank doesn’t charge any fees for its Online Savings Account except for a $30 outgoing wire transfer fee.
If you decide to transfer your money back out after earning the bonus, make sure to close your account to avoid any potential fraud risks.
Compare Discover Bank Bonuses
Are Discover Bank Bonuses Worth It?
Discover Bank offers a variety of account types, but there's currently only one bonus available for its savings account. And as mentioned, you'll need to search Google to find it.
If you do find the promotion, you'll have an option of two bonus amounts. You can deposit $15,000 to earn a $150 bonus—for a return on deposit of 1%—or you can deposit $25,000 to earn a $200 bonus, for a return of just 0.8%.
These returns are relatively low compared to other savings account bonuses we track, which have a median return of 1.6%. So if you're hoping to open a new account and earn a great bonus at the same time, you should explore the best savings account bonuses before making a decision. But, if you're interested in Discover for its low fees and relatively high rates, it could be a good time to open an account. Just be sure to check the best high-yield savings account rates first, to see if there might be a better place to stash your cash.
Discover's online banking services should be a good fit for those seeking a digital bank that offers a suite of different services. It might be a particularly good fit for those who:
- Prefer paperless, digital transactions
- Hate paying fees
- Typically use their debit card for day-to-day transactions
- Prefer to bank with an established "name" financial institution
Frequently Asked Questions (FAQs)
Does Discover Have Any Promotions?
Discover isn’t offering very many promotions for its bank accounts right now—see the above list. See our picks for the best back account bonuses to explore other options.
Are Discover Bank Bonuses Taxable?
If you earn a bank bonus from Discover or any other bank, that bonus is taxable just like the interest you earn on a savings account. At the end of the year, Discover Bank will send you a Form 1099-INT that you can use to file your taxes.
How We Track Bank Account Bonuses
Every business day, Googlawi tracks 23 banks and the current, new, extended, and expired account bonuses they offer customers. Banks are chosen based on consumer interest and we add banks to our list as needed to ensure we're always reporting on the best bank bonuses. We update our picks for the best bank account bonuses, the best checking account bonuses, and the best savings account bonuses as needed, chosen based on bonus amounts, bonus requirements, and account features. We aim to provide you with news about checking and savings account bonus offers so you can take advantage of them as soon as possible.