When you open your initial Discover Savings Account, you could earn either $150 or $200. Let’s delve deeper into this.
Have you ever thought of Discover as more than just a credit card provider? Surprise, they’re a bank as well!
Discover Bank operates under the umbrella of Discover Financial Services, Inc (NYSE:DFS). While many recognize Discover for its credit card services, it’s worth noting they offer more. I recall getting a Discover card in 1998 that offered me a 1% cashback for several years. Today, when you initiate a savings account with them, they’re ready to reward you with cash.
Claiming the $150 or $200 Discover Savings Bonus:
Discover Bank has a tempting offer: a bonus of $150 or $200 when you set up your first Discover Online Savings Account. To avail, just open an account and use the promo code WH623 during registration.
Ensure you apply by 9/14/2023 for this exclusive offer.
Your bonus is contingent on your deposit amount within the first 30 days of account initiation:
- Receive $150 for depositing at least $15,000
- Secure $200 by depositing $25,000 or more
This bonus will be processed into your account within 60 days once you qualify.
What’s appealing is that this bonus comes along with a top-tier online savings account. This account offers a competitive interest rate, no minimum initial deposit, and zero fees including maintenance, excessive withdrawal, stop payment order, and insufficient funds.
Steps for the Bonus:
- Register for your premier Discover Online Savings Account – via online, the Discover App, or a call.
- Use Offer Code WH623 during registration.
- Deposit a minimum of $15,000 to claim a $150 Bonus or a minimum of $25,000 to bag a $200 Bonus within 30 days of opening.
Terms to Remember:
This offer doesn’t cater to existing Discover savings customers or those with co-branded or affinity accounts by Discover. The main account holder determines eligibility. Ensure your account remains active when the bonus is credited. The bonus, considered as interest, will be reported on Form 1099-INT. The offer expires at 11:59 PM ET on 9/14/2023. Terms are subject to change.
Discover Cashback Debit – Earn up to $360:
Discover offers a Cashback Debit account, providing 1% cashback for up to $3,000 in debit card purchases monthly. It functions as a regular checking account but comes with the bonus of 1% cashback. This account comes with minimal fees and an Early Pay feature that can advance direct deposit payments by up to two days.
Is Discover Safe & Insured by FDIC?
Absolutely, safety is paramount!
Discover’s journey began with Sears. Established in 1985, it evolved through mergers and spin-offs to stand as Discover Financial Services in 2007. The sole address for Discover Bank is 502 E. Market Street, Greenwood, DE.
Your funds are safe with Discover. The FDIC insures individual accounts up to $250,000 and joint accounts up to $500,000. So, your deposits are secure even in the rare event of bank insolvency.
More Ways to Earn with Discover:
Discover also proposes other cashback avenues through their card offerings. Their “Discover it Credit Card” matches all your cashback earnings in the initial year. They also rotate quarterly categories for 5% cashback rewards.
Comparing Discover Bank Offers:
While Discover has lucrative deals, other banks like Citi Priority, Bank of America, and Chase offer compelling promotions worth considering.
Closing Thoughts:
Discover Bank’s Online Savings Account stands out for its lucrative rates and minimal fees. Whether you’re considering a primary bank switch or just adding a savings account, Discover Bank makes a compelling argument. If you’re solely enticed by the bonus, ensure you cross-check with other bank account bonus offers available.
