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Discover Savings Account | No Monthly Fees – Discover

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Discover Savings Account | No Monthly Fees – Discover

Grow your money with our high-yield Online Savings Account. No minimum deposit required.

You’ll never pay fees for the following:

  • Monthly maintenance
  • Official bank check
  • Excessive withdrawals
  • Expedited delivery for official bank checks
  • Deposited item returned
  • Stop payment order
  • Insufficient funds
  • Account closure

How do I open a Discover Online Savings Account?

Click here for more information and to open an account online. Additionally, you can call our U.S.-based Banking Specialists 24/7 at 1-800-347-7000 to open an account over the phone.
There is no minimum deposit to open a Discover Online Savings account.

How can I access and manage my Online Savings Account?

You can access and manage your account online. Click here to login to your account. You can also access and manage your account via our mobile app available for AndroidTM and iPhone®. If you do not have an Android or iPhone smartphone, you can still access your account on your phone from DiscoverBank.com. Please remember your mobile device must be set up to access the Internet in order to use Mobile DiscoverBank.com.

How many withdrawals or transfers am I allowed?

The number of certain types of withdrawals and transfers from savings and money market accounts is limited to a combined total of 6 per calendar month per account. There are no limits on the number of ATM withdrawals you can make (for money market accounts) or official checks mailed to you. If you exceed these transaction limitations during any calendar month, we may refuse to pay each transaction in excess of the limitations. If you exceed these limits on more than an occasional basis, we reserve the right to close your Account.

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Below are the transactions that count towards the six (6) withdrawals or transfers per calendar month:

  • ACH Transfers
  • Wire Transfers (a service charge applies)
  • Phone Transfers
  • Online Transfers
  • Online Bill Payments
  • Transfers to repay loans at Discover Bank

How do I make deposits to my Online Savings Account?

Here are your deposit options:

  • Deposit a check with Discover’s Mobile Check Deposit using your mobile device. To learn more, click here.
  • Complete an online transfer from an eligible Discover Bank Account.
  • Complete an online transfer from an external bank account
  • Set up Direct Deposit
  • Mail a check made payable to you with a deposit slip or your account number on the memo line to:

Discover Bank
PO Box 30417
Salt Lake City, UT 84130

*Please note that Travelers Checks will not be accepted for deposit.

How do I withdraw money from my Online Savings Account?

You can withdraw money from your Savings Account in the following ways:

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