About Discover Bank

Since 1911, Discover Bank has been providing superior banking products with service designed to help customers achieve their financial goals.
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Overall Rating

MyBankTracker Grade

A
Customer Rating
Based on 84 Reviews
Financial Health
Based on Texas Ratio: 5.93
Bank Fees
vs. Average
Bank Rates
vs. Average
Mobile Deposits
Mobile Deposits
Mobile Banking
Quality of Mobile Services

Customer Reviews

Most Helpful Customer Reviews

anne marie m's Profile Image

Reviewed by anne marie m

Mar 5th 2009

4 out of 5 marks

So Far, so good, I'm Happy

I have been very happy with the service from Discover Bank. My only regret was I didn't know they gave a $50 incentive for applying for your acct. on-line which I would have taken advantage of if I had only been made aware. In these hard times everyone could use $50.00 extra. Other than that I have been very pleased with the way the bank has handled my account.

Sincerely,

AMM

Is this review helpful? ▲ Yes 4 ▼ No 2

DiscoverCardStinks's Profile Image

Reviewed by DiscoverCardStinks

Jul 3rd 2012

2 out of 5 marks

One Of My Worst Experiences With Online Banking, Horrid!

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. I have learned from experience, i hope no one else suffers my fate.

Is this review helpful? ▲ Yes 3 ▼ No 1

sheila h's Profile Image

Reviewed by sheila h

Jun 4th 2009

1 out of 5 marks

Never get YOUR MONEY back

I had a CD but had to close it early. I have now been 3 weeks trying to get my money returned. First they told me I had to receive it by check (they wire transfered it out of my account) and I NEVER received the check. Every time I call I get someone new and have to tell the whole story again. I have called repeatedly and get a differnet response each time. I have been told the check is lost, that they have issured another and it is being overnighted, that they're verifiying a stop payment on the 1st check and they will call me back. I'm really pissed and worried that I will NEVER get my money back. I WILL NEVER AND I REPEAT NEVER DEAL WITH THEM AGAIN. THERE IS SOMETHING TO BE SAID ABUT DOING BUSINESS WITH LOCAL BANKS. BEWARE UNLESS YOU ARE RICH AND CAN AFFORD TO TAKE A CHANCE. I FEEL LIKE I'VE BEEN SCAMMED!

Is this review helpful? ▲ Yes 6 ▼ No 0

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Bank Rates

NAME RATE (APY) MIN TO EARN APY Min Deposit
Online Savings Account

0.85%

$0

$500

NAME RATE (APY) MIN TO EARN APY Min Deposit
Money Market

0.70%

$50,000

$2,500

Money Market

0.70%

$2,500

$2,500

Money Market

0.70%

$5,000

$2,500

Money Market

0.70%

$10,000

$2,500

Money Market

0.70%

$25,000

$2,500

Money Market

0.80%

$100,000

$2,500

NAME ANNUAL FEE INTRO APR REGULAR APR
Discover it®

$0

0.00%

10.99% - 10.99%

Learn More
Discover it®

$0

0.00%

10.99% - 10.99%

Learn More
NAME ANNUAL FEE INTRO APR REGULAR APR
Discover it®

$0

0.00%

10.99% - 10.99%

Learn More
Discover it®

$0

0.00%

10.99% - 10.99%

Learn More
Discover it® chrome for Students

$0

0.00%

12.99% - 12.99%

Learn More
Discover it® for Students

$0

0.00%

12.99% - 12.99%

Learn More
NAME ANNUAL FEE INTRO APR REGULAR APR
Discover it®

$0

0.00%

10.99% - 10.99%

Learn More
NAME ANNUAL FEE INTRO APR REGULAR APR
Discover it®

$0

0.00%

10.99% - 10.99%

Learn More
Discover it®

$0

0.00%

10.99% - 10.99%

Learn More
Discover it® for Students

$0

0.00%

12.99% - 12.99%

Learn More
NAME ANNUAL FEE INTRO APR REGULAR APR
Discover it®

$0

0.00%

10.99% - 10.99%

Learn More
Discover it®

$0

0.00%

10.99% - 10.99%

Learn More
NAME ANNUAL FEE INTRO APR REGULAR APR
Discover it® chrome for Students

$0

0.00%

12.99% - 12.99%

Learn More
Discover it® for Students

$0

0.00%

12.99% - 12.99%

Learn More
NAME RATE POINTS FEES
5/1 ARM

3.00%

1

N/A

TERM RATE (APY) Min Deposit
3 Month CD

0.35%

$2,500

6 Month CD

0.65%

$2,500

9 Month CD

0.70%

$2,500

12 Month CD

1.00%

$2,500

18 Month CD

1.05%

$2,500

24 Month CD

1.15%

$2,500

30 Month CD

1.20%

$2,500

36 Month CD

1.30%

$2,500

48 Month CD

1.65%

$2,500

60 Month CD

2.10%

$2,500

84 Month CD

2.20%

$2,500

120 Month CD

2.30%

$2,500

TERM RATE (APY) Min Deposit
3 Month CD

0.35%

$2,500

6 Month CD

0.65%

$2,500

9 Month CD

0.70%

$2,500

12 Month CD

1.00%

$2,500

18 Month CD

1.05%

$2,500

24 Month CD

1.15%

$2,500

30 Month CD

1.20%

$2,500

36 Month CD

1.30%

$2,500

48 Month CD

1.65%

$2,500

60 Month CD

2.10%

$2,500

Banking Fees

Type Fee National average
Monthly Inactivity

N/A

$7

Non-Sufficient Fund (Overdraft)

$30

$30

Stop Payment item

$15

$27

Return Deposit

$15

$14

Domestic Wire Transfer (Outbound)

$30

$22

Domestic Wire Transfer (Inbound)

$0

$9

Non-Bank ATM

$0

No Fee, No Refund

$1