Forum Thread

Discover savings account question

526 111 October 9, 2017 at 02:09 PM
Deal
Score
0
1,793 Views

Thread Details

0 Deal Score
1,793 Views
I recently opened discover savings account. To deposit opening balance, I gave my savings account number. After I gave the number, the website said that it will do two small trial deposits and "reverse those" after that. Now problem with savings accounts is, withdrawals are limited to 6 per month, so if they reverse those two small deposits then it will consume 3 (including actual opening deposit withdrawal) withdrawals out of 6 !
Anyone knows if they actually reverse those trial deposits or that is just boilerplate text. I am sure if I call their reps would just read off the website.

7 Comments

1

Sign up for a Slickdeals account to remove this ad.

This comment has been rated as unhelpful by Slickdeals users
Joined Nov 2006
disgruntled caveman
31,475 Posts
1,933 Reputation
#2
Quote from meranamjoker
:
I recently opened discover savings account. To deposit opening balance, I gave my savings account number. After I gave the number, the website said that it will do two small trial deposits and "reverse those" after that. Now problem with savings accounts is, withdrawals are limited to 6 per month, so if they reverse those two small deposits then it will consume 3 (including actual opening deposit withdrawal) withdrawals out of 6 !
Anyone knows if they actually reverse those trial deposits or that is just boilerplate text. I am sure if I call their reps would just read off the website.
They do, but it might not count against your 6 withdrawals per month. I'd contact your funding bank to inquire.

You'll see the two deposits immediately removed. You'll just type in the funds in the discover website to verify your account.
Reply Helpful Comment? 1 0
I heart slickdeals:

$12: 10 (good!) DVDs
$138: Zen X-Fi 32 gb
$4: ToyStory 1&2 BR/DVD + 2x TS3 movie tix
$45: 8 bags M&Ms+ 4Orville 6packs + 2 Redbox +3 blurays+ 2 DVDs+ 4 movie tix+ 1 Bisquick
$262: 50" LED TV
$281.99: mower+ 3 barstool+ 2 tailgate grill+ 6fertilizer+sawzall+4pillows+edger+swimsuit+2WiiU AfterglowPro +2sandals + sprinkler + 50' hose -- SYWR
One happy wife!
Running video game deal list: $155 bought me
3DS: DKCR, ALBW, PkmnY, MarioGolf, Starfox, FE:A
WiiU: NinLand, BatmanAC, AC4, W101, NG:RE, MK8, Pikmin 3, NSLU, 3DWorld, ZombiU
This comment has been rated as unhelpful by Slickdeals users
Joined May 2005
L5: Journeyman
526 Posts
111 Reputation
Original Poster
#3
Quote from bonkman
:
They do, but it might not count against your 6 withdrawals per month. I'd contact your funding bank to inquire.

You'll see the two deposits immediately removed. You'll just type in the funds in the discover website to verify your account.
i think they would since any electronic withdrawal would count. BTW i just found out that, they withdraw combined amount of two deposits. So there are two deposits but one withdrawal.
Reply Helpful Comment? 0 0
This comment has been rated as unhelpful by Slickdeals users
Joined Jun 2014
L5: Journeyman
995 Posts
682 Reputation
#4
Don't worry about the withdrawal from the bank verifying your Discover account because once you fulfill $15K or $20K deposits and it has posted, you can make one huge withdrawal and leave just enough to keep the account open until your bonus posts. I did this and left $20K parked a few days and pulled it out via ACH from my CU hub, my $200 bonus posted on 10/5.
Reply Helpful Comment? 0 0
This comment has been rated as unhelpful by Slickdeals users
Joined May 2005
L5: Journeyman
526 Posts
111 Reputation
Original Poster
#5
wow.. so you didn't even have to leave 15k/20k until bonus posted ?
Reply Helpful Comment? 0 0
This comment has been rated as unhelpful by Slickdeals users
Joined Jun 2014
L5: Journeyman
995 Posts
682 Reputation
#6
Quote from meranamjoker
:
wow.. so you didn't even have to leave 15k/20k until bonus posted ?
that's right! you just have to let your full target amount of $15K/$20K post and leave it there a few days (some have even pulled it out the next day after full amount posted) then pull most of it leaving an amount there to keep it open till the bonus posts. Once your bonus posts, you can decide whether to keep the account or close it; just keep in mind the max allowed w/d per month on a savings account is SIX, if you go over this, you'll be charged fees.
Reply Helpful Comment? 0 0
Last edited by mamabear209 October 15, 2017 at 07:44 AM.
This comment has been rated as unhelpful by Slickdeals users
Joined Dec 2013
L4: Apprentice
432 Posts
29 Reputation
#7
I have another question related to this. 8 months before i opened Discover savings account and got $100 as bonus. Now i am seeing another promo going on where i can get $200 if i deposit $20K. Can i open another savings account to get this offer or i have to new customer? Or can i open account in my spouse name and fund it thro my account, will there any issue if i do this.
Reply Helpful Comment? 0 0
This comment has been rated as unhelpful by Slickdeals users
Joined Jun 2014
L5: Journeyman
995 Posts
682 Reputation
#8
Quote from sd_puppy
:
I have another question related to this. 8 months before i opened Discover savings account and got $100 as bonus. Now i am seeing another promo going on where i can get $200 if i deposit $20K. Can i open another savings account to get this offer or i have to new customer? Or can i open account in my spouse name and fund it thro my account, will there any issue if i do this.
You have nothing to lose if you try since there's no chexsystem pull for savings BUT there are many reports they did NOT get another bonus when they applied for this higher bonus after getting the $100 one time. There's a new offer to get $150 on $15000 or $200 on $25000 on Discover savings that expire sometime Dec if I'm not mistaken. Google for details if interested.
Reply Helpful Comment? 0 0
Page 1 of 1
1
Join the Conversation
Add a Comment
 
Copyright 1999 - 2018. Slickdeals, LLC. All Rights Reserved. Copyright / Infringement Policy  •  Privacy Policy  •  Terms of Service  •  Acceptable Use Policy (Rules)  •  Interest-Based Ads
Link Copied to Clipboard