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$150 or $200 bonus for new Discover Bank customers

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***Updated promo code for this month, not sure if the URL is still the correct one, but use the new code CY320***

I found this on CreditDonkey. Either use the link, or enter promo code CY220 CY320 when signing up. What's slick about this deal:
1) Earns 1.60% APY, compounded daily, paid monthly
2) No fees, no early termination
3) The minimum time the funds must be in the account is 14 days (yes, that's right!) They must be new to Discover, and arrive by midnight 3/16, and they will give you the bonus ($150 for $15k, $200 for $25k) on 03/30/2020, and the only stipulation is your account must be open at the time the bonus is awarded.

By my math, this is an effective APY of 25% on $25k (you will yield ~$215.23 in the two weeks), or 31.67% on $15k (you will yield ~$159.14).


Note, must be a new account holder. Cannot confirm 100% if a joint account holder is eligible, although I *have* seen verbiage on prior deals that indicated for the purposes of determining eligibility, only the primary account holder was considered a customer.

https://www.discover.com/online-b...lXhT1KZWg0

https://www.discover.com/online-b...lXhT1KZWg0
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#2
Great idea great deal thanks for posting...
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#3
So still eligible if we have a Discover credit card correct? Sounds like you can't have already had a Discover savings account.
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#4
Quote from carlson03
:
So still eligible if we have a Discover credit card correct? Sounds like you can't have already had a Discover savings account.
can any one confirm?
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Joined Mar 2004
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#5
Quote from erictom
:
can any one confirm?
Yes you should still be eligible. I signed up last month, with already having a Discover card. Got the $200 bonus within two weeks after transferring the $25k.
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#6
My husband and I did this back when Discover was offering 2.1% interest this time last year. Now they have dropped it to 1.6%. Odd that the APR on our discover credit card didn't drop, as well. Strange.
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#7
Quote from JWPeters24
:
Yes you should still be eligible. I signed up last month, with already having a Discover card. Got the $200 bonus within two weeks after transferring the $25k.
thank you.
how about existing savings account?
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#8
Do you have to leave the money in the account until you get the bonus? It doesn't state that from what I could see
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#9
Quote from supurman182
:
Do you have to leave the money in the account until you get the bonus? It doesn't state that from what I could see
Good question...personally, I interpret what they state in the terms as implying the funds need to remain, but you're right, they do kind of leave the door open to that. However, I don't think it's worth the risk of missing out on the bonus to gain a couple bucks on a slightly higher rate elsewhere, etc., for the ~2 weeks the funds would sit there.
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Joined Jan 2010
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#10
Quote from LaughinGass
:
I found this on CreditDonkey. Either use the link, or enter promo code CY220 when signing up. What's slick about this deal:
1) Earns 1.60% APY, compounded daily, paid monthly
2) No fees, no early termination
3) The minimum time the funds must be in the account is 14 days (yes, that's right!) They must be new to Discover, and arrive by midnight 3/16, and they will give you the bonus ($150 for $15k, $200 for $25k) on 03/30/2020, and the only stipulation is your account must be open at the time the bonus is awarded.

By my math, this is an effective APY of 25% on $25k (you will yield ~$215.23 in the two weeks), or 31.67% on $15k (you will yield ~$159.14).


Note, must be a new account holder. Cannot confirm 100% if a joint account holder is eligible, although I *have* seen verbiage on prior deals that indicated for the purposes of determining eligibility, only the primary account holder was considered a customer.

https://www.discover.com/online-b...lXhT1KZWg0

Can confirm, if you sign up as a joint, then try to make another account alone, you will not get the promotion.

This promotion is pretty common, you just have to google promo codes for this type of online savings account. Pops up every couple of months.
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#11
Quote from young3
:
Can confirm, if you sign up as a joint, then try to make another account alone, you will not get the promotion.

This promotion is pretty common, you just have to google promo codes for this type of online savings account. Pops up every couple of months.
When you signed up as joint, were you also listed as primary? That difference matters.

I can't guarantee this applies to the current promo, but a very recent one that ended less than a month ago had more complete verbiage:

"What to know: Offer not valid for existing or prior OSA or CBD customers or existing or prior customers with savings accounts that are co-branded or affinity accounts provided by Discover. Eligibility is based on primary account owner. All accounts must be funded within 45 days of opening or they may be closed. Both your savings and checking accounts must be open when bonus is credited. Bonus will be credited to the OSA by 2/5/20. Bonus is considered interest and will be reported on IRS Form 1099-INT. Offer may be modified/withdrawn without notice."


Here's the reference to that one, which was also listed here on SD:
https://www.discover.com/online-b...&van=Dbank
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Last edited by LaughinGass February 20, 2020 at 01:20 AM.
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#12
Quote from LaughinGass
:
When you signed up as joint, were you also listed as primary? That difference matters.

I can't guarantee this applies to the current promo, but a very recent one that ended less than a month ago had more complete verbiage:

"What to know: Offer not valid for existing or prior OSA or CBD customers or existing or prior customers with savings accounts that are co-branded or affinity accounts provided by Discover. Eligibility is based on primary account owner. All accounts must be funded within 45 days of opening or they may be closed. Both your savings and checking accounts must be open when bonus is credited. Bonus will be credited to the OSA by 2/5/20. Bonus is considered interest and will be reported on IRS Form 1099-INT. Offer may be modified/withdrawn without notice."


Here's the reference to that one, which was also listed here on SD:
https://www.discover.com/online-b...&van=Dbank
This was based on the last time this promotion ran as well. Originally I opened an account, told my wife about it. She opened a separate account, however she listed me on the account as well, she didn't get the promotion.
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#13
99% of american dont even have $200 in bank acct, what a jije for $15k
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#14
Thanks for posting this deal.


It took quite awhile to do the online application and I finally had to call them to help me finish it.
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Hollander
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#15
I opened a Discover Bank Savings Account on 2/21/20 and transferred money in.

I already received the $200 bonus this morning. woot
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