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($200/150) Discover Online Bank Signup Bonus

+29 Deal Score
38,861 Views
Discover is offering a signup bonus again on their high yield savings accounts.

$150 if you deposit $15,000 or more
$200 if you deposit $25,000 or more


Offer ends 6/15. Current rate is 3.75%, not as high as other places but others don't offer a bonus and discover service has been great for me.

https://www.discover.com/online-b...gs-lng-04/

QA note: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code GOBR223 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
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($200/150) Discover Online Bank Signup Bonus
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Created 05-07-2023 at 04:11 PM by bigrich147
in Personal Finance (8) Discover.com
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Score +29
38,861 Views
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Joined Aug 2021
L3: Novice
> bubble2 228 Posts
333 Reputation
Pro
Kheiri23
05-09-2023 at 08:45 PM.
05-09-2023 at 08:45 PM.
jist got mine yesterday took about a month and a half.
Reply
Joined Oct 2014
L5: Journeyman
> bubble2 954 Posts
1,147 Reputation
Pro
everestsun
05-09-2023 at 10:44 PM.
05-09-2023 at 10:44 PM.
Quote from coolraaj15 :
Where do you usually move for 4.75%, without creating CD. I do keep in RBH, without investing, my other investment are there too.
2 Money Market funds that can be bought from some brokerages (not all brokerages)

Schwab Value Advantage Money Fund SWVXX current yield 4.84% https://www.schwabassetmanagement...ucts/swvxx

Vanguard Treasury Money Market Fund VUSXX current yield 4.73% https://investor.vanguard.com/inv...usxx#price
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Joined Dec 2012
L7: Teacher
> bubble2 2,386 Posts
2,172 Reputation
Expert
This user is an Expert in Computers
coolchicagoguy
05-10-2023 at 12:27 PM.
05-10-2023 at 12:27 PM.
Quote from HonestRaccoon2312 :
I signed up through this link but I forgot to enter the promo code stupidly... any advice on what to do next? Cancel my transfer?
Call Customer Service to see if they will be able to add.
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Joined Aug 2020
L3: Novice
> bubble2 237 Posts
SloppyBuckS
05-10-2023 at 06:39 PM.
05-10-2023 at 06:39 PM.
I absolutely love discover! I worked for them 20 sun years ago when they were not as big. I have always had a discover card and got a checking/savings right when it came out. They by far have the best customer service, generous cashback credit cards, and a cashback debit card for checking. 100% would recommend this bank for anyone on the fence about a online bank.
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Joined May 2015
L3: Novice
> bubble2 148 Posts
52 Reputation
Exposure
05-11-2023 at 09:23 AM.
05-11-2023 at 09:23 AM.
Quote from gcretro :
I signed up 3 days ago, Friday. I have not made deposits yet. Will customer service honor this promo?
I just got an email on instructions for existing customers to received $150 cash bonus for a $15k deposit by 5/31. There are more requirements, check your email or call Discover customer service
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Joined May 2023
New User
> bubble2 2 Posts
10 Reputation
NavyStew5182
05-12-2023 at 12:19 PM.
05-12-2023 at 12:19 PM.
Quote from TurboSri :
I opened the account by applying the code. And, about a couple of weeks after I deposited the money, I received the bonus.

I then went ahead and closed the account, as I ended up moving the money to a different HY savings account that pays ~4.75%.

what is the easiest way to close it?
Reply
Joined Sep 2011
L6: Expert
> bubble2 1,092 Posts
59 Reputation
jack250
05-12-2023 at 03:14 PM.
05-12-2023 at 03:14 PM.
Never use the online bank. How to deposit money to it? and how to get cash out? I have to pay fee to use the discover card to get cash?
1
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Last edited by jack250 May 12, 2023 at 03:54 PM.

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Joined Apr 2020
L3: Novice
> bubble2 142 Posts
14 Reputation
Buffmuffin
05-12-2023 at 05:11 PM.
05-12-2023 at 05:11 PM.
How long do we have to have the account open for?
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Joined Sep 2008
L1: Learner
> bubble2 9 Posts
10 Reputation
nijelose
05-13-2023 at 06:25 AM.
05-13-2023 at 06:25 AM.
Watch out: For some reason, transfer out to another bank is taking a week.
Reply
Joined Feb 2011
L6: Expert
> bubble2 1,268 Posts
166 Reputation
indiaj0nes
05-14-2023 at 07:45 AM.
05-14-2023 at 07:45 AM.
Worst security on discover. I had money stolen through zelle and I did not even send
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Joined Feb 2021
L6: Expert
> bubble2 1,758 Posts
300 Reputation
nyc10036
05-14-2023 at 07:46 AM.
05-14-2023 at 07:46 AM.
delete
Reply
Last edited by nyc10036 May 14, 2023 at 07:50 AM.
Joined Feb 2021
L6: Expert
> bubble2 1,758 Posts
300 Reputation
nyc10036
05-14-2023 at 07:47 AM.
05-14-2023 at 07:47 AM.
Quote from SloppyBuckS :
I absolutely love discover! I worked for them 20 sun years ago when they were not as big. I have always had a discover card and got a checking/savings right when it came out. They by far have the best customer service, generous cashback credit cards, and a cashback debit card for checking. 100% would recommend this bank for anyone on the fence about a online bank.
Right now their interest rate is sitting at 3.75%. Bad.
Even Marcus is higher at 4.15%.

Reply
Joined Sep 2010
L6: Expert
> bubble2 1,652 Posts
207 Reputation
hardrock121
05-14-2023 at 01:37 PM.
05-14-2023 at 01:37 PM.
Quote from nyc10036 :
Right now their interest rate is sitting at 3.75%. Bad.
Even Marcus is higher at 4.15%.
when you factor in the addition 200 on 25k.. its technically equivalent to 4.5%.. so not bad,.
Reply
Joined Feb 2021
L6: Expert
> bubble2 1,758 Posts
300 Reputation
nyc10036
05-14-2023 at 02:04 PM.
05-14-2023 at 02:04 PM.
Quote from hardrock121 :
when you factor in the addition 200 on 25k.. its technically equivalent to 4.5%.. so not bad,.
I don't know how long you have to keep the $25K in the account to earn the $200.

If it is 3 months, it is more than 4.5%.

Using simple interest because I am not a finance whiz,
$25000 x 3.75% = $937.50
$937.50 รท 4 = $234.75 interest earned for 3 months
$234.75 + $200 = $434.375

To get $434.375 in 3 months, you would need 6.95% interest.
$25000 x 6.95% = $1737.50
$1737.50 รท 4 = $434.75

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Joined Sep 2010
L6: Expert
> bubble2 1,652 Posts
207 Reputation
hardrock121
05-14-2023 at 02:07 PM.
05-14-2023 at 02:07 PM.
Quote from nyc10036 :
I don't know how long you have to keep the $25K in the account to earn the $200.

If it is 3 months, it is more than 4.5%.

Using simple interest because I am not a finance whiz,
$25000 x 3.75% = $937.50
$937.50 รท 4 = $234.75 interest earned for 3 months
$234.75 + $200 = $434.375

To get $434.375 in 3 months, you would need 6.95% interest.
$25000 x 6.95% = $1737.50
$1737.50 รท 4 = $434.75
I calculated for 1yr but you are right if u get out right after 3 months once your get your 200 yea you made more technically. But better to keep it for some more time as they might have fine print which I didn't read about withdrawing soon.
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