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forum thread Posted by newbharry • Sep 10, 2023
forum thread Posted by newbharry • Sep 10, 2023

Discover bank ymmv existing account deposit 15k for 150$ or 25k for 200

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This is a an announcement to check your email for this good deal. Please refrain from the blahblah treasuries and stock market talk. We get it, but this is a great deal for savings.

Got an email as an EXISTING customer. The apy right now for their savings account is at 4.3% now. It's decent but not as good as Marcus (5.45% for me).

However, this deal is depositing 15k and get $150 after only 30 DAYS! (Or 25k for $200).

The yield is better with 15k but 25k isn't bad.

200$ for 25k is around 8.9% yield for 1 month, + 4.35% apy makes this a "no risk" 13% return.


Make sure to check your email!!


If you'd like to claim your bonus, here's how it works–you have $0.05 in your Online Savings Account. Using the $150 bonus as the example:

Deposit New Funds: Add $15,000 to your Account for a total Hold Amount of $15,000.05 by 9/29/2023. You can make one or more deposits of New Funds totaling $15,000 or more before 9/29/2023. New Funds are defined as not currently on deposit at Discover or transferred between Discover accounts. Please allow for deposit processing and hold times as it may result in not meeting the offer end date on 9/29/2023.

Maintain Your Hold Amount: Keep the new Hold Amount of $15,000.05 in your Account until 10/30/2023. You can make additional deposits or withdrawals during this Hold Period provided the Hold Amount remains $15,000.05 or more.

Enjoy Your Bonus: If your Hold Amount is still $15,000.05 or more when the Hold Period ends on 10/30/23, your $150 bonus will be automatically credited to your Account by 11/30/2023.
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Deal Details
Community Notes
About the Poster
This is a an announcement to check your email for this good deal. Please refrain from the blahblah treasuries and stock market talk. We get it, but this is a great deal for savings.

Got an email as an EXISTING customer. The apy right now for their savings account is at 4.3% now. It's decent but not as good as Marcus (5.45% for me).

However, this deal is depositing 15k and get $150 after only 30 DAYS! (Or 25k for $200).

The yield is better with 15k but 25k isn't bad.

200$ for 25k is around 8.9% yield for 1 month, + 4.35% apy makes this a "no risk" 13% return.


Make sure to check your email!!


If you'd like to claim your bonus, here's how it works–you have $0.05 in your Online Savings Account. Using the $150 bonus as the example:

Deposit New Funds: Add $15,000 to your Account for a total Hold Amount of $15,000.05 by 9/29/2023. You can make one or more deposits of New Funds totaling $15,000 or more before 9/29/2023. New Funds are defined as not currently on deposit at Discover or transferred between Discover accounts. Please allow for deposit processing and hold times as it may result in not meeting the offer end date on 9/29/2023.

Maintain Your Hold Amount: Keep the new Hold Amount of $15,000.05 in your Account until 10/30/2023. You can make additional deposits or withdrawals during this Hold Period provided the Hold Amount remains $15,000.05 or more.

Enjoy Your Bonus: If your Hold Amount is still $15,000.05 or more when the Hold Period ends on 10/30/23, your $150 bonus will be automatically credited to your Account by 11/30/2023.

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Original Poster
Sep 10, 2023
1,184 Posts
Joined Apr 2011
Sep 10, 2023
newbharry
Original Poster
Sep 10, 2023
1,184 Posts
Btw..

If you have Multiple ACCOUNTS At discover already, you could potentially move the money out FROM the other accounts to another institution,and transfer into the specific targeted account to qualify. I did this last year and confirmed.

Just make sure the money has to go DIRECTLY from another financial institution to the specific targeted account to qualify as new money
Sep 10, 2023
389 Posts
Joined Apr 2017
Sep 10, 2023
nilbatey
Sep 10, 2023
389 Posts
Op, I am wondering how you managed to get 5.45%. form Marcus?
Original Poster
Sep 10, 2023
1,184 Posts
Joined Apr 2011
Sep 10, 2023
newbharry
Original Poster
Sep 10, 2023
1,184 Posts
Quote from nilbatey :
Op, I am wondering how you managed to get 5.45%. form Marcus?
I have AARP which gives .1% bonus.
I did 5 referrals early 2022.. each referral gives 1% bump for 3 months. So that's like 1.25 year of 1% bump...
Sep 10, 2023
389 Posts
Joined Apr 2017
Sep 10, 2023
nilbatey
Sep 10, 2023
389 Posts
Quote from newbharry :
I have AARP which gives .1% bonus.
I did 5 referrals early 2022.. each referral gives 1% bump for 3 months. So that's like 1.25 year of 1% bump...
Wonderful, thanks for the information.🙏
Sep 11, 2023
47 Posts
Joined May 2023
Sep 11, 2023
SensibleField4042
Sep 11, 2023
47 Posts
Betterment has 5.5 with a boost untill end of the year
Original Poster
Sep 12, 2023
1,184 Posts
Joined Apr 2011
Sep 12, 2023
newbharry
Original Poster
Sep 12, 2023
1,184 Posts
Quote from SensibleField4042 :
Betterment has 5.5 with a boost untill end of the year
Yeh but the 30 days for your 15k or 25k will yield more.. and it's for existing account.. so. It not like you are opening a new account.

The yield on the 15k or 25k is effectively around 16%
Last edited by newbharry September 12, 2023 at 07:10 AM.
Sep 18, 2023
20 Posts
Joined Sep 2012
Sep 18, 2023
seanc9781
Sep 18, 2023
20 Posts
Thanks OP. I checked my mail and have the same $150 bonus offer. Thank you for the heads up; I would have missed out.

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Sep 18, 2023
726 Posts
Joined Oct 2014
Sep 18, 2023
yeahok
Sep 18, 2023
726 Posts
what's the subject in email?
Sep 19, 2023
579 Posts
Joined Sep 2023
Sep 19, 2023
RockHardRockCrawler
Sep 19, 2023
579 Posts
Wow I just deposited $15k at the start of this month. Can I pull the money out and put it back in to qualify for the $150?
Original Poster
Sep 20, 2023
1,184 Posts
Joined Apr 2011
Sep 20, 2023
newbharry
Original Poster
Sep 20, 2023
1,184 Posts
Quote from RockHardRockCrawler :
Wow I just deposited $15k at the start of this month. Can I pull the money out and put it back in to qualify for the $150?
No unfortunately

But what's doable is moving money FROM another discover bank account to an outside bank, and transfer that in..

What doesn't count is if it directly transfers from that discover bank to the designated one

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