I’ve been looking for places to open up a HYSA and Discover seemed like the best fit out all the banks I researched. I strictly want to use Discover for my HYSA. I plan keeping my checking account with my current bank for the time being.

For the people in a similar boat (or anyone wanting to chime in) : What is your experience like? Any issues or complains? Is there any hassle moving money between banks / accounts?

Have any of you had an experience with Discover’s high yield savings account? I’m considering switching from my Citi savings account that offers nearly nothing on returns. Looking for your opinions and suggestions!

https://www.discover.com/online-banking/savings-account/

Edit: added link

I know this subreddit is mainly focused on credit cards, but I posted this here since it's from discover. I myself have the discover it credit card, and I realized they have a HYSA with 4.30% APY.

Could anyone recommend it? Or are there better alternatives?

Also, I would like to know about the interface of both of these, how well you like it, pluses and minuses

Anyone with discover and Amex savings? Discover and Amex checking? What do you thi of them both?

I currently have 3 Amex cards and the hysa at Amex.. I like how well the app works and that both the credit cards and savings are in one app. I don’t have Amex checking. Is discover all in one app? Credit cards, savings, and checking? Ty

I'm currently with Capital One, but I've been exploring other options recently. I want to be able to have eBills, which they don't support - for whatever reason. I've also been using my debit card for most purchases, rather than my CC as I'm paying off a good bit of debt from when I lost a significant chunk of hours, so the 1% cashback is nice. So, if you use their checking/savings, what's your experience with it? Good and bad.

Just opened one. What has been everyone’s experience? I opened it due to the higher interest return. Thanks in advance.

Hi everyone! I use discover for my credit card and was thinking about switching my checking and creating a High Yield Savings account with them. Any thoughts or advice on switching? I wanted to have multiple savings accounts to save for different things, does discover make this easy to do?

I’m curious is Discover savings account good because although this subreddit usually focuses on credit cards, Discover offers a high-yield savings account with a 4.30% APY, which caught my attention since I already have the Discover It credit card. Would anyone here recommend it, or are there better savings account options with a higher APY or better features?

I want to start saving money for the long run since I'm still in college and finally have a stable part-time job, so after many research, I narrowed down to Discover Savings Account and Capital One 360 Savings Account. I am just asking if any of you guys have experiences using either accounts and what's your review so far? How is the user experience for either account?

My goal is to have a high APY savings account, with not so difficult access to my money in case of an emergency. I can wait for 3-5 days to receive my money from my savings account, but I really do not want to wait longer than that to access my money. I have been reading many reviews on Capital One 360, with most of them are positive reviews, however, those reviews are from 1-2 years ago, and I also came across some number of negative reviews on Capital One 360 about their redesigned website and user interface. I also read some alarming reviews about Capital One loosing your money and transfer your money to the wrong account. I have no idea about the credibility of those reviews, but they are serious enough that I am hesitant to sign up with them.

As for Discover Savings Account, I have only read positive reviews so far, there were no negative reviews that stick to my mind. My only problem with them is the continuing decreasing APY. Discover's APY decreases so frequently, last week when I checked, their APY was 1.90% and now it went down to 1.85%. Back in late August when I checked their APY was 2.01%. I know APY also correlated to the economy as well, but I want to be with a bank that changes the APY less frequently.

After watching countless YouTube reviews, I opened a discover bank account yesterday. Been wanting a bank with excellent customer service as well as the Option for multiple savings accounts. However, after seeing the insane amount of people talking about their accounts getting locked and even closed in some cases, now I think I'm just going to close it. One or two is one thing, but reddit is FULL of them. It's pretty wild to me, I've had discover credit cards for years and never had an issue but this banking problem seems to be a recent thing.

Now I'm looking at Capital One 360. If anyone switched from Discover to Capital One, can you share your experience? Thanks.

UPDATE: Wanted to come back here and let everyone know I ended up switching to Capital One 360. So far, I'm very pleased. I had one time that I needed to call customer service, and everything was handled in about half an hour. I was able to open several savings accounts for my sinking funds, and they allow you to deposit cash at target and CVS. Quite happy so far if anyone had a bad experience with discover and needs another option.

Looking at opening a high yield savings account and the % looks very good on discover but what’s the catch? At like SoFi you need to add $5k every month to get 4% but I don’t see anything like that at discover

I recently came to know about the money market account offered by discover and got curious about its benefits.

My understanding so far is that money market account has combined benefits of Checking+Savings (4.35%) account, however with a little lesser APY (4.2%).

Now what I’m wondering is if I let go of the additional savings from savings account, can I then use money market alone instead of Checking+Savings account?

I’m sure I might be missing something here. Please enlighten me..

Asking for feedback and opinions/advice.

I am constantly getting emails telling me that I can earn 5x more if I use their services for savings.

Does anyone use Discover as a bank for their savings and if so, what do you think?

Thanks!!

I have a credit card with Discover and I was thinking about opening a high yield savings account with Discover. The 3.3 percent interest rate looks pretty solid. I have a few questions though.

1. I have read about account freezes when security issues pop up, which makes me nervous. Is this still common?

2. Speaking of security issues, I have a Discover credit card which I use at grocery stores, gas stations, etc. A couple of times I've gotten credit cards stolen due to skimming devices on gas pumps, etc. Usually when this happens, the thief is able to use my credit card account to purchase items until the fraud is caught, then the account is frozen and the money is credited back to me. Question: if my Discover credit card were to get stolen, would the thief have access to the funds in my Discover high yield savings account? I know these are two different accounts, but I am just trying to play it safe.

3. I see that Discover offers companion checking accounts too, but I have read they are not currently offering checking accounts. Is that still true, or are they offering checking accounts again? Also, I have heard that you can add cash to your Discover checking account at Walmart. Is this true?

I currently have a savings account with Wells Fargo but as most of you guys know, the interest is low… very very low. I’m talking .01% low but discover gives 4.3%. Should I transfer my savings to a savings account in discover? Will there be a fee? Will I be scammed? Am I gonna be penalized by Wells Fargo? And how easily can I transfer money from my checking a Wells Fargo to savings discover account??

Edit: sorry I should’ve mentioned that I’m below the age of 24 and so I do not have monthly charges or annual charges of any accounts. I believe…

Hey y'all, just wanted some advice on whether I should open a savings account with discover. I've been with discover for about 3 months and have a checking + money market account.

What I want to know is if there's really a need to get one since it's basically just a money market. I mainly want to save up any gift money I've received for long-term goals, but if anyone has had experience with having both a mm and savings at the same time. Could I essentially have both, using the mm for short-term goals and savings for long?

I went to check on my Discover bank account and the interest rate on the savings account has dropped again. It is now 4.25%.

If you have one or both of these account how do you like it?

I currently have SoFi which I have been happy with but I am a fan of my discover Credit Card and think I’d like to have a one stop shop.