I currently want to migrate out of a joint Citibank Basic account with my mom and I only have 200 bucks in the bank (it's in my checkings as the $1,500 in savings is my mom's money that I'm not allowed to touch and is only there so I don't have a monthly maintenance fee) and I'm looking at several high yield banks with no fees. I don't have a job yet though I have one set up and also I'm going to apply for SSI. My top contenders are Capital One 360 and the Discover Bank. Let me know what you'd recommend.

Me and my wife have a credit card with discover. And cap1. We were going to both get our own separate checking accounts on Discover, after reading about the merger "Cap1 plans to move debit cards to Discover Q2 2025". With this in mind should w open a checking account with Discover, or Cap1 and let them move us to the Discover network? One big thing is instant transfers. With Discover my debit card does not allow instant transfers coming in, via Apple Pay. Cap1 allows instant transfers. Not sure if that is a Discover Network or Mastercard deal or Cap1 vs Discover deal.

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!!

Hello, 

I am in my thirties and am finally trying to get a handle on learning proper ways to save by using certain banks etc, very new to these things and would love some advice. I was just about to open a savings account with Discover but have been reading online about peoples concerns of capital one buying. Now I feel stuck and don’t know if it is worth doing this now vs using something totally different.

BACKGROUND

• I have been with Chase over a decade with all my funds in a checking account and have been realizing I’m not earning money with them hardly at all. 

• I have a discover credit and love that they give me cash back. They do have a savings account option I just found out about.

GOALS

• Maybe keep Chase with small amount of funds so I can get cash at a local branch whenever needed and so I can transfer money into my discover savings account, since I am not close to a Walmart.  

• Move majority of savings into a discover savings account so I can earn money vs having basically nothing happen with Chase.

CONCERNS

With capital one buying, I see most people only complaining about customer service, not sure if I should care more about this as utmost priority, but I am mainly concerned of:

1. Capital one changing or removing Cash Back Percentages completely.

2. Capital one removing Minimum Savings Account Balance of $0 currently with discover.

3. Hassle of transferring most of my funds into a discover savings account, then less than a year from now having to shut it all down due to Capital one changing things and then starting over with someone else.

What are your thoughts and if you have any suggestions of other alternatives? I don’t mind online banks, I just want whatever plan that will make me the most money in the long run vs using only Chase. Located in CA.

Hi everyone!

Looking to switch from my Chase total checking account to one of the following:

-Discover -Capital One 360 -Bank of America

Which is the best option? I’m looking for a bank with easy online banking, options to pay with Zelle, potential to open a savings account with the bank, overdraft protection, low/no minimum fees, and good customer service.

Thanks!

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.

I just turned 18 and I’m looking for a bank where I can do my everyday banking with, after doing my research I found that Capital One and Discover work best for my needs with discover having better benefits of course.

After reading what happened with capital one buying discover, I’ve been on the fence about which bank I should use because the most important factor to me is their secured credit cards, since I need to start building credit and establish a good credit score. Since this line of credit will be my first I want to keep it alive as long as I can so I can have a strong credit history but I don’t know if it would be a good idea to bank with discover anymore because with everything happening there’s a lot of uncertainty with what’s going to happen to discover.

I guess my question is should I take advantage of the benefits from discover but risk the life of the line of credit and potentially my main form of banking within the next few years or should I play it safe and just go with capital one with slightly worse benefits but security within the stability of their bank and not have to risk losing benefits due to capital ones restructuring of discover.

EDIT: To anyone who is wondering, after some consideration and very helpful advice/perspectives on the situation from this tread I decided to go with discover and take advantage of their benefits. The main factor why I did this is because since I have no credit history I essentially have poor credit and if I were to get a CC from Capital One I would probably be bucketed and never get a credit increase so that means if I go with Discover and they merge and get heavily restructured with Capital One I would already have a good credit score and would have a better experience at Capital One.

The best part of this decision is that I got pre approved for the Discover It CC so I winged it and applied since the worst case scenario was just getting the Secured version. And would you guess what, they accepted me for a $1,500 credit line with no credit history :) I’m going to enjoy being with Discover while it lasts, let’s hope that regulators deny this merger.

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

Hi,

Has anyone opened a HYSA from Capital One for their sign up bonus before? I see a lot of people recommend Discover's HYSA, and right now they have a sign up bonus where you get $150 if you deposit $15000 or $200 if you deposit $25,000, but I noticed Capital One also has a sign up bonus right now where you get $100 for every $10,000 you deposit up to $500. Both banks don't have a minimum balance requirement, and Capital One actually has a slightly higher interest rate currently. Are there any advantage or disadvantages over either banks?

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

I just opened a discover savings account yesterday and have scheduled my balance from my other bank to be transferred. Following Capitan one’s acquisition, should i put this off or go ahead? I’m relatively new to banking in general so I dont know what to do.

Hey! i currently have capital one bank and discover bank looks like it's better because of better customer support hours. has anyone had both and prefer one over the other?

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?

A few years back I had an issue with Capital One Bank and decided to move my money to the Discover high yield savings account. Now of course as everyone knows, Capital One took over Discover.

With the problems I've had in the past with Capital One, I'm very leery to stay with Discover now that they are controlled by Capital One. Any thoughts on this by the experts on here? Should I move away from Discover?

I’ve been debating between opening a Capital One 360 or a Discover checking account (the one with the 1% cashback). I’ve already looked into the features, but I’m more interested in how they actually work day to day.

If you’ve used either one or both, what was your experience like? How’s the app? Any issues with transfer times, fraud alerts, ATM access, or customer service?

Capital One has the advantage when it comes to physical locations and ATMs. Discover’s cashback sounds good, but I’m not sure if it ends up being worth it or if there are any restrictions they don’t really advertise.

If you’ve used both, which would you recommend and why? I would appreciate any insight and thanks in advance!

Made an account with all three, leaning mostly towards sofi because of the interest rate (I have direct deposit) and the “split my paycheck” feature to different vaults, thoughts?

Cap One is still at 3.5 percent, interestingly.

I know the credit card will but with the checking or savings accounts transfer as well?