I’ve had an account but haven’t really used it. Recently had some concerns with my main (Huntington) so am debating about moving things over.
I already have a debit card, but how hard would moving my paycheck into it?
Would I have a longer hold time as a newer customer?I’ve been a member since January 2022, if that helps any. Does discover offer early pay?
Folks who have a Discover checking account, what are your thoughts on it? What are the good and bad parts about it? Especially if you've had the account for some time.
I'm thinking about switching, but l'm still on the fence about it.
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Hey guys, just wanted to know what your thoughts and opinions are on Discover Banking? Is it a pretty good checking account? Any problems or anything? I want a bank account but just not sure who I should go with. Any perks to Discover Banking? Any downsides? Just wanting to hear from people that use it themselves or have had an experience with it.
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.
I currently have 4 different checking/savings accounts spread across 3 banks (I’ve moved around a lot). Thinking about consolidating all of them and just using Discover mainly for the very good interest rate they have in their savings account. Is this a good/bad idea?
Thanks for the help!
I haven’t had any issue with Discover. I have several savings and a checking account with them.
If you deposit paper cash, you'll need a brick-and-mortar account to do that. Maintaining one account at a credit union that offers shared branching, like DCU, may be wise.
Discover is fine as an online bank. I'd check that Discover offers fee-free ATMs near you.
If you’re looking for a cash back debit card try Affinity Federal Credit Union. Same 1% cash back on all debit purchases, but the spending cap is only $1000 for the cash back. Still, at least they’re taking apps and their debit card has no issues with contactless pay. Also, if you find a referral link, there’s a $100 sign up bonus once you get at least $100 direct deposited into your account. They also use Zelle. I love Discover’s credit cards and the customer support they provide for them, but they’re really disappointing me on the banking side with all of this.
It's not known, but since the six withdrawal per month limit is lifted for the time being, Discover's Money Market account has everything that the checking account has aside from cashback.
Hello
I just opened a Discover Checking account, but this was before I saw all the negative information about them closing accounts randomly and holding the money for 60 or more days for seemingly no reason. I noticed that the majority of these posts were from 2022, is this still an issue in Jun of 2024? I don't want to move all my money and direct deposits if this is the case, but if anyone has any real input about if they stopped doing this that would be great.
Thanks!
I will say, I personally never had a problem with them. However, I don’t keep all of my eggs in one basket. I use 3 different banks for checking and savings. The reasoning behind it is because if 1 account becomes compromised or whatever hold up there is at 1 bank, I still have options at others.
I don’t know how many times I’ve read frustrations with banks dragging their feet on deposits or someone’s accounts getting taken over by someone else or accounts being frozen for fraud or outages. But it was enough to make me consider doing my banking a bit differently.
It is fine. It will most likely become Capital One sooner than later though.
Honestly it seems like Discover is the top when it comes to everything for a checking account, but what do y’all thing are things it’s missing? I realized that one thing I might need to do one day is withdraw a large amount of cash but then I saw the checks are free to order so I can just be an old grandma lmao
I opened a checking account. Overall I love Discover for credit, and am even a long term investor in Discover. I wanted to change my primary banking to Discover as it is simpler mobile banking, and no monthly fees.
I make MANY large transactions per month. Payroll comes in, and ACH to brokerage accounts, rent, etc goes out. Some transactions are in excess of $10,000 at a time. Furthermore I almost never use a Debit card and only spend on credit card. Basically my checking account is more of a middleman for funds outgoing to other places, rather than me spending from it.
What challenges will I expect to see? I noticed back in 2022 there was a lot of automatic account freezing. I'd like to make Discover my primary bank account, and move my funds over this month.
I had discover checking for probably more than 5 years. Except for obvious lack of physical locations never had any major problems. Well, one time I had to transfer money in internationally and it was a little more work than usual bank (because it has to go through third party correspondent bank). Other than that mostly positive experience. Bonus - 1% cash back for up to $30 using debit card
I just opened an account with them and will be funding it tomorrow , I'm currently with Charles Schwab but wanted something more modern so discover it is , I also have discover credit card . I read lots of reviews on nerd wallet and it's a go
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.
I am thinking about creating a Discover checking account. I know that discovers’ customer service is legendary, but is their checking account solid and reliable? For those of you that have experience with Discover checking account, Please give me your opinions, Thanks for your help!
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.
I'm considering switching from Ally checking to Discover. Ally is ok but I've had a Discover credit card for years and their customer service is always stellar (hope that doesn't change once the Capital One merger happens 😒). Anyone have any experience with Discover's checking account?
Does anyone know when Discover checking and debit accounts will be available?
I am actually quite impressed that Discover, a major company, actually said "No, that's enough" and just closed it off to everyone. And then said "We'll be back soon" cause they're just trying to get their ish together and right for customers. Since I've been on reddit, I have been enlightened by so many pros who have provided so much advice on money. I do love this part of Reddit. I started on the finance part of the app (back in 2022) to figure out when Discover checking would be back and now, I have ibonds and CDs because of the Reddit people. Thank you 🥰
about a month ago a rep told me they don’t really know themselves but are hoping for May
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?
and do you utilize the debit card? or use other credit cards?
I have a credit card and savings account with discover, and am wondering if I should transfer my checking account (local bank, no cash back) to a discover checking account (1% cash back, as far as I know). I don't mind not being able to walk into a physical branch as well as not being able to deposit cash. Should I make the change over? Any advice? Last thing, I've heard that using a debit card in public stores or atms is dangerous, what's that about? Ideally, I would use my credit card for all small purchases, and hopefully a debit card for ultities and rent and such. Thanks!
Think of any reasons you actually need a physical bank and if it's worth not having that.
With Discover you can deposit checks through the app. If you get a ton of cash constantly then it might not be the choice for you. I just stash any cash I have in my underwear drawer for emergencies and it's not that much. So it's worked for me.
I haven't checked in a while. Are you sure Discover checking is 1% back and not 10 cents per debit card use?
Either way the Discover savings is 1.6% so you'd be better off having all your money in that and only keep what you need in the checking.
If someone gets your debit card and runs it for $2,000 that money is essentially gone instantly. Yes the bank can reserve the charge, eventually, but you could run into a pain in the ass. A credit card for one isn't posted immediately, and you have until the bill is due to actually be worrying about it. The charge would be reversed well before then.
Credit cards offer better cashback and have things like car rental insurance, etc. I'd put everything you can on a credit card even utilities if allowed.
I use all three and have not had a problem with it yet. It's all online, but I actually live close enough to the one physical location that I could go if I needed to.
IMO I would simply do it since you'd have all your finances in one app.
About a month ago I did quite a lot of research trying to narrow down the best checking account for my needs. After hours I finally landed on Discover only to find out that they shut down checking acct applications and won't be re-opening them until some unknown date. I'm tempted to just sit tight, which won't be convenient, but I figured it may be worthwhile.
In hopes of finding out more about when the applications may re-open I began reading this sub, and I'm seeing quite a lot of discontent. I was under the impression that Discover CS was basically second to none, so I was surprised to see all the complaints.
Setting aside any issues with Zelle (as that's not my intended use) would those of you who have Discover Checking still recommend it over the other options such as Ally, Capital One, Schwab, etc?
Is there really no fees and no minimum balance needed in account? I hate how banks will make you keep a minimum in account like $100 and then charge a overdraft fee if you’re below that since Im broke and kinda need to spend every dollar I have😭. Saw that discover charges no fees and no minimum but I’m in disbelief so is that actually true?
Anyone have a discover bank checking/savings account? I was wondering how you deposit money without fees and can you create sub accounts (like mutiple savings under the main checking account) ?
I have a checking and savings account with Discover and I recommend them. You can deposit checks and money orders via mobile deposit in the app, or transfer money from other accounts online, all with no fees. They don't have an option for "sub accounts," but you can open as many savings accounts as you want to if you want to separate your money for different goals.
I have 1 checking (as is there limit) and two savings accounts with Discover. I've never had to pay any fees. I've always never had to deposit money as my paychecks are direct deposited in my accounts.
I do have a brick & mortar checking account also however and whenever I rarely need to transfer from my Discover to the B&M, I just initiate the transfer from Discover's side.
As mentioned, I have two savings accounts: one for my emergency fund & the other for long/short term goals. If you have multiple goals & want to open multiple savings accounts, then the choice is yours. I personally choose to have one & do the math in my head in regards to separate goals.