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’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?

Got a thing in the mail today from discover advertising their online savings account. When looking online it says it has 3.5%APY, but that is as of today’s date and It can change. Does anyone have one of these accounts? Is it worth opening one and is your interest rate decent?

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%.

Cap One is still at 3.5 percent, interestingly.

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?

Its unfortunate that they didn't move to 4% - its competitive, but certainly not the best out there.

Hi everyone. I opened a Discover HYSA last week and have transferred $1000 to it so far. I'm a university student, and I've seen a lot on social media about opening a HYSA. Since I already have the Discover IT card, I went with the HYSA offered by Discover.

It says I have an APY of 4.25% and an Interest Rate of 4.16%. Is this bad? I'm not entirely sure what this means. I didn't realize HYSAs have interest rates so high.

When I looked at the website, all that it said was 4.25% APY, Daily/Monthly Interest Compounded/Paid, $0 monthly fee, $0 insufficient funds fee, and $0 minimum opening deposit. It seemed good enough to me, but now I can't help but regret opening it a little bit.

Did anyone get any notification that their HYSA dipped from 3.6% APY to 3.5%? Seems like Discover did this quietly, which I do not appreciate. Will be moving my funds to my other HYSA purely because I know that account will let me know of interest changes as they happen, instead of surprising me when I log into the app like Discover.

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 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…

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?

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

Apple offers 4.15% and few other banks have already gone above Discovers current rate.

I’d rather not move all my money again but do want the best APY……

Is

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

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.

Has anyone gotten this offer for $150 if you deposit $15,000 within 45 days and $400 if you deposit $45,000? I’m contemplating the offer but only if I can time it so that I can deposit $15,000 cash I have on hand in another HYS account and then have our direct deposits hit over the next 45 days to get us close to the $45,000 and figure out if I can find some more cash. My only question is - can I deposit and withdraw or does there have to be $45,000 total sitting in there at one time?