discover savings account benefits - Brave Search

Is there a benefit to having a Discover bank account for me?

reddit.com › r › discover › comments › 1bxkzn9 › is_there_a_benefit_to_having_a_discover_bank

You still need an account to hold money for you to pay off your credit cards and transfer money to family. Where else would you keep it? Cash App is not FDIC insured so I would not recommend using them to keep your money Answer from YaBoiJJ8 on reddit.com

discover.com › home › 5 benefits of an online savings account

5 benefits of an online savings account

6 days ago - A Discover Online Savings Account can help you reach your goals with a high yield account. Learn 6 reasons to open a an online savings account with Discover.

discover.com › online banking › high yield online savings account

High Yield Savings Account - No Monthly Fees | Discover

December 10, 2025 - Open a high interest savings account that offers high yield interest rates with no monthly balance requirements or monthly fees.

Discussions

Is there a benefit to having a Discover bank account for me?

You still need an account to hold money for you to pay off your credit cards and transfer money to family. Where else would you keep it? Cash App is not FDIC insured so I would not recommend using them to keep your money More on reddit.com

r/discover

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July 20, 2023

Is the Discover HYSA a good choice for savings? Could anyone recommend?

A few of the CC companies have HYSA. I guess you go with the one who feel more comfortable with.. I ended up going with Amex as I have been a long time customer with them. It's sort of a bidding war right now. It seems every other month one of them ups the APY. You may need to look at how may times you can deposit or withdraw a month. Edit: I finally got an HYSA at the beginning of the year. At time it was below 4%. Maybe it started at 3.5% but can't remember at the moment. Bottom line is that a HYSA is better than your standard bank's saving account. More on reddit.com

r/CreditCards

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October 4, 2023

Savings account seems too good to be true ?

While it does sound too good to be true I can confirm I’ve had zero issues and Discover is a well established company so your money is safe. More on reddit.com

r/discover

32

3

May 13, 2023

Are my fears of Discover’s Online Savings account unfounded?

Just remember that people are more likely to take the time to post about negatives than positives. I'm sure that 98% of people have no problems whatsoever. More on reddit.com

r/discover

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July 18, 2025

People also ask

How do I open a Discover Online Savings Account?

Click here to open an account online. Call 1-800-347-7000 where you can talk to a real person from our customer service team.

discover.com › online banking › high yield online savings account

High Yield Savings Account - No Monthly Fees | Discover

How is interest on my Online Savings Account calculated?

Interest is compounded daily and credited to your account monthly.

discover.com › online banking › high yield online savings account

High Yield Savings Account - No Monthly Fees | Discover

Does my savings account provide the option to enroll in overdraft protection?

Yes, your savings account is eligible for enrollment in our overdraft protection service. Click here for more information about overdraft protection.

discover.com › online banking › high yield online savings account

High Yield Savings Account - No Monthly Fees | Discover

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discover.com › home › 4 benefits of using online savings accounts

4 benefits of an online savings account | Discover

1 month ago - Since you no longer have to spend time commuting to and from a bank branch, it’s easier to enjoy the benefits of an online savings account (think online transfers and direct deposit from your paycheck). This convenience will leave you with more time on your to-do list to better manage your finances.

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Home | Marcus by Goldman Sachs®

1 day ago - Annual percentage yield as of October 21, 2025. APY may change at any time before or after account is opened.

discover.com › home › 7 types of savings accounts you should know

Learn the different types of savings accounts | Discover

1 month ago - Saving money regularly in a savings account can help you make progress toward a number of goals, such as a down payment on a home or a secure retirement. A savings account can also serve as your emergency fund when unexpected expenses like home ...

reddit.com › r/discover › is there a benefit to having a discover bank account for me?

r/discover on Reddit: Is there a benefit to having a Discover bank account for me?

July 20, 2023 -

I originally got the bank account to replace my Wells Fargo account as soon as I turned 18 to get out of the joint account with my parents and mainly opened one for the cashback and so far only managed to get $35 of cashback within the last year. When I first got it I used my debit card to purchase everything I needed to. Nowadays though, I switched to using my credit card for everything and all the transactions that are on my debit card are either Zelle, ACH transfers to pay off credit cards, or Cash App (Zelle and Cash App is me sending money to family that I let them borrow or to take out cash for me since I find the non-branch ATM's in my area are a bit sketchy compared to the big branches).

Is there really a point of me keeping this other than the customer service? I hear that they might be getting bought out by Capital One which I don't know if it's a good thing or not.

You still need an account to hold money for you to pay off your credit cards and transfer money to family. Where else would you keep it? Cash App is not FDIC insured so I would not recommend using them to keep your money

I used to use BoA but switched to Chase to reduce monthly fees. I mainly use this account for monthly expenses, direct deposit and because the amount of physical locations they have. I also have Discover checking and savings that I keep my emergency fund in their HYSA. It’s all really personal preference how you want to manage your money. If for some reason I am unable to access my Chase account, then at least I have some money stored away elsewhere that I can easily access in a pinch

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discover.com › home › why open a savings account? 5 reasons to add savings to your financial mix

Why open a savings account? | Discover

1 week ago - When you’re choosing a savings account, keep in mind that connected accounts make it easy to move money around, especially when your savings goals require monthly and/or automatic transfers. If you’re wanting to save up for those home repairs in advance of getting started, for example, you can set up automatic transfers from your checking account to your savings account so you’re regularly working toward your goal and keeping your eyes on the prize.

discover.com › home › what is a high-yield savings account?

What is a high-yield savings account? Start here | Discover

November 24, 2025 - High-yield savings accounts allow you to grow your money through compound interest, she adds. With compound interest, you earn interest on both your principal—in other words, your bank balance—and the interest you receive.

discover.com › home › certificate of deposit vs. savings account: which is right for you?

Certificates of deposit vs. savings accounts | Discover

October 24, 2025 - If you have money you don’t need ... benefit of savings accounts compared to CDs is that savings accounts have no set term, so you can access your money if you need it....

taxfyle.com › blog › discover-high-yield-savings

Discover High Yield Savings: Pros, Cons, and Alternatives | Taxfyle

June 28, 2024 - High-yield savings accounts, like the Discover high-yield savings account, offer significantly higher interest rates compared to traditional savings accounts. The savings account interest rate for high-yield options can be much more lucrative, often exceeding the national average savings interest rate substantially. For instance, while traditional accounts might offer an APY as low as 0.05%, a high-yield account could offer rates as high as 1.50% or more. One of the key benefits of the best high-yield savings accounts is the effect of compounding interest, which is compounded daily.

discover.com › online-banking › banking-features

Online Banking Features and Benefits | Discover

That’s right! No fees for everyone, on every account.

discover.com › online-banking › faq › savings-account

Savings Account FAQs | Discover

Get answers to your Online Savings Account questions with our comprehensive FAQs. Learn how to open an account, and the minimum deposit requirements.

Business Insider

businessinsider.com › personal finance › banking › savings › discover savings account rates

Discover Savings Account Review: Comprehensive Analysis

May 8, 2025 - The Discover® Online Savings Account has a good interest rate and low fees — you'll earn 3.60% (as of 04/22/25) APY while paying no monthly service fee The $0 minimum opening deposit might be especially attractive to new savers who don't ...

discover.com › home › where should i keep my money? consider these 4 bank accounts

4 types of bank accounts to help you save | Discover

1 month ago - A savings account is a good place for your emergency fund because the money can be easily accessed when you need it. Interest rates, however, can be meager. Once you’ve saved enough to cover your immediate emergency fund needs, it’s time ...

reddit.com › r/creditcards › is the discover hysa a good choice for savings? could anyone recommend?

r/CreditCards on Reddit: Is the Discover HYSA a good choice for savings? Could anyone recommend?

October 4, 2023 -

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?

A few of the CC companies have HYSA. I guess you go with the one who feel more comfortable with.. I ended up going with Amex as I have been a long time customer with them. It's sort of a bidding war right now. It seems every other month one of them ups the APY. You may need to look at how may times you can deposit or withdraw a month. Edit: I finally got an HYSA at the beginning of the year. At time it was below 4%. Maybe it started at 3.5% but can't remember at the moment. Bottom line is that a HYSA is better than your standard bank's saving account.

Yes, it’s a good rate. I personally don’t bank with my credit card issuer though. If you have fraud on your account or they suspect you of committing fraud then the standard practice at banks is to shut down all of your accounts at that bank. This could be for a few days or a few months. This is also why I don’t keep all of my money in the same bank.

reddit.com › r/discover › savings account seems too good to be true ?

Savings account seems too good to be true ? : r/discover

May 13, 2023 - Online HYSA depositors benefit from their financial institution not paying to maintain bricks and mortar locations, so they have no need to hammer relentlessly with fees. While the discover hysa account does have terms and conditions, they are minimal.

discover.com › online banking

Online Banking | Open an Online Bank Account | Discover

Annual Percentage Yield (APY). Advertised Online Savings Account APY is accurate as of XX/XX/XXXX. Applies to personal accounts only. APY may change before or after the account is opened. No minimum deposit to open.

joinkudos.com › blog › discover-high-yield-online-savings-account-review-high-apy-with-no-monthly-fees

Discover High Yield Savings Review: Best No-Fee Account

The Discover High Yield Online Savings Account stands out as an excellent choice for most savers. With its combination of high yields, zero fees, and user-friendly digital features, it offers everything most people need in a modern savings account.

discover.com › home › saving

Money Saving Tips, Goals, & More | Discover

Learn all about saving on Discover's Modern Money Blog. Check out articles on money savings tips, saving for the unexpected, savings goals, & more.

money.com › banking › high-yield savings accounts

Discover High-Yield Savings Accounts Review | Money

September 15, 2025 - Aside from the ease of opening an account, the Discover high-yield savings calculator gives you an estimation of how much you could earn in interest depending on how much you deposit and how much time passes. The educational material is informative and easy to digest, which means you'll know what you're signing up for as you complete the Discover high-yield savings application. Ads by Money. We may be compensated if you click this ad.Ad · Save money the right way with a High-Yield Savings Account