discover savings account minimum balance - Brave Search

Should I keep my savings here?

reddit.com › r › discover › comments › 1b7ee30 › should_i_keep_my_savings_here

You can have accounts with MORE than one bank or financial institution. Did you read the Fee Schedule for both banks? Answer from VillageParticular415 on reddit.com

reddit.com › r/discover › should i keep my savings here?

r/discover on Reddit: Should I keep my savings here?

March 5, 2024 -

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…

You can have accounts with MORE than one bank or financial institution. Did you read the Fee Schedule for both banks?

Schools really need to teach finances lol

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

High Yield Savings Account - No Monthly Fees | Discover

Open a high interest savings account that offers high yield interest rates with no monthly balance requirements or monthly fees.

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People also ask

Am I required to maintain a minimum balance in my Online Savings Account?

There is no minimum balance requirement for an Online Savings Account.

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

Savings Account FAQs | 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

How do I make deposits to my Online Savings Account?

Here are your deposit options:

Deposit a check with Discover's Mobile Check Deposit using your mobile device.
Complete an online transfer from an eligible Discover bank Account.
Complete an online transfer from an external bank account
Set up Direct Deposit
Mail a check made payable to you with a deposit slip or your account number on the memo line to:

Discover
PO Box 30417
Salt Lake City, UT 84130

*Please note that Travelers Checks will not be accepted for deposit.

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

Savings Account FAQs | Discover

investopedia.com › discover-savings-account-interest-rates-7500041

Discover Savings Account Interest Rates: January 2026

1 week ago - Discover doesn't have a minimum balance requirement. To determine how much to save, think about your goals and what you want to accomplish with your short-term savings, and look at how much you can expect to earn at different rates and deposit ...

discover.com › home › does it cost money to open a savings account?

Does it cost money to open a savings account? | Discover

1 week ago - Some banks have a savings account minimum deposit, while others set a minimum balance threshold.

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

5 reasons to have a Discover Savings Account | Discover

5 days ago - When thinking about important things to consider with savings accounts, add no minimum balance requirement to the list. If you are just getting started with your savings (way to go!), it can be challenging to set aside a large chunk of cash just to avoid a balance requirement fee.

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

Discover offers a competitive APY that varies with market conditions. Visit Discover's website for the current rate. ... No, there is no minimum balance requirement to open or maintain the 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.

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The Motley Fool

fool.com › motley fool money › banks › savings accounts › savings account reviews › discover online savings review

Discover® Online Savings Review: Great for Mobile Bankers | The Motley Fool

October 10, 2025 - Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY. Accurate as of the time of publication. The national average rate referenced is from the FDIC’s published National Rates ...

cnbc.com › cnbc select › banking › discover bank review: the best high-yield savings and checking account offered by a big bank

Discover Bank review: The best high-yield savings and checking account offered by a big bank

December 8, 2020 - Users can start earning interest right away, with no minimum balance required in their account. Discover also sometimes offers welcome bonuses for new customers that make a minimum deposit.

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 - In order to complete your application and open your account, there may be some savings account requirements, including providing identification information and meeting a minimum opening deposit amount. Note that some savings accounts come with no minimum opening balance requirement, making them a great fit if you’re just ramping up your savings efforts or want to open the account and worry about depositing funds later.

money.com › banking › high-yield savings accounts

Discover High-Yield Savings Accounts Review | Money

September 15, 2025 - The Discover savings account has no minimum balance requirement, in addition to no minimum opening deposit. Seeing as some financial institutions do require a minimum deposit to open accounts with higher APYs, Discover’s savings account may ...

discover.com › home › 4 ways savings accounts can help you build your emergency fund

4 ways a saving account helps with emergencies | Discover

March 17, 2025 - Not so for most online savings accounts, which often come without minimum balance requirements or maintenance fees. No minimum means you can start small and save little by little, building up your rainy day fund to help with unexpected expenses over time.

mybanktracker.com › home › savings › reviews › discover® bank online savings account 2025 review

Discover® Bank Online Savings Account 2025 Review

January 2, 2025 - One of the big draws of Discover Bank’s online savings account is that there are no monthly fees and no minimum balance.

Business Insider

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

Discover Savings Account Review: Comprehensive Analysis

May 8, 2025 - No, the Discover® Online Savings Account doesn't have monthly account fees or minimum balance requirements. There are also zero fees for official bank checks, stop payment orders, insufficient funds, or bounced checks.

forbes.com › advisor › banking › savings

Discover Savings Account Rates – Forbes Advisor

December 30, 2022 - If you’re looking for a savings account that charges few fees and offers a solid APY, Discover® Bank Online Savings Account could be a suitable choice for you. The account has no minimum ...

The Motley Fool

fool.com › motley fool money › banks › savings accounts › savings account reviews › discover online savings review

Review: Discover Online Savings Account

October 10, 2025 - Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY. Accurate as of the time of publication. The national average rate referenced is from the FDIC’s published National Rates ...

fortune.com › article › discover-bank-review

Discover Bank review: Everything you need to know in 2026 | Fortune

November 17, 2025 - Open a 360 Performance Savings account and grow your money today. ... MIN. BALANCE FOR APY ... EST. EARNINGS ... Earn up to $300 cash bonus with minimum deposit. Terms apply. ... Discover is famous for its lack of account fees.

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

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

June 28, 2024 - While high APY is a significant draw, the interest rates on savings accounts with high yields, such as Discover’s online savings account, are subject to change based on broader economic shifts. This means that the savings rate is competitive but may fluctuate, impacting the predictability of investment returns. To open a savings account, particularly an online savings account offering high yields, there may be a minimum deposit requirement or a need to maintain a certain balance to avoid monthly maintenance fees.

nerdwallet.com › back to nerdwallet homepage › banking › discover® bank review 2025: checking, savings and cds

Discover® Bank Review 2025: Checking, Savings and CDs - NerdWallet

Discover® Bank

It can help you earn 1% cash back ... fees or minimum requirements to worry about. If you want to deposit cash into your account, you can do that for free at Walmart." ... Up to $360 per year. See website for details. ... Up to $360 per year. See website for details. Discover’s Cashback Debit is a rewards checking account that lets you earn 1% cash back on up to $3,000 in debit card purchases each month. Plus, there’s no monthly service charge and no monthly balance ... Discover® Bank is an online bank with great savings and CD rates, an extensive network of free ATMs, and a free checking acco

Rating: 4.9

bankrate.com › banking › savings

Discover Bank Savings Account Interest Rate | Bankrate

July 9, 2024 - Discover’s high-yield savings account is a top choice for savers seeking a strong APY without monthly fees or minimum balance requirements—though higher rates can be found at other online banks.