Discover Bank Bonuses

Open a new Discover savings account to earn up to $200

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Discover Bank doesn't offer very many promotions for its online bank accounts. However, it’s an excellent bank with low fees and useful features. We’ll show you how to earn any available Discover Bank bonuses.

Discover Bank : Online Savings Account - $150–$200

  • Bonus Amount: $150 or $200
  • Promotion Expiry: December 14, 2023
  • Qualifications: Deposit
How to Get the Bonus
  1. Apply for a Discover Online Savings Account. You can do this online, through the Discover Bank app, or by calling the company at (800) 347-7000. To earn the bonus, make sure to sign up through the above link, or use coupon code GOBP223 if you sign up elsewhere. 
  2. Deposit at least $15,000 or $25,000. You won’t need to make this deposit right away, but you’ll need to get it done within 30 days in order to be eligible for a bonus. Deposit $15,000 to earn the $150 bonus, or deposit $25,000 to earn the $200 bonus.
  3. Earn your bonus within 60 days. You’ll need to keep your account open until you receive the bonus as a deposit into that account. Other than that, there are no requirements to earn the bonus.  

If you have a large emergency fund, that would be a prime tool to earn this bonus. If you don’t have one saved up yet, it’s never too late to get started. 

Bonus Restrictions and Account Fees
  • The offer is only available to people who have never had a Discover savings account before, including savings accounts that are co-branded and offered through other outlets.
  • If you don’t meet the requirements, you may still be eligible for the bonus if you open a joint account with someone who actually does qualify, as long as you list them as the primary account owner. 
  • Discover Bank doesn’t charge any fees for its Online Savings Account except for a $30 outgoing wire transfer fee. 

If you decide to transfer your money back out after earning the bonus, make sure to close your account to avoid any potential fraud risks. 

Discover Bank : Online Checking Account - N/A

  • Rewards: 1% cash back
  • Monthly fee: None
  • Fee-free ATMs: 60,000+
Pros & Cons
  • No fees at all, including no NSF fees

  • 1% cashback on debit card purchases

  • Zelle for fast and easy person-to-person payments

  • Free check supply with unlimited refills

  • Not currently available

  • No APY

  • No ATM fee refunds—only free transactions at in-network ATMs

Who Is Discover Online Banking Best For? 

Discover Online Banking should be a good fit for those seeking a digital bank that offers a suite of different services. It might be a particularly good fit for those who:

  • Prefer paperless, digital transactions
  • Hate paying fees
  • Typically use their debit card for day-to-day transactions 
  • Prefer to bank with an established "name" financial institution 

Compare Discover Bank Promotions

Promotion Bonus Amount  Promotion Expiry  Qualifications
Online Savings Account $150 or $200 December 14, 2023 Deposit

Frequently Asked Questions

  • Does Discover Have Any Promotions?

    Yes. Discover isn’t offering very many promotions for its bank accounts right now—see the above list. You may find more luck with promotions for Discover credit cards instead.

  • Are Discover Bank Bonuses Taxable?

    Yes, the bonus that you earn is taxable just the same as the interest you’ll be earning on the account. At the end of the year, Discover Bank will send you a Form 1099-INT that you can use to file your taxes.

  • Are Discover Bank Accounts Worth It?

    Yes, Discover Bank has excellent online bank accounts. Its Online Savings Account charges zero fees (aside from a $30 fee to send wire transfers) and offers a very high interest rate on your savings.

Woman using credit card at ATM

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Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. Discover. "Online Savings Account."

  2. Discover. "Domestic Wire Transfer Instructions."

  3. Federal Bureau of Investigation. "Senior Citizen Fraud: How to Protect Yourself." 

  4. Discover. "Checking Account."