Updated 5/19/2020: The offer codes for the Discover Online Savings Account bonus are currently expired and will not be renewed for May-June 2020. Hopefully, they will be renewed again in the future.
Discover Bank offers a $150 or $200 bonus when you open a Discover Online Savings Account, deposit $15,000 or $25,000, and maintain that balance for about 15 days.
This offer is limited to new customers only (not available for existing or prior Discover Savings Account customers), and there is a limit of 1 bonus per customer.
Discover Online Savings $150/$200 Bonus
1. Click this Discover Promotional Link to apply online.
2. Enter Offer/Invitation Code OBD420 during the application process.
3. After account opening, deposit $15,000 or $25,000, and maintain that balance for about 15 days.
4. The $150 or $200 bonus will be credited to your account after you meet the qualifications.
Discover Bank Promotional Code
The following Discover Bank Promo Code works for this special $150/$200 offer:
- Promo Code – OBD420 (This promo code and the promotional links in this article are provided by the Discover Bank Marketing Team. They DO NOT monetarily benefit Maximizing Money when you use them. They are provided for free to allow our readers to access the $150 or $200 bonus.)
How To Apply Discover Bank Promo Code
1. Visit DiscoverBank.com to access the offer.
2. Click the “Open an Account” button on the top right corner of the application page.
3. Select Discover Online Savings Account and enter your initial deposit amount.
4. During the application process, specifically on the “Opening Deposit” page, enter and apply the Offer Code OBD420 to see the confirmation details appear.
5. Then simply complete the online application, and the bonus offer will be applied.
Discover Bank Online Savings Account Details
The Discover Bank Savings Account has no monthly fees and no monthly minimum balance requirement.
In addition, you’ll earn a 1.50% APY on all of your deposited balances with an online Savings Account from Discover Bank, on top of the $150 or $200 bonus.
To open an account, you must be a U.S. citizen or other U.S. person, be at least 18 years old, have a valid Taxpayer Identification Number, have a valid physical U.S. address, and provide an electronic consent and signature.
Just open a Discover Savings Account with a minimum opening balance of only $500 to get started and earn a 1.50% APY on all balances.
Plus, if you’ve got $15,000 or $25,000 to move around, you can take advantage of this Discover Savings Account bonus to earn an extra $150 or $200 cash reward.
Discover Online Savings Account Features
- 1.50% APY on All Balances.
- No Monthly Maintenance Fees.
- No Minimum Balance Required.
- $0 Minimum Opening Deposit Requirement.
- Free Official Bank Checks.
- No Fees for Expedited Delivery of Official Bank Checks.
- Free Incoming Wire Transfers.
- Interest Compounded Daily and Paid Monthly.
- View Savings Account Balance and Activity Online or in Mobile App.
- Deposit Checks on the Go or Grow Your Savings with Automatic Transfers.
- Move Money In and Out of Your Savings Account Easily and Securely.
- Open a Discover Savings Account in Minutes with Your Address, Phone, Email, and Social Security Number (or other taxpayer ID).
- Funds on Deposit at Discover Bank are FDIC-Insured up to the Maximum Allowed by Law.
Discover Savings Account Review
I personally have multiple online deposit accounts with Discover Bank, including Savings, Cashback Checking, and Certificate of Deposits.
Their online account system is extremely simple to use, especially when it comes to moving money around between Discover accounts and outside banks.
They are also one of the most responsive banks around when it comes to their actual human customer support, as you can easily get help when you need it by phone or email.
Overall, Discover Bank is a great online banking service for your everyday deposit account needs, allowing you to earn high interest rates and enjoy simple banking services.
You can also compare interest rates from 360 Savings for other online banking account options.