Discover Bank review: is it trustworthy?
Discover Bank is one of the best options for online banking today in the US, and this review will show you why. Find out if Discover Bank is for you and switch your account to this online bank.
Understanding Discover Bank: make your life easier with online banking.
You’ve probably heard about Discover credit cards, but this review will show you the features of the Discover Bank. Take a look at the products it offers, and maybe you’ll switch your accounts to this online bank.
With excellent financial products, Discover Bank certainly has the one you need. Get your account working just how you need it to, and pay a fair price for it. This review will show you more details to help you decide about joining Discover Bank.
- Financial products offered: Checking accounts, savings accounts, money market accounts, Certificates of deposit, personal loans, and retirement accounts.
- Fee: No fees to open and maintain your account.
- Minimum balance: No minimum deposit for checkings and savings accounts; $2,500 minimum deposit for CDs,
How is banking with Discover Bank?
This bank deserves 5 stars on its review. Even with some possible downsides, it is one of the best online banks in the market right now, for sure.
Discover Bank has a unique combination of high-quality products, rewards, and low pricing. That means you will pay no fees to open your checking account and earn cash back on it.
Besides that, it has a wide ATM network for you to use with no fees and excellent customer service. The savings account will give you great APY with no minimum deposit.
If you do well with no in-person service, Discover Bank will work perfectly for you. You can solve everything online and get a quick response to your problems.
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Significant benefits and disadvantages you may find
Getting an online account is a great way to make your financial management easier. It gives you more autonomy and less dependent on the attendance of a person or manager.
If you’ve never used an online account, this is a great way to start. We’ll highlight in this review Discover Bank’s pros and cons for you:
- No monthly maintenance fees and no fees to open your account too.
- A lot of ATMs, so you’re very likely to find one when you need it.
- The APY on the Savings account is excellent
- Get 1% cashback using your debit card from your checking account.
- Outstanding and efficient mobile app.
- It helps you to save and invest money for retirement.
- No overdraft fees.
- No physical branches, so you’ll not have in-person attendance.
- There is a $3,000 monthly spending cap for the cashback earnings.
- To get a CD, you need at least $25,000 to deposit.
Why should you choose Discover Bank?
Everyone who feels comfortable with online services and is looking for a straightforward and accessible way to manage money will benefit from joining Discover bank.
How to start banking with Discover Bank
As a straightforward bank, you will have no hard time joining this bank. We’ve made a review of the Discover Bank application process too. Just go to the next post you’ll see in the link below.
About the author / Julia Bermudez
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