A good way to earn some extra money on your cash balances is by opening an online savings account. Discover Bank is FDIC-insured and is known for its online convenience and high interest yields while providing a safe and secure way to save money each month. As with any online bank, Discover is able to avoid overhead costs of a physical branch, thus saving money and offering you a higher savings rate. When you apply and fund your online savings account, you can start earning 5x more than the national average with a 1.00% APY. Move your money to a Discover Online Savings Account and get:
- Low opening deposit. Minimum $500 initial deposit requirement.
- No minimum balance requirement.
- No monthly fees.
- Interest on Discover Online Savings Accounts is compounded daily and credited monthly.
- Auto Savers plan which automatically transfers money from your personal checking account into your savings account each month.
- FDIC insurance up to $250,000.
- Manage your account online or with the Discover mobile banking apps. Features include checking your savings account balance, viewing recent activity, viewing earned interest, and the ability to make and set up transfers, and works on the Android, iPhone and Blackberry devices.
You can open an account anytime online by completing their 3-step online form. Once your account is opened, you can fund your account electronically from any checking or savings account with a personal check or wire transfer. After verification, submit your information and you’re ready to start earning great rates! You can access your money when you need it- online money transfers are fast and free, transfer money to or from any linked bank account, and make up to 6 outgoing transfers per statement cycle. Sign-up for the Discover Bank Online Savings Account today!
Check out the best online savings account!
The American Express Premier Rewards Gold Card is offering 25,000 membership rewards points for spending $2,000 within the first 3 months. The 25,000 bonus membership rewards points can be redeemed for $250 gift cards of your choice. There is no annual fee for the first year, a saving of $175.