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Discover offers some compelling sign-up bonuses for opening new bank accounts and credit cards, and these offers can be a great way to earn some extra cash. Discover Bank is known for low fees and good customer service, with products available to users with a wide range of credit scores and financial needs. Here’s a deep dive into current Discover Bank bonuses and products to help you get the best deal with a new account.

Current Discover Bank Bonuses and Promotions


Here’s a closer look at the Discover Bank products and promotions available as of this publication date. But keep in mind, promotions may change at any time with no notice or warning. If you see a deal you like, it’s best to act quickly to ensure you lock in the terms.

Also, it’s not a bad idea to take a screenshot or make a printout of the deal as you sign up in case it’s not credited to your account correctly. Now, on to the Discover bonuses and promotions.

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Discover’s banking solutions can be a great fit for many people looking for an online bank with low fees. We’ll get into the no-fee structure later on, but these are solid online checking and savings accounts with good customer service and no monthly fees for regular use.

Discover banking features:

  • No monthly fees regardless of your balance
  • Accounts are FDIC insured
  • Access to the free Zelle network for instant, fee-free peer-to-peer transfers

Discover Bank won’t work for you if you need to deposit cash regularly, as it’s online only—there are no brick-and-mortar Discover branches. But otherwise, it’s a great option.

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Discover Cashback Debit: Up to $360 Cash Back per Year

Note: Discover is currently not accepting new applications for the Cashback Debit.

The financial nerve center for your money is your checking account.

Discover checking features:

  • No Discover-imposed fees for regular use
  • The card offers 1% cash back on debit card purchases up to $3,000 per month
  • There’s no sign-up bonus, but cash back on debit purchases is better than what many competitors offer.

Discover Checking has no fees for regular activity, but you’ll want to go to an in-network ATM if you need cash to avoid fees charged by other banks. Discover doesn’t charge ATM fees, but the ATM owner usually does, and Discover doesn’t offer ATM fee reimbursements. It does offer over 60,000 surcharge-free ATMs through the Allpoint and MoneyPass networks, however.


If you have your employer's direct deposit go into a Discover checking account, you may get access to funds up to two days early. That can be very helpful for households on a tight budget.

Discover Online Savings Account: $150-$200 Bonus Offer

This account features interest rates over five times higher than the national average. As of this writing, it pays 4.30% APY with no regular account fees. Interest rates are competitive with most other online savings accounts. Check out our listing of high-yield online savings accounts for more options.

Discover is currently offering a sign-up bonus of $150-$200 with this account. Here's how you can get this offer:

  • Sign up for new Discover Online Savings Account by December 14, 2023, using promo code BB923
  • For the $150 bonus: Deposit at least $15,000 within 30 days of account opening
  • For the $200 bonus: Deposit at least $25,000 within 30 days of account opening
  • Once you meet the requirements, Discover will deposit the bonus into your account within 60 days

Note that this offer isn't valid for existing or prior Discover savings customers or for customers with co-branded savings accounts or affinity accounts provided by Discover.


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Discover certificate of deposit (CD) accounts require you to lock away your funds for three months to 10 years. There’s no added sign-up bonus at the moment, but the ability to lock in a rate of up to 5.00% APY, depending on the term, may entice you anyway.

Some of the longer terms earn a higher interest rate, but at the moment they level off at the longer terms. CDs are good when you know you won’t need the funds for a while and believe interest rates will stay firm or go down. If you think rates will rise in the near future, you could find yourself locked into a lower rate than the market offers.

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Money Market Account

A money market bank account (not the same as a money market mutual fund) is a bank account that combines checking and savings features. You’ll typically earn interest rates similar to a savings account, but you get a checkbook and debit card for up to six monthly withdrawals. That limit is set by the Federal Reserve, not Discover.

As of this writing, rates go up to 4.25% APY, and there are no fees for account activity other than wire transfers. There’s no added sign-up bonus, however.

Retirement Accounts

Discover Bank also offers individual retirement account (IRA) options. IRA Savings and IRA CDs come with competitive bank account rates similar to regular accounts but come with a retirement tax advantage. There’s no promo paid for new accounts as of this writing.

Credit Cards

Many credit cards come with a cash back, miles or points bonus where you can earn a reward after meeting minimum spend requirements in the first three months of opening a new account. Discover offers innovative rewards and bonuses on its cash back, student and travel rewards programs that are worth considering.

Unlimited Cashback Match

The big bonus from Discover comes from using the card often during the first year. With all Discover rewards cards, your first-year rewards are doubled automatically. This includes a student card and a secured card, which don't always have generous rewards attached.

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Discover Interest Rates and Fees

Discover Interest Rates

Discover offers favorable interest rates for savings products compared to other banks. Plus, its bank accounts have no monthly fees.

For credit cards in general, you never have to pay interest if you pay off the balance in full every month by the due date. Regardless of the interest rate, you don’t have to pay interest when you follow that habit. If you can't pay off your card balance in full every month, you may want to consider skipping credit cards to save on costs.

Bank account and credit card interest rates and fees can change at any time without notice. In most cases, rates rise and fall when the Federal Reserve adjusts its target interest rate. When the Federal funds rate rises, so should savings and credit card interest rates. The converse is true when the Fed lowers interest rates.

Discover Bank Fees

Discover charges almost no fees at all for any banking services. It’s an impressive and consumer-friendly pricing model, to say the least. The main fee you’ll pay on the checking account is the fee other banks charge for using an out-of-network ATM. You'll also have to pay a fee for outgoing wires.

Discover has no overdraft fees, minimum balance requirements or monthly recurring service fees to worry about. Most users won’t pay any fees to Discover for using its bank accounts.

Credit cards come with some common fees for less common activities, such as late or returned payments. Discover cards have no annual fee, but you may pay fees for balance transfers or cash advance transactions.

Discover Customer Service

Discover offers very good customer service from an entirely United States-based support team. You will always reach someone in the U.S. who speaks English if you call in for help. The ease of reaching a support agent by phone is refreshingly quick and simple compared to most other banks.

That said, Discover Financial Services earns mediocre ratings on TrustPilot, with an average of 1.7 stars with around 200 reviews. Complaints focus on poor customer service responses to disputes and rejected account applications. Some complaints state long wait times for phone support, but that’s not the experience we had in testing.

Discover maintains an A+ rating with the Better Business Bureau (BBB) but holds a similar 1.15-star average rating. BBB complaints cover a range of scenarios, however, and your experience may be different.

Should You Sign Up for a Discover Bank Promo?

Discover promos are a great way to earn extra cash when opening a new account. Getting an extra $150 or $200 in your savings is a nice way to pad your emergency fund, start saving for a vacation or treat yourself to something fun you’ve been putting off. Or, you can save it for a rainy day. How you use your Discover bonus is up to you.

Even when Discover isn't offering promotions, its products are pretty solid. In any case, Discover bonuses and promotions should be on your radar if you’re on the hunt for new accounts. After all, if you’re opening a new bank account anyway, you might as well get paid for it.


Eric Rosenberg

Eric Rosenberg is a finance, travel, and technology writer in Ventura, California. He is a former bank manager and corporate finance and accounting professional who left his day job in 2016 to take his online side hustle full-time. He has in depth experience writing about banking, credit cards, investing, business, and other financial topics. When away from the keyboard, Eric enjoys exploring the world and spending time with his wife and little girls. You can connect with him at Personal Profitability or