Discover Bank is currently offering their Money Market Account with an attractive 1.95% APY rate for balances under $100K. Open an account today with $2,500 in minimum opening deposit value and you will be able to earn such a rate. However, if you’re able to reach balances over $100,000, you will be earning a 2.00% APY rate instead.
What’s awesome about this account is that you don’t have to settle with any drastic ultimatums, like whether you receive the maximum interest rate or not because any balance below $100,000 will earn a high 1.95% APY rate. Be sure to maintain the $2,500 in average daily balance value to waive the $10 monthly fees. From easy cash access to utter convenience with your savings, Discover Bank’s Money Market account is unique for paying bills and gaining access to your funds easier as opposed to a standard savings account.
If you are interested in opening a new account, be sure to apply as soon as you can or check out our list of Discover Bank Bonuses! In addition, you can also check out other great promotions from banks such as HSBC Bank, Chase Bank, Huntington Bank, TD Bank, BBVA Compass Bank or CIT Bank.
Table of Contents
Discover Bank Money Market Account Summary
-Get started and open a Discover Money Market Account in 3 easy steps.
• Available nationwide online
• Earn high yields with flexible access to your cash.
• Earn 2.00% APY balances $100,000 and over
• Earn 1.95% APY balances under $100,000
• Open with as little as $2,500
• Save time and deposit checks securely through the Discover mobile app
• Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs
• Move money in and out of your money market account easily and securely with just a few clicks or taps
Discover Bank Money Market Account Information
- Direct Link to Offer
- Account Type: Money Market
- Availability: Nationwide
- Expiration Date: None
- Credit Inquiry: Soft Pull
- Direct Deposit Requirement: None, however, minimum opening deposit is at $2,500.
- Monthly Fee: $2,500 in maintainable balance to waive $10 fee
- Early Termination Fee: None
1. Sign up for an account by entering your information. Discover Bank will need your address, phone, email and social security number (or other taxpayer ID).
2. Fund your account with as little as $2,500. You can send us a check or transfer funds from an existing bank account.
3. Done! Discover Bank will send a confirmation email, then watch for your Welcome Kit on how to start your new account experience!
|Current Money Market Rates|
|Balances Under $100,000||Balances $100,000 & Over|
|1.95% APY||2.00% APY|
Discover MMA Features
- Free ATM use nationwide
- Replacement debit card
- Fast shipping
- When you lose your debit card, Discover Bank will not only replace it for free, but they will offer you the convenience of expedited delivery!
- Official bank check
- Check reorder
- Absolutely no account closure fee
- If you decide to cancel your account before the due date, there is no closure fee!
- Low minimum balance fees
- Not only do you get to enjoy a host of features, but you also get to enjoy the low balance fee of $10 per statement cycle
- Deposited items returned ($15 per item)
- Stop payment ($15 per request)
- Excessive withdrawal fees ($15 per item)
- Outgoing wire transfers ($30)
- Insufficient funds fee ($30, 1 fee max/day)
No Hidden Fees
Discover Bank understands bank deals will often surprise you with a hidden fee the moment you sign up for an account. However, that is not the case with Discover. With all the fees clearly listed out, you don’t have to worry about any impending fees or a surprise on your next statement! There’s absolutely no gimmicks, all you have to do is apply for a new account and any fees there ever will be, are listed below. If you would like to know more, simply head on over to the website for more information!
If you aren’t able to make the $100,000 in balance requirement for higher APY rate on the Discover Bank Money Market Account, it’s completely understandable, which is why Discover Bank is still offering you a pinch less, yet competitive rate on all balances below $100,000.
Enjoy the convenience of securing your money while being able to make the necessary withdrawals you need, just in case if expected bills are coming your way. You will be limited to 6 withdrawals per month, which, in most people’s case, is more than enough. Note that you’d need $2,500 in minimum deposit value to waive the $10 monthly fees. Excessive fees do apply if you exceed the withdrawal limit.
Be sure to also check out our complete list of the Best National CD Rates for all your banking needs!
Check out our most popular Bank Promotions to earn high cash bonuses!
- Huntington 5 Checking Account Review: $200 Bonus
- HSBC Bank Advance Checking Bonus: $350 Promotion
- HSBC Premier Checking Bonus: $750 Promotion
- Chase Premier Plus Checking Review: $300 Bonus Coupon
- Chase Total Checking + Chase Savings Bonus: Earn $350 Bonus
- TD Bank Premier Checking Review: $300 Bonus
- TD Bank Convenience Checking Review: $150 Bonus
- Huntington Bank Accelerated Business Checking Bonus: Earn $750 Promotion
- Chase Total Business Checking Review: $200 Bonus
- Huntington Bank Fast Track Business Checking Review: $400 Bonus
- Huntington Bank Community Business Checking Review: $200 Bonus
- Chase College Checking Account Review: Earn $100 Bonus