How can i deposit cash into my discover checking account

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The Discover Online Savings account offers many of the perks Discover is known for, including few fees and excellent online and mobile banking tools. It also has a competitive APY. Read our full Discover Online Savings account review to learn about all this account has to offer.

Rates as of Oct. 28, 2022

How can i deposit cash into my discover checking account

Member, FDIC

  • Competitive APY
  • No fees
  • Great customer service

  • No branch access

The Discover Online Savings account is a top choice for customers looking for a quality online savings account with a high APY. Discover takes the no-fee approach to the next level with none of the monthly fees or hidden fees that you might see with other banks. Discover offers a top-rated mobile app that lets customers stay connected to their savings from almost anywhere.

Below, we go over the top perks of the Discover Online Savings account -- as well as what could be improved.

Top perks

2.35% APY: The Discover Online Savings account's APY is one of the highest offered by top online savings accounts. All balances qualify for the same interest rate. This differs from some competing online savings accounts with tiered rates based on account balances.

No monthly balance requirement: Discover's high-yield savings account is broadly accessible to different account holders. This includes savers who don't keep large ongoing monthly balances.

No fees: You won't pay for a stop payment order, excessive withdrawal, insufficient funds, or monthly maintenance.

Mobile app: Discover has one of the best mobile apps of the online banks we reviewed. Mobile apps are crucial for an online savings account, where customers must rely upon technology to facilitate transactions normally handled face to face at a bank. Savers can access details for all their Discover accounts, view account activity, electronically deposit checks, and transfer money.

FDIC insured: Just like a traditional bank, Discover is a member of the FDIC, which means that your funds are protected, even in the unlikely event of bank failure. The FDIC covers up to $250,000 per depositor, per institution.

What could be improved

ATM card: The Discover Online Savings account doesn't provide an ATM or convenience card for withdrawals. However, the Discover Cashback Debit account can be opened in tandem with a savings account. It allows you to transfer funds between accounts for easy ATM and debit transactions. Plus, the account earns cash back on debit purchases each month.

How to access your money

Discover doesn't have physical branches. However, it does give you several options for deposits and withdrawals.

Deposit options

Here are your choices for depositing money into your Discover Online Savings account:

  • Mobile deposit
  • Online transfer
  • Wire transfer
  • Direct deposit
  • Mailing in a check

Withdrawal options

When you need to withdraw money from your Discover Online Savings account, you have these options:

  • Wire transfer
  • Official bank checks
  • Online transfers to external banks
  • Transfer to other Discover accounts

If you transfer funds electronically to other Discover accounts, such as a Discover checking account, you can quickly and easily access cash at any ATM in the bank's network.

Online savings account comparison

The Discover Online Savings account has many appealing benefits, but it's not the best fit for everyone. Check out these other highly ranked online savings account options to see if one is a better choice for you. They also pay high rates and don't charge monthly maintenance fees.

Rates as of Oct. 28, 2022

The Discover Online Savings account is right for you if:

The Discover Online Savings account is a solid pick for anyone interested in earning a high APY while avoiding many common bank fees. As long as you're comfortable managing your finances online, you won't find much to complain about, especially if you pair this account with a Discover checking account.

About the Author

Kailey Hagen has been writing about small businesses and finance for almost 10 years, with her work appearing on USA Today, CNN Money, Fox Business, and MSN Money. She specializes in personal and business bank accounts and software for small to medium-size businesses. She lives on what's almost a farm in northern Wisconsin with her husband and three dogs.

How do I deposit money into my Discover bank account?

Here are your deposit options:.
Deposit a check with Discover's Mobile Check Deposit using your mobile device. ... .
Complete an online transfer from an eligible Discover Bank Account..
Complete an online transfer from an external bank account..
Set up Direct Deposit..

What ATM does discovery bank use?

Discovery is part of the Allpoint Network and CU$ Alliance, bringing you more than 55,000 surcharge-free ATMs worldwide. Just look for the Allpoint or CU$ logos on any ATM and access your money surcharge-free!

Can you deposit money at an ATM that isn't your bank?

Typically, you cannot make deposits to another bank's ATM. If you don't have an account at a given bank, you can often make withdrawals (for an extra fee), but you can't make deposits.

Does Discover have a physical bank?

Discover doesn't have physical branches. However, it does give you several options for deposits and withdrawals.