Discover has been around for decades. Most people know about its credit cards, which were first introduced in 1985 by Sears. At the time, it was novel because it had no annual fee and offered cardholders a higher-than-average credit limit. Today, Discover Bank (FDIC# 5649) is headquartered in Greenwood, DE. It offers a wide range of bank accounts, from savings, checking, and CDs to loans and credit cards. At a Glance 4.00% APY No fees No miminum balance requirements Checking account, money market, and CDs are also available from Discover. Who Should Use Discover Online Savings If you are in the market for an online savings account, Discover is a solid choice. It consistently has a high interest rate and there are no fees. The drawback is that there are no physical branches, so you’ll have to access the account through the Discover website or via the mobile app. You also can’t deposit cash. Discover Alternatives Savings APY4.00% APY1.00% APY4.00% APYMonthly fee$0$0$0Minimum balance$0$0$0Learn moreLearn moreLearn more Table of ContentsAt a GlanceWho Should Use Discover Online SavingsDiscover Bank Online SavingsOther Discover Bank AccountsChecking AccountMoney Market AccountCertificates of DepositDiscover Bank Fee StructureDiscover Mobile Banking Smartphone AppDiscover AlternativesCapital One 360American ExpressAlly BankIs It Worth Getting? Discover Bank Online Savings Discover’s High Yield Savings account earns 4.00% APY with no minimum balance requirement. Interest is calculated daily and applied to the account monthly. The account doesn’t charge a monthly fee or any other kind of fee. There is no excessive withdrawal fee, stop payment fee, returned item fee, or insufficient funds fee. There are several ways to deposit money into this online savings account, such as direct deposit, online transfer from a checking account, mobile deposit, and mailing a check. However, you cannot deposit cash at Walmart like with the checking account. If you set up direct deposit, you can receive your funds up to two days early with Early Pay. Go to Discover Other Discover Bank Accounts Discover offers a full range of bank accounts with a few (good) twists. Checking Account Discover’s checking account has no fees and no minimum balance requirements. Also, its Cashback Debit card allows you to earn 1% cash back on up to $3,000 in spending per month on your debit card (see website for details). Cashback on a debit card is rare. Since it’s an online bank, depositing cash is a little more difficult. Discover allows you to deposit cash at any Walmart in the U.S. for free. You can add cash up to four times per day, or seven times per week and the money will be available in your account in about ten minutes. The ATM network is huge – 60,000 locations – and they use Allpoint and MoneyPass’s networks. You can also enable Balance+, which acts as overdraft protection. This feature allows you to use your debit card to overdraw the account up to $200 with no fees. To qualify for Balance+ you must

Life with JB We were talking with our friends about their overachiever parent friends whose kids have grueling schedules at the age of 13-14. Kids who are getting up at 3-4 am to train for 3 hours before a full day of school, for example. They wondered how unhealthy that might be especially if it’s […]

Technology has become such a big part of our lives that it’s easy to forget what life was like before tech. For the younger generations, all they’ve ever known is a plugged-in life. They have little to no idea what it was like living without tech.  Baby boomers and Generation X remember life before technology … Read more

Transcript Email Download New Tab Judy McCutcheon 0:02 When you don’t deal with certain things, you don’t deal with certain fears, when you don’t believe in yourself, when you don’t believe in your abilities. And let me tell you, we are some of the smartest people in the room, but that self belief, if we don’t have it, we never gonna raise our hands. We won’t voice our opinions because we are afraid of being […]

NOW THAT I’M RETIRED and have all the time in the world, I often use that time to worry about money. That brings me to a recent offer from Wells Fargo to get a $525 bonus for depositing $25,000 in a savings account for 90 days. My immediate concern was whether the $525 would more than compensate for the paltry interest rate that Wells Fargo pays. A quick calculation determined that investing $25,000 in a […]

By Dr. Tyler Scott, WCI Columnist Albert Einstein’s work is beyond my comprehension. A woefully incomplete list of his contributions includes Avogadro’s Number, Quantum Theory of Light, General Theory of Relativity, Special Theory of Relativity, The Photoelectric Effect, Wave-Particle Duality, Brownian motion, the relationship between mass and energy (E = MC2 ), and the Bose-Einstein Condensate. I have spent hours turning over these ideas, and I often feel dumber when I stop reading than when […]

The year is 2024, and that means we’re celebrating ten years of ABLE accounts existing in law. What is an ABLE account? I’m glad you asked. We’ve covered ABLE accounts here on Femme Frugality before, but here’s a summation in case you’ve missed the coverage: When you’re disabled, there are many programs you may need to access. Government programs tend to come with income and asset tests, and disability programming is no exception. While you’ll […]

Australia’s Victoria coast along the Great Ocean Road is advertised as one of the world’s most scenic drives. Instead, we found fierce winds, ship-devouring waves, and a hefty dose of humility.  This is part 2 in a series. Read part 1 here. Listen to the Podcast My wife and I stood at the edge of … Continue reading “Under Gray Skies on a Shipwrecked Coast” The post Under Gray Skies on a Shipwrecked Coast appeared first on CLIPPING CHAINS.