Discover Bank Review


Discover is best known as a credit card company but Discover also offers an online bank with a full range of accounts with no monthly fees. Discover offers checking, savings, money market and CD accounts. By not paying for physical bank locations, Discover is able to pass on the savings to those who choose to bank with them.


  • Great term life insurance rates
  • Option of adjusting between term and permanent policies
  • Options to access funds before death or serious illness/injury


  • Weak customer service
  • Most policies require an exam
  • Long claim review process

Why Discover?

-Savings accounts offer $150 or $200 on high-yield savings accounts
- 1% cash-back rewards checking account
-Annual fee forgiveness: the bank will waive one fee (stop payment or insufficient funds) per calendar year

Learn more about banking with Discover

1.65% APY
$1 Min balance for APY
Yes FDIC Member