Discover® is a popular online bank that may be best known for its cash-back credit cards. But Discover also offers other banking products, including a checking account, certificates of deposit, a money market account and one of the best no-fee savings accounts on the market. Here is the Discover new-account promotion currently available. Offer details and rates are accurate as of November 1, 2024.

Discover Promotions for 2024

Discover® Cashback Debit Checking Bonus

Discover Bank doesn’t currently offer any checking account bonuses. However, customers can earn up to $360 in cash back per year with the Discover Cashback Debit Card. This card is linked to Discover® Cashback Debit Checking and earns a bonus worth up to $30 per month or $360 per year.

  • What is the offer? Open a Discover Cashback Debit Account and earn 1% cash back on up to $3,000 in debit card purchases each month. See website for details.
  • What is considered a purchase? Virtually any purchase you make with your debit card counts, except for the following: ATM withdrawals, money order purchases, cashback from point-of-sale transactions, peer-to-peer payments, third-party payments and loan payments.
  • When do you receive your bonus? Discover will deposit the cash back into your Cashback Debit Account one business day day after your monthly statement period ends.
  • Is there a time limit on the offer? This promotion does not expire.

Discover it® Cash Back Offer

The Discover it® Cash Back is a great way to earn cash back on your everyday purchases. This Discover card offers 5% cash back on everyday purchases at different places each quarter up to a quarterly maximum of $1,500 in spending when activated. Plus, earn unlimited 1% cash back on all other purchases.

You also get unlimited Cashback Match, which means Discover will automatically match all the cash back earned at the end of the first year as a cardmember. There's no minimum spending or maximum rewards. So if you earn $250 in rewards your first year, Discover will give you another $250 on top of that.

  • What is the offer? Open a new Discover it® Cash Back and Discover will match any cash-back rewards you earn during your first 12 billing cycles.
  • What is considered a purchase? Virtually any purchase you make with your card is eligible for this cashback credit card offer with few exceptions, including cash advances, balance transfers and purchases made with points or rewards.
  • When do you receive your bonus? Discover will deposit the bonus into your account within two billing cycles after your one-year account anniversary.
  • Is there a time limit on the offer? This Discover card promotion does not expire.

Is a Discover Welcome Bonus a Good Deal?

Discover’s promotions are not as attractive as many of the best bank bonuses available today.

Still, many banks lure you in with an enticing welcome bonus, only to charge excessive fees to make up for it down the line. But Discover charges minimal fees, meaning the welcome bonus may be considered truly free money in your pocket if you qualify.

Bottom Line

Discover Bank is a subsidiary of Discover Financial Services—one of the largest credit card issuers in the U.S. It’s built a name for itself over the years as a leading online bank for individuals and families alike.

If you are in the market for a new checking account and don’t like paying fees then a Discover account may be worth considering.

Find The Best Bank Bonuses & Promotions Of 2024

Learn More

Frequently Asked Questions (FAQs)

How do you close a Discover bank account?

To close your bank account, call Discover customer service at 800-347-7000 and initiate a request. Depending on your account type, you may be asked to submit your request in writing. Before beginning the account closure process, be sure to transfer all the money out of your Discover bank account, so the balance is $0.

How do you deposit cash into a Discover bank account?

Like most online banks, Discover Bank doesn’t accept cash deposits. However, if you have cash, an alternative approach is to buy a money order and deposit it via the mobile app.

How do you get a cashier’s check from Discover Bank?

You can request an official bank check from Discover through your online account or by calling customer service at 800-347-7000. However, you can not get an actual cashier’s check from Discover Bank.