When you hear the name Discover, you probably think of a shiny blue Discover Credit Card.
But Discover didnt stop with just credit cards.
Your credit card, checking, savings and CDs could all be in one handy place.
But is that the best choice for you and your finances?
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You also wont get pinged with any additional fees.
There are no fees for online bill pay and no overdraft charges.
We really like that this protection is offered for free.
Thats potentially an extra $30 coming your way each month.
Currently, this Discover savings account offers 3.30% APY, which is ten the national average.
Accordingly, the Discovers Money Market Account allows you to do just that.
The only major downside is the large minimum deposit of $2,500.
Both rates are competitive, but ultimately less than the interest offered by Discover Online Saving Account.
Did you know?
What Other Services Does Discover Bank Offer?
Discover Bank is a full service online bank that covers more than just your savings and checking accounts needs.
Retirement Accounts
Discover offers two types of retirement accounts:IRA CDsandIRA Savings.
Discover IRA CDsprovide guaranteed returns because you lock in your rate for a set term.
If youre looking for more flexibility, aDiscover IRA Savingsaccount might be a better option.
This retirement savings account provides the tax benefit of an IRA with the flexibility of a savings account.
We love the peace of mind this clarity affords.
In short, Discover has some solid loan offerings.
Both are pretty typical of what weve seen for other banking apps.
Basically, if Discover doesnt work, finding the right alternative is just a click away.
Each of these loans offer competitive rates and no fees as long as you pay your payments on time.
Yes, using Discover Bank is safe.
In short, your money is safe.
Discover Bank is a good choice for most consumers.
It has no monthly maintenance fees and no overdraft feesplus access to 60,000+ no-fee ATMs.
Its simple to use and easy to get an account.
Discover Bank offers convenient online banking that will fit the needs for most consumers.
Contributor Whitney Hansen covers banking and investing for The Penny Hoarder.
She also writes on other personal finance topics.
Freelancer Sean Cudahy contributed to this report.
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