Discover Bank Review 2022: Checking and Savings Accounts

When you hear the name “Discover,” you probably think of a shiny blue Discover Credit Card. That’s understandable, as the Discover Card is one of the largest credit card issuers in the United States with approximately 57 million credit card holders.

But Discover didn’t stop with just credit cards. The financial services giant got into virtual banking with Discover Bank, an online bank that offers checking, savings and more.

If you use a Discover Card, you may be inclined to pull your financial services together under one company. Your credit card, checking, savings and CDs could all be in one handy place.

Even if you aren’t an existing or prior customer, Discover’s banking services stand on their own, offering competitive rates, no required minimum balance for checking or savings accounts, and free overdraft protection.

But is that the best choice for you and your finances? Our review will give you an honest look at the bank’s checking and savings features and other financial services Discover offers, so that you can make an informed decision about where you do your banking.

Discover Checking Account

Discover Bank’s checking account is actually called the Discover Cashback Debit account, but it operates much like a standard checking account with a few additional benefits — mainly no minimum deposit and no monthly fees.