How do i deposit cash into my discover bank account

Q: Can you deposit cash to discover bank?

Digital-only banks like Discovers only allow you to withdraw cash from ATMs; you cant deposit cash or physical checks. Discover lets you deposit paper checks via its mobile banking app, or by mail to a Salt Lake City processing center.

At a glance

4.8

Rating: 4.8 stars out of 5

Bankrate Score

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CDs

Rating: 4.7 stars out of 5

MMA

Rating: 4.3 stars out of 5

Overview

Discover Bank is a great option for consumers who want to manage their credit cards and bank accounts in one place.

Highlights

Free Checking
High APY
No Monthly Fees

Overall

Discover Bank is an online institution within a financial services company offering various banking products, including deposit accounts, credit cards, personal loans and student loans. The checking account lets you earn cash back on qualifying debit card purchases. Discover’s online savings account comes with a competitive rate and no monthly fees.

Pros

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Discover doesn’t charge fees on any of its deposits products.
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Free checking account holders can earn cash back each month.
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The CDs, savings and money market accounts all pay competitive rates.

Cons

The $2,500 minimum deposit for CDs and the money market account is steep.
Discover’s outgoing wire transfer fee is higher than what many other banks charge.
Discover maintains only one branch, so it’s not ideal for those who wish to bank in person.

Discover Bank bank products

Discover Bank savings overview

The Discover Online Savings Account offers a competitive yield. There's no minimum deposit required to open an account and no minimum balance requirement. The account doesn’t charge a monthly service fee either.

Account holders won't get access to an ATM card, but Discover Bank offers free official bank checks and expedited delivery for them.

Pros

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The savings account pays a competitive yield.
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There’s no minimum opening deposit or balance requirements.
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There’s no monthly service fee.

Cons

An ATM card isn’t available for Discover Bank's online savings account.
There are higher annual percentage yields (APYs) available at other online banks.

Member FDIC

Savings Account

Rating: 4.8 stars out of 5

Bank experience

Discover Bank offers surcharge-free access to more than 60,000 ATMs nationwide and a mobile app earning positive scores in the App Store and Google Play. The app lets you deposit checks, pay your bills and find out account information, among other things.

While Discover operates only one branch, you can reach bank representatives 24/7 via phone.

Discover’s credit cards have a lot to offer as well. None of their credit cards charge an annual fee, and some award points or cash back. One such Discover card is the Discover it® Cash Back, which offers rotating quarterly bonus categories.

About Discover Bank

Discover Bank offers CDs, checking and money market accounts and a high-yield savings account. It has also become one of the largest credit card issuers in the country.

The Discover card made its debut in the mid-1980s when Sears, Roebuck & Co. still offered financial services. Sears’ bank, the Greenwood Trust Co., was later renamed Discover Bank in 2000. It is headquartered in Greenwood, Delaware.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.

Can you deposit cash to discover bank?

Digital-only banks like Discover's only allow you to withdraw cash from ATMs; you can't deposit cash or physical checks. Discover lets you deposit paper checks via its mobile banking app, or by mail to a Salt Lake City processing center.

How do I put money on my Discover account?

Here are your deposit options:.

Deposit a check with Discover's Mobile Check Deposit using your mobile device. ... .

Complete an online transfer from an eligible Discover Bank Account..

Complete an online transfer from an external bank account..

Set up Direct Deposit..

How do I put money on my Discover debit card?

How can I make deposits to my Discover Cashback Debit Account?.

Online transfer from an external bank account to your Cashback Debit Account..

Through Direct Deposit..

Deposit a check payable to you with Discover's Mobile Check Deposit Service using your mobile device..

Can I deposit cash at an ATM?

You can deposit cash at many ATMs, but not all of them. There's no universal rule on ATM cash deposits—it's at the discretion of the bank or credit union. But many financial institutions allow cash deposits at ATMs within their networks. You may know that most banks have ATM withdrawal limits.