Discover Bank Money Market Account Earns up to 4.05% APY (Nationwide)

Discover offers a popular money market account option that’s available online and earns a competitive rate. Get the details below.

Update 9/25/2024: The rates are now up to 3.95%.
Update 1/19/2024: Rates remained the same. Consider this savings account from CIT, which offers a much higher return.
Update 7/27/2023: Rates are now up to 4.25% APY.
Update 6/25/2023: Rates are now up to 4.10% APY.
Update 6/11/2023: Rates for their Money Market account are now up to 3.95% APY.
Update 5/23/2023: The APY rates for their Money Market Account increased from up to 3.70% to up to 3.85%.
Update 4/17/2023: The APY rates for their Money Market Account increased from up to 3.55% to up to 3.70%.
Update 2/27/2023: The APY rates for their Money Market Account increased from up to 3.45% to up to 3.55%.
Update 2/27/2023: The APY rates for their Money Market Account increased from up to 3.35% to up to 3.45%.
Update 2/21/2023: The APY rates for their Money Market Account increased from up to 3.25% to up to 3.35%.
Update 12/27/2022: The APY rates for Discover’s Money Market Account increased from up to 2.95% to up to 3.25%.

Discover Bank is an online-only bank and has no retail branches. They are able to offer better rates by operating their banking services online. Their line of deposit accounts include Savings, Checking, Money Market, CD, and IRA CD accounts.

Discover Money Market Account Details

3.90% APY for balances under $100,000
3.95% APY for balances $100,000 and over
No fees, including:
- Minimum balance fees
- Withdrawals at over 60,000 ATMs nationwide
- Replacement debit card
- Standard checks
- Official bank check
- Online bill pay
- Expedited delivery for debit card replacement
- Expedited delivery for official bank checks
- Deposited item returned
- Excessive withdrawal fee Opens modal dialog
- Stop payment order
- Insufficient funds
- Account closure
Customer service is available 24/7