Discover Bank Money Market Account Earns up to 3.40% APY (Nationwide)

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

• Update 1/5/26: Rate changed slightly.
• Update 6/27/25: Rate changed slightly.
• Update 4/22/25: Rates have changed, see below.
• Update 1/3/2025: The rates have changed. See 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.

READ MORE: SEE THE NATION’S BEST SAVINGS RATES HERE

Discover Money Market Account Details

• 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

TRENDING DEAL:

Barclays Tiered Savings Account - Earn $200 Cash Bonus & Up to 4.00% APY, 7x the National Average!

Earn up to 4.00% APY with the Barclays Tiered Savings Account and get a $200 bonus when you deposit $30,000 by 3/31/2026. No monthly fees, FDIC insured, and easy 24/7 online access...Show More

Earn up to 4.00% APY with the Barclays Tiered Savings Account and get a $200 bonus when you deposit $30,000 by 3/31/2026. No monthly fees, FDIC insured, and easy 24/7 online access — a smarter way to grow your savings. Show Less

Earn $200 & up to 4.00% APY

Go to the deal

READ MORE: WELCOME OFFERS FROM AXOS AND BMO.

Opening An Account

• They’ll need a few basics (like address and Social Security number).
• Make a deposit at the time of account opening or come back and do it later.
• Check your email for a confirmation.

Bottom Line

A nice rate from a well-known bank. Top competitors will have slightly better rates. Compare here.

More from Discover Savings:

• Discover Bank Promotions: $150 or $200 Savings Account Bonus [Nationwide] – Ends 3/12/26
• Earn Up To 4.00% APY: Discover Bank’s Best Online CD Account Offers (Available Nationwide)
• Discover Bank Promotions: $150 or $400 Savings Account Bonus [Nationwide] – Ended
• Discover Bank $150 or $500 Savings Account Bonus [Nationwide] – Ended
• Discover Bank Bonus: $100-$150 Offer For Existing Customers [Targeted] – Ended
• Discover Bank Promotions: $150 or $450 Savings Account Bonus – Ended

READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.

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