Discover Bank Promotions: $150 or $200 Savings Account Bonus [Nationwide] – Ends 9/14/23

Discover Bank is offering a $150 or $200 cash bonus when you open your first Discover Online Savings Account with a deposit of at least $15,000.

• Update 9/11/23: Some customers received a targeted offer via email with the same bonus amounts. Here is a direct link to the offer but you need to be targeted to qualify.
• Update 6/28/23: New offer available through 9/14/2023 with code GOBP623.
• Update 3/23/23: The offer has been extended to 6/15/23 and the promo code has changed to NW223.
• Update 12/27/22: The offer has been extended to 3/15/23 and the promo code has changed to GOBR323.
• Update 11/8/22: There’s a $500 deal that requires a $50,000 deposit rather than $35,000. Get details here.
• Update: The bank is also offering a $450 savings bonus that has a higher deposit requirement of $35,000. Read about the $450 offer here.

See the bottom of this page for more offers from Discover savings.

READ MORE: SEE BANK OFFERS THAT DON’T REQUIRE DIRECT DEPOSIT HERE

Discover Bank $150 or $200 Savings Bonus

• What you’ll get: $150 or $200 bonus
• Where it’s available: online, nationwide
• How to earn it:
  • Apply for your first Discover Online Savings Account (online, by phone or Discover App).
  • Enter the code on the offer page when applying.
  • Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus.
  • Deposit must be posted to account within 30 days of account open date.
  • Enter Offer Code GOBP623 when applying.
• When it expires: 9/14/2023

Is This Discover Welcome Bonus A Good Deal?

Due to the high deposit requirements, this Discover promotion is not as good as many of the best bank bonuses out there right now. If you have the money for the $15,000 or $25,000 deposit, it’s still worth considering.

Many banks give you a welcome bonus to get you to sign up, but then they charge you a lot of fees to make up for it later. But Discover has low fees, so if you qualify, the welcome bonus could be thought of as free money in your pocket.

READ MORE: GET THIS $200 PROMOTION FROM CHASE BEFORE IT’S GONE

Fine Print

• Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover.
• Eligibility is based on primary account owner.
• Account must be open when bonus is credited.
• Bonus will be credited to the account within 30 days of the account qualifying for the bonus.
• Bonus is interest and subject to reporting on Form 1099-INT.
• Offer may be modified or withdrawn without notice.

READ MORE: GET TOP BONUSES FROM CHASE, AXOS, BANK OF AMERICA, TD BANK, AND BMO.

Bottom Line

Discover Bank is a part of Discover Financial Services, which is one of the biggest companies in the U.S. that issues credit cards. Over the years, it has become known as a top online bank for both individuals and families.

If you want a new savings account with a high annual percentage yield (APY), don’t like paying fees, and have a few thousand dollars to put in as an opening deposit, the $150 to $200 Discover bonus may be worth looking into.

More from Discover:

• Earn Up To 5.00% APY: Discover Bank’s Best Online CD Account Offers (Available Nationwide)
• Discover Bank Money Market Account Earns up to 4.25% APY (Nationwide)
• Discover Bank $150 or $500 Savings Account Bonus [Nationwide] – Ended
• Discover Bank Bonus: $100-$150 Offer For Existing Customers [Targeted] – Ends 5/31/23
• Discover Bank Promotions: $150 or $450 Savings Account Bonus – Ended

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