Discover Savings Accounts provides high interest savings accounts for those who are good with numbers. Some savings accounts require an annual fee, while others do not. A few Discover cards do not have any fees at all. In fact, there are no fees associated with the Direct Deposits, High Interest Money Market or the Money market accounts.
The Discover Money Market savings account offers a low fixed interest rate of 4.5%. When comparing with the national average, this is very low. Most money market account offers a higher interest rate such as the Niacin Prudential savings account offers 6.6%, though this may vary from time to time. There are other online banks that offer higher interest rates than the Discover Money Market account.
In comparison to other national banks, the online banks offer competitive interest rates. While it's impossible to know which bank you will ultimately choose, you should compare their high-yield savings accounts to the national average to get an idea of which bank has the best deals. When comparing the online banks, be sure to check out all their high-yield savings accounts. These are the accounts that offer higher interest than traditional certificates of deposits and savings accounts. You can find these at some of the online banks mentioned in this article.
Fees associated with each bank vary greatly. Some banks offer no fee checks while others charge an annual membership fee for debit card transactions only. Many of the debit card processing fees can add up over time to more than just the balance in your checking or savings account. Before you decide upon a financial institution, check out their terms and conditions regarding fees.
Fees for debit accounts are usually lower than those for traditional bank accounts. Fees for ATM use are usually higher at brick-and-mortar banks, but not always. Also be aware of ATM usage fees when deciding between the two types of institutions. Lastly, make sure the bank offers enough flexibility to keep you up-to-date on what's going on within your financial portfolio. You want a bank that can give you accurate information at all times without any unnecessary delays.
Look for competitive rates and low minimum balances. If you're a little concerned about saving money on interest, consider a no-interest introductory period on your new accounts. You will quickly pay down your balance and avoid paying fees and penalties. Finally, choose an institution that offers you the tools you need to manage your accounts effectively. Most people will prefer to keep their banking needs simple with a checking, savings, and debit card combination service. But if you have a lot of debt and frequently spend money that you don't actually have, you may want to explore the options that the internet provides to help you manage your money.
Discover card application status checks are quick, easy and free! The application status is updated every fifteen minutes for up to the minute status updates on your applications. If you have applied online, you will receive an e-mailed status update even if you apply by telephone or mail. Just click on the Apply Now ...