Reg. Re: Proposed Rules for Customer Identification . FDIC insurance alone, regardless of the five-star rating, ensures that regardless of the solvency of the bank, I will be able to withdraw my full deposit when needed. Laurie April 1, 2019. Yes. Discover is one of the most recognized financial service providers in the U.S. Open an Online Savings Account. Can I transfer funds from my employer's retirement plan into an IRA CD? They are also FDIC insured. FDIC insurance is backed by the full faith and credit of the United States government. State/Territory. Is a Discover savings account safe? Member FDIC. Funds may be moved into an IRA CD from any qualified retirement account. Discover is FDIC insured (FDIC #5649), just like a traditional bank. The minimum deposit is $2,500. City. Yes, like most online banks, you can use the bank’s app to put money in your deposit accounts. Last Structure Change: 2013-05-15. FDIC-insured up to the maximum allowed by law. Can I transfer funds from my employer's retirement plan into an IRA CD? While they are relative newcomers to the banking industry, you can rest assured that your funds are FDIC-insured up to the maximum allowed by law, which at the time of this publication is $250,000. At Discover you get competitive rates that consistently exceed the National Averages. Our online savings account FAQ is here to help with your savings account questions. Search For Institutions. The standard insurance amount is $250,000 per person, per bank, per ownership category. This is why the FDIC# of Discover Bank is only four digits and dates back to January 1st, 1934. Bank Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC. Discover Bank is regulated by the FDIC and the Delaware State Bank Commissioner. Bank Specialty/Focus: Credit-Card Specialization. Routing #: 031100649. Unlike most online banks, Discover has a network of fee-free ATMs. For more information, visit the FDIC website. Yes, Vio Bank is FDIC insured (FDIC# 4063). Zip Code. It's also why their only location is 502 E. Market Street in Greenwood, DE. Corporate Website: www.discover.com. Foreign Offices: 0. Select State/Territory. The Federal Deposit Insurance Corporation (FDIC) protects consumers against loss if their bank or thrift institution fails. Funds may be moved into an IRA CD from any qualified retirement account. Funds in Discover Bank Accounts are insured by the Federal Deposit Insurance Corporation (FDIC) to the maximum allowed by law. Discover CD Rates. If I open an account with $15000 and receive the bonus and … Does Discover Bank offer mobile check deposits? However, it holds higher ratings from the BBB and the top three credit ratings agencies, which have also forecasted it to have a stable and positive outlook. Saving smarter means earning more – 5 times more interest than the National Savings Average 1. Discover is FDIC insured, just like a traditional bank. If a sale is successful, customers’ accounts are simply transferred. Zip Code. 1. The federal government protects your money for up to $250,000 per depositor, for each account ownership category, in the event of a bank failure. Since Discover is an online bank, you'll need to handle your business from a home computer, laptop, or mobile device. Funds on deposit at Discover Bank are FDIC-insured up to the maximum allowed by law. Data as of: 12/14/2020. Deposits at Discover® Bank are insured by the FDIC and the bank has earned a five-star “Safe & Sound” rating from Bankrate. Explore the FAQs on opening an account to deposits and withdrawals. Reply. Cheers, Jeni . Dear Ms. Best: Discover Bank appreciates the opportunity to comment on the joint notice of proposed rulemaking regarding "Customer Identification Programs for Banks, Savings Associations, and Credit Unions" (67 Fed. Thank you and have a wonderful day! Also yes, since it is FDIC insured, your cash is protected up to $250,000 by the federal government. It's $500,000 of protection if you open a joint account with a spouse. or call 1-800-206-4960. Your security is our highest priority. Corporate Structure. Savings account funds are FDIC-insured up to $250,000 per person per bank, so there's no risk of losing money if your bank goes under. Learn if your bank is insured, View locations, Review a bank's history, Get summary information. Discover Bank is an FDIC insured institution founded in 1911. Mobile Banking App. Discover Bank offers 12 terms of traditional CDs with terms ranging from three months to 10 years. Discover Financial is FDIC-insured, meaning that deposits up to $250,000 are protected by the FDIC if the bank were to fail. An FDIC insured account means if you have up to $250,000 in a bank account and the bank fails, the FDIC reimburses any losses you suffered. Please contact Discover directly if you need more info on opening an account with them. FDIC Insurance. 3 3. Yes. Overview 2020 General Information of the Parent Bank. In the unlikely event that the bank closes, your account is insured up to $250,000. 1; Deposits are FDIC-insured up to the maximum allowed by law; 24/7 U.S.-based customer service representatives; Manage your account online or with our mobile app; Discover a better way to save—accelerate your savings with AAA! Our IRA FAQ is here to help with your Traditional and Roth IRA questions. Discover Bank is a Delaware state chartered nonmember bank that is a wholly-owned direct subsidiary of Discover Financial Services. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. Why doesn’t Discover charge overdraft fees? I hope this helps. Compare Savings Accounts . US Bank Branches: 2. Discover Bank is FDIC-insured AND there are no monthly fees, no minimum balance requirements, and you won’t be charged for simply having an account – there really is no comparison when it comes to investing your savings with Discover. Is Discover CD Safe? Before opening a bank account, confirm that … Discover Bank’s Online Savings Account has no minimum balance requirement or monthly maintenance fees. This transaction is done via a Direct or Indirect Rollover. For more information, visit the FDIC website. No. Federal Deposit Insurance Corporation 550 17th Street, NW Washington. Number of Branches: 2. The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. In addition to the current promotion from Discover Bank, you can also take advantage of a range of great promotions from banks such as HSBC Bank, Chase Bank … Not all institutions are insured by the FDIC. Discover is owned by Discover Financial, the issuer of the popular Discover It credit card. DISCOVER BANK CD RATES. Is Discover Bank federally insured? The app offers a user-friendly way to manage your bank account. Provide feedback or submit a question about this page. Help is always available. The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. Yes, Discover Bank is FDIC-insured. It has approximately $111.14 billion in assets. DC 20429 . Discover Bank accounts are insured by the FDIC for up to $250,000 per depositor. When you choose to open a Discover Cashback Checking account, you are eligible to earn up to $360 cash back in a year. Funds on deposit at Discover Bank are FDIC-insured up to the maximum allowed by law. Became FDIC Insured: Jan 1, 1934. Yes, your Discover Bank money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). Account Balance: Interest Rate: APY 2: APY 5: APY 4: APY 4: Open an Account. The insurance covers up to $250,000 in deposits, per depositor, per FDIC-insured bank, per account ownership category. Discover Bank, an online financial institution, is currently offering generous bonuses when you apply for some of their accounts including checking, savings, money market and even CDs!To find out if Discover Bank is right for you, continue reading the review below.. As such, deposits of up to $250,000 are protected. 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