Offer at a glance
- Maximum bonus amount: $300
- Availability: Nationwide, only available to current Discover credit card or deposit customers (if you have the Discover it orDiscover secured credit card, you’ll be eligible). You can always create a savings account first
- Direct deposit required: Yes, two direct deposits of $250+
- Additional requirements: None
- Hard/soft pull: Soft
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: Couldn’t find any mention of an EATF
- Expiration date: November 15th, 2015
The Offer
- Receive a $300 bonus when you open a Discover checking account and receive two direct deposits of $250+ within 90 days of account opening
- You’ll also receive a 10¢ bonus for every one of the following you complete (limit of 100 per month, this promo is for the life of the account currently)
- Debit card transaction
- Online bill payment
- Checks cleared
The Fine Print
- Open to current Discover credit cardmembers or deposit customers, excluding current or previous CashBack Checking customers
- Direct Deposit transactions are limited to: payroll, Social Security, pension, and government benefits
- Bonus will be issued as a credit to your account within 30 days of completing all requirements
- Account must be open when bonus is issued
- Limit 1 per customer per account
- Minimum opening amount of $25
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
This account has no monthly fees and as far as I could find no early account termination fee (although with no monthly fees you might as well keep it open).
Our Verdict
When this bonus was only $50, I said I didn’t really think it was worth it. Now that it’s $300, it’s definitely worth it. The one slight problem is that it now needs two direct deposits, but given you have 90 days for them to post and the bonus posts after 30 days of meeting the requirements you should be able to try multiple things to trigger this requirement (and if all else fails change your payroll). As such we’re adding this to our best bank bonus list. Please share your experiences with this bonus in the comments below.
Hat tip to Danny Deal Guru
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William,
what is the CFPB? I signed up for this as soon as it was available
Consumer Finance Protection Bureau.
I was rejected to get $300 and I meet all the other conditions because I did not get the offer in the mail. However, the offer was freely available online and I was a member of Discover already. Does anyone have a screenshot of the offer or offer conditions? I was even told by a representative that I am able to get this offer.
Same here. I applied using the promo code, and made actual direct deposits from my employer. No bonus was given. I sent a message, and they say they are rejecting my claim because I was not targeted.
Does anyone have a solution, other than filing a complaint with the CFPB? Or is that the only way to go?
“Here at Discover Bank our account opening promotions are only applied to accounts that have been offered the specific promotion. Since you were not targeted for the promotion in question you would not qualify. These promotions are nontransferable from one Discover Card customer to another. In order to open a promotion dispute for you we would need for you to upload proof of the invitation you received prior to opening the account.”
This is my first bank account with Discover, and obviously my last.
File with the CFPB if you applied before it had the targeted language in the fine print.
William, thanks for your reply.
When did the language in the fine print change to only targeted people? I’ve searched through several places that talk about this deal, and nowhere can I find any language whatsoever about it being targeted.
I think I signed up November 14, the day before the promo expiration.
Not sure when it changed to targeted only to be honest, but was well before the promo expiration date.
I opened the account on 10/31. So 90 days from it is 1/29. Coincidentally the second direct deposit also falls on the same day. Will I be getting the bonus on this promo by any chance?
I’d add an ACH and hope that counts as direct deposit.
I forwarded my “you’re eligible for the $300 checking bonus, but we are working on it” complaint to the CFPB as well. After 2 emails and no actionable response from Discover, I ‘escalated’ it to the Gov’t.
Guy from ‘Executive Office’ calls me and says he’s disappointed I forwarded my concern to the CFPB. So I told him I was disappointed that after 2 customer service interactions that told me I was getting the bonus (2 months out now), that I too was ‘disappointed’ in Discover. Will see if they finally capitulate.
Stop blowing smoke my way and act on it! Geesh.
Finally got paid today! $300, not sure what the holdup was or if they will ever tell me. I’m going to promptly cancel this account as soon as ACH transfer out clears. Good riddance
@Darv…. oh no! Bank of the West had a promo I just applied for…. I’m not in for this roller coaster again 🙁
I initiated $250 transfers from Ally Bank on 11/10, 11/17, and 11/18. Still nothing.
Anyone have any Ally luck? Considering using Serve or Paypal.
12/8 ACH from Bluebird
12/18 ACH CapOne360
Had just sent another CapOne360 since I wasn’t sure the BB would work, but!
12/24 $300 smackers.
My first banking bonus and a doozy! I’ve been having trouble signing up for some since I am overseas now, won’t be back for a few months. The Citizen’s Bank and Ocean First wanted me to go in branch. Now I’ll try my luck with 1st TN.
$300 bonus posted on 12/24. Thanks Doc. It has been a great year for bank account sign-up bonuses!
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Is this offer still valid? Please let me know.