Discover Savings Account $150/$200 Bonus

Update 9/21/24: Deal is back at this link. Valid through 3/13/2025

Update 9/5/24: Offer is back at this new link with Code GBPP624. Valid through 9/12/24. (ht matt f)

Update 5/24/24: Deal is back $150/$200/$400 bonus available this time. Although apparently the $400 bonus is a mistake? $400 bonus not showing anymore

Update 12/27/23: Deal is back, this time $150/$200 only.

Update 11/2/23: Reader Wires2K reports that promo code BONUS1023D works for $400 bonus with a lower $30,000 deposit.

Update 10/28/23: Added new link with additional option for $400 bonus with $45,000 deposit. This link expires earlier on 11/16/23. (ht Stanley)

Update 10/27/23: Deal is back and valid until 12/14/23.

Offer at a glance

• Maximum bonus amount: $400
• Availability: Nationwide
• Direct deposit required: None
• Additional requirements: Deposit $15,000 for $150 bonus, or $25,000 for $200 bonus
• APY: 3.60%
• Initial Deposit: None
• Hard/soft pull: Soft
• ChexSystems: No for Online Savings
• Credit card funding: None
• Monthly fees: None
• Early account termination fee: None mentioned
• Expiration date: Open by 06/15/2023
• Insured: FDIC

The Offer

Direct link to offer | $400 link | new link

• Apply for your first Discover Online Savings Account, AND
• Enter offer code GOBP623 when applying, AND
• Deposit a total of at least $15,000 into your account within 30 days to earn a $150 Bonus, OR
• Deposit a total of at least $25,000 into your account  within 30 days to earn a $200 Bonus.
• Deposit at least $45,000 within 45 days of account open date to earn a $400 bonus
• According to this datapoint cumulative deposits will work, YMMV as always. Lots of DP suggesting this works now.

 

The 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 (this bit is new)
• Account must be open when bonus is credited.
• Bonus will be credited to the account by 11/4/19.
• Bonus is considered interest and will be reported on IRS Form 1099-INT.
• Offer may be modified/withdrawn.

Avoiding Fees

Discover’s Online Savings Account does not have any fees, nor any minimum balance requirement. You can withdraw any funds you wish after fulfilling the $25,000 (or $15,000) deposit requirement.

Early Termination Fee

There is no mention of an early termination fee according to the Online Savings Account Guide. You must, at minimum, leave the account open until the bonus posts, or November 30, 2017.

Our Verdict

The deposit requirement increasing to $25,000 shouldn’t matter too much as it looks like cumulative deposits work anyway. The best part of this deal is that there is no deposit minimum length so you should be able to deposit the (or $15,000) and then immediately withdraw it. In the past the bonus has posted 5–15 days after the deposited has been received but recently it has been taking much longer. A lot of people like these Discover bonuses because they also offer a decent APY (0.40% currently), although there are better APYs available. This is one of the best savings account bonuses currently available.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications

Deal History

Quick note: The bonus usually isn’t extended as such, but a new deal with a new promotion code comes along and we just use the verbiage ‘extended’. Obviously no guarantee they will continue to do so.

• Update 7/21/23: Deal is back and valid until 09/14/2023.
• Update 3/23/23: Offer is back at this link through 6/15/23. Use Offer Code NW223.
• Update 12/21/22: Deal is back. Offer ends 03/15/2023, 11:59 PM ET.
• Update 10/23/22: There’s a new, better version which offers up to $450 bonus. Valid through November 8, 2022.
• Update 9/21/22: Deal is back through 12/15/22 (ht alopez14)
• Update 8/13/22: Looks like the $500 option has now expired. If anybody finds a working offer let us know.
• Update 7/28/22: Looks like there is a new $500 option with promo code BONUS722E1. Requires a $50,000 deposit, code seems to apply for anybody but no landing page so possibly YMMV. Hat tip to usccstrategy
• Update 6/21/22: Deal is back and valid until 9/15/22. New promo code is GOBR622
• Update 1/3/22: There is also a direct link working again. Promo code OR222. Hat tip to chooseyourusername17
• Update 12/30/21: Direct link is no longer working, but promo code SAVEQ122E2 should work until 3/30/22. Hat tip to reader Celia.
• Update 10/23/21: Deal is showing again.
• 10/19/21: Cumulative deposits seem to still be working, as always still a risk.
• Update 9/24/21: Hello old friend…this deal is finally back again. Unknown if cumulative deposits will still work or not. Hat tip to reader Gadget & Dev
• Update 4/7/20: Extended until 5/11/20.
• Update 3/2/20: Deal has been extended until 4/6/20 (hat tip to reader Pat)
• Update 2/4/2020: Deal has been extended until 3/2/20
• Update 1/7/20: Deal has been extended until 2/3/20.
• Update 12/3/19: Deal has been extended until 1/20/20
• Update 11/6/19: Deal has been extended until 12/2/19
• Update 10/8/19: Deal has been extended until 11/4/19.
• Update 9/10/19: Deal extended until 10/7/19
• Update 8/6/19: Deal extended until 9/9/19
• Update 7/2/19: Deal extended until 8/5/19
• Update 6/5/19: Deal has been extended until July 1st, 2019. I’ve updated the promo code and expiration dates below.
• Update 6/5/19: Deal has been extended until July 1st, 2019. Updated the promo code.
• Update 4/2/19: Deal has been extended until June 5th, 2019.
• Update 3/5/19: New code and now valid until April 1st, 2019.
• Update 2/5/19: New code and valid until 3/4/19 now.
• Update 1/16/19: Yesterday there was a small issue with the promo code, that has now been resolved.Update 01/15/2019: There is a new working link and code. This time good for applications through February 4th, 2019.
• Update 12/04/2018: There is a new working link and code. This time good for applications through January 14th, 2019.
• Update 11/03/2018: There is a new working link and code. This time good for applications through December 3rd, 2018.
• Update 10/09/18: There is a new working link and code. This time good for applications through October 31st, 2018.
• Update 09/10/2018: There is a new working link. This one is definitely not an affiliate link of any type.
• Update 07/20: There is a new working link that doesn’t look like it’s a NerdWallet link, but might be an affiliate link for another site.
• Update 07/12/18: There is a new working link that is valid until 7/31/2018. This is another NerdWallet link and they will get comission if you use it. I personally don’t like NerdWallet as they are affiliate link focused and don’t always post the best deals. That being said I want my readers to have the best choice possible so that’s why I’m adding it. If anybody finds a non NerdWallet link let us know. You might also just be able to use promo code SAVE718E1 or SAVE718E2 and it should work. We don’t receive anything if you use the NerdWallet link or any other bank account bonus or credit card link as we believe remaining independent is important.
• Update 06/05/18: Bonus has been extended until 6/29/18
• Update 05/18/18: Gadget & rediff found a new working code: SAVE518E1. This means NerdWallet won’t get paid when you use this code. This link should also work, but not sure if it’s one time use or not.
• Update 05/09/18: Deal is back and valid until 6/4/18. New promo code is NW518. Sadly I think this is an exclusive offer to NerdWallet and they get paid if you use this link. Personally I hate NerdWallet because I find they suggest inferior offers on a regular basis but this Discover Savings bonus is a great deal. I’ve tried to get Discover to agree to give money to charity instead of paying out affiliate commissions but they never respond.
• Update 03/27/18 : Deal has been extended until 05/04/2018. New promo code is SAVE318D2. Hat tip to reader Gadget.
• The Discover savings bonus has been extended again until April 2nd, 2018.
• Offer has been extended again. You must now open it by 02/28/18 and deposit by 03/14/18
• Originally posted on September 19th, 2017. Reposting on November 2nd, 2017 because the offer has been extended. The $200 offer now requires a deposit of $25,000 instead of $20,000. Bonuses for AAA & AAII have not been extended yet.