Banking and Finance

Discover Bank | Banking Fees

July 27, 2021

According to some studies, people lose nearly $170 a year just in monthly bank fees. Others report that over the course of a decade you can lose out on at least a $1,000 in hidden fees and maintenance costs simply for having an open account with a bank. 

At Earn Cheese, we’re dedicated to ensuring that our users pay $0 in monthly fees while enjoying other zero-fee perks such as no overdraft fees, no international wire fees, and no minimum balance fee. Larger banks such as Discover Bank aren’t usually able to offer the same level of fee-free assistance. However, because Discover Bank is an online bank (they only have two offices in Delaware), they do offer better fees than most banks.

So, how much do you pay to open a bank account with Discover Bank? What are the fees associated with a Discover Bank debit card? And, what are your options with various different types of Discover debit cards? We’ve got the answers for you.

How Much Are Discover Bank Debit Card Banking Fees?


How Much Does it Cost to Open a Bank Account at Discover Bank?

Some large, international banks require that you meet a minimum opening deposit requirement in order to open an account with them. Discover Bank is one of the simplest banks when it comes to checking accounts as they currently only offer one option.

The Basic Checking Account from Discover Bank is about as simple as it comes, and it’s due to the fact that Discover Bank is an online bank. Without having to pay overhead fees, employee salaries, and other costly expenses, they’re able to offer fee-free checking accounts.

So, the Discover Checking Account comes with $0 in fees, which means no monthly maintenance fees and no balance or activity requirements.

What Are the Different Kinds of Discover Bank Checking Accounts?

To have a Discover debit card, you’ll have to open a checking account. And, as mentioned, Discover Bank offers only one checking account option. However, it’s quite impressive in terms of checking account perks.

What are some of the perks of a Discover Bank Checking Account?

  • 1% cashback on up to $3,000 in debit card purchases each month.
  • Access to over 60,000 no-fee ATMs in the United States.
  • No fee for insufficient funds.
  • No-fee outbound ACH transfers.
  • Free replacement debit card
  • Access to online bill pay.

When compared to Chase Total Checking, CitiBank Basic Checking, and Bank of America’s Advantage Plus Banking, this is actually quite a great deal. However, it’s important to note that other traditional banks do offer savings perks and cashback if you upgrade to more premium accounts.

What Are the Other Discover Bank Monthly Banking Fees?

Discover Bank doesn’t charge any account-related fees. However, there is a $30 service charge for each outgoing wire transfer from your Discover bank account.

To prevent overdraft fees, you’ll want to enroll in Discover Bank’s overdraft protection service. Click here for more information about overdraft protection at Discover Bank.

And, the Discover Bank wire transfer fees are as follows:

  • $0 for incoming wire transfers (both international and domestic)
  • $30 for outgoing wire transfers (both international and domestic)

What’s A Better Banking Option Than Discover Bank?

While there aren’t many fees associated with a Discover Bank checking account, their basic checking account doesn’t really offer you the chance to rack up rewards in the form of cashback. At least, not at the rate that Cheese does.

The Cheese Debit Card allows you to earn cashback on all spending. And, it does so while allowing you to enjoy zero fees. No banking fees, high cashback rates, and even the chance to earn multiple Cheese Rewards? It’s as good as it sounds. Sign up to join us today.

Here's more info about banking fees:

Bank of America | Banking Fees

Chase | Banking Fees

CitiBank | Banking Fees

US Bank | Banking Fees

PNC Bank | Banking Fees