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:Â 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
