Update 5/25/25: The $500 version is back with $50,000 deposit (enter Offer Code BONUS525D2). Also available the $150/$200 version with $15k/$25k (enter Offer Code SAVE325W3). Link for $150/$500 (valid through 6/11/25) and link for $150/$200 (valid through 1/30/26).
Offer at a glance
- Maximum bonus amount: $500
- 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 1/30/26 - Insured: FDIC
Contents
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- Offer may be modified/withdrawn.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 3/17/25: Extended to 9/11/2025 with code NW325
- 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/
$400bonus 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.
- 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.
No longer valid, Right?
DP:
05/06/25 – Opened with $25 initial deposit
05/13/25 – $25K push from Live Oak Bank
06/13/25 – $200 bonus paid as “Account Promotion”
I am being told that i have a $500 transfer limit for the first 30 days. Has anyone else come across that? So that means i’d have to pull from another account and push back out which might take more time. Ugh. Anyone else have this issue?
Huh, no. That is extremely odd. Have you ever had a relationship with Discover before? Like is this your very first account? I have my home equity loan through them and a credit card
Update, while that is what they told me over the phone, i waited 30 minutes and then. tried a $4K+ transfer and it worked. Not sure what the rep was talking about. And then i cancelled and the whole cancel trick is working. : )
Opened account in late May and just transferred $15K on June 2. Did the cancel trick the next day and the following day to get up to $51K.
Each time I transferred more than $5K, discover made me take a picture of my driver’s license and a selfie for authentication. The transfers went through after but had to do that about 5 times. Pulled out all but $25.
A DP for triggering account access suspended, and have to call in to unfreeze.
P1 did the cancel trick for 15k today, no issues.
P2 try to do the same cancel trick for 15k today, system said “Sorry we can’t complete this transfer please call”. Tried to remove the old external account & added a new external account, and then transfer, but still failed with same error message. A few hours latter received an email saying account access suspended, and I need to contact them to unlock. Just called and get unlocked.
I guess I’ll let P1 lower the transfer amount and use different amounts each time to try to avoid triggering the security flag.
Oh I wish you’d read my comment below 🙁 You could have avoided a lot of heartache. It gives you that error when you try to do the exact dollar amount back to back. You can change it by $1 and it’s fine. I did the transfer trick a truly absurd, reckless amount of times in the last 3 days and had no issues doing it that way. No calling, no removing external accounts.
Thanks for the tip. P1 has finished all today (lower amounts & different each time). P2 kind of triggered on their first transfer, I guess it might be another security rule (amount or account open time, login device etc.). Will play it safe here, and make an external deposit to meet the requirement for P2.
Is there any hold period for $50k and $500 bonus offer or one can withdraw the amount within few days after it is posted to the savings account.
Read the Verdict in this page.
Bummer. I forgot I had opened an account. This must have been years ago –
Our records show that you are ineligible for this promotion because you have opened a similar account in the past.
Did you get this ineligible response at the time off application?
Yes
I am unemployed and out of fucks. I am going for the $50k/$500 bonus even though I have like $6000 liquid at the moment.
Currently I’ve moved $1700 into the account and I’m transfer tricking it to hell and back. I am up to $9200 and hoping to hit the $15,000 today and then stop.
Here is what I’ve learned: they will sometimes tell you no. “Sorry we can’t complete this transfer please call”, You don’t have to call. They do this when I’m using the same dollar amount too close together. So I’ve been doing varied amounts. Eventually the original amount seems to “reset” and it stops giving the error.
I have transfer tricked 5 times in the last hour and no one has come down from on high to kick me in the face yet. THOUGHTS AND PRAYERS.
Best of Luck to you! Will be praying you can find a good job and get the bonus to boot keep your head up!
Thanks! I just hit the $15k so I am stopping. I will continue when more of my money is moved over there. I am astounded nothing bad happened. I have not yet received any confirmation of the $150
Awesome. Hopefully the first tier bonus will hit soon enough.
It seems that $500 for $50k deposit is not as good as treasury bond if my math is correct. So I guess I’ll pass.
I think this offer is better than T-Bills. Calculation is based on 90 days period only. Let’s do the math here :
So ideally discover pays you approximately $ 408 for 90 days
** No taxes has been considered here. If you have state tax the new benefit will go down from $408 – State tax, which doesn’t apply to T-Bills for state tax
I forgot that the savings account itself has interest accrued and only focused on the bonus. How dumb was I.
Is there any referral bonus offer active for Discover. Can P1 refer to P2 to get referral bonus which may stack with this offer.
It does not appear so. When I log in there’s not even an area to check. Side note: for me and P2 the Discover It card is also denying referrals and I’ve been wondering if it has to do with C1 taking them over.
As far as I’ve seen in the years since I’ve had Discover, referrals only exist for the credit card, none on the banking side of things.