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
Contents
The Offer
Direct link to offer | $400 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.
- 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- Offer may be modified/withdrawn.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.
Are people waiting for a higher bonus or just doing the current promo because there may not be other Discover bonuses in the future with CapOne buying them?
This is the standard Discover bonus. I wouldn’t expect them to raise it. You might want to go ahead.
It looks like this has been extended until 3/14 with a new code of HMB124.
https://www.discover.com/online-banking/savings-lng-04/?TPR=087&cmpgnid=affl-bk-offer&src=HMB124&van=Dbank&dclid=CMSz68jIkIQDFZ7QTwIdLxgDNQ
William Charles Chuck
Does BONUS1023D still work?
Nope, just tried it right now. “We’re sorry, that code has officially expired.” I guess I’ll wait for it to be back to $400 or $500 like other people say. Can only do the bonus once.
I can get to the $400 offer by entering that code as a URL so discover.com/BONUS1023D – the landing page says “Offer ends 11/16/2023, 11:59 PM ET”
I wonder if this would secretly still work.
Nevermind, it says it expired once the basic application info is entered.
10/26 Account opened
11/3 Transfer from Huntington $13800
11/3 Transfer from SoFI $5600
11/6 Transfer to Huntington -$5600
11/9 Transfer to Chase -$5000
11/14 Transfer from Huntington $5500
11/14 Transfer to Citi -$14000
11/15 Transfer from Chase $5500 – this now totals $30400 in deposits
12/10 Account Promotion $150
12/17 Account Promotion $50
12/29 Account Promotion $200 – this totals $400 for the bonus for $30K+ deposits, as promised with code BONUS1023D
If you make the whole required deposit at once, you will get the whole bonus at once. If you just pump money in and out like I did, you get the bonus in phases.
I opened the account on June 22 and did not receive the bonus.
They say there is no bonus code attached to my application.
Can anyone tell me if they know what code was valid on June 14?
I forgot to do a print screen of the offer.
Thanks
there is posting here saying the following:
DA
June 18, 2023 14:24
#1636745
Deal is extended using new code “BNR623” with Offer end date 09/14/2023, 11:59 PM ET. Surprisingly, I found it by clicking “Direct link to offer” on DoC discover bonus.
Did anybody use this code? thanks
I could not open the account at all that time due to some issue in the application stage.
When I opened recently with a different code, I got the offer code confirmation with detailed terms in the packet. Regardless, I would always take a screenshot of the offer to avoid issues later.
I would close the account and reopen with a new offer if I hadn’t received any bonus and getting no support from customer care.
Thanks!
wish they bring this offer to existing customers
They target periodic offers to existing customers. Just had one a few months back.
https://www.doctorofcredit.com/targeted-existing-users-discover-150-200-savings-bonus/
Celia how do you put a link in your name? thank you
Chan Everything you ever wanted to know… 🙂
https://www.doctorofcredit.com/why-you-should-add-an-email-and-website-link-to-your-doctorofcredit-comments/
It’s an okay offer, but there are better ones out there right now. There’s a helpful Facebook group with data points, and step-by-step posts on how to complete many bank bonuses, both checking and savings accounts. A lot of knowledge in the group: Bank Bonus & Credit Card Pts for Free Travel
Oh cool, what’s the probably the best savings account offer posted in the Facebook group you run right now?
Bruno I tried joining the group in facebook, but was declined. I live in Texas, but I have a chinese name (with my english name next to it). Can you assist?
Wait and it might bring back the $500 bonus
no. no. no.
i still waiting for 500$ bonus with deposit of 50k
Did you do the CIBC $500 for $50K that ended a few weeks ago?
I did
William Charles Chuck Deal extended until 3/14
Link: https://www.discover.com/online-banking/savings-lng-04/?TPR=058&cmpgnid=ps-bk-ggl-nonchck-bnd-phr-prosp-osa-off&src=GBPP124&van=Dbank&gad_source=1&gclid=EAIaIQobChMIgbbTnfitgwMVcUxHAR1T7QHoEAAYASAAEgJWEPD_BwE&gclsrc=aw.ds