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From the same people who brought you the Discover credit
card. They can also be blamed or credited, depending on how
you look at it, for all those credit card reward programs.
They offer a rate that is slight above average. They offer
a tiered rate program, which is great if you have a good amount
of money. The minimum account balance is $2,500. To get the
decent interest rate, you need to have a minimum of $25,000.
They allow you pretty good access to your money, assuming
you have ATMS around you that accept Discover. I kept my eyes
out in my area for an ATM that accepts Discover. I found 3
in my area. They also allow standard check writing accounting
for the reason they refer to this account product as a Money
Market Account.
Overall, Discover sure isn't my favorite online bank. If
you have a good bit of money to put in this ($25,000 or more),
you could do a lot worse. If you don't meet that minimum,
there are a lot better choices out there.
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