CASHBACK CHECKING®
Account Guide*
An overview of product features
ACCOUNT
MINIMUMS
REWARDS
ACCOUNT
FEES
Minimum Deposit to Open an Account
$0
Ongoing Minimum Balance
$0
Earn 1% Cashback Bonus®
on up to $3,000 in Debit Card Purchases
Every Month
•
Up to $360 Cashback Bonus per year
•
ATM transactions, the purchase of money orders or cash equivalents, cash over
portions of point-of-sale transactions, and Peer-to-Peer (P2P) payments are not
eligible for cash back rewards. In addition, purchases made using third-party
payment accounts (services such as Venmo® and PayPal™, who also provide P2P
payments) may not be eligible for cash back rewards
Monthly Maintenance
$0
ATM Use
$0
No Discover Bank fees for using any ATM
No-fee withdrawals are available at over 60,000 ATM locations with your
debit card
• The ATM operator may assess a fee at other locations
•
•
$0
Debit Card Replacement
Standard Checks (Upon Request)
$ 0 for any standard check orders
$0
Official Bank Check
Expedited Delivery
ACCOUNT
POLICIES
$ 0 for official bank checks and replacement debit cards
Online Bill Pay
$0
Account Closure
$0
Deposited Item Returned
$0
Stop Payment Order
$ 15 per order to stop payment for 6 months
Wire Transfer
$ 0 for incoming wire transfers
$ 30 for outgoing wire transfers
Insufficient Funds
$ 30 for each item presented against your Account when insufficient funds
are available
• maximum of 1 fee per day
$ 0 for Discover Student Deposits Program Accounts
First Fee Forgiveness Program
In each calendar year (January 1 through December 31), the first eligible fee charged
to your Cashback Checking Account will be automatically waived and credited to
your account. Insufficient Funds and Stop Payment fees are eligible for the first fee
forgiveness program. Wire transfer fees are not eligible, and will not be waived even if
they are the first fee on an account in a calendar year.
When Your Deposits Are Available*
•
ACH and wire transfers initiated at an external bank
–– Same Business Day we receive the funds
•
ACH transfers initiated at Discover
–– Transfers initiated online are usually available 4 Business Days from the date of
your request
•
Check deposits (mobile/mail)
–– The first $200 will be available the next Business Day; the remainder is usually
available within 2 Business Days
•
Extended holds on your ACH transfers initiated at Discover and check deposits may
apply, please refer to the Deposits Account Agreement for further details
Continued on next page
Effective May 7, 2018
*This Account Guide summarizes product features. For complete information about your Account, refer to the Deposit Account Agreement.
©2018 Discover Bank, Member FDIC
BK.CAG.WIN.0518
CASHBACK CHECKING®
Account Guide*
An overview of product features
ACCOUNT
POLICIES
The Order in Which Your Deposits
and Withdrawals Are Processed
Business Day
•
ACH Deposits and, effective December 9, 2017, internal transfers, scheduled for
the next Business Day or later, are added to your Account at the beginning of each
Business Day
•
The following transactions are added to your Account throughout the Business Day
as they are received:
–– ATM withdrawals
–– POS debit card purchases (including temporary holds and settlements)
–– Overdraft protection service holds
–– Cash and official bank check withdrawals
–– Cash deposits
–– Internal transfers scheduled for the same day
–– Incoming and outgoing wire transfers
–– ACH withdrawals you initiate from your Account to an external account
–– Checks that you deposited to your Account that have been returned unpaid
–– Any related fees
•
Check deposits, other debits (checks, bill payments initiated by you through the
Account Center, and ACH withdrawals initiated externally), other fees, and interest
are added to your Account at the end of the Business Day
“Business Days” are Monday through Friday, excluding Federal Reserve Bank
holidays
Effective May 7, 2018
*This Account Guide summarizes product features. For complete information about your Account, refer to the Deposit Account Agreement.
©2018 Discover Bank, Member FDIC
BK.CAG.WIN.0518
SAVINGS
Account Guide*
An overview of product features
ACCOUNT
MINIMUMS
ACCOUNT
FEES
ACCOUNT
POLICIES
Minimum Deposit to Open an Account
$0
Ongoing Minimum Balance
$0
Monthly Maintenance
$0
Official Bank Check
$0
Expedited Delivery
$ 0 for official bank checks
Account Closure
$0
Deposited Item Returned
$ 0
Excessive Withdrawal Fees
$ 15 per item in excess of 6 qualifying transfers or transactions**
Stop Payment Order
$ 15 per order to stop payment for 6 months
Wire Transfer
$ 0 for incoming wire transfers
$ 30 for outgoing wire transfers
Insufficient Funds Fee
$ 30 for each item presented against insufficient funds in your Account
• 1 fee maximum per day
First Fee Forgiveness Program
In each calendar year (January 1 through December 31), the first eligible fee charged to
your Online Savings Account will be automatically waived and credited to your account.
Excessive Withdrawal, Insufficient Funds, and Stop Payment fees are eligible for the first
fee forgiveness program. Wire transfer fees are not eligible, and will not be waived even if
they are the first fee on an account in a calendar year.
Interest Calculation Frequency
Daily
When Your Deposits Are Available*
•
ACH and Wire Transfers initiated at an external bank
–– Same business day we receive the funds
•
ACH Transfers initiated at Discover
–– Transfers initiated online are usually available 4 business days from date of
your request
•
Check Deposits (Mobile/Mail)
–– The first $200 will be available the next business day; the remainder is
usually available within 2 business days
•
Extended holds on your check deposits may apply, please refer to the Deposits
Account Agreement for further details
Continued on next page
Effective May 7, 2018
* This Account Guide summarizes product features. For complete information about your Account, refer to the Deposit Account Agreement.
**Federal law limits the number of certain types of withdrawals and transfers from your Money Market Account or Savings Account to a combined total of six (6) per calendar month per Account. There is no limit on the
number of withdrawals by Official C
heck mailed to you. If you exceed these transaction limitations during any calendar month, we may assess an Excessive Withdrawal Fee or refuse to pay each transaction in excess
of the limitations. If you exceed these limits on more than an occasional basis, we reserve the right to close your account.
©2018 Discover Bank, Member FDIC
BK.SVAG.WIN.0518
SAVINGS
Account Guide*
An overview of product features
ACCOUNT
POLICIES
The Order in which Your Deposits
and Withdrawals are Processed
Business Days
•
ACH Deposits and internal transfers scheduled for the next Business Day or
later are added to your Account at the beginning of each Business Day
•
The following transactions are added to your Account throughout the Business
Day as they are received:
–– ATM withdrawals
–– POS debit card purchases (including temporary holds and settlements)
–– Overdraft Protection Service holds
–– Cash and official bank check withdrawals
–– Cash deposits
–– Internal transfers scheduled for the same day
–– Incoming and outgoing wire transfers
–– ACH withdrawals you initiate from your Account to an external account
–– Checks that you deposited to your Account that have been returned unpaid
–– Any related fees
•
Check deposits, other debits (checks, bill payments initiated by you through
the Account Center, and ACH withdrawals initiated externally), other fees, and
interest are added to your Account at the end of the Business Day
“Business days” are Monday through Friday, excluding Federal Reserve
Bank holidays
Effective May 7, 2018
* This Account Guide summarizes product features. For complete information about your Account, refer to the Deposit Account Agreement.
**Federal law limits the number of certain types of withdrawals and transfers from your Money Market Account or Savings Account to a combined total of six (6) per calendar month per Account. There is no limit on the
number of withdrawals by Official Check mailed to you. If you exceed these transaction limitations during any calendar month, we may assess an Excessive Withdrawal Fee or refuse to pay each transaction in excess
of the limitations. If you exceed these limits on more than an occasional basis, we reserve the right to close your account.
©2018 Discover Bank, Member FDIC
BK.SVAG.WIN.0518