Just Open Discover Cash Back Checking!!!! It is available now.

[Boo1234]

Is it really 10 cents per debit card use?  What if you were to use it to charge microtransactions like 1 or 2 cents each, which is possible on some online sites?  You can make 8 or 9 cents profit?

[longtimelurker]

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@Boo1234 wrote:

Is it really 10 cents per debit card use?  What if you were to use it to charge microtransactions like 1 or 2 cents each, which is possible on some online sites?  You can make 8 or 9 cents profit?

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Some people did the same with the Chase Freedom (when those with checking accounts got 10+10 per tranasction).  SOmeone posted their 300+ page bill for one month.  Chase shut them down, presumably Discover would do the same.

Trouble with this sort of stuff is it takes A LOT to make it even remotely worthwhile, and that increases the risk of detection.  (As compared to say, VR with a 5x card, where you can buy 4 cards, and make $80, and stop, feeling deliciously naughty, whereas here you would have to make 800 micro transactions.)

[nyancat]

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@bostonte wrote:
The post means $200 available next day, the balance on the second business day - not that there is a $200 deposit limit.

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Oh, okay. I was like "whoa"

[FinStar]

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@longtimelurker wrote:

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@Boo1234 wrote:

Is it really 10 cents per debit card use?  What if you were to use it to charge microtransactions like 1 or 2 cents each, which is possible on some online sites?  You can make 8 or 9 cents profit?

---

Some people did the same with the Chase Freedom (when those with checking accounts got 10+10 per tranasction).  SOmeone posted their 300+ page bill for one month.  Chase shut them down, presumably Discover would do the same.

Trouble with this sort of stuff is it takes A LOT to make it even remotely worthwhile, and that increases the risk of detection.  (As compared to say, VR with a 5x card, where you can buy 4 cards, and make $80, and stop, feeling deliciously naughty, whereas here you would have to make 800 micro transactions.)

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LMAO!!! 

[09Lexie]

I re-read that twice.

Shaking my head!

[FinStar]

[09Lexie]

@FinStar

Lol!

[RockinRay]

To all of you that are using these accounts, good luck! I hope it works well.

Just was not for me at this time.  Maybe one day.

I am spoiled at USAA. Instant deposit credit and I have a $10k daily deposit limit - and - if I deposit $10k, that is avialable right away. Same goes with transfers in form Amex Savings - the funds are available right away for me to use.

The Discover offering is good though and working the system will pay off!  

[bribro]

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@longtimelurker wrote:

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@Boo1234 wrote:

Is it really 10 cents per debit card use?  What if you were to use it to charge microtransactions like 1 or 2 cents each, which is possible on some online sites?  You can make 8 or 9 cents profit?

---

Some people did the same with the Chase Freedom (when those with checking accounts got 10+10 per tranasction).  SOmeone posted their 300+ page bill for one month.  Chase shut them down, presumably Discover would do the same.

Trouble with this sort of stuff is it takes A LOT to make it even remotely worthwhile, and that increases the risk of detection.  (As compared to say, VR with a 5x card, where you can buy 4 cards, and make $80, and stop, feeling deliciously naughty, whereas here you would have to make 800 micro transactions.)

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I can see someone standing in front of a Walmart MoneyCenter kiosk for 5 hours making $0.01 debit loads onto BlueBird, thinking he is beating the system, only to realize later that he was making less than minimum wage and spending way too much time at Walmart.

[Stiga9]

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@lg8302ch wrote:

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@Ron1 wrote:

I just checked my account. Discover Bank just took the funds out of my checking account. The fund is not available in my Discover Checking. It might take several days to clear.

Ron.

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To my very big surprise the same for me here. Initial deposit for account opening still does not show availalable but my 2nd test to receive an international money wire through BNY Mellon in PA (processing bank for Discover Bank) posted already and shows available ...wow...and it looks that the international wires are indeed  FREE. The full amount sent got credited. That is a great deal for me because then only the small 10$ fee of the sending bank will apply and on the US side no further charges. Speed was excellent. Wire sent on Friday and posted on Monday and best of all shows available. The 100$ initial deposit through BofA is still not available. 

I am impressed 

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Are OUTGOING wire transfers, INTL or domestic, free as well?