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

[minipoly1]

One question: If I use Discover Checking account to pay balance on Discover Creditcard, will the balance updated next business day instead of 2 days when paying with other bank accounts?

[longtimelurker]

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@lg8302ch wrote:

Once a month I need to receive an incoming international wire and Discover Bank told me this would be free where BofA is collecting 12$ even if international fees are taken over already. Curious to see if this will be indeed free incoming wires or if Mellon Bank is taking out the intermediate fees. That alone would be a reason to change incoming wires to Discover Bank.

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Yes, their fee document makes no distinction between international and domestic wires, whereas I think every other bank I have looked at does.

Also, their hold times for deposits seems shorter than most internet banks.

[darkpearl]

I googled this and I read on other forums (google for yourself) that the bill pay is completely unreliable... One person has 2 payments mysteriously not go through in the first month alone... That is the only thing that makes me wary. Otherwise it is AWESOME for those small purchases, writing checks (something you have to do anyways with no cash back usually), etc.

[lg8302ch]

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@longtimelurker wrote:

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@lg8302ch wrote:

Once a month I need to receive an incoming international wire and Discover Bank told me this would be free where BofA is collecting 12$ even if international fees are taken over already. Curious to see if this will be indeed free incoming wires or if Mellon Bank is taking out the intermediate fees. That alone would be a reason to change incoming wires to Discover Bank.

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Yes, their fee document makes no distinction between international and domestic wires, whereas I think every other bank I have looked at does.

Also, their hold times for deposits seems shorter than most internet banks.

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As soon as I have proper instruction I will have a test wire done and look forward to see if it really is free or if Mellon is deducting something before it hits the Discover account. For the moment Discover Bank is trying to figure out how the set up process should be - Swift - account of Discover with Mellon Bank and where to fill in the account number of the Discover account holder. I believe international online transfers do not allow to enter more than 1 account number at least not under account number.  Hold time with BofA was 3 days from sending to credit with the economy transfer service for 10$ all fees included up to the receiving bank. So if Discover Bank would post if free then I could receive for 10$ total this would be really cool. 

[longtimelurker]

So Discover doesn't have its own SWIFT code?   I've done wires from Bank of Scotland to BoA, but that didn't have your complication of a bank being a customer of another bank...

[cottoncrown]

I'm trying to open the account but it says that the Internet application is currently not working and to try back later. Any one else having problems?

[lg8302ch]

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@longtimelurker wrote:

So Discover doesn't have its own SWIFT code?   I've done wires from Bank of Scotland to BoA, but that didn't have your complication of a bank being a customer of another bank...

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From what I understood incoming wires will go to the account of Discover at Mellon Bank in PA and from there distributed to the end customer. That is why it could technically be an issue with international wires from Europe. Systems are set up for a single identifier  IBAN and for the US they leave it open for Swift and account number but not for double account numbers. We will see... I am ready to test it out. 

My test wire would be UBS Switzerland - Mellon Bank -  but receiver is Discover (not my account). From there Discover will distribute funds to my own account on Discover Bank.  UBS  to my own BofA account works like a charm but there is no  3rd party in between.

[Open123]

Seems like a nice checking account to use.  By the way, received a promo for this last week, but didn't really have time to look into it.  I thought it was just a random advertising, and didn't realize it was a targetted offer.

So, for those thinking of opening the account, you may want to (1) wait for this promo; (2) or, call to see if you're eligible.

[lg8302ch]

Had to call customer service several times as the wire info received still do not match. Very friendly staff but the result is more than questionable. I got wire info for a Mellon Bank in Pittsburgh, PA (address and bank info do not match the SWIFT code) I think Mellon Bank does no longer exist after they merged with Bank of New York. The SWIFT code I received belongs to The Bank of New York  Mellon and the address is also in Pittsburgh, PA but not as indicated by Discover Bank. The ABA received is with an address in New York and also belongs to The Bank of New York Mellon. A Wall street address on this one   probably former Bank of New York?  Again asked if the bank info received are accurate and Discover Bank again confirmed YES and our bank is Mellon Bank and not BNY Mellon or The Bank of New York  Mellon... well this will be a mystery wire I guess and if delayed then this would explain everything. I will have to try to call BNY Mellon myself to at least double check if Discover's account number is correct if all other info is soooo old and probably outdated ?    BNY Mellon is the website of a bank with that SWIFT code and the address on the website matches the SWIFT directories. Anybody has done a domestic wire to a Mellon Bank in Pittsburg for Discover Bank? (#3 Mellon Bank Center, PA 15258) 

[RockinRay]

Ron - 

Thanks for providing this link! I just opened an accouint with them and will use them for bill pay.

While 10 cents per transaction is not alot, it will add up over time!