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

[Ron1]

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@RockinRay wrote:

I think it will be interesting to see how well this account works.

I did a small deposit with them via the iPhone App to see how that worked. They credit the account the following business day if deposit was done during business hours on the day you made the deposit. If you deposit after business hours, the deposit will post on the second business day. They also told me that I should keep the deposited check for 60 days. Not impressed...

I use USAA for my main bank and when I depsit a check with my iPhone, the account is credited immediatley. No waiting game needs to be played. But, I do like the cash back on the Discover account so I do plan to run some money through it to pay the things that I cannot pay with a credit card, like the mortgage, car payments, and utility bills. I see value there.

One question that I did ask Discover Bank was what did they offer for Over Draft protection. They came back saying nothing at this time but they do plan to tie this to your Discover card in the future.

We also opened a savings account with them. Still waiting for that to fund.

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Ray,

I had Discover Savings for a couple of years. It took almost a week to transfer funds out of the account to my BofA checking. They don't have any overdraft protection credit line like other banks. I haven't tried their billpay. So I don't know how fast or how slow.  

Ron.

[RockinRay]

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@Ron1 wrote:

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@RockinRay wrote:

I think it will be interesting to see how well this account works.

I did a small deposit with them via the iPhone App to see how that worked. They credit the account the following business day if deposit was done during business hours on the day you made the deposit. If you deposit after business hours, the deposit will post on the second business day. They also told me that I should keep the deposited check for 60 days. Not impressed...

I use USAA for my main bank and when I depsit a check with my iPhone, the account is credited immediatley. No waiting game needs to be played. But, I do like the cash back on the Discover account so I do plan to run some money through it to pay the things that I cannot pay with a credit card, like the mortgage, car payments, and utility bills. I see value there.

One question that I did ask Discover Bank was what did they offer for Over Draft protection. They came back saying nothing at this time but they do plan to tie this to your Discover card in the future.

We also opened a savings account with them. Still waiting for that to fund.

---

Ray,

I had Discover Savings for a couple of years. It took almost a week to transfer funds out of the account to my BofA checking. They don't have any overdraft protection credit line like other banks. I haven't tried their billpay. So I don't know how fast or how slow.  

Ron.

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Still I am going to give them a try on this. I just set my Discover Card to be paid from the checking. They may be long term with me, or maybe not. I think as time moves forward, their product will get better...

[Open123]

Tried the remote deposit with the iPhone app.  Similar experience and process to Chase, Citi and Bof A with funds available the following day.  Will test their bill pay by sending small amounts to all my vendors.

[Ron1]

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@RockinRay wrote:

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@Ron1 wrote:

---

@RockinRay wrote:

I think it will be interesting to see how well this account works.

I did a small deposit with them via the iPhone App to see how that worked. They credit the account the following business day if deposit was done during business hours on the day you made the deposit. If you deposit after business hours, the deposit will post on the second business day. They also told me that I should keep the deposited check for 60 days. Not impressed...

I use USAA for my main bank and when I depsit a check with my iPhone, the account is credited immediatley. No waiting game needs to be played. But, I do like the cash back on the Discover account so I do plan to run some money through it to pay the things that I cannot pay with a credit card, like the mortgage, car payments, and utility bills. I see value there.

One question that I did ask Discover Bank was what did they offer for Over Draft protection. They came back saying nothing at this time but they do plan to tie this to your Discover card in the future.

We also opened a savings account with them. Still waiting for that to fund.

---

Ray,

I had Discover Savings for a couple of years. It took almost a week to transfer funds out of the account to my BofA checking. They don't have any overdraft protection credit line like other banks. I haven't tried their billpay. So I don't know how fast or how slow.  

Ron.

---

Still I am going to give them a try on this. I just set my Discover Card to be paid from the checking. They may be long term with me, or maybe not. I think as time moves forward, their product will get better...

---

Ray,

Don't move all your money to over there yet.  Try it to see if how it goes. It took almost a week to ACH into my BofA checking. Alliant tool only a day to my account and wait another day to clear.  I haven't tried USAA yet. I have been using BoFA billpay for years. They are fast and reliable.  They charge ACH to take funds out of the account.

Ron.

[Ron1]

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.

[RockinRay]

I do like the way they set your log in page up. Everything there and easy to read.

So, I will go ahead and pay some bills, set USAA up to move money back and forth and see how all of that goes. While it is small change, 10 cents per payment transaction can add up over time if done the smart way.

I would use the Discover card more, but I think you have to spend what, $2500 to get to the 1 percent tier? Am I right on that? Seems stupid to me.

On another note, my currentl CL with Discover is $10,500 and I am going to call them and tell them I want to charge my daughters college tuition to the card (will PIF) and see if they will authorize a $20k transaction. This will be interesting for sure!

[nick125]

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@RockinRay wrote:

I do like the way they set your log in page up. Everything there and easy to read.

So, I will go ahead and pay some bills, set USAA up to move money back and forth and see how all of that goes. While it is small change, 10 cents per payment transaction can add up over time if done the smart way.

I would use the Discover card more, but I think you have to spend what, $2500 to get to the 1 percent tier? Am I right on that? Seems stupid to me.

On another note, my currentl CL with Discover is $10,500 and I am going to call them and tell them I want to charge my daughters college tuition to the card (will PIF) and see if they will authorize a $20k transaction. This will be interesting for sure!

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The old Discover More card had the $3000 tier I believe, while the Discover IT has 1% without the tier. 

[Home2014]

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@Brax wrote:

Time to drop Wells Fargo like a bad habit!

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+1

[RockinRay]

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nick125 wrote:

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RockinRay wrote:

I do like the way they set your log in page up. Everything there and easy to read.

So, I will go ahead and pay some bills, set USAA up to move money back and forth and see how all of that goes. While it is small change, 10 cents per payment transaction can add up over time if done the smart way.

I would use the Discover card more, but I think you have to spend what, $2500 to get to the 1 percent tier? Am I right on that? Seems stupid to me.

On another note, my currentl CL with Discover is $10,500 and I am going to call them and tell them I want to charge my daughters college tuition to the card (will PIF) and see if they will authorize a $20k transaction. This will be interesting for sure!

---

The old Discover More card had the $3000 tier I believe, while the Discover IT has 1% without the tier. 

Thank you good to know!

[nyancat]

10 cents/transaction is nice (better than Citi Forward for my $2 Taco Bell lunches), but Schwab seems better in every other way - and doesn't have the questionable record on social issues Discover has (don't ask, not bringing politics on here, but just saying a reason I wouldn't pick Discover over Schwab).