topic Re: Discover Online Savings Accounts in Personal Finance

Discover Online Savings Accounts

TSlop — Fri, 12 Apr 2024 18:35:48 GMT

Does anyone know if I can have more than one Discover Online Savings account?

I like to have a few different accounts ("shares" at PSECU) for various purposes, such as savings, overdraft, car fund, etc. I have been using my PSECU shares for this purpose, with my main lump sum savings at Discover for the higher interest rates. Since I'm only earning 0.5% on my PSECU shares, I'd like to move that money to Discover so that I can start earning the 4+% on it. Am I able to do something like that at Discover, with multiple accounts to designate money for different purposes, or am I stuck with just using a lump sum online savings account? I didn't see an answer in their FAQ.

Re: Discover Online Savings Accounts

keekers — Fri, 12 Apr 2024 18:47:21 GMT

On their website they say there is no limit to the number of online savings accounts you can have.

Re: Discover Online Savings Accounts

TSlop — Fri, 12 Apr 2024 19:01:41 GMT

@keekers wrote:
On their website they say there is no limit to the number of online savings accounts you can have.

Thanks. Since you mentioned it is on their website, I tried to find it. It's nowhere to be found on the Online Savings page, or in the FAQ. However, on the online savings page, at the bottom there is a blog called "How to use multiple savings accounts to grow your money and reach your goals", and on the last paragraph of that page, it says there is no limit to the number of accounts. Sheesh.