Last year (I think), I did 6 Discover bonuses, all at the same time. None of them required you to keep the money in the account. In fact, I had to use some of the funds from one of the accounts to hit the max bonus on the sixth account. The accounts need to remain open in order for Discover to have a place to put the bonus payout, but once that was done, I closed five of them.
Although their website is a little rudimentary, it is fast. Also, every one of their CSR’s that I spoke with had an excellent command of the English language and did not talk corp-speak. I’ve still got a few bucks in the account, but wish their interest rate was better.
There are posts on Discover Savings Account Bonus 2020: Get $150 Or $200
re : Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded or affinity accounts provided by Discover (this bit is new)
Do they really enforce this? any data point please
Zubair#598078 I did the bonus on 2015, and I closed my account in late 2016. Will give it a shot and let you know May 23, 2018 12:22 am
Zubair#602682 Worked like a charm. Bonus posted even before my initial deposit cleared and was available to use.
Allu #655354 Didn’t work for me, when I use the promo code NPBE1018 I get this message:
“Our records show that you are ineligible for this promotion because you have opened a similar account in the past.”
Mike2-15-19 #722969 You have to wait 1.5 – 2 years since closure.
Didn’t work for me, when I use the promo code NPBE319 I get this message:
“Our records show that you are ineligible for this promotion because you have opened a similar account in the past.”
The only Discover bank account I ever had was a savings closed 1-2-2016.
Has anyone else been able top complete this bonus offer having had a savings closed 3years ago? If so, was it the same savings or a different type
Are there any current bonus offers for other Discover savings accounts such as AAA & AAII ?
Hi all, just a heads up that Susquehanna Community Bank’s 3.0% 6 month guaranteed savings account promotion ends 3/30. You can get the promotion even if you don’t fund it by that date and it just takes a day or two to open the account so it is still doable.
I was interested in putting more than the FDIC limit in that account, but even after rate chasing all these years, I was surprised to learn that PA state law does not honor Payable on Death beneficiaries! The banker told me that I could use a “In trust For (ITF)” account and they said it means the same thing, but when I google it, it does not seem to be the same thing - it is a permanent gift that I can’t take back!
Some of what I read suggests that ITF accounts have a different meaning in PA though. Does anyone know? Has anyone set up ITF accounts in PA as an alternative to a POD?
Although it does many other things as well and may be more complexity than you want to deal with a living trust would also allow you to extend FDIC(and the credit union equivalent) limits. There is software and possibly even websites that can help generate a basic one without the need for expensive lawyers. I’ve found some banks and credit unions both don’t support POD. In most cases I think they are using OLD computer systems/software that don’t have support for POD (perhaps were written BEFORE P.O.D. was a thing.
Thanks. Regardless Susquehanna Bank told me they can’t do it as a POD, only as a ITF.
However, I think I am ok. My confusion was caused by my reading a couple websites from Canada (without realizing it) where ITF accounts have a different definition and are irrevocable. It does look like in the USA they mean the same thing as POD. The Susquehanna folks are simply saying they cannot title it as “POD” only “ITF” which seems to be the same thing. (revocable Totten trusts)
Just a brief reminder that tomorrow, Sunday, is not just the last day of March. It is also the final day of the first quarter of 2019. So time to take notice of all your accounts which credit interest only quarterly.
In my own case, as an example, I have interest at Northpointe which was earned back early in January and has been stranded there ever since. Annoying. This coming Monday will be my first opportunity finally to take possession of this money and put it to use.
FYI Northpointe will let you switch to their 2.3% MM account which credits interest monthly if you think you will be using them. I find their customer service to be quite good (for wire transfers) and 2.3% is not bad so I am keeping them around.
At this writing the PurePoint 2.6% NPCD no brainer gift horse remains, as Michelle Harris might put it, “alive and well”.
So what is a suitable rate lock renewal interval for this wonderful NPCD? Every week? Every month? Longer?
I dunno, but I’m thinking about this. With some rates trending downward you want the longest rate protection you can achieve. And of course PurePoint will not sound an alarm 24 hours prior to dropping the rate. It’ll just happen with no warning at all . . . if and when it happens.
I assume you are referring to the AAA and AAII online saving bonuses that overlapped with each other and the main discover bonus at the time. That was 2017. I still kick myself that I didn’t get my wife in on that soon enough to take advantage of getting 6 rather than the 3 I got.
For those that haven’t done Discover yet, they really are the best when it comes to savings bonuses. They payout with a deposit of $XX,XXX almost immediately rather than having to leave money in AND cumulative deposits often trigger the bonus too (do your research on that one, I can’t say first hand).
