Just yesterday Discover Bank launched two new noteworthy products. The first was their no penalty 12 month CD and the second was their online savings account.

Discover Bank’s online savings account is currently yielding a very respectable 2.00% APY. Some of the features of this account include: low opening deposit plus no minimum balance, fast and free online money transfers and the ability to set up automatic transfers from any checking or savings account.

Fee schedule for Discover Bank’s Online Savings Account:

Inbound Money Transfer: Free

Outbound Money Transfer: Free

Incoming Domestic Wire: Free

Foreign Check Conversion: At Cost

Excessive Withdrawal (per item): $15.00

Outgoing Domestic Wire:$20.00

Outgoing International Wire: $40.00

The rate associated with this account is a variable one and is subject to change without notice. Comapre online savings account rates.

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