FAQs

Checking
What is the minimum amount required to open a personal checking account?
I do not want to receive and sort my returned canceled checks. Is there a better way?
What is the daily cutoff time?
How can I transfer money between accounts?

55 Plus
Do you have an account designed specifically for seniors?

Savings
How is the interest calculated for a personal savings account?
What is the minimum amount required to open a personal savings account?
What is the difference between a Money Market account and a Savings account?
When should I expect to receive my Discover CD or Money Market statements?
What happens when my CD matures?
When is interest credited to my Discover CD or Money Market Account?
What are my payment options for accrued interest from my CD Account?
Can I withdraw principal of my CD or Money Market Account and still receive the APY?

IRA (Individual Retirement Account)
What types of IRA's do you offer?
When may I start an IRA?
At what age must I take a distribution from my IRA?

Electronic Banking Services
What should I do if I lose my ATM card or Check card?
I forgot my ATM / Check card PIN or PASSWORD. What should I do?
What's the difference between the current and available balance?

Secure Account Access
What information do I need to register for telephone account access?
How can I register my Discover Bank accounts online?
I can not remember my Password. What should I do?
I can not remember my User Id. What should I do?
How can I change my User Id and/or Password?
Will I need to choose a User Id and Password?

Other
Where can I find financial information for consumers?
What is the value of my Series EE Savings Bond?
What is your fee schedule?

Debit
What type of accounts can I access with my Discover Debit Card?
Can I have a Discover Debit Card with my business account?
Will all money Market Accounts be eligible for a Discover Debit Card?
What are the transaction limitations of the Discover Debit Card?
Are there limits on the amount of funds I can withdraw on a daily basis?
Is there a credit line on the Discover Debit Card?
Will I be able link multiple accounts to the Discover Debit Card?
Can I transfer funds between accounts via the Discover Debit Card?
Will I have the ability to shop on line with my Discover Debit Card?
Where can I use my Discover Debit Card?
Will I receive a PIN for my Discover Debit Card?
Which ATM locations can I access my funds?
Can the Discover Debit Card be linked to my Discover Card?

Q: What is the minimum amount required to open a personal checking account?
A: The minimum amount required to open a personal checking account is $50.00.

Q: I do not want to receive and sort my returned canceled checks. Is there a better way?
A: Discover Bank's new check image service provides a copy, in your monthly statements, of the front of each check that you write.

Q: What is the daily cutoff time?
A: Transactions made before 3:00 PM on a business day will be processed the same day. Transactions made at our ATM before 3:00 PM on a business day will be processed the same day. Transactions made after these times will be processed the following business day.

Q: How can I transfer money between accounts?
A: Money can be transferred between accounts held under same ownership through our telephone banking toll free number by calling 1-888-765-6654 24 hours a day, 7 days a week.

Q: Do you have an account designed specifically for seniors?
A: Yes, our 55 + Checking account. There is no minimum balance requirement, no monthly service charge, FREE standard checks, no fee for American Express Travelers Cheques, no fees for money orders or cashiers checks (3 per month), and ¼% increase on (one) new CD when you open a 55 + Checking Account.

Q: How is the interest calculated for a personal savings account?
A: The interest is compounded daily and credited monthly.

Q: What is the minimum amount required to open a personal savings account?
A: The minimum amount required to open a personal savings account is $50.

Q: What is the difference between a Money Market account and a Savings account?
A: A Money Market account allows you to earn a higher interest rate than savings and allows you to write up to three (3) checks per month. Our savings accounts have a lower interest rate and a lower balance requirement; yet do not provide the ability to write checks against your balances.

Q: What happens when my CD matures?
A: Your CD will automatically renew for the same term at the current rate unless you instruct us otherwise.

Q: When is interest credited to my Discover CD or Money Market Account?
A: Interest is compounded daily and credited monthly.

Q: What are my payment options for accrued interest from my CD Account?
A: You can either let your interest grow the balance of your CD or you can have the interest transferred to your Discover Money Market Account or another bank account.

Q: Can I withdraw principal of my CD or Money Market Account and still receive the APY?
A: No. Any amount that lowers the principal balance does not get compounded, and thus impacts APY. In addition, withdrawing from the principal of a CD is subject to early withdrawal fees.

Q: What types of IRA's do you offer?
A: We offer the Traditional IRA and Roth IRA Accounts.

Q: When may I start an IRA ?
A: You must have earned income to contribute. For a Traditional IRA you may contribute up to the year you turn 70 ½ as long as you have earned income.

Q: At what age must I take a distribution from my IRA?
A: For the Roth IRA you may take a distribution at any age. For the Traditional IRA you must begin withdrawals at age 70 ½.
For more detailed information regarding Individual Retirement Accounts contact our New Accounts Representative 1-888-765-6654.

Q: What should I do if I lose my ATM card or Check card?
A: First, contact our bank immediately at 1-888-765-6654 to report your lost card. For your security, a new card will need to be issued.

Q: I forgot my ATM / Check card PIN or PASSWORD. What should I do?
A: In order to protect your accounts, we do not maintain PINs or PASSWORDs, they are destroyed once the account is established. For your security, a new card will need to be issued. You can order a replacement card by calling 1-888-765-6654.

Q: What's the difference between the current and available balance?
A: The Current and Available balance may differ due to funds that are on hold, or electronic transactions that have not completed the processing cycle. Some examples of electronic activities would include: a direct deposit, an automatic debit, purchases or withdrawals that were made with an ATM Card.

Q: What information do I need to register for telephone account access?
A: You will need to provide your Social Security Number and a Personal identification Number (PIN) to access your account on the 1-888-765-6654 toll- free line. You will have account access immediately following successful registration.

Q. How can I register my Discover Bank accounts online?
A: Log in to www.mydiscoverbank.com click on 'Register here'. Follow the instructions to register for the Banking Center, once registered you will have access to all of your Discover Bank accounts. You will be prompted to choose a User Id and will be required to enter one of your account numbers, so be sure to have one on hand. Not Registered for the Banking Center? Register now.

Q. I can not remember my Password. What should I do?
A: To ensure that your Account is secure, you are the only one who knows your Password. If you have forgotten it, you will need to create a new one. Go to the Banking Center Log In page and click on "Forgot your Password?" You will be required to enter some personal information as a security precaution and then be prompted to create a new password.

Q: I can not remember my User Id. What should I do?
A: If you can not remember your User Id Contact Technical Support at 1-877-409-0274

Q: How can I change my User Id and/or Password?
A: Log into the Banking Center and go to the Services tab where you can update your User Id and password as well as your e-mail address.

Q: Will I need to choose a User Id and Password?
A: Yes. Your User Id and password should be something that others can not guess but is easy for you to remember without writing it down. It's a good idea to use something personal that only you would know.
You should also consider:

• Using a combination of letters and numbers, but avoid having numbers at the beginning or the end
• Avoiding dictionary words, family or pet names, your birthday, your anniversary or your social security number
• Using a word you can remember, but replace some of the letters with numbers (e.g., s3cr3t)

Your User Id must be 8-20 characters and can contain any character found on your computer's keyboard except spaces. Your password must be 6-32 characters and can be any combination of letters and numbers (no "special" characters or spaces). As an added security measure, your User Id and password cannot be the same.

Q: Where can I find financial information for consumers?
A: You can find information at the FDIC's Web site at http://www.fdic.gov/. Look up financial product information under the consumer tab.

Q: What is the value of my Series EE Savings Bond?
A: To find the value of your EE bonds and much more, you can use the US Treasury Department's online Savings Bond Calculator.

Q: What is your fee schedule?
A:

ATM Monthly Card Fee	FREE
ATM Replacement Card	$ 5.00
Cashier's Check	$ 8.00
Certified Check	$ 10.00
Direct Deposit for Account Holders	FREE
Dormant/inactive Account	$ 2.00 per month
Faxes:       (Customer)       (Non-Customer)	FREE $ 1.00 per page
Garnishment/Levy	$50.00
Money Order	$5.00
Night Deposit Key Replacement	Actual Cost
Notary Fee       (Customer)       (Non-Customer)	FREE $5.00 per item
Non-Sufficient Funds (NSF)	$30.00 per item
Outgoing Collection Item	$10.00
Overdraft Protection Transfer	$ 5.00
Reconciliations/Account Research	$20.00 an hour
Returned Deposit Check Fee	$ 5.00
Safe Deposit Box Fee (See New Accounts Representative for details)        Key Replacement       Box Drilled       Inventory of box	$ Per Size (Annual)   Actual Cost Actual Cost $25.00 an hour
Stop Payment	$ 25.00
Traveler's Checks (per 100)	$ 1.00
Uncollected Funds	$ 30.00
Wire Transfers Outgoing       (Domestic)       (International)	$20.00 $40.00
Wire Transfer-Incoming (Non Customer)	$ 20.00

Q: What type of accounts can I access with my Discover Debit Card?
A: You will be able to access your Checking, Savings, Money Market account.

Q: Can I have a Discover Debit Card with my business account?
A: No. We are not offering Debit Cards for our business accounts.

Q: Will all money Market Accounts be eligible for a Discover Debit Card?
A: Yes, all Money Market Accounts will be eligible for a Discover Debit Card.

Q: What are the transaction limitations of the Discover Debit Card?
A: For checking and savings accounts, there are no transaction limitations when using your Discover Debit Card for ATM or point of sale transactions. Money Market transactions are limited to three point of sale transactions per statement cycle.

Q: Are there limits on the amount of funds I can withdraw on a daily basis?
A: Yes. You may withdraw the lesser of $500.00 per day or the account balance.

Q: Is there a credit line on the Discover Debit Card?
A: No. Any transaction that exceeds the available balance in your account may be declined.

Q: Will I be able link multiple accounts to the Discover Debit Card?
A: Yes. Multiple accounts may be linked to your Discover Debit Card (up to four accounts).

Q: Can I transfer funds between accounts via the Discover Debit Card?
A: Yes, you may transfer funds between accounts that are linked to your Discover Debit Card at ATMs that offer that option.

Q: Will I have the ability to shop on line with my Discover Debit Card?
Yes. You can use your Discover Debit Card where ever Discover Card is accepted.

Q: Where can I use my Discover Debit Card?
A: You can use your Discover Debit Card wherever Discover Card is accepted and at ATM's with the PULSE and STAR logos.

Q: Will I receive a PIN for my Discover Debit Card?
A: Yes. You will receive a system generated PIN after your new Discover Debit Card is ordered. Once you have received your system generated PIN, if you desire, you may change the PIN following the instructions that will be provided to you.

Q: Which ATM locations can I access my funds?
A: You can access your funds via an ATM with the PULSE or STAR logos.

Q: Can the Discover Debit Card be linked to my Discover Card?
A: No. These are two different products and cannot be linked.