The fastest way to fund your account
You can move money into a Discover savings account through a bank transfer, a wire transfer, or a check deposit. The method you choose depends on how quickly you need the money there and where your money currently sits. Bank transfers from another account take one to three business days. Wire transfers arrive the same day or next business day but cost $0 to $15. Check deposits by mail take seven to ten business days.
Discover does not have physical branches, so you cannot walk in and hand over cash or a check. All deposits happen online, by mail, or through a linked account at another bank.
Key Takeaways
- Bank transfers from another account are free and take one to three business days, making them the cheapest option for most people.
- Wire transfers cost money but arrive the same day or next business day if you initiate them before the cutoff time, usually 2 p.m. Eastern.
- You can mail a check to Discover's processing center, but it takes seven to ten business days to clear and post to your account.
- Discover does not accept cash deposits or in-person check deposits because it has no physical branches.
Linking another bank account for transfers
The easiest and most common way to fund a Discover savings account is to link an account at another bank and transfer money electronically. Log into your Discover account online or through the mobile app, go to the Transfers section, and select "Add external account." You will need the routing number and account number from the other bank.
Discover will verify the account by depositing two small amounts (usually under $1 each) into that account within one to two business days. You then log into the other bank's website, find those deposits, and enter the amounts back into Discover to confirm ownership. Once verified, you can transfer money from that account to Discover at any time. Transfers initiated before 2 p.m. Eastern on a business day usually post within one business day; transfers after that or on weekends post the next business day.
There is no fee for these transfers, and you can link multiple accounts if you receive money from different sources.
Wire transfers for same-day or next-day funding
If you need money in your Discover account urgently, a wire transfer is faster than a bank transfer. Wire transfers typically arrive the same business day if you initiate them before 2 p.m. Eastern, or the next business day if you initiate them after that time. Discover charges $0 for incoming wire transfers, but your sending bank may charge $15 to $30 to send one.
To receive a wire transfer, you need Discover's wire instructions. Log into your account, find the wire transfer section, and request the routing number, account number, and Discover's bank name and address. Provide this information to the bank or person sending you money. Double-check the account number before confirming, because wire transfers cannot be reversed once they leave the sending bank.
Wire transfers work well if you are moving a large sum from another bank or receiving money from an employer or family member who can send it electronically.
Mailing a check to Discover
You can deposit a check by mailing it to Discover's processing center. Write your Discover account number on the back of the check, place it in an envelope with a deposit slip (which you can print from your Discover account or request by phone), and mail it to the address Discover provides. Processing takes seven to ten business days from the date Discover receives it, not from the date you mail it.
This method is slow and should only be used if you have no other option. There is no fee, but the delay means your money sits in the mail and in processing for up to two weeks. Keep a record of the check number and amount in case you need to track it down.
What you cannot do: cash and in-person deposits
Discover is an online bank with no physical locations, so you cannot deposit cash or walk in with a check. You also cannot use ATMs to deposit checks or cash into a Discover account, even if you use an ATM that displays the Discover logo.
If you have cash, you must first deposit it into another bank account you own, then transfer it to Discover using the linked account method. If you receive a check from an employer or another source, you can mail it to Discover or deposit it at your other bank first and then transfer the funds.
Timing and when money shows up
The time your deposit shows up depends on the method and when you initiate it. Bank transfers initiated on a business day before 2 p.m. Eastern usually post within one business day; those initiated after 2 p.m. or on weekends post the next business day. Wire transfers initiated before 2 p.m. Eastern on a business day arrive the same day; those after 2 p.m. arrive the next business day. Checks mailed to Discover take seven to ten business days from receipt.
Weekends and federal holidays do not count as business days, so a transfer initiated on Friday afternoon will not post until Monday or Tuesday. If you need money by a specific date, plan for the longest possible timeline and initiate the transfer several days early.
Troubleshooting a transfer that did not arrive
If money you transferred has not arrived within the expected timeframe, first check your Discover account to see if the transfer shows as pending. If it does, wait until the posted date. If the transfer shows as completed but the money is not in your account, or if it shows as failed, contact Discover's customer service by phone or through the app.
For bank transfers, Discover may need to verify the linked account again or troubleshoot with the sending bank. For wire transfers, Discover can trace the wire using the confirmation number from your sending bank. For checks, Discover can tell you whether the check arrived and when it was processed. Have your account number, the amount, and the date you initiated the transfer ready when you call.
Frequently Asked Questions
Can I deposit cash directly into my Discover savings account?
No. Discover has no physical branches or ATMs that accept cash deposits. You must deposit cash at another bank first, then transfer it to Discover using the linked account method.
How long does it take for a bank transfer to show up?
One to three business days, depending on when you initiate it. Transfers sent before 2 p.m. Eastern on a business day usually post within one business day. Those sent after 2 p.m. or on weekends post the next business day or later.
Does Discover charge a fee to receive money?
No. Discover does not charge fees for incoming bank transfers, wire transfers, or check deposits. Your sending bank may charge a fee to send a wire transfer, but Discover's side is free.
What if I mail a check and it gets lost?
Contact Discover with the check number and amount. Discover can tell you whether the check arrived and was processed. If it was lost in the mail, you may need to contact the check issuer to request a replacement or stop payment on the original.
Can I set up automatic deposits to my Discover savings account?
Yes. Once you link another bank account, you can schedule recurring transfers on a weekly, bi-weekly, or monthly basis. Set this up in the Transfers section of your Discover account.