Discover Checking, $300 Bonus With Two $250 DDs

Discover is definitely of of my favorite banks right now. They keep bringing amazing bonuses and promotions for their credit cards, savings accounts and now their checking. You can now get a $300 bonus for opening a CashBack checking account, if you apply before November 15th.

Discover Bank Checking 300

The only requirement is to make two direct deposits of of $250 or more within 90 days of funding and within 30 days of completing requirements you should have your bonus. This is much better than their previous $50 bonus offer.

There’s a $25 minimum opening deposit. You can easily transfer it from the savings account if you went for the $100 savings bonus.

Keep in mind that the offer is open to Discover credit/deposit customers, excluding current/previous Cashback Checking customers. So if you don’t have a Discover card (which you should by now), you can open a Savings account first for the $100 bonus and then the CashBack checking.

To get $300:

  • Open account between 9/15/15-11/15/15 with code Bonus4915
  • Receive 2 Direct Deposits (payroll, Social Security, pension) of $250 or more within 90 days of funding
  • Bonus issued as credit to the open account within 30 days of completing requirements

Limit 1 per customer/account. Bonus will be reported as interest on IRS Form 1099-INT. Offer may be modified/withdrawn.

20 Cents Per Debit Transaction

The Discover CashBack checking account also has a nice little added bonus. You will earn an extra $0.10 (for a total of $0.20) on each eligible debit card purchase during the months of October and November 2015. That’s up to $20 cash back you could earn each month.

Offer Details
  • Apply Here
  • Account Type: Cashback Checking
  • Promo Code: Bonus4915
  • Availability: Nationwide for current Discover credit card members or deposit account customers
  • Expiration Date: 11/15/2015
  • Inquiry Type: Soft pull
  • Opening Deposit Credit Card Funding: No
  • Direct Deposit Requirement: Yes, two $250 or more within 90 days
  • Monthly Fee: None
  • Closing Account Fee: None

26 thoughts on “Discover Checking, $300 Bonus With Two $250 DDs

  1. Discover has changed the rules on this one and added into the terms of the promo code that it’s a targeted offer and the bonus will only go for those who were invited.

    Saw on another site that someone contacted Discover and was told on November 4th that the terms were updated to make it a targeted offer. They also confirmed that those who applied before then will receive the bonus after meeting the direct deposit requirements.

    Looks like this one is no longer an active bonus unless you receive one of the offers directly.

  2. Hello everyone I work at a bank and I am told to tell customers that the deposit must come directly from payroll or benefits but I have seen customers still qualify from ACH deposits for instance Paypal transfer. Hope that helps.

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  4. Thanks Danny! Great offer.

    Opened one for myself. My HR guy is very understanding 🙂 Opened one for my wife as well and plan to do DDs from 360 as you suggested. Fingers crossed.

    I opened a checking account with the $50 offer for my father recently 🙁 regretting that decision

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  7. $100 for savings. $300 checking. $150 when I got my Discover It. plus lots more with my card since then. Discover is definitely my favorite bank everrr

    • I asked their customer support that same question and this is how they responded:

      “ACH Transfer of $250 from another bank or financial institution would not qualify for the promotion requirements. Eligible direct deposits include paycheck, pension or government benefits (such as Social Security).”

      Now I have had customer support reps at other banks say the same thing only to find out by trial and error that they do accept ACH transfers. Guess it might be worth trying to see if they actually accept them or not, if there is time to do so and you don’t have a direct deposit to rely on.

      • Asking csrs wouldn’t help in these cases. Per rules, ACHs shouldn’t qualify as a direct deposit so I guess their answer is expected. However they do in most cases.

        Discover never really offered bank sign up bonuses before so it will be a bit of trial and error until we start getting more data points.

        Thanks for the info Ron

        • I agree that most CSR’s probably quote from a script but I’ve found that just as many tell me that they do accept ACH transfers from other banks or financial institutions as tell me they don’t.

          Guess that everything changed when the new rules for P2P transfers went into effect and whether the banks/ credit unions have updated their systems to reflect the changes. I’ve found that credit unions are more likely to accept an ACH transfer as a direct deposit than banks but of course their are exceptions for both.

          Anyways, appreciate the information you provide.

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