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Limited Time Offer to Move Your Savings & Earn $200

By: Conor Keenan Last updated April 18, 2025
Conor Keenan, co-founder of CompareAccounts, is a notable personal finance expert with work seen in Wall Street Journal, CNN, Fox News, MSN & Yahoo Finance.

Editorial Independence: Our opinions, reviews, and recommendations are our own and not influenced by financial institutions or partners. Partner commissions keep our site free, but our content remains independent and is not commissioned by any partner or financial institution.

Bonus Offer

3.70% APY

5.0

CompareAccounts™ Score

Open Account

On Discover Bank's Secure Site,
Member FDIC

Discover^® Bank High Yield Savings Account

Best For: Welcome Bonus With Qualifying Deposits

Discover Bank offers 3.70% APY with no monthly fees and $0 initial deposit.

Discover Bank is one of the first online focused banks to offer no monthly fees and what they call "No. Fees. Period."

Whereas other banks may charge you a fee for certain services, Discover won't charge you a fee on any of the following items: monthly maintenance, official bank check, expedited delivery for official bank checks, deposited item returned, stop payment order, insufficient funds, or for closing your account.

For a limited time, Discover Bank is also offering a bonus for qualifying deposits on your first Discover Online Savings Account.

You can earn a $150 bonus when you deposit at least $15,000 or a $200 bonus when you deposit at least $25,000 within 45 days of account open date. Terms apply.^ⓘ

Bonus Promo Code: CA325

You must open your account by 9/11/2025 to be eligible for the bonus.

This account is insured by the FDIC for up to $250,000 per depositor and Discover also boasts 100% U.S.-based Customer Service Available 24/7.

If you're looking for a competitive APY with "No. Fees. Period." and a nice welcome bonus, then this account is for you.

See Discover Bank's Secure Site For More Details.

Disclosure for promo code CA325:

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CA325 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank.

Open Your New Account with Discover Now

Discover^® Bank Online Savings Account: 3.70% APY - Earn up to $200 with Promo Code: CA325

Customers Also Viewed These High-Yield Savings Accounts with Bonuses

Up to $300 Bonus

Annual Percentage Yield (APY)

3.80% APY
with qualifying activities

4.5

CompareAccounts™ Score

Open Account

On SoFi's Secure Site,
Member FDIC

SoFi^® Checking and Savings Details

Best For: Bonus + Large Deposits

SoFi redefines banking with a commitment to no fees—no monthly fees, no overdraft fees, and no account minimums.

Bonus: up to $300 with direct deposit.^ⓘ

In addition to the bonus, you'll enjoy 3.80% annual percentage yield (APY) on savings balances with qualifying activities and 0.50% APY on checking balances, fee-free overdraft coverage up to $50 and access your direct deposit funds up to two days early, giving you greater financial flexibility. Terms apply.

The current savings APY without direct deposit is 1.00%. Although this is still higher than the national average, if you don't plan on setting up direct deposit, you should look at the other offers on this list unless you want more FDIC insurance.

Your deposits are FDIC-insured up to $250,000 per depositor and you can also access up to $3,000,000 of additional FDIC insurance through a network of participating banks. Ensuring your money stays safe and secure.

See SoFi's Secure Site For More Details.

1. Up to $300 Bonus Tiered Disclosure

New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the
Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion
begins on 12/7/2023 and will be available through 1/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking#1

2. APY disclosures

SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80%
annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without
either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other
SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at
http://www.sofi.com/legal/banking-rate-sheet.
See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.

3. Fee Policy

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.

4. Additional FDIC Insurance

SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/receivingbanks

5. ATM Access

We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

7. Overdraft Coverage

Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.

High APY

4.25% APY

5.0

CompareAccounts™ Score

Open Account

On Raisin's Secure Site for
Western Alliance Bank, Member FDIC

Western Alliance Bank^® High Yield Savings Account

Best For: High APY Interest Rates

Western Alliance Bank offers 4.25% APY exclusively through the Raisin Platform.

This APY is substantially higher than what you’ll find at most brick-and-mortar banks and even most online banks.

In addition to this high APY, Western Alliance offers $0 monthly maintenance fees, unlimited withdrawals, and is insured by the FDIC for up to $250,000 per depositor.

Customer service is located in New York, NY and is available via email and phone. You'll have online access to your funds 24/7.

Western Alliance Bank is consistenly ranked among the top banks. The bank has over $80 Billion in Assets and were ranked #1 top-performing large bank with assets greater than $50 billion in 2021, 2022, 2023 & 2024 by American Banker. Serving clients across the country wherever business happens.

Limited Time Offer: New customers can earn a $75 bonus for $10K, $250 bonus for $25K, or $500 bonus for $50K deposited or more. Use promo code BOOST at sign-up.

See Raisin's Secure Site for Western Alliance Bank For More Details.

To recap our recommendations.

Best Savings Accounts According To CompareAccounts™

Discover^® Bank Online Savings Account: 3.70% APY - Earn up to $200 with Promo Code: CA325

SoFi^® Checking and Savings: 3.80% APY & Earn up to $300 with qualifying activities

Western Alliance Bank^® High Yield Savings Account: 4.25% APY - Earn $250 with Promo Code: GET250

Open Your New Account with Discover Now

Discover^® Bank Online Savings Account: 3.70% APY - Earn up to $200 with Promo Code: CA325

Limited Time Offer to Move Your Savings & Earn $200

5.0

Discover^® Bank High Yield Savings Account

Best For: Welcome Bonus With Qualifying Deposits

Open Your New Account with Discover Now

Customers Also Viewed These High-Yield Savings Accounts with Bonuses

4.5

SoFi^® Checking and Savings Details

Best For: Bonus + Large Deposits

5.0

Western Alliance Bank^® High Yield Savings Account

Best For: High APY Interest Rates

Best Savings Accounts According To CompareAccounts™

Open Your New Account with Discover Now

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Limited Time Offer to Move Your Savings & Earn $200

5.0

Discover® Bank High Yield Savings Account

Best For: Welcome Bonus With Qualifying Deposits

Open Your New Account with Discover Now

Customers Also Viewed These High-Yield Savings Accounts with Bonuses

4.5

SoFi® Checking and Savings Details

Best For: Bonus + Large Deposits

5.0

Western Alliance Bank® High Yield Savings Account

Best For: High APY Interest Rates

Best Savings Accounts According To CompareAccounts™

Open Your New Account with Discover Now

Western Alliance Bank APY Disclosure

Discover® Cashback Debit: Cash Back Disclosure

Upgrade Rewards Checking Plus Disclosure

State Disclosure:

General Disclosure:

Discover^® Bank High Yield Savings Account

SoFi^® Checking and Savings Details

Western Alliance Bank^® High Yield Savings Account

Discover^® Cashback Debit: Cash Back Disclosure