Discover Fees: What the Bank Charges and How To Avoid Fees
Written by
Sean Dennison
Edited by
Melanie Grafil
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Banking is a business, and business is booming for these financial institutions. On average, Americans pay around $7 in banking fees each month, and that adds up. How much you pay in maintenance fees depends on who you bank with and specific account policies.
Understanding Discover Fees
With many traditional banks, you might expect maintenance fees, like monthly service and overdraft penalties. Some online options, like Discover® Bank, Member FDIC, don’t have monthly maintenance fees, which may better suit your financial goals — but then what fees do they charge?
Discover Bank Monthly Fees
Monthly account fees are rates your bank charges to maintain the account. The fees are usually pretty cheap, and some banks even waive the fees if certain requirements are met such as direct deposits or meeting the minimum balance required.
Discover Bank is known for offering fee-free banking, meaning you won’t have to worry about monthly maintenance fees eating into your balance.
Here’s a quick look at the Discover fees you can expect monthly:
| Account | Monthly Service Fee |
|---|---|
| Cashback Debit | $0 |
| Online Savings Account | $0 |
Discover Bank Checking Account Fees
Discover Bank offers only one checking account, the Discover® Cashback Debit account. Here are the fee details:
| Account | Monthly Service Fee | Earns Interest |
|---|---|---|
| Cashback Debit | $0 | No |
Discover Bank Savings Account Fees
Savings account fees work similarly to checking account fees and some banks will waive these fees if you meet certain conditions.
Discover Bank also only has one savings account, its Discover® Online Savings account.
| Account | Monthly Service Fee | APY |
|---|---|---|
| Online Savings Account | $0 |
There’s no need to pay a monthly service fee for online bank accounts, which is one of their biggest draws. Plus, since there are no overhead fees associated with maintaining bank branches and employees, the Discover savings account yield is much higher than the national average annual percentage yield.
Discover Bank’s Overdraft Fees
Discover Bank’s checking account doesn’t have overdraft fees. And while no penalty is a good penalty, you still have to worry about having the proper amount of funds in your account for purchases. That’s where overdraft protection comes in.
Overdraft protection acts as a failsafe in the event your account has insufficient funds by withdrawing the funds from a designated account that has the money. In other words, the “protected” account is funded by a funding account.
Many people sign up for overdraft protection to avoid the hefty fee that comes with it, which is usually above $30.
If you choose to set up a savings account as the funding account, however, you are still beholden to the limited six transfers per billing cycle before incurring an excessive withdrawal penalty. Luckily, Discover doesn’t charge an excessive withdrawal penalty either.
Other Common Discover Fees
Discover Bank prides itself on transparent, low-fee banking. Here’s a breakdown of some other potential charges:
| Fee | Cost |
|---|---|
| Out-of-network ATM | $0, but may be charged by the ATM network |
| Overdraft | $0 |
| Foreign exchange rate | $0 |
| Wire transfers | $30 for outgoing wire transfers |
| Debit card replacement | No fee for expedited delivery |
Discover emphasizes on its website that there are no hidden fees associated with the Discover® Cashback Debit checking account. And on its account agreement, Discover states that it does not charge fees for:
- Insufficient funds or overdrafts
- Excessive withdrawals on money market and savings accounts
- Going below a minimum balance
- Stop payment orders
- Replacement debit cards
- Check orders
There are two technicalities you need to be aware of, though:
- There’s a service charge of $30 for outgoing wire transfers made from your Discover account.
- Although Discover won’t penalize you for using an ATM outside its 60,000-machine network, you might be charged a fee by the ATM itself.
Tips for Minimizing Discover Fees
Since your Discover account doesn’t carry any monthly maintenance fees, you have nothing to worry about. However, here are some general tips to ensure you keep your banking costs as low as possible:
- Maintain a minimum daily balance.
- Use in-network ATMs.
- Set up overdraft protection.
- Be mindful of wire transfers.
Why Discover Bank Might Be Right for You
With no monthly maintenance fees and a transparent fee structure, Discover Bank makes banking more affordable. Whether you need a checking, high-yield savings or a CD account, you won’t have to worry about extra costs cutting into your balance.
FAQs on Discover Fees
Here are the answers to some of the most frequently asked questions about Discover fees and how to avoid them.- How can I get my Discover Bank monthly service fee waived?
- Discover Bank doesn't charge monthly service fees, so there is nothing to waive.
- What is the overdraft limit for Discover Bank accounts?
- Discover doesn't allow for overdrafts unless you have overdraft protection set up with a linked account.
- Does Discover Bank refund ATM fees?
- Discover doesn’t charge for out-of-network ATM use, but third-party ATMs may impose a fee. Discover does not reimburse those charges.
- Are there fees for closing a Discover Bank account?
- No, Discover Bank does not charge any fees to close your account.
More on Discover Bank
- Discover Bank Review
- Discover Bank’s Newest Promotions
- Discover Bank CD Rates
- Discover Bank’s Routing Number
Caitlyn Moorhead contributed to the reporting for this article.
All information about Discover® Cashback Debit & Discover® Money Market Account has been collected independently by GOBankingRates. Discover® Cashback Debit & Discover® Money Market is no longer available through GOBankingRates.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Sept. 23, 2025.
Editorial Note: This content is not provided by Discover. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Discover.
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- CNBC. 2022. "7 Common Banking Fees and How to Avoid Them."
