3 ways to add funds to your new bank account

Switching banks, or even just opening a new account, isn’t something people do on a whim. The decision can be driven by need, like moving to another state. Sometimes, it may result from learning more about different options. In other cases, the switch is about seeking better rates, lower or no fees, or digital access.

If you’ve decided to switch to a Discover account, here’s what you need to know about getting it funded ASAP. Depending on the kind of account you’re opening—whether it’s savings or a certificate of deposit (CD)—your available options and the timing may vary.

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1. Online transfer

Internal (from a Discover deposit account to a different Discover account)

If you have multiple eligible accounts at Discover (for example, an online savings account and a CD), you can complete an online transfer between accounts. Just log in via the app or online banking portal and follow the simple prompts to make a transfer.

External (from an account at a different bank to a Discover account)

There is no minimum opening deposit required to open any Discover Online Banking Account, including an Online Savings Account. The account must be funded within 45 days of account opening.

Here are three methods for completing the verification process with Discover:  

Instant verification

With instant verification, you just need to provide details about your external account. These include your name, the account number, and the ABA routing number. With that information, Discover should be able to verify your account and transfer the funds.

Real-time verification

With this method, Discover will ask for your name, your account number, and the ABA routing number, and will also require your login information (user ID and password) that you use to sign in online to your external account. Discover will verify that your account is valid and transfer the desired amount.

Trial deposit

With trial deposit verification, Discover will request information about your external account and then make two small deposits to that account—typically a few cents each. It typically takes three to five business days for these small trial deposits to show up in your external account. You’ll then confirm the amounts of these deposits to successfully authenticate the account (once this happens, the deposits are reversed).

By going through any of the methods above, Discover will process the transfer of funds. If you opt to initiate an account transfer at your other bank, you’ll need to share Discover’s routing number—031100649—and your account number to add an initial deposit to your Discover account within 45 days of opening it.   

Be aware that some banks may charge fees for outgoing transfers to other institutions. If you’re hoping to avoid that, check out other options for funding your account below. 

2. Mobile check deposit

A smartphone and a paper check are all you need to make a mobile check deposit. First, you’ll download the Discover Mobile App (available for Android phones and iPhones, tablets, and smartwatches) and register for access to online banking. Once signed in, you can complete a mobile check deposit by following the prompts—which typically involve capturing a clear image of the front and back of the check made out to and endorsed by you.

3. Direct deposit

If you want to fund your new savings account through direct deposit, you may be able to automatically enroll your Discover Bank account with Discover online or in the app. You may also be able to sign up directly through your employer or other payor, such as Social Security. Once you’re set up, please allow up to two pay cycles for your first deposit to appear in your account.

Other funding options

If none of these options work for you, you can also fund a Discover Online Savings Account or CD by mailing in a check (payable to you) and deposit slip, or initiating a wire transfer.¹

Now you’re ready to bank

You’ve funded your new account. Maybe you’ve even set up direct deposit or downloaded the mobile app. Regardless of how you bank, your bank should work for you, so make sure to check out all the benefits of a Discover Online Savings Account.

¹ Outgoing wire transfers are subject to a service charge. You may be charged a fee by a non-Discover ATM if it is not part of the 60,000+ ATMs in our no-fee network.

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The information provided herein is for informational purposes only and is not intended to be construed as professional advice. Nothing contained in this article shall give rise to, or be construed to give rise to, any obligation or liability whatsoever on the part of Discover, a division of Capital One, N.A., or its affiliates.