Couple walks down the street discussing money market interest rates.
Earn a High APY

Money Market Account

Get cash on the go and earn interest while you’re at it

Open an Account

Earn interest with a high interest rate account while still being able to access your cash via ATM, debit, or checks. Welcome to the Money Market life.

X.XX% APY

Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX for Money Market Account balances under $100,000 and subject to change daily without notice before or after the account is opened. Applies to personal accounts only. Minimum opening deposit is $2,500.

for balances under $100,000
X.XX% APY

Annual Percentage Yield (APY) is accurate as of XX/XX/XXXX for Money Market Account balances of $100,000 or more, on the entire balance in your Money Market Account, and subject to change daily without notice before or after the account is opened. Applies to personal accounts only. Minimum opening deposit is $2,500.

for balances $100,000 and over
Man wearing headphones and holding tablet smiles because he just opened a money market account.

Enjoy the feeling of a no-fee Money Market Account

No. Fees. Period. That means you won't be charged an account fee on our Money Market Account.

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.

You'll never pay fees for the following:

  • Monthly maintenance
  • Withdrawals at over 60,000 ATMs nationwide
  • Replacement debit card
  • Stop payment order
  • Standard checks
  • Official bank check
  • Online bill pay
  • Expedited delivery for debit card replacement
  • Expedited delivery for official bank checks
  • Deposited item returned
  • Excessive withdrawals

    The number of certain types of withdrawals and transfers from savings and money market accounts is limited to a combined total of 6 per calendar month per account. See the Deposit Account Agreement for details.

  • Insufficient funds
  • Account closure

Plan for the future, live in the now

Our Money Market interest rate calculator can help you set goals and plan for the next big thing.

This calculator and the values shown are intended for illustrative and informational purposes only and may not apply to your individual circumstances. This calculator uses an Annual Percentage Yield (APY) that is rounded to the nearest one-hundredth of one percentage point, e.g., .01%. However, actual interest earned calculations use an APY that is rounded to the nearest one-thousandth of one percentage point, e.g., .011%.  As a result, the estimated interest earned value shown here may vary from the actual interest earned on your account. Calculation assumes principal and interest remain on deposit and interest rate and APY do not change.

$
Please enter an amount between $2,500 and $5,000,000.
Yearsyrs
Total interest you'll earn
Total interest earned What you’ll earn with our Money Market Account

Amount is cumulative interest earned over duration of time chosen.

‘Total savings’ equals initial deposit plus interest earned over duration of time chosen.

Young woman riding bike to ATM machine to access her money market account.

Right here when you need us

See which of our over 60,000 no-fee ATMs are at the stores you already frequent.

Some ATMs have limited hours and/or restricted access. You may be charged a fee by the ATM owner if you use an ATM that is not part of our no-fee network. If you encounter any issues using the ATMs displayed on this site, please contact us at 1-800-347-7000.

Money Market Account FAQ

View Money Market Account FAQ

The minimum opening deposit is $2,500.

You are not required to maintain a minimum balance.

We do not charge any account-related fees. However, there is a $30 service charge for each outgoing wire transfer from your Discover bank account. You may be charged a fee by the ATM owner if you use an ATM that is not part of our no-fee network.

  • Complete an online transfer from an eligible Discover Bank account
  • Complete an online transfer from an external bank account to your Money Market account
  • Set up Direct Deposit
  • Deposit a check with Discover’s Mobile Check Deposit using your mobile device
  • Mail a check that is made payable to you with a deposit slip or your account number on the memo line to:
              Discover Bank
              PO Box 30417
              Salt Lake City, UT 84130

              For overnight delivery, mail it to:
              Discover Bank
              5420 West 1730 South
              Salt Lake City, UT 84104
  • Travelers Checks are not accepted for deposit

Yes, your money market account is eligible for enrollment in our overdraft protection service. Click here for more information about overdraft protection.

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