The three ways to deposit money into Discover
You can move money into a Discover savings account through a bank transfer from another account you own, a wire transfer, or by mailing a check. Most people use the first method because it is free and takes one to two business days. Wire transfers arrive the same day but cost money. Checks take the longest but work if you have no other option.
Discover does not accept cash deposits or deposits at physical locations, because Discover is an online-only bank with no branches. You cannot walk into a store or ATM and hand over cash the way you can at a traditional bank.
Key Takeaways
- Bank transfers from another account are free and usually arrive within one to two business days.
- Wire transfers cost between $10 and $15 but arrive on the same business day if sent before the cutoff time.
- Mailing a check is free but takes seven to ten business days and requires you to mail it to Discover's processing address.
- You will need your Discover account number and routing number to set up a transfer from another bank.
- Discover does not accept cash deposits, mobile check deposits, or deposits at ATMs.
Setting up a bank transfer from another account
A bank transfer is the most common way to fund a Discover savings account. Log into your Discover account online or through the mobile app, go to the Transfers section, and select "Transfer money in." Discover will show you its routing number (026002211) and your account number. You will need both to set up the transfer from your other bank.
Go to your other bank's website or app and look for "Send money" or "External transfer." Enter Discover's routing number, your Discover account number, and the amount you want to move. Your other bank will ask you to confirm the transfer. The money usually arrives within one to two business days, though some banks take longer depending on when you initiate the transfer and whether it is a weekend.
If you prefer, you can also call Discover at 1-800-347-2000 and ask them to pull the money from your other account. You will need to provide your other bank's routing number, your account number there, and the amount. Discover will handle the transfer on your behalf, though this method is less common than doing it yourself through your bank's website.
Sending a wire transfer
A wire transfer moves money the same business day, but Discover charges a fee to receive it. The fee varies but is typically between $10 and $15. You initiate a wire transfer through your current bank, not through Discover.
Contact your bank and tell them you want to wire money to Discover. Provide them with Discover's routing number (026002211), your Discover account number, and the amount. Your bank will process the wire and deduct the fee from your account. The money arrives in your Discover savings account by the end of the same business day if you send it before your bank's wire cutoff time, which is usually mid-afternoon.
Wire transfers are useful if you need the money in your Discover account urgently, but the fee makes them more expensive than a regular bank transfer. Most people use them only when timing matters.
Mailing a check to Discover
You can mail a check directly to Discover, though this is the slowest method. Write the check to yourself, sign the back, and write your Discover account number on the memo line. Mail it to:
Discover Bank Attn: Deposit Processing P.O. Box 15298 Wilmington, DE 19850-5298
The check takes seven to ten business days to arrive and be processed. Discover will deposit the funds into your account once they receive and clear the check. There is no fee for this method, but the long timeline makes it impractical for most situations.
What information you need before you start
Before you move money into Discover, have your Discover account number and routing number ready. You can find both by logging into your Discover account online or through the app—they appear in the Transfers section. If you are transferring from another bank, you will also need that bank's website login or the ability to call them.
If you are sending a wire transfer, your current bank will ask for the amount and may ask for your name and address to match against Discover's records. Have your Discover account number written down so you can read it accurately to your bank.
Timing and when the money shows up
Bank transfers typically post within one to two business days. If you initiate a transfer on a Friday afternoon, it may not arrive until Tuesday because weekends do not count as business days. Some banks process transfers more slowly than others, so check with your bank about their specific timeline.
Wire transfers arrive the same business day if you send them before your bank's cutoff time. Cutoff times vary by bank but are usually between 2 p.m. and 4 p.m. Eastern time. If you miss the cutoff, the wire goes out the next business day.
Checks take the longest because they have to be physically mailed and then processed. Budget seven to ten business days from the time you mail it. Discover will not credit your account until the check clears, which happens after they receive it.
Frequently Asked Questions
Can I deposit cash into my Discover savings account?
No. Discover is an online-only bank with no physical branches or ATMs that accept cash deposits. You must transfer money from another bank account, send a wire transfer, or mail a check.
What is Discover's routing number?
Discover's routing number is 026002211. You will need this number to set up transfers from another bank or to send a wire transfer. You can also find it in your Discover account under the Transfers section.
Is there a limit to how much I can deposit?
Discover does not publish a per-transaction deposit limit for bank transfers or wire transfers. However, your other bank may have limits on how much you can transfer out in a single day. Check with your bank about their transfer limits.
Why is my transfer taking longer than expected?
Bank transfers usually take one to two business days, but delays happen if you initiate the transfer late in the day, on a weekend, or on a holiday. Some banks also process transfers more slowly than others. Contact Discover or your other bank if a transfer has not arrived after three business days.
Can I set up automatic deposits into my Discover savings account?
Yes. You can set up recurring transfers through your other bank's website by scheduling regular payments to your Discover account. You will need Discover's routing number and your account number. Discover also allows you to set up automatic transfers through their website if you have another bank account linked.