Discover (now Capital One, N.A.)
Discover (now Capital One, N.A.) Online Savings Account
By Alex Compton · Last verified
A longtime HYSA favorite now closed to new customers after the Capital One merger
Insurance: FDIC insured up to $250,000; Discover Bank merged into Capital One, N.A. in May 2025
Account Terms History
A dated record of APY, fees and opening requirements. New changes append to this table; prior terms remain visible.
| Observed | APY | Monthly fee | Minimum | Evidence |
|---|---|---|---|---|
| 2026-09-07 | 3.30% for existing accounts (as of August 2026) | $0 | Closed to new applicants | Archive record · no attached snapshotLegacy snapshot; event-level evidence was not attached at the time |
Primary-source verification log
Append-only evidence ledgerEvent-level primary-source attachments begin with the September 2026 verification system. Older records remain visible but are not retroactively presented as evidenced.
Features
- ▸Existing accounts continue to earn interest and operate normally
- ▸No monthly fees, no minimum balance requirements
- ▸Discover merged into Capital One on May 18, 2025; one company under Capital One, N.A.
- ▸Accounts began migrating onto the Capital One 360 Performance Savings platform in batches starting August 23, 2026, continuing into 2027
- ▸Existing customers still service accounts through Discover channels until the migration date
- ▸New savers are directed to Capital One 360 Performance Savings instead
Pros
- +Existing holders keep a competitive 3.30% with zero fees
- +Deposits remain fully FDIC insured through the merged bank
- +Capital One 360 is a solid landing spot when migration happens
Cons
- −Closed to new applicants — you cannot open this account anymore
- −Platform migration to Capital One 360 creates account-number and autopay churn ahead
- −Capital One 360's headline rate is currently lower than legacy Discover's
Our Take
Discover's Online Savings was a top-tier HYSA for a decade, and existing customers should sit tight: 3.30% with no fees still beats most of the big names. This is now a legacy product being wound down: accounts started moving to the Capital One 360 Performance Savings platform in batches beginning August 23, 2026, with remaining accounts converting through 2027. New money should go straight to Capital One 360 Performance Savings or a true rate leader, and current holders should read the migration notice for their batch rather than panic-moving funds before then.
Best for: Existing Discover customers riding out the Capital One migration
Open at Discover (now Capital One, N.A.) →Last verified 2026-09-07
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