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 / yield | Monthly fee | Minimum | Evidence |
|---|---|---|---|---|
| 2026-11-02 | 3.10% for accounts migrated to Capital One 360 Performance Savings (as of November 2026) | $0 | Closed to new applicants | Archive record · no attached snapshotFreshness-rotation reconfirmation: Discover remains closed to new deposit-account applicants, and converted accounts still carry Capital One 360 Performance Savings' 3.10% rate. Migration continues in batches through 2027. |
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.
- ▸The first batch of accounts converted to Capital One 360 Performance Savings on August 23, 2026; remaining batches continue migrating through 2027
- ▸Converted accounts keep the same account number but get a new routing number
- ▸New savers are directed to Capital One 360 Performance Savings instead
Pros
- +Converted accounts carry over the same 3.10% rate Capital One 360 pays everyone else
- +Deposits remain fully FDIC insured through the merged bank
- +Capital One 360 is a solid landing spot now that migration is underway
Cons
- −Closed to new applicants — you cannot open this account anymore
- −Platform migration to Capital One 360 creates account-number and autopay churn as each batch converts
- −The rate dropped from Discover's old 3.30% to Capital One 360's 3.10% once an account converts
Our Take
Discover's Online Savings was a top-tier HYSA for a decade, and the brand is now retiring into Capital One. The first batch of accounts converted to Capital One 360 Performance Savings on August 23, 2026, carrying the same 3.10% rate Capital One pays its own savers; later batches convert 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 and expect a new routing number 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 2026-11-02
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