Discover Bank's website lists the five ways to make a deposit, which include an online transfer from an external bank account, direct deposit, via a mobile phone along with Discover's mobile check app, wire transfers and mailing a check. Wire transfers may have a fee associated with them.
Discover Bank does not charge a fee for inbound wire transfers, but the outbound transferring sources often do, with $30 being common, as of 2105. Mailed checks go to Salt Lake City, Utah, so delivery time must be taken into account. Paper checks also have to be verified once received, which means that the funds are not available for 7 to 10 business days, according to Discover Bank. Using the Discover mobile app eliminates the wait for the mail and the costs of postage, but the check still has to be verified, which can range from 1 to 3 days.
Direct deposit funds are available as soon as they are credited to the account, notes Discover. Setting up direct deposit requires submitting a simple, one-page form to Discover with instructions regarding the amount of the deposit, account information and signature.
Transferring from an external source is free and instantaneous as long as electronic verification procedures are followed. This requires the ABA routing number, account holder name and account number of the external source, as stated on the Discover Bank website.