To open a Discover online savings account, customers must complete the online application, verify the information, deposit funds, and then complete the application, states Discover. To open an account, customers need a physical address, Social Security number or taxpayer ID, email address, phone number, and bank routing and account numbers.
Customers can also open a Discover online savings account by phone by calling 800-347-7000. When creating an account, customers must indicate whether they are new customers or have other accounts with the company, states Discover. As of 2015, this online savings account has a .9 percent annual percentage yield, no monthly balance requirements and no monthly fees for maintenance. The account requires a minimum $500 deposit to open.