Any Discover Cashback Debit account users?
Any Discover Cashback Debit account users?
I just used Discover Cashback Debit account to transfer some money to Citi Checking yesterday 11/22. It said the money would be delivered by 11/29. That's full 4 business days!
Sure enough the money is not in Citi checking yet today 11/23.
I am pretty sure if this was Sofi the money would be in Citi in the morning already.
I called Discover and they said it takes 2 to 4 business days.
Are there any other Discover Cashback Debit account holders here? What is the normal speed for external transfers? Does it really take 4 full business days? I need the money in by Friday 11/26. Am I screwed?
Sure enough the money is not in Citi checking yet today 11/23.
I am pretty sure if this was Sofi the money would be in Citi in the morning already.
I called Discover and they said it takes 2 to 4 business days.
Are there any other Discover Cashback Debit account holders here? What is the normal speed for external transfers? Does it really take 4 full business days? I need the money in by Friday 11/26. Am I screwed?
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Re: Any Discover Cashback Debit account users?
My DW and I have a discover cash back debit account as well as personal savings accounts. Discover’s ACH speed is a constant mystery to us. It seems stuck in the past compared to our other banks in this regard. Most of the time it seems to transfer in 2 days. However sometimes, without apparent reason, it can be 4 days.
We set up this account when we got married to deposit money into for our shared bills. It serves this purpose well, but this inconsistency does drive me nuts sometimes.
We set up this account when we got married to deposit money into for our shared bills. It serves this purpose well, but this inconsistency does drive me nuts sometimes.
Re: Any Discover Cashback Debit account users?
After the first time mine sped up.
Also whether you're pushing or pulling matters too.
Getting money from my CU into Discover is much faster if I pull from Discover side. (next day)
Institution seems to matter also, I've seen Fidelity transfers done same day.
Also whether you're pushing or pulling matters too.
Getting money from my CU into Discover is much faster if I pull from Discover side. (next day)
Institution seems to matter also, I've seen Fidelity transfers done same day.
Re: Any Discover Cashback Debit account users?
Money is still not in from Discover Bank
I used Sofi yesterday 11/23 to transfer into Citi. Money is in now 11/24 from Sofi. Luckily I had money in Sofi this time.
I used Sofi yesterday 11/23 to transfer into Citi. Money is in now 11/24 from Sofi. Luckily I had money in Sofi this time.
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Re: Any Discover Cashback Debit account users?
When transfers take a long time, it may represent a bank's hold policy. Sometimes the hold policy is done for security reasons. Other times it is done so the bank can earn interest on the money for a couple of days before allowing the customer to spend it.
Re: Any Discover Cashback Debit account users?
Money is finally in on 11/26.
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Re: Any Discover Cashback Debit account users?
I have Discover Checking as well and can confirm that transfers take ridiculously long times. Overall, I’m a happy customer as their customer service is incredible. But the way they handle transfers is one drawback.
Re: Any Discover Cashback Debit account users?
I am planning to use the Discover Cashback Debit account to pay for my HOA fees and Property Tax. Do you know if I can get 1% back? I am going to use the routing number and checking account number, not the debit card.
I saw a youtuber saying that he was able to get the 1% paying rent with routing + account numbers...
I saw a youtuber saying that he was able to get the 1% paying rent with routing + account numbers...
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Re: Any Discover Cashback Debit account users?
I have never gotten the cash back on non-debit card based transactions. All of their literature made it seem like using the card was required to get the cash back.frugalor wrote: ↑Fri Nov 26, 2021 5:37 pm I am planning to use the Discover Cashback Debit account to pay for my HOA fees and Property Tax. Do you know if I can get 1% back? I am going to use the routing number and checking account number, not the debit card.
I saw a youtuber saying that he was able to get the 1% paying rent with routing + account numbers...
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Re: Any Discover Cashback Debit account users?
I recently looked into this, as I was thinking about using this card primarily for mortgage payments, HOA dues, and other bills that don't accept credit cards. Looks like per Discover policy, loan payments (which I assume includes mortgage payments) would not be eligible for 1% cash back.
Re: Any Discover Cashback Debit account users?
I do not have the checking but I do have a Discover savings account. ACH transfers initiated with Discover Savings also take a long time. 3-4+ business days. It is painful.