r/discover

So I just got an email from Discover stating that my Money Market account will lose effectively all of its unique features and be turned into a standard savings account. I currently use my Money Market account as my main checking account and given Discover has disabled the option to open new checking accounts I am unsure exactly what I am intended to do here other than switch banks.

Just received this email (text copied below). To summarize, effective Oct 8, MMAs will no longer have the following features: Zelle, BillPay, the "add cash" feature, debit card use, use with digital wallets, overdraft protection, or unlimited withdrawals (Regulation D). There is no mention of checks, so hopefully paper checks tied to the account still work. The only upside is the APY is being changed to match Discover Online Savings accounts. Typically, Discover MMAs are 0.1%APY lower than Online Savings accounts. This change makes sense though, as they are essentially trying to convert the money market accounts into savings accounts before migration since Capital One doesn't really have an equivalent. I have long wondered what would happen to money market accounts. I guess I have my answer.

> IMPORTANT NOTICE ABOUT CHANGES TO YOUR DISCOVER MONEY MARKET ACCOUNT(S)

> Thank you for being a valued Discover customer. This letter is to notify you of upcoming changes to the Discover Money Market Account(s). Effective October 8, 2026, we are making changes to your Discover Deposit Account Agreement, Zelle Person to Person Transfer Service User Agreement Addendum, Bill Payment Service User Agreement Addendum, and Overdraft Protection Services Agreement Addendum that govern your Money Market Account(s) ("Account(s)").

> See below for the details and review them carefully as these changes impact your Account(s) and related services including Zelle, Bill Pay, your debit card, and the Overdraft Protection Service. The revised agreements are available online at https://www.discover.com/online-banking/forms-docs/. Please review them in full. By maintaining your Account(s) as of October 8, 2026 ("Effective Date"), you agree to the updated terms described below.

> Rate: Your Account(s) interest rate and APY is changing.

>On the Effective Date, the interest rate and Annual Percentage Yield ("APY") for your Account(s) will be adjusted to match the Discover Online Savings Account rates.

> * To effectuate this change, all references to tiered interest rates for Money Market Accounts are removed from Section 5(b) of the Deposit Account Agreement.

> * As a result of this change, your Account(s) will now have an APY* of 3.00% and an interest rate* of 2.96%.

> * APY and interest rates are variable. Rates above are current as of August 7, 2026 and are subject to change without notice. For information on current rates for Discover Savings Accounts, log in to your Discover account or call Discover at 1-800-347-7000.

> Debit Card: You will no longer be able to use your debit card with your Account(s).

> On the Effective Date, your Account(s) will no longer support debit card features, including point-of-sale transactions, retail purchases, digital wallets and ATM cash withdrawals, or adding cash using a Money Market debit card. Any existing debit card issued with your Account(s) will no longer be able to initiate transactions of any kind, or view account balances at an ATM and all transactions will be declined. If you have provided your debit card information to authorize a payment from your Account(s) that is scheduled to be processed on or after October 8, 2026, such payment(s) will be declined and you should make other arrangements. Debit card transactions from your Account(s) that started processing, but have not completed by that date will continue to process and be paid as normal, subject to the terms of that service.

> * To effectuate this change, all provisions allowing the issuance or use of a debit card in connection with a Money Market Account are removed from the Deposit Account Agreement, Section 1 Definitions, Section 13 Debit Cards and Section 27 Documentation of Transfer.

> Digital Wallets: Your Account(s) will no longer be integrated with digital wallets.

> On the Effective Date, integration with digital wallets, such as Samsung Pay®, Google Pay®, or Apple Pay®, is being discontinued for Money Market Accounts. Any existing links or cards provisioned within these wallets will be deactivated and removed. Furthermore, this deactivation extends to any merchants where the account is stored as a card on file for subscriptions or retail services.

> * To effectuate this change, all provisions allowing the issuance or use of a debit card in connection with a Money Market Account are removed from the Deposit Account Agreement, Section 1 Definitions, Section 13 Debit Cards and Section 27 Documentation of Transfer.

> Add Cash: You will no longer be able to use the "Add Cash" service with your Account(s).

> On the Effective Date, the "Add Cash" service feature will no longer be available for Money Market Accounts and you will no longer be able to add cash into your Account(s) at Walmart Locations.

> * To effectuate this change, all provisions allowing for the "Add Cash" service feature to be used in connection with a Money Market Account are removed from the Deposit Account Agreement, Section 10 (a) (i) Adding Money to your Account.

> Zelle®: You will no longer be able to use Zelle with your Account(s).

> On the Effective Date, you will not be able to send or receive any funds with Zelle using your Account(s). Your Zelle funding account will automatically default to an Eligible Account, if you have one. If you do not have any other Eligible Accounts, you will be unenrolled from the Zelle Person-to-Person Transfer Service.

> * To effectuate this change and eliminate the ability for you to use the Zelle P2P Service with a Money Market Account, the following definition in the ZELLE® Person to Person Transfer Service User Agreement Addendum, section 1.c. will be revised as follows:

> * "Eligible Account" means an individual or jointly owned Cashback Debit or Personal Checking maintained at Discover.

> Bill Pay: You will no longer be able to use Bill Pay and eBills with your Account(s).

> On the Effective Date, any scheduled or recurring bill payments scheduled from your Account(s) to be delivered on or after the Effective Date will be cancelled and you should make other arrangements to pay those bills. Bill payments that were scheduled to be delivered before that date and which started processing, but have not completed by that date, will continue to process and be paid as normal, subject to the terms of that service.

> * You can still use another Eligible Account, if you have one with Discover to access the Bill Pay Service, but may need to take additional steps to set up payments, billers and eBills.

> * If you do not have an Eligible Account with Discover, on the Effective Date you will be unenrolled from the Bill Pay service. Additionally, any eBills currently set up with your Account(s) will automatically be cancelled and you will be unenrolled from the eBills service. You will need to work with your biller to determine a different way to receive your statement.

> * To effectuate this change and eliminate the ability for you to use the Bill Pay Service with a Money Market Account, the following definition in the Discover Bill Payment Service User Agreement Addendum, section 1.i. will be revised as follows:

> * "Eligible Account" means an individual or jointly owned Cashback Debit or Personal Checking maintained at Discover.

> In addition, the following paragraph in the Discover Bill Payment Service User Agreement Addendum, 11. Limits on Transfers, b. Additional Transaction Limits for Money Market Accounts will be deleted as it is no longer applicable to Money Market Accounts.

> Each Bill Payment through the Bill Payment Service from a Payment Account that is a Discover money market account is counted as one of the six limited transfers permitted per calendar month for that money market account. Please see Section 11(a) (ii) of the Deposit Account Agreement for more information.

> Overdraft Protection Service: You will no longer be able to use Overdraft Protection Services with your Account(s).

> On the Effective Date, your Account(s) are no longer a Protected Account. This means that if a transaction (such as a check transaction) would overdraw your Account(s), the account can no longer receive funds from a Funding Account in connection with the Overdraft Protection Service and your account may be overdrawn. Your Account(s) can still be used as a Funding Account for Overdraft Protection Service for another eligible Protected Account.

> * The following definition in the Overdraft Protection Service Agreement Addendum, section 1. DEFINITIONS, will be revised as follows:

> * "Protected Account" means the Eligible Deposit Account that is a Cashback Debit or Retail Personal Checking at Discover that you have designated to receive funds from the Funding Account when there are insufficient funds in the Protected Account to cover the items/transactions presented.

> If you have questions, you can log into your Discover bank account and send us a secure message, or call us at 1-800-347-7000.

It hasn’t reflected my balance yet.

I need some MAJOR help. First premier, did something weird with my report. They automatically reissued a card but closed the account off on my credit report (had late payment 2 late payments from 2 years ago). Score didn’t increase when it dropped. But then they reissued my card and that account came BACK and essentially it was like fresh remarks. I hadn’t seen the tracker for 3 weeks and wondered why. Essentially what I’m saying is no accounts were actually past due. How do I tell them this? This was the 6 month I was supposed to get my security deposit back. Payments haven’t been late for 18+ months.

Hi, I got a Secured Card in January, did a $400 security deposit, first payment was due in March and I've made all my payments on time, if not earlier. I've made payments for 6 months (March-August), so does this mean I will be graduated to a Secured Card in a few days when my statement comes out? And I will get my check for my $400 deposit? Thanks!

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