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Discover Bank® for international wire transfers
You can make international transfers online using your Discover bank account.
However, the fees and costs associated with international wire transfers are much higher when compared to a money transfer provider.
Here’s an overview of how Discover Bank's international transfer fees compare to an average money transfer provider.
Transfer type | Discover Bank® | Money Transfer Companies |
Sending fees | $30 | $0 - $20 |
Receiving fees | $0 | $0 |
Exchange Markup | 1% - 1.5% markup | 0% - 2% |
Transfer Times | 1 to 2 business days | Instant - 3 business days |
Payment Methods |
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Scoring Discover Bank®
We’ve looked at and analyzed the exchange rates, transfer costs, support, and online user reviews. Here’s a quick summary of the top highlights and drawbacks.
- No monthly fees, overdraft fees, or minimum balances. There are no fees with Discover Bank's checking account, including no monthly minimum fees or fees for insufficient funds. You won't be charged for returned products, and you won't be charged if you terminate your account.
- 60,000+ fee-free ATMs. Account holders can use any of the 60,000 ATMs in the Allpoint and MoneyPass networks for free withdrawals. If you use an ATM outside of these networks, you may be charged a fee by the third-party ATM owner.
- No incoming international wire transfer fees. Most banks such as Wells Fargo and Bank of America charge a fee for incoming transfers.
- Only 4 deposit options. Discover only offers online transfers, direct deposits, mobile checks, and cash deposits. This means you can use money orders, ATM deposits, or cashier checks.
- No physical branches. This means if you have a question, or want to send or deposit large amounts, you will need to contact them over the phone.
- Long transfer times compared to other services. Discover takes around 2-4 days to make an international transfer, while banks like BofA take 1-2 days, and Wise is instant in most cases.
Discover Bank® fees and exchange rates
Fees and rates
Exchange rates
Discover Bank claims they charge 0% exchange rate markup on transactions, however, we found that there is around 1% - 1.5% markup on international transfers.
However, it is worth noting that international transfers are made via the SWIFT network, which means your money will transit through 1-5 intermediate banks before arriving at its final destination.
This means that the transferred amount is likely to get converted somewhere along the way, meaning that the exchange rate could be influenced by the intermediary rather than the Discover bank itself.
You can get the right value for your exchange if you use a provider that offers the mid-market rate on exchanges.
Online money transfer providers like Wise, Revolut, and Instarem all make exchanges using the mid-market rate, but there’s a small fee for your transfer.
We’ve also looked at what other Discover Bank users had to say about the exchange rates and plotted average reviews in the graph below.
International transfer fees
Discover charges $30 for every outbound international transfer, regardless of whether it is local or international.
Discover Bank themselves don’t charge a receiving fee, however intermediary banks might.
Each intermediary bank that handles your transfer is authorized to impose a fixed fee, usually between $20 and $50, which is deducted from the total value of the transfer.
Now to put this into perspective, here’s an example of how Discover compares to another bank and Wise.
Let’s assume you’re making a $1000 transfer from the US to a bank via wire transfer to an account in the following countries:
Country | Discover Bank® fees | Chase Bank fees | Wise fees |
|---|---|---|---|
$30 + ~2% markup | $40 + ~5% markup | $10.79 + 0% markup | |
$30 + ~2% markup | $40 + ~5% markup | $6.50 + 0% markup | |
$30 + ~2% markup | $40 + ~5% markup | $10.36 + 0% markup |
Similar to the exchange rates, we’ve looked at what others had to say about the transfer fees and plotted the average rating on the graph below.
Transfer speed
Transfer speed
Discover transfer speed depends on the day and time the international bank transfer is initiated:
SEPA transfers made online should be initiated before 3.30 PM on a business day
SEPA transfers made over the phone should be initiated before 3:30 PM or 3.59 PM if speaking with a customer service agent
SEPA transfers made in-branch at the self-service terminal should be initiated before 4.00 PM
Non-SEPA transfers should be initiated before noon on a business day, regardless of the method
If you submit your international bank transfers as outlined above, you should see funds reach your recipient in 1 to 2 working days.
Scheduled transfer orders are only available for SEPA payments, but these are typically processed within 1 business day.
An Express option is also available for non-SEPA transfers; this will cost an additional €10.
When it comes to the transfer speed, this is how other online reviews averaged out.
Transfer limits
Transfer limits
Discover Bank offers generous international transfer limits, with up to $250,000 per transaction and a $2,000,000 monthly cap.
In addition, domestic transfers within the US with Zelle have a $600 daily limit for sending money, with limits potentially varying by recipient.
Here’s a summary of all transfer limits:
Transfer Type | Per Transaction | Daily Limit | Monthly Limit |
|---|---|---|---|
Outgoing Transfers | Up to $250,000 | Up to $250,000 | Up to $2,000,000 |
Incoming Transfers | Up to $250,000 | Up to $250,000 | Up to $2,000,000 |
Zelle Transfers | Varies by recipient | $600 daily limit for sending | None |
We’ve also looked at how others have rated the transfer limits.
Product offering
Product offering
Mobile App
Discover offers a mobile app. It is free to download and available for iOS and Android.
It is called Deutsche Bank Mobile and has been rated 4.7 on the App Store and 4.5 on the Google Play Store.
When it comes to features, this is how other users have rated Discover features.
Ease of use
Ease of use
Similar to other sections of this review, we’ve looked at the average reviews from other users for Discover's ease of use. Here’s what it looks like.
Customer service
Discover Bank offers the following contact options:
Phone
Mail
Secure Message
Live Chat
If you need any assistance, you can reach them via:
Contact Method | Details |
|---|---|
Phone | 1-800-347-7000 (24/7 Customer Service) |
Discover Bank, P.O. Box 30416, Salt Lake City, UT 84130-0416 | |
Secure Message | Send via online banking after logging into your account |
Live Chat | Available on the Discover website, typically during business hours |
As for Discover support, this is how Discover online reviews stack up against Wise.
Safety and trust
Safety and trust
Discover offers multiple layers of security to its customers. Here are a few examples:
Fraud protection: No liability for unauthorized debit card purchases.
Secure online banking: SSL encryption for data protection.
Proactive fraud monitoring: Alerts for unusual activity.
Information privacy: Strict policies to safeguard personal data.
FDIC insured: Coverage up to the maximum legal amount.
Enhanced account verification: Multi-factor authentication for added security.
For security, we’ve also looked at the reviews from other Discover users. This is what it looks like when compared to Wise.
Customer feedback
Customer feedback
Online reviews of Discover Bank are mixed.
Positive feedback is largely around Discover's strong customer service, especially in handling disputes and fraud protection, as well as attractive features such as no fees for checking accounts, competitive interest rates, and early access to funds.
Many users find it easy to use and highlight the responsiveness of Discover’s U.S.-based customer service team.
However, complaints often center around issues with online security, unhelpful responses from the fraud department, unexpected account closures, poor handling of disputes, hidden foreign exchange costs, and perceived unprofessional customer service.
Some users have expressed dissatisfaction with unexpected fees and account limitations.
Overall, while Discover is praised for certain benefits and responsiveness, significant concerns regarding customer support and security are raised by many.
Here's a summary of average user reviews so far this year.
Review Category | Jan 24 | Feb 24 | Mar 24 | Apr 24 | May 24 | Jun 24 | Jul 24 |
|---|---|---|---|---|---|---|---|
International Transfers | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Fees | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
Exchange Rates | 5 | 5 | 1 | 0 | 0 | 0 | 0 |
Speed | 0 | 0 | 5 | 0 | 0 | 0 | 0 |
Limit | 0 | 0 | 5 | 0 | 0 | 1 | 0 |
Features | 0 | 0 | 5 | 1 | 0 | 0 | 0 |
Ease of Use | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
Safety | 0 | 0 | 5 | 0 | 0 | 1 | 0 |
Customer Support | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
Opening an account with Discover Bank®
Opening a Discover online bank account is simple and straightforward.
Before opening an account, you will need to have the following details ready:
Full name and date of birth
Social Security Number (Taxpayer Identification Number)
U.S. mailing address (no P.O. boxes)
Email address and phone number
State-specific identification
Once you have these ready, follow the steps below to open an account:
Choose the account
Create a profile
Enter you details
Select an account type
Add funds to your account
Making international transfers
To send money abroad via Discover, you will need the following details:
Full name and address of the beneficiary
Beneficiary’s bank account number
Beneficiary’s bank routing number (ABA) for domestic or SWIFT/IBAN/CLABE for international transfers
Amount to be transferred
U.S. dollars for international outbound wires
Discover Bank® swift code is IRVTUS3N
Use the search box below to find your recipient’s SWIFT code.
Find a SWIFT Code
There are a few ways to send money with Discover Bank - via the Account Center or by printing, filling out, and submitting the paper form, as well as you can use Zelle for domestic transfers.
Sending international wire transfers online
Initiate the transfer
Provide beneficiary information
Specify the amount
Review and submit
Sending international wire transfers via the form
Download and print the form
Fill out the details
Add transfer amount
Sign the form and submit
Use Wise to send money from your Discover account
It may be simpler to fund your transfer with your Discover account, but use a transfer provider like Wise to send your money overseas.
Register for a Wise account
Add the details of your transfer
Review the received amount
Send the money
Receive international transfers
To receive an international wire transfer to your Discover Bank account, you’ll need to provide the following information to the sender.
Your ABA, RTN, or SWIFT code
For domestic wire transfers, you’ll need to supply the Wire Routing Transit Number (your ABA or RTN): 031100649 for domestic transfers and 043000261 for international wire transfers.
For international wire transfers, you’ll need to supply your SWIFT code or BIC: IRVTUS3N
The bank name and address
Depending on the type of transfer, the Discover Bank address is: Mellon Bank Center, Pittsburgh, PA 15258
Your account number, name, and address
You’ll need to supply your complete Discover Bank account number, the name on your account, and the complete address of your account as it appears on your bank account.
How Discover Bank® compares to money transfer services
Discover Bank is a good bank for day-to-day money management, but with a lack of physical branches and high fees, it might not be the best option.
Here are a few alternatives that are simply better.
Fees & Rates9.4Transfer Speed9.0Safety & Trust9.5Product Offering8.8Transfer Limits9.5Ease of Use10.0Customer Feedback8.5Overall
Fees & Rates9.8Transfer Speed9.0Safety & Trust9.0Product Offering8.0Transfer Limits9.0Ease of Use9.0Customer Feedback8.4Overall
Fees & Rates9.3Transfer Speed9.0Safety & Trust9.0Product Offering8.0Transfer Limits9.0Ease of Use9.0Customer Feedback8.7Overall
Fees & Rates9.1Transfer Speed8.0Safety & Trust9.0Product Offering9.0Transfer Limits8.0Ease of Use9.0Customer Feedback9.0Overall
Fees & Rates9.4Transfer Speed8.0Safety & Trust8.5Product Offering8.8Transfer Limits9.5Ease of Use8.2Customer Feedback8.3Overall
These services are faster and cheaper, and if you already have a bank account (be it Discover or any other), you can use it to fund your transfer.
Other Alternatives
Alternatively, consider using one of these neobanks for international transfers.
Discover Bank®: Is it good for transfers abroad?
Discover Bank is most known for its rewards credit cards, if that is not your primary need, you’re better off with another bank.
The company's customer service representatives are kind and knowledgeable, but it's not the same as building a relationship with employees at a physical branch.
If you need to make a transfer abroad and already have a bank account, we strongly suggest you compare your options before making a transfer.
Use our form below to get the best exchange rates for your needs.
A bit more about Discover Bank®
Can I use a Discover Bank debit card when traveling abroad?
Can I open a Discover Bank account in any country?
Help & FAQ
Get answers to the most common questions asked when sending money abroad. Covers costs, fees and the best way to compare.
More Banks
You can send international wire transfers with Capital One, however, at a higher cost compared to other banks and services. They also use a SWIFT network to process their transactions, meaning transactions will take longer.
No doubt BofA is one of the more popular banks in the US, but it might not be your best option for sending money abroad.
Here’s a quick overview of Chase and how it compares to an average money transfer provider.
Here’s an overview of Wells Fargo’s international transfers, and how they compare to money transfer companies.
