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Discover Bank $25 Sign Up Bonus

Discover Bank [1] just launched a new refer-a-friend program.

It’s an easy one too, which I’m always excited about, so we’re celebrating Free Money [2] early this week! In fact, I think we should declare this an official free money week, so be sure to check back every day for more free money.

Here’s how to get your $25 when you open a Discover savings account.

How to Get Your $25 Sign Up Bonus

  1. Open a Discover savings account [1] by November 1, 2011.
  2. When you fill out the application, be sure the refer-a-friend section is filled out with the referral code: 0000794505 and offer code: RAF911E1.
  3. Fund and maintain the account with $500 for 60 days.
  4. You’ll get $25 after the account is open for 8 more weeks.

Discover Terms and Conditions

  • Must be a new Discover Bank [1] deposit account customer.
  • The bonus offer amount will be reported as interest income for the account holder on form 1099-INT.
  • IRA CDs are not eligible for this offer.

More on Discover

Referrals. Once you open a Discover Bank [1] account, you can refer friends through the promotion. You and your friend will both get $25. There’s a maximum 20 bonuses to each customer per year. Update: Apparently, the referral program is random, so you’ll have to watch for an email to get a referral code for your friends. Thanks Steve!

Money Markets and CDs. You can also open a money market account or Discover CD with the promotion. However, the minimum funding and amount to maintain for those accounts is $2,500.

Previous Etrade Accounts. Don’t forget about your old etrade accounts! I ended up with a Discover savings account after they were converted from Etrade. Unfortunately, I was reminded of that when I tried to refer my husband; his account was converted too, which I conveniently forgot about. Now, I’m off to see if I can refer my kids…

For more information on Discover Bank, see the Discover Bank review [3].