You can now use your Discover Saving or Checking account to transfer money directly to another bank account—yours or someone else’s—using either a phone number or an email address. I only noticed this today after opening the Discover app. In fact, the two sides had already announced their partnership back in late October. 【reference here】
Most U.S. banks have joined the Zelle transfer network, and this Discover update will speed up transfers between different banks and P2P transfers. For example, your Chase Checking and Discover Saving can transfer in seconds, though the current limits are not clear. My three Discover Saving accounts can each be enrolled separately, while Savings only gets 6 free ACH transfers per month. With Zelle, this is much more convenient, and transfers will be instant—nice!
