Introduction
Discover Cashback Checking, provided by Discover, is a debit card account with zero fees and a 1% cashback on debit card expenditures, up to $3,000 monthly. By applying through cashback platforms like Swagbucks, MyPoints, or InboxDollars, an additional sign-up cashback bonus of $50 to $67 is attainable.
Features Overview
- Completely free of charge
- 1% cashback on debit card spending (up to $3,000 monthly)
- Early salary access by two days
- Over 60,000 free ATM withdrawals
- Compatible with Apple Pay for rewards on eligible purchases
- Supports Zelle for sending and receiving transfers
- FDIC Insured
- Comprehensive anti-fraud protection
Sign-Up Bonus
Cashback platforms like Swagbucks, MyPoints, and InboxDollars, offer additional sign-up bonuses. By opening a Discover Cashback Checking account through these platforms, cashback bonuses are available:
To qualify, a minimum deposit of $50 post account opening is required, with various deposit methods supported.
Shortcomings
- Monthly cap on cashback earnings ($3,000)
- Lack of physical bank branches; online only
- May lack certain advanced banking features like high-interest savings or investment options.
Comparison
In this section, a horizontal comparison is made between Discover Cashback Checking and other mainstream big banks.
| Feature Description | Discover Cashback Debit | Chase Total Checking | Bank of America Advantage SafeBanking | Wells Fargo Everyday Checking |
|---|---|---|---|---|
| 1% cash back on up to $3,000 in debit card purchases each month | ✅ | — | — | — |
| Access to over 60,000 NO-FEE ATMs in the U.S. | ✅ | — | — | — |
| Fee-free overdraft protection transfer service | ✅ | ✅ | N/A | ✅ |
| Get paid up to 2 days early with Direct Deposit | ✅ | — | — | ✅ |
| Send and receive money with Zelle® | ✅ | ✅ | ✅ | ✅ |
| Free help removing your personal info from select people-search websites. Activate by mobile app | ✅ | — | — | — |
| Freeze debit card | ✅ | ✅ | ✅ | ✅ |
| No monthly fee (no balance or activity requirements) | ✅ | — | — | — |
| No fee for insufficient funds | ✅ | — | ✅ | — |
| No-fee official bank check | ✅ | — | — | — |
| No-fee for expedited delivery of your replacement debit card | ✅ | — | — | ✅ |
| No-fee check reorder | ✅ | — | N/A | — |