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Cheese Rewards Checking review

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Cheese Rewards Checking
4.0
★★★★★
Finder score
Fee
$0 per month
APY
N/A
Minimum deposit to open
$0

Our verdict

A digital bank dedicated to helping Asian-Americans rake in the cheddar through rewards and up to 10% cash back.

Cheese banking is best for those looking to earn cashback rewards for banking and use their dollars to support Asian and immigrant communities. The account has a long list of interesting perks, including no fees, up to 10% cash back on over 10,000 brands and up to 0% APY on account balances. Cheese’s customer service team is fluent in both English and Chinese and the company has pledged to donate $100,000 to Asian businesses and communities.

But the account is mobile-only and there’s no Android app yet. And if you need to speak with customer support, your only option is to contact them through email.

Pros

  • Cheese Giveback Fund
  • Cashback rewards
  • Competitive interest
  • No fees
  • Bilingual support

Cons

  • Not available on Android
  • No joint accounts
  • No foreign deposits
  • Limited support options

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How do I open a Cheese banking account?

Open a Cheese Rewards Checking account in minutes using these steps.

  1. Go to the provider’s site and follow the steps to apply.
  2. From the provider website, enter your mobile number and select Join Now & Get $5.
  3. Open the text on your phone and download the Cheese app.
  4. Launch the app and choose Get Started.
  5. Enter your phone number and hit Text Me.
  6. Enter your name and email address and select Next.
  7. Follow the prompts to finish creating your account.

You’ll get access to a virtual debit card as soon as Cheese approves your account. Your physical card will come in the mail within 10 business days.

Eligibility

Open an account when you meet these requirements.

  • At least 18 years old
  • Valid Social Security number
  • US residential address

Required information

Cheese will ask for this information when you open your account.

  • Full name
  • Valid US residential street address
  • Phone number
  • Email
  • Social Security number
  • Date of birth

What are the benefits of a Cheese banking account?

Cheese banking is FDIC insured up to $250,000 through Coastal Community Bank and receives paychecks up to two days earlier than traditional banks. It also has these benefits.
  • Cheese Giveback Fund. Cheese has pledged to donate $100,000 to Asian charities and nonprofit organizations.
  • Cashback rewards. Earn a flat 0.25% cash back on all purchases, up to $10 in rewards per day, plus up to 10% cash back at over 10,000 stores, including DoorDash, Chewy, Nike and more. View a complete list of offers in the app.
  • Competitive interest. Earn a base rate of 0.0% APY on your total balance, plus a boosted rate of 0% APY for 30 days when you refer someone to Cheese and they join and fund the account with $50.
  • No fees. This Cheese Rewards Checking account has no monthly fees and no minimum balance requirements.
  • Bilingual support. Cheese‘s customer support team speaks fluent English and Chinese, with other languages coming soon.

What should I look out for?

As with most digital accounts, Cheese banking doesn’t accept cash deposits or come with check-writing privileges. It also has these potential drawbacks.

  • Not available on Android. Cheese banking is only available to iOS and iPhone users. But will become available to Android users by May 2021.
  • No joint accounts. You can’t open a Cheese Rewards Checking account with a partner or family member.
  • No foreign deposits. Cheese doesn’t accept deposits in foreign funds or checks from banks outside the US, but you can still send and receive international wires.
  • Limited support options. Reach customer support only by emailing support@earncheese.com.

If you don’t have an iPhone, explore other rewards checking accounts to find the one that’s right for you.

Cheese‘s ATM network and fees

Use your Cheese Mastercard debit card at over 33,000 MoneyPass ATMs nationwide for free. Use the mobile app to find the ATM nearest to you. Cheese doesn’t charge fees for out-of-network ATMs, but the operator might.

Compare Cheese banking with other checking accounts

See how Cheese‘s features and fees compare to other digital checking accounts.

Name Product Fee Minimum deposit to open Annual Percentage Yield (APY) Offer
SoFi Checking and Savings
Finder Score: 4.5 / 5: ★★★★★
Bonus
SoFi Checking and Savings
$0 per month
$0
4.60% on balances of $0+
0.50% on balances of $0+
1.20% on balances of $0+
Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until June 30, 2024.
Earn up to 4.60% APY on savings by meeting deposit requirements, and 0.50% APY on checking balances. Members without deposit requirements will earn 0.50% APY on both savings and checking balances. Turn on automatic savings or use the Roundups feature to help you reach your savings goals faster. Get up to $2M of additional FDIC insurance through a network of participating banks.
Upgrade Rewards Checking Plus
Finder Score: 4.3 / 5: ★★★★★
Upgrade Rewards Checking Plus
$0 per month
$0
N/A
Earn up to 2% cashback rewards on everyday purchases. Pay $0 fees for overdraft, domestic wire transfer and monthly maintenance. Member FDIC.
Cash Card by Cash App
Finder Score: 4.4 / 5: ★★★★★
Cash Card by Cash App
$0 per month
$0
N/A
The Cash App Cash Card lets you pay for goods and services both online and in stores using your Cash App balance. Enjoy features like ATM access, direct deposit, instant discounts at select stores and a customizable card.
Axos Bank Rewards Checking
Finder Score: 4.2 / 5: ★★★★★
Bonus
Axos Bank Rewards Checking
$0 per month
$0
3.30% on balances of $0 to $50,000
Use promo code AXOS300 and apply by June 30th, 2024, to earn up to $300 bonus, $50 each month you meet requirements: Make direct deposits of $5,000+ each month for the first 7 months and maintain an average balance of $7,000.
Earn up to 3.3% APY after meeting rate requirements. Get ATM free reimbursements at all domestic ATMs. Pay $0 monthly or overdraft fees. FDIC insured.
Chime® Checking Account
Finder Score: 4.8 / 5: ★★★★★
Chime® Checking Account
$0 per month
$0
N/A
Save easily and access your paycheck up to 2 days early with direct deposit. Pay $0 monthly fees, and no minimum balance is required. Access 24/7 support and get daily balance and transaction alerts. FDIC insured.
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How do I deposit or withdraw my money?

Access money in your Cheese Rewards Checking account using these methods.

Deposits

  • Direct deposit
  • Check deposit in the mobile app
  • Transfer from a linked account
  • Domestic or international wire transfer

Withdrawals

  • At an ATM
  • Transfer to a linked account
  • Domestic or international wire transfer

How to contact Cheese Rewards Checking customer service?

Cheese’s customer support is fluent in both English and Chinese. Contact them by email at support@earncheese.com.

Checking account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.

Read the full methodology of how we rate checking accounts.

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