Finder makes money from featured partners, but editorial opinions are our own. Advertiser disclosure

Best cashback & rewards debit cards of May 2025

Explore cashback checking accounts that give you rewards on every dollar you spend.

Up to 3.80% APY: SoFi Checking and Savings

Mobile Eyes
FINDER'S PICK

9 Excellent

Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until January 31, 2026.
  • 0.50% APY on checking balance
  • Up to 3.80% APY on savings
  • $0 account or overdraft fees
  • Get up to a $300 bonus with direct deposits of $5,000 or more
Go to site
on SoFi's secure site
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savingsis offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults)and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00%APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.

SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.

We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.

Earn 1% cash back: Discover® Cashback Debit

9.6 Excellent

  • Earn 1% cash back on up to $3,000 in debit card purchases each month
  • No monthly, overdraft or foreign transaction fees
  • Get paid up to two days early with direct deposit
Go to site
on Discover's secure site
Earn 1% cash back on up to $3,000 in debit card purchases each month. See website for details.

Cashback & up to 3.75% APY: OnePay Cash

9.6 Excellent

Earn 10% cash back at Walmart on your first purchase made within your first month, on up to $200 spent. Limited time offer. Earn 3% cash back at Walmart on up to $150 spent per month, with eligible deposits.
  • $0 monthly fee and overdraft fee
  • Earn 3.75% APY on Savings with eligible deposits
  • Earn cashback on debit card purchases at Walmart and other brands
Go to site
on OnePay's secure site
OnePay is a financial technology company, not a bank. Banking services provided by Coastal Community Bank or Lead Bank, Members FDIC.
10% cash back at Walmart: Only available to customers who initiate their account application through certain channels from 3/18/25 - 6/30/25. Cash back earned as OnePay Points. See terms at onepay.com/10percent.
3% cash back at Walmart: Cash back is earned as OnePay Points, redeemable as a deposit into a OnePay Cash account pursuant to the OnePay Rewards Terms. Only applies to OnePay Cash accounts that have either (i) received Direct Deposit totaling $500+ in the current or previous month, or (ii) have a balance of $5,000+ as of the last day of the previous month. This reward applies to purchases at U.S. Walmart locations and on Walmart.com only and may not be combined with other OnePay Cash promotions for cash back at Walmart.
Early Pay: Get paid up to 2 days early. Direct Deposit is required. Funds may be available up to 2 days in advance, depending on when your employer sends paycheck data.
3.75% APY on Savings with eligible deposits: 3.75% annual percentage yield (APY) applies to the Savings balance of OnePay Cash accounts that have either (i) received $500+ of Direct Deposit in the current or previous month or (ii) have a balance of $5,000+ at the end of the previous month. 3.75% APY is also earned on Pay Autosave balances without deposit or balance requirements. 3.75% APY is limited to a total Savings balance of up to $250,000. All other Savings balances will earn 1.00% APY. APYs are as of 12/20/2024, but may change at any time before or after account opening.
ATM: Only applies to OnePay Cash accounts that have either (i) received Direct Deposit totaling $500+ in the current or previous month, or (ii) have a balance of $5,000+ at the end of the previous month. For all other ATM transactions the OnePay ATM Fee will apply and third-party ATM fees may be incurred.
Overdraft Protection: Available to OnePay Cash accounts that have either (i) received Direct Deposits totaling $500+ in the current or previous month, or (ii) have a balance of $5,000+ at the end of the previous month. You must be 18 or older to receive Overdraft Protection. When on, Savings Backup will be used before Overdraft Protection.
Overdraft balance is due right away. Transactions eligible for Overdraft Protection are at the discretion of OnePay and may exclude certain transactions (e.g., bill pay, global transfers). See details.

Best rewards checking accounts

The best rewards checking accounts give you fun perks like cash back or discount points when you use your debit card for everyday purchases. And unlike a cashback credit card, there’s no interest or monthly balance to pay back.

Best for big spenders

Discover® Cashback Debit

9.6 Excellent

Go to site
on Discover's secure site
Read review
This Cashback Debit account gives you 1% cash back on up to $3,000 in monthly debit card purchases, translating to approximately $30 in cashback earnings a month. There are also no monthly fees, no balance requirements, no insufficient funds fees, and there's free overdraft protection. Discover also works with Zelle for easy peer-to-peer transactions. The only fee is a $30 service charge for outgoing wire transfers, and there are no ATM reimbursements for using an ATM outside of Discover's network.
Fee$0 per month
Minimum deposit to open$0

Best hybrid account

SoFi Checking and Savings

9 Excellent

Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until January 31, 2026.
Go to site
on SoFi's secure site
Read review
SoFi® is an online, FDIC-insured bank. Its Checking and Saving account has no monthly fees, no overdraft or nonsufficent fees, and no opening deposit requirement. Earn up to 3.80% APY on your savings balance, and 0.50% APY on your checking. Direct deposit unlocks the most perks, as you get a Plus membership that unlocks the highest savings APYs, early paycheck arrival and higher cashback rewards on SoFi credit cards. You can also enjoy up to $3 million in additional FDIC insurance coverage. But to earn the highest savings rate, you either need to be a Plus member (requires direct deposit or $10 monthly subscription fee) or deposit at least $5,000 per month. And as an online bank, there's a $4.95 fee for cash deposits and no physical SoFi branches.
APYUp to 3.80%
Fee$0 per month
Minimum deposit to open$0

Best for building a savings

OnePay Cash

9.6 Excellent

Earn 10% cash back at Walmart on your first purchase made within your first month, on up to $200 spent. Limited time offer. Earn 3% cash back at Walmart on up to $150 spent per month, with eligible deposits.
Go to site
on OnePay's secure site
Read review
A spend and save account, OnePay offers fair APYs, cashback rewards and saving features. One of its main perks is the savings roundups, you can opt to have your purchases rounded to the nearest dollar, and the rounded-up amount is automatically deposited into your savings account. You can also create an unlimited number of savings 'pockets', each with its own account number, and you can dedicate specific pockets for certain expenses. You can also earn up to 3.75% APY on balances of $5,000 to $250,000. Otherwise you'll earn 1.00% APY on balances under $5,000 or over $250,000. Cashback rewards aren't the best-of-the-best, but OnePay Cash offers up to 3% cash back at Walmart on up to $150 spent per month, with eligible deposits. However, this account is better-suited for a singleton, as it doesn't accept joint accounts, and there are no bill autopay features.
APYUp to 3.75%
Fee$0 per month
Minimum deposit to open$0

Best for ATM reimbursements

Axos Bank CashBack Checking

9 Excellent

An online bank, Axos' CashBack Checking account comes with unlimited domestic ATM reimbursements and no monthly fees. You can also earn 1% cash back on signature-based transaction purchases, up to $2,000 earned per month. To qualify for the cash back, you must maintain a $1,500 average daily collected balance. If you fall below that threshold, you can still earn 0.50% in cash back for the month. You can also enjoy unlimited check writing and send peer-to-peer payments from your account. On the downside, Axos customer support information is difficult to locate — the customer support page leads to a blog, and there's no phone number or email address listed.
Fee$0 per month
Minimum deposit to open$0

Methodology

Finder’s banking experts research over 155 checking accounts to narrow down and find the best reward checking accounts. When choosing accounts we consider the average American’s spending — which is reported to be around $5,000 per month — to calculate the best value for cashback rewards. We also factor in these account requirements:

  • No monthly fees
  • Minimum opening deposits under $100
  • Existence of a rewards program
  • High cashback cap of at least $40 per month
  • At least 1% in cashback rewards
  • Few or simple requirements to qualify for the rewards program, such as:
    • Setting up direct deposits
    • No required number of transactions
    • Low average balance requirement under $1,500

Ask a question

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Read more on Bank Accounts

  • Debit Cards for Elderly Parents

    Greenlight, SoFi, Charlie, Step, Chase and Capital One have some of the best debit cards for elderly parents for safety and security.

  • Ally vs. Capital One: Which Bank Is Better?

    Ally and Capital One have similar APYs and no monthly fees, but Ally is online-only and Capital One has some physical locations.

  • Is BMO a Good Bank?

    BMO is a large bank with a broad suite of services, but customer reviews on Reddit aren’t glowing. SoFi, Axos and Upgrade are alternatives.

  • What’s the Best Bank for Seniors?

    Charlie, Chase and SoFi are some of the best free bank accounts for seniors and retirees, with competitive APYs and low deposit requirements.

  • Revolut Account Alternatives

    Some of the closest alternatives to Revolut include SoFi, One Finance, Wise, Ally, Capital One and Greenlight. Compare them here.

  • 5 Apps like Cash App

    There are lots of apps that are similar to Cash App, but top Cash App competitors include Venmo, Chime, PayPal, Revolut, Zelle and Apple Pay.

  • Compare KeyBank Checking, Savings and CDs

    KeyBank offers personal and business checking and savings accounts and certificates of deposit (CDs). But you need to live in one of 16 available states.

  • Navy Federal Credit Union provider review: Savings, Checking and CDs

    Learn more about military-focused banking with competitive rates and diverse products tailored to your needs.

  • How to Fill Out a Deposit Slip

    Learn what information you’ll need, how to withdraw cash at the same time and what your options are for personal or business online deposits.

  • Best Online Joint Bank Accounts

    SoFi Checking and Savings is our top pick for the best joint bank account. Other top banks include Relay, Zeta, Ivella, Ally, Discover and Quontic.

Go to site