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Discover Cashback Debit checking account review

Pay no monthly fees and earn cash back on everyday purchases.

finder.com’s rating: 4.8 / 5.0

★★★★★

If you’re looking for a basic checking account with minimal fees, the Discover Cashback Debit checking account might be right for you. With no monthly service fees, free access to over 60,000 ATMs and the ability to earn cash back on everyday purchases, this account makes it easy to manage your money and save some cash in the process. It’s only available online, however, so if in-person banking is important to you, you’ll need to look elsewhere.

$0 per month

Fee

$0

Minimum deposit to open

Details

APYN/A
Fee$0 per month
Minimum deposit to open$0
ATMsOver 60,000 no-fee ATMs across the U.S.
ATM transaction fee$0
Overdraft fee$0
Nonsufficient funds fee$0
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Review by


Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.

Expert review

The Discover Cashback Debit Checking account is for those looking to earn rewards on everyday purchases. There are no monthly maintenance fees or minimum balance requirements and you’ll have access to more than 60,000 ATMs nationwide.

But as an online checking account, you won’t have the ability to make cash deposits and there’s only one branch location.

How do I open a Discover Cashback Debit checking account?

You can open a Discover Cashback Debit checking account online or call 800-347-7000.

Follow these steps to apply online:

  1. Go to the provider’s site and follow the steps to apply.
  2. From the Discover website, hover over Banking, then select Checking.
  3. Choose Open an Account.
  4. If you’re new to Discover, select Continue. If you’re already a customer, choose Log in.
  5. Enter your name and Social Security number, then hit Continue.
  6. Enter your address and select Continue.
  7. Fill in details about your citizenship and occupation, then choose Continue.
  8. Proceed through the account setup questions.
  9. Add your funding information, then hit Continue.
  10. Read and agree to the terms, then submit your application.

Eligibility

To open this account, you must meet the following eligibility requirements:

  • US citizenship.
  • Valid US address.
  • Minimum 18 years old.
  • Valid Social Security number or taxpayer ID.
  • Deposit any amount into the account within 45 days.

Required information

When you apply, be ready to provide:

  • Contact information like name, date of birth and address.
  • Social Security number or taxpayer ID.
  • Employment information.

What are the benefits of the Discover Cashback Debit checking account?

  • Earn rewards. Get cash back on up to $3,000 of eligible purchases each month, to be deposited directly into your Discover checking, savings or money market account.
  • Minimal fees. This account has no monthly minimum balance requirements or service fees, plus you won’t pay for incoming wire transfers. If your card is lost or stolen, get it replaced for free.
  • Mobile app. Manage your accounts, make transfers, deposit checks, pay your bills, send money to friends and more through Discover’s mobile app and online platform.
  • Free checks. Few online checking accounts allow you to write checks, but Discover goes a step further and provides free check reorders.

When you choose this account, you’ll get access to all the benefits of banking with Discover, including FDIC insurance for up to $250,000, fraud monitoring and liability and bill pay protection. Plus, if you have multiple accounts with Discover, connect them to manage your money all in one place.

Discover ATM network and fees

The Discover Cashback Debit card comes with access to Discover’s network of over 60,000 fee-free Allpoint and MoneyPass ATMs. Plus, Discover won’t charge you to use more than 415,000 other ATMs across the country — though ATM owners may charge a fee.

What should I look out for?

  • No cash deposits. Deposit checks with your mobile phone, direct deposit, mail or make an online transfer. Discover won’t accept cash deposits or traveler’s checks.
  • Cashback eligibility. Cashback rewards are limited to $3,000 in spending per month, and doesn’t apply to ATM transactions, purchasing money orders, cash back from retailers, peer-to-peer payments or loan payments.
  • Limited physical locations. Discover operates almost entirely online, with one branch located in Greenwood, Delaware.
  • Daily withdrawal limit. You’re limited to $510 per day from ATMs.
  • One account per customer. As of December 1, 2017, you can be an individual or joint owner of only one Discover Cashback Debit account.

Fees

  • Wire transfer fees. Though incoming wire transfers are free, outgoing wire transfers cost $30.

If you’re looking for a checking account that offers in-person banking opportunities and cash deposits, you’ll want to keep looking. As always, compare your options when looking for a checking account.

Compare with other checking accounts

Name Product APY Minimum deposit to open ATMs Out-of-network ATM fee
Aspiration Spend & Save Account
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Aspiration Spend & Save Account
5.00% on balances of $0 to $10,000
$10
55,000+ free Allpoint ATMs worldwide
$0
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards and a $150 bonus when you spend $1,000 in your first 60 days.
NorthOne Business Banking
Finder Rating: 3.4 / 5: ★★★★★
NorthOne Business Banking
N/A
$50
withdraw cash at any Cirrus branded ATM location (+1,000,000 locations accross the U.S + 2m worldwide), including MoneyPass ATMs

$0
NorthOne Business Banking is an all-in-one solution for small business owners, startups and freelancers. It boasts unlimited free transactions, subaccounts, and robust bookkeeping integrations.
Citi Priority Checking
Citi Priority Checking
0.01%
$50,000
Over 72,000 fee-free ATMs in the U.S.
$2.50
Secure online banking and access to cash with one of the largest networks of fee-free ATMs in the US. Earn up to $1,500 when you open an eligible account and complete required activities.
Current
Finder Rating: 4.6 / 5: ★★★★★
Current
4.00% on balances of $0.01 to $2,000
$0
over 40,000 in-network Allpoint ATMs in the U.S without ATM fees
$2.50
Current is a mobile-only account with spending and savings tools. Additional features include no overdraft fees and free AllPoint ATM access.
OnJuno
Finder Rating: 4.8 / 5: ★★★★★
OnJuno
1.20% on balances of $0 to $50,000
0.25% on balances of $50,000.01+
$0
More than 85,000 ATMs nationwide
$0
A free account for crypto and cash that earns a 1.2% bonus rate plus 5% cashback on purchases from participating retailers.
First Citizens Bank Free Checking
First Citizens Bank Free Checking
N/A
$50
1,100+ First Citizens Bank ATMs
$2.50
First Citizens Bank Free Checking stands out for its built-in finance tracking tool, Manage My Money. Available to residents in NC, SC, TN, AZ, CA, CO, FL, GA, KS, MD, MO, NM, OK, OR, TX, VA, WA, WV, and WI.
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How much do I need to open an account?

This account doesn’t require a minimum deposit to open. However, once the account is open, you’ll need to make a deposit of any amount within 45 days to prevent it from being closed.

How do I deposit or withdraw my money?

Deposit or withdraw money easily through the Discover site, mobile app, phone or mail.

Deposits

Deposit your money by:

  • Making an online transfer from an external bank account.
  • Setting up direct deposit.
  • Using mobile deposit on its app.
  • Mailing a check addressed to you with your account number on the memo line to:
    Discover Bank
    PO Box 30417
    Salt Lake City, UT 84130.

Withdrawals

Access your money by:

  • Using an ATM.
  • Getting cash back from a store.
  • Making online transfers to an external bank account.
  • Paying bills online through its site.
  • Writing a check.
  • Requesting an official bank check.
  • Using a wire transfer.

How do I get in touch with customer service?

There are a few ways to reach Discover Bank customer service:

  • By phone. Call 800-347-7000.
  • By mail. Send a note to:
    Discover Bank
    PO Box 30416
    Salt Lake City, UT 84130
  • Online. Log in to your account to use the secure message center or live chat.
  • Twitter. Tweet @Discover.

What other banking options does Discover offer?

While Discover only offers one checking account, it has a number of other personal banking options:

  • Discover Online Savings Account. Offers a 1.10% APY and has minimal fees, helping you save more.
  • Discover Money Market. Enjoy minimal fees and easy access to your money. Earn 1.00% APY on balances between $1 and $99,999, or earn 1.05% APY on balances of $100,000 or more.
  • Discover CDs. Terms range from three months to 10 years and APYs go as high as 2.90%, but you’ll need to deposit at least $2,500 to open an account.
  • IRA CDs. Save money for retirement using Discover’s Roth and traditional IRAs with guaranteed returns.

What business services does this bank offer?

None. Discover only offers consumer financial products.

Frequently asked questions

What do I do if I lose my card?

Report a lost or stolen card by calling 800-347-7000. Discover sends you a new card with a new number. You can also freeze your card online, through the app or call Discover to prevent unauthorized purchases or ATM transactions. Unfreeze your card once you find it or receive a new one.

What’s the limit to how many cashback rewards I can earn?

Earn cash back on eligible purchases up to $3,000 per month, for a total of $360 in cashback rewards each year.

Where can I use my card internationally?

You’re limited to ATMs and purchases in Canada, Mexico and the Caribbean where you see the Discover, Pulse or Diners Club International symbols.

How do I set up online bill pay?

Simply log in to your account and enroll in online bill pay. Once you’ve enrolled, select Make a Bill Payment to start paying bills. Be ready to provide details about your payee such as address and your account number.

How do I get overdraft protection?

Log in to your online account via the Account Center, then select Overdraft Protection under Accounts. This directs you to the Overdraft Protection enrollment page.

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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