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Discover Cashback Debit checking account review

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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

N/A

APY

$0

Minimum deposit to open

Details

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

Expert review

Peter Carleton

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.

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 Minimum deposit to open ATMs Out-of-network ATM fee
BBVA Online Checking
$25
No ATM fees nationwide at more than 64,000 AllPoint, participating 7-Eleven and BBVA USA ATMs
$3
A full-service account with convenient, surcharge-free access to two massive ATM networks, plus a $200 signup bonus when you meet deposit requirements
Citibank® Account Package
Citibank® Account Package
$0
No access to ATMs
$2.50
Earn a $400 bonus after opening new eligible checking and savings accounts and completing required activities.
Aspiration Spend & Save Account
$10
55,000 free in-network ATMs
$0
A spend and save combo account with unlimited cash back rewards and deposits insured by the FDIC. The Aspiration Spend & Save Account is a cash management account offering of Aspiration Financial, LLC, an SEC-registered broker-dealer. Aspiration is not a chartered bank.
NorthOne Business Banking
$50
More than 300,000 ATMs across America.

$0
A digital bank account featuring free cash deposits, on-demand customer support and streamlined bookkeeping integrations.
BBVA Free Checking
$25
1,000 fee-free ATMs across the country
$3
Pay a $0 monthly service charge and get free access to BBVA ATMs.
Chase Total Checking
$0
Access to 16,000 ATMs and nearly 4,900 branches nationwide
$2.50
Get a $200 bonus when you open a new Chase Total Checking account and set up direct deposit within 60 days of opening your account. Chase's simplest checking account is easy to use and gives you access to 16,000 ATMs and nearly 4,900 branches. Available online nationwide except in Alaska, Hawaii and Puerto Rico.
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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 apply?

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

Follow these steps to apply online:

  1. Visit the Discover website and hover over Banking, then click Checking.
  2. Click Open an Account.
  3. If you’re new to Discover, click Continue. If you’re already a customer, click Log in.
  4. Enter your name and Social Security number, then click Continue.
  5. Enter your address and click Continue.
  6. Fill in details about your citizenship and occupation, then click Continue.
  7. Proceed through the account setup questions.
  8. Add your funding information, then click Continue.
  9. Read and agree to the terms, then submit your application.

Eligibility

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

  • Be a US citizen.
  • Have a valid US address.
  • Be at least 18 years old.
  • Have a 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.

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:

Does this bank offer business services?

No. Discover only offers consumer financial products.

Frequently asked questions

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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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