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Discover® Bank Cashback Debit Checking Review

Reviews 247
Discover® Bank Cashback Debit Checking
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Discover® Bank Cashback Debit Checking
Discover® Bank Cashback Debit Checking
Poor
Reviews 247
Kale Havervold
Jan. 24, 2024
3 min read
Kale Havervold
Discover® Bank Cashback Debit Checking Summary
Discover® Bank dates back to 1911 and offers a range of services to customers, including bank accounts, credit cards, loans, mortgages, and more. The Discover Cashback Debit is a no-fee checking account that offers 1% cash back. (See website for details.) You can also get your paychecks early when you set up direct deposit. The account is secure and offers access to 60,000+ fee-free ATMs.

Pros

  • 1% cash back on debit purchases. See website for details
  • No fees
  • Comprehensive fraud protection

Cons

  • Only one physical branch location
  • No interest paid on the checking account

Discover® Bank Cashback Debit Checking at a glance

9.6
Editorial score

Fees?

No fees at all
10.0

Security

FDIC insured, SSL/AES encryption and supports 2 factor and biometric authentication
10.0

Customer service

24/7 service with multiple communication options, dedicated fraud team
10.0

Online experience

User friendly site with full online banking capabilities
8.0

Mobile experience

Excellent mobile app with all mobile banking features enabled, including digital check deposits
10.0

Discover® Bank Cashback Debit Checking Discover® Bank Cashback Debit Checking Visit Discover

Advantages Over Traditional Banks

The fees associated with the Discover CashBack Debit checking account are much lower than with many traditional banks. It has no monthly fee, no fee for insufficient funds, and the bank offers no-fee bank checks. There’s also no minimum balance or activity requirements for the account to have no fees.

Discover offers 1% cash back on debit purchases (See website for details), and the around-the-clock support provides the kind of convenience that many traditional banks cannot match with their limited hours. The collection of online tools and resources on offer also set Discover apart from traditional banks.

Cutting-Edge Banking Services

One of the most unique things about the account is that you can get the funds from your paycheck up to two days early when you set up direct deposit with the Early Pay feature.

You can also pay for purchases with a digital wallet like Apple Pay right from the app, and earn rewards while doing so. The Discover app is compatible with some types of wearable technology so you can easily check on your balance or account activity, right there on your wrist.

Discover lets you consolidate your bills into a hub that makes it easy to keep track. You can set up automatic payments to ensure your bills get taken care of on time. It's also possible to seamlessly and quickly transfer funds between accounts, even if one is not a Discover account.

What’s more, the bank provides free online privacy protection. Every 90 days, the bank will scan for your personal information on people-search sites and opt out on your behalf to keep your information private.

Traditional Banking Services

Despite having a single physical location in Delaware, Discover offers some traditional banking services as well. It provides fee-free access to 60,000+ ATMs across the country, and the bank offers mortgages, individual retirement accounts (IRAs), student loans, credit cards, and personal loans. 

Interest Rates and Fees

The Discover Bank Cashback Debit checking account charges no fees whatsoever. Note that it also doesn’t offer any interest on the account, but Discover provides a variety of other accounts to consider for your banking needs. Interest rates and fees vary on a case-by-case basis.


FeesInterest (APY)Minimum opening deposit required
CheckingNo feesN/AN/A
SavingsNo fees3.60%N/A
Certificate of Deposit (CD)Early withdrawal penalty fee4.30%-4.70% depending on term length$2,500
Money market accountNo fees3.50% for balances under $100,000, 3.55% for over$2,500
IRA CDEarly withdrawal penalty fee if you’re under 59.5 years old.4.10%-4.50% depending on term length$2,500
IRA Savings AccountNo fees3.60%N/A

Customer Service and Online Experience

Discover offers 24/7 phone support, and you can also reach out on the mobile app, via social media, or through the mail. The company has multiple support numbers for everything from opening an account and technical support to reporting fraudulent activity. Reviews for Discover customer support are generally positive.

Its website has a comprehensive FAQs page, and using the app is clear and straightforward. It also has a Discover Modern Money blog. It features articles on helpful topics like how to build a budget, how to invest, how to teach your kids about saving, and more. 

Mobile App 

You can use the Discover App on iOS and Android devices. It gives you the ability to control and manage your bank accounts from anywhere, at any time. It supports mobile check deposits, provides an ATM finder, and lets you easily pay bills online. 

You have the ability to set account alerts to monitor your account, and the app lets you reach out to customer support directly.

Logging into the app on your device is as easy as using a four-digit passcode or using Touch/Face ID to gain instant access. You can also use the Quick View feature to check your account balance without logging in.

Security

Discover takes your security seriously. It uses SSL encryption to protect your information, lets you set up two-factor authentication (2FA), and monitors all accounts for fraudulent activity. The account is FDIC-insured up to the legal maximum amount of $250,000, and you are never responsible for unauthorized debit purchases. 

You can set up alerts to monitor your account, and freeze your card if something looks suspicious. Freezing will stop Discover from authorizing debit purchases or ATM withdrawals with the card, but other account activity will continue as normal. Discover also has a team of dedicated fraud specialists.

The bank limits the sharing of information and has physical, electronic, and procedural safeguards in place to protect sensitive data. It also provides helpful tips and guidance about what you can do to maintain your personal security, such as watching out for scams, protecting your login information, and creating a strong password.

Discover’s privacy center provides clarity on what information the bank collects, how it uses and shares it, and what efforts it takes to protect it.

Summary

The Discover Cashback Debit checking account charges no fees and gives you 1% cash back on purchases. (See website for details.) You can access it anywhere using the Discover App, and it gives you access to 60,000+ fee-free ATMs across the country. The account is secure and Discover offers resources to educate you on a variety of financial topics.

Discover® Bank Cashback Debit Checking Discover® Bank Cashback Debit Checking Visit Discover

Methodology

The information was taken from the Discover website, as well as its security center and privacy policy to write this review.

Kale Havervold
Written by
Kale Havervold
Kale Haverold is a freelance writer with over 5 years of experience crafting articles about credit cards, loans, debt, and a raft of other personal finance topics. His work has been featured on Top10.com, BestMoney, Yahoo, Hardbacon, and Loans Canada. Kale’s easy-to-digest, research-driven articles stem from his passion to share knowledge that helps readers make informed financial decisions.
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Trustpilot reviews
See what some customers are saying about Discover® Bank Cashback Debit Checking
Poor • Reviews 247
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Excellent
18%
Great
2%
Average
2%
Poor
2%
Bad
76%
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Daniela De Simone - Kiss
4 weeks ago
I love the customer service
I love the customer service. They are USA based and always willing to listen and resolve any issues.
DM
Draco Malfoy
1 month ago
Great Experience With Discover
I have had the Discover secured card and a Discover Cash back checking Checking Account for a few years now and after a period of showing that I am fiscally responsible they refunded my security deposit for my secured card and raised my limit exponentially. I also get 1% cash back on all of my purchases which may not seem like a lot but if you use your card 100 times a week like I do it adds up quick. Discover has also come to my aid when I have dealt with fraudulent and even questionable unauthorized charges having recently refunded me $102 provisionally even before the issue was fully investigated and or resolved. It is also a huge bonus that discover has exclusively US based customer service available 24 hours a day 7 days a week with very short if any wait times. I have had multiple credit cards and still do and I have had multiple secured credit cards and I still have one and I've had multiple checking and savings accounts over the years. And so far, I have had less hassles with Discover than any of them. And trust me, I'm not one to give out compliments very easily. People and companies have to earn them. They have had very responsive customer service using both their online portal and also by phone with very short response times. I do see all the negative reviews but I truly believe that if there were issues with Discover in the past they have most definitely made an effort to resolve them and earn your trust and business. And no, I don't work for them or anything of the sort. I'm just a commercial parts driver for a fortune 200 company. An average nobody that works and saves hard.
JT
Justin Time
2 months ago
I've used Discover CC for 15+ years and savings account recently.
I've used discover cc for maybe 15 years, and have only used the high interest savings for a month or so. I've never had any issues and customer service is as good as any. I do not have a secured card and that seems to be an issue for many. Their savings rate is currently 4.3%. There are some places higher but research them as many seem to have lots of issues.
Eric
3 months ago
Just opened new savings account to…
Just opened new savings account to start off my 2024 goals, love the interest rate, 4.35% blow chase away
Carolynn Montgomery
5 months ago
I made the decision to open a checking…
I made the decision to open a checking account with Discover about 2 years ago and I couldn't be happier. It is not a brick and mortar bank, but there are zero fees for having an account with this bank. No minimum balance required and no overdraft fines (I've only been over one time). There are tons of ATM's that you can use with no ATM fees, you just open your account online and put in your zip code and it will populate a list. The customer service is outstanding and if you lose your ATM card they will express ship you anew one free of charge. The icing on the cake is you get back 1% of your ATM purchases just like the Discover credit card, only the credit card gives you 3%, I think. Still I get back about $4 to $10 a month that I have transferred to my checking account when I am running low. Sometimes I save it up for a couple of months before cashing it in. You can deposit money from checks through participating ATM's and put cash in your account at Walmart stores financial hub. I am disabled so i receive a check monthly from SSDI and Discover makes those funds available to me three days early. I have absolutely no complaints with this bank. I highly recommend opening a checking account with them. I also get free checks which I use one a month to pay my rent. Great bank, something I never thought I would say,
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