Discover Unveils New Cashback Debit Account: A Checking Account Featuring Cash Rewards, Early Access to Paychecks and No Fees

Cashback Debit to Feature Benefits for Simple, Safe and Cash Back Banking

Discover revitalized the consumer checking landscape this week with the launch of its new, benefits-packed Cashback Debit account with user-friendly features, such as early access to paychecks up to two days in advance1 and a mobile-first banking experience. Discover builds on its Cashback Bonus® rewards and no-fee structure to create an industry-leading checking account that provides customers easier access to their money than ever before.

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Discover Cashback Debit account (Photo: Business Wire)

Discover Cashback Debit account (Photo: Business Wire)

“Our new Cashback Debit account is designed to be the only checking account that a customer will ever need,” said Carlos Minetti, president of consumer banking at Discover. “Our unique Cashback Bonus rewards program makes it easy for people to earn cash back as part of their everyday debit card spending. We’re building on a program that has rewarded millions in cash back to our checking customers since 2017, by adding more industry-leading features and we plan to continue to stack up more benefits throughout the year and beyond.”

Today’s consumers expect bank and checking accounts to be faster and easier to open, simple to manage digitally, with innovative offerings like early access to paychecks, cashback rewards, no fees and security. In fact, 90% of consumers say having no fees is an important checking account feature but only 46% state that their banks offer a no fee checking account, according to Discover research. Similarly, while 72% of consumers said cash back rewards are an important checking account feature, only 28% of people said it’s a feature offered by their current bank.

Discover’s research also found the most important checking account features for consumers are security (85%), free access to ATMs (84%), and 24/7 access to customer service (82%), all of which are offered with the Discover Cashback Debit account.

Discover Cashback Debit offers a suite of industry-leading features and benefits, including:

  • Access to paychecks up to two days in advance with Early Pay1
  • Rewards with 1% cash back on up to $3,000 in debit card purchases each month2
  • No fees across the account, including monthly maintenance, insufficient funds or overdraft3
  • Access to over 60,000 no-fee ATMs in the U.S.
  • Security and fraud management offerings, such as the ability to temporarily freeze your debit card4
  • Easy digital application and onboarding experience, with no impact to credit score
  • 24/7 U.S.-based customer service
  • Mobile wallet access through Apple Pay®2

“While our competitors are now starting to lower their fees, Discover set an example for the industry when it proactively removed all deposit account fees in 2019, saving customers millions,” Minetti said. “The latest evolution of our Cashback Debit checking account aims to help people more easily move and manage their money while making banking more accessible for consumers with an ability to apply in minutes and no fees.”

Discover plans to continue enhancing the Cashback Debit product with additional eWallets, debit card enhancements and tools to help customers manage their credit score.

For more information about Discover Cashback Debit, visit

About the Research

This poll was conducted by Morning Consult on behalf of Discover, from January 29 – January 31, 2022, among a national sample of 2,210 adults. The interviews were conducted online, and the data is weighted to approximate a target sample of adults based on age, educational attainment, gender, race, and region. Results from the full survey have a margin of error of +/- 2%.

About Discover

Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. For more information, visit

1. With Early Pay, we may at our discretion make funds from eligible ACH direct deposits available to you up to 2 days early. This feature is dependent on the timing of our receipt of the direct deposit instructions. See terms and conditions.


2. ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), and loan payments or account funding made with your debit card are not eligible for cash back rewards. In addition, purchases made using third-party payment accounts (services such as Venmo® and PayPal®, who also provide P2P payments) may not be eligible for cash back rewards. Venmo and PayPal are registered trademarks of PayPal, Inc. Apple, the Apple logo and Apple Pay are trademarks of Apple Inc., registered in the US and other countries.


3. Outgoing wire transfers are subject to a service charge. You may be charged a fee by a non-Discover ATM if it is not part of the 60,000+ ATMs in our no-fee network.


4. When you freeze your debit card, Discover will not authorize new purchases, or ATM transactions, with that frozen debit card. See terms and conditions.



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