Discover® Bank, member FDIC, has a cool twist on the old-fashioned debit card: cash back rewards. Open an account online, and they'll give you 1% cash back on up to $3,000 in debit card purchases each month, for up to $360 each year as a bonus to your normal spending. See website for details.
How To Earn The Bonus
The Discover® Cashback Checking promotion requires you to make purchases using the account's card in order to earn the up to $360 bonus (step-by-step breakdown is listed above!).
As with any offer, don't forget to read the fine print before opening your new account. It's where the bank will clearly state who is eligible for the deal along with any nuances you'll want to be aware of.
The fine print
- ATM transactions, cash equivalents like money orders, cash back on 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.
- Purchases made using third-party payment accounts (services such as Venmo® and PayPal®) may also not be eligible for cash back rewards.
- See website for details.
Open a Discover® Cashback Checking account before the bonus expires
How does this personal checking offer from Discover compare?
To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:
TD Bank
Beyond Checking
- Bonus
- $300
- Account Type
- Personal Checking
- Expires In
- 46 days
- Requires
- Direct Deposit
BMO
Smart Advantage Checking Account
- Bonus
- $300
- Account Type
- Personal Checking
- Expires In
- 79 days
- Requires
- Direct Deposit
Fifth Third Bank
Personal Checking
- Bonus
- $300
- Account Type
- Personal Checking
- Expires In
- 45 days
- Requires
- Direct Deposit
Why Discover Bank?
Discover® Bank, member FDIC, is an online bank operated by the American financial services company, Discover Financial Services.
With almost 50 million cardholders, Discover is the third-largest credit card issuer in the U.S. In 2000, Discover acquired the Greenwood Trust Company and rebranded it as Discover® Bank. While Discover is now fully an online bank, the company still owns and operates the original branch of The Greenwood Trust Company in Delaware, making it the bank’s only physical location.
Discover doesn't offer quite as many new customer incentives as some of the other big banks, but there's still free cash up for grabs. Plus, these bonuses are in addition to no monthly fees, high yields, and overall top-rated customer satisfaction.
Learn more in our Discover Bank review
Discover® Cashback Checking
Many confuse Discover as being just a credit card company, but they actually offer a host of banking products as well, including this checking account that puts a credit card spin on a traditional debit card: cash back rewards.
With this account, Discover will give you 1% cash back on up to $3,000 in debit card purchases each month, up to $360 each year (see website for details). In addition, the account comes with absolutely none of the typical fees: monthly maintenance, insufficient funds, stop payment, check orders, or replacement debit cards.
Fees
Discover® Cashback Checking does not charge a monthly maintenance fee.
Apply now for a Discover® Cashback Checking account to earn the up to $360 bonus offer
Share Your Thoughts or Questions
There have been 18 comments about the Discover® Cashback Checking up to $360 Bonus.
Larry Nagel
September 22Not really worth it. Violated my own rules and did fully read the details. To get the full $360 you would need to spend $36,000 in twelve months This ROI is a meager 1%.. I normally require at least a 20% ROI to participate in a promotion. This is not it. Plenty of other debit card offers better than this. See Citizens offer than gives you $300 for opening the account and then $2 for each debit transaction up to $100 - total of $400.
ReplyReply to Larry Nagel
Evan Cooper
September 2Can’t get a limit increase after 5 years perfect payments
ReplyReply to Evan Cooper
Ankit Jain
November 16, 2023Discover has a better savings account offer of $150/$400 but is a once in lifetime offer. This checking offer is not the best one but could be beneficial for some.
ReplyReply to Ankit Jain
Carmen Cipolla
December 5, 2023 Replying to Ankit JainDoes discover still offer this? I currently have a debit card through them so I'm interested.
ReplyReply to Carmen Cipolla
Jake
November 16, 2023Discover has a good Savings Account Bonus. I would go with that instead of this bonus due to the high spending requirement. If you want to be rewarded for spending, try the Chase Credit Card suite of options. You can can get great travel discounts there and a high reward rate.
ReplyReply to Jake
John
November 15, 2023As others have said, doesn't really seem worth it if you have a credit card that gives you better rewards.
ReplyReply to John
Michael
December 12, 2023 Replying to BenThe website says banking bonuses, no where does it say sign up bonuses only. This is a banking bonus. I don't see how it's misleading to be here. The page is titled "Best Bank Bonuses and Promotions of December 2023" not Best Bank Sign Up Bonuses
ReplyReply to Michael
Jon Snow
November 15, 2023This is a nice cashback offer for those that use debit cards.
ReplyReply to Jon Snow
Lee Shaw
November 11, 2023My Discover Bank Cashback Debit account has allowed me to earn a fair amount of cash back in the short period of time I've had my account open.
ReplyReply to Lee Shaw
Nicholas
November 3, 2023This bonus doesn’t really seem worth it to me if I’m understanding it correctly. It’s basically just 1% cash back on debit card transactions; you can do better than that with any credit card. Maybe it’s good if there’s a place you can only use a debit card to pay with?
ReplyReply to Nicholas
Angela Matthews
September 23 Replying to NicholasAs it states in the description info, it basically is still giving cash back options to those that prefer to go creditcardless (which I have a few friends that are adamant about going credit cardless: 2 that are almost 50 and had gone without debit for an extended period of time for one reason or another and they're just now getting a debit card again) but also those that are unable to obtain credit cards whether by choice or circumstance, in addition to the couple people that mentioned certain merchants that I guess are no longer allowing credit credit card use for auto pays and whatever other reason.
ReplyReply to Angela Matthews
Larry Nagel
September 28 Replying to Angela MatthewsIf you really prefer a debit card rather than credit and are in the right geography consider the Citizens offer I outlined above.
ReplyReply to Larry Nagel
mjonis
November 14, 2023 Replying to NicholasYes, I'd agree with you that if you can't use a credit card, it's an OK deal. Verizon and T-Mobile are two entities that no longer offer their auto-pay discounts if you use a credit card. (thus, your bill could be $10-20/month more if you don't use a DEBIT card).
ReplyReply to mjonis
Avraham Kranczer
November 3, 2023I just opened this account for a bonus and I was happy how easy they merged accounts with my existing Discover credit card
ReplyReply to Avraham Kranczer
Dylan Walter
November 3, 2023Such a great bonus!! Bank Bonus has helped me find so many great offers.
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