Discover Checking Review [2025]: Cashback Rewards With No Monthly Fees

Discover Checking details

Who is the Discover Checking account best for?

A Discover^® Cashback Debit account makes sense if getting rewards from your debit card spending works with the way you manage your finances.

For this checking account, you need to do your spending primarily using a debit card. That means using it to make purchases at stores in person or online. Paying bills, sending money to friends or family, or buying money orders don't count as debit card transactions that earn cash back.

While debit cards are popular, not everyone uses them extensively. Some use credit cards to earn rewards, for example, and if the cashback checking idea appeals to you, a cash back credit card typically offers higher rewards (including many Discover credit cards, like the popular Discover it^® Cash Back).

Not everyone qualifies for credit cards, and not everyone is comfortable doing the bulk of their spending on them. I used debit cards for years due to struggling with keeping credit card debt under control. I just wasn't comfortable using them. If you're someone who prefers using a debit card for day-to-day spending, this card makes a lot of sense.

How much can you earn?

With the Discover Cashback Debit account, you earn 1.00% cash back on up to $3,000 in debit card purchases each month. If you max this out, it comes to $30 per month, or $360 per year. While that's not a life-changing amount of money, it's still free money.

How does that stack up against an account that earns interest? A SoFi® checking account offers an APY of 0.50% (as of 01/24/25) if you meet the qualifications, which include direct deposit.³ <p>SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> You would need to carry a balance of $6,000 to earn $30 of interest in a year on a SoFi® account.

So if you keep high balances in your checking account, you could come out ahead if you went with an account like SoFi®. You shouldn't keep high balances in your checking account, though. You can earn significantly more interest in a high-yield savings account. SoFi's savings account, which is bundled with its checking account, offers an APY of up to 3.80% if you meet qualifications, for example.³ <p>SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p>  SoFi is a member FDIC. ⁴ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

Overall, you can earn up to $360 per year with a Discover checking account, and that will be more than you can earn with most checking accounts, assuming you don't keep a high balance in your checking account.

Online account experience

Discover offers an online portal and an app, and the app has high ratings:

• 4.9 out of 5 rating with over 4.4 million ratings on the Apple App Store
• 4.5 out of 5 rating with over 289,000 ratings and more than 10 million downloads on the Google Play Store

If you have credit cards with Discover, you can manage them through the app as well. You can do all the essential tasks for online banking with the app, including mobile deposits.

A unique feature to Discover's app is assistance with removing your information from certain people-search websites. These sites are known for selling personal information, and it can be difficult to get the information removed on your own. You do need to activate this feature through the mobile app.

Other notable account features

No fees or minimum balance requirements

The Discover checking account has no monthly maintenance fees, insufficient funds fees, expedited debit card replacement fees, or check reorder fees. Keep in mind that some less common fees may still apply. 

While this is helpful, Discover is far from the only checking account with minimal fees these days. Chime®⁵ <p class="">Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC.&nbsp;<br></p> ⁶ <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p> , for example, and SoFi Checking and Savings accounts also have no monthly fees.⁷ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p> In fact, these two financial technology companies (fintechs) are often compared to Discover for this reason and other similarities in features.

Cash deposits

The Add Cash feature allows you to add cash to your checking account at any U.S. Walmart location without any fees. This feature requires a minimum deposit of $20. This is something that sets it apart from other online banks.

SoFi, for example, allows cash deposits through Green Dot, but the retailer charges a fee of $4.95. Ally's Spending Account doesn't accept cash deposits at all.

There are limits to Discover's cash deposits, though. There's a daily limit of $1,000 ($999.99 if you live in Arizona or New Mexico), a weekly limit of $7,000, and a monthly limit of $20,000.

Read more: Online Banking Services That Accept Cash Deposits

Early Pay

With Early Pay, you can access funds from qualifying direct deposits up to two days early when you set up direct deposit for your online checking account. While this is a useful feature, many checking accounts offer early access to paychecks and government benefits. This includes Chime⁸ <p> Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.</p> , which allows you to get a paycheck up to two days early with direct deposit, and SoFi®.⁹ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>

ATM network

Discover provides access to over 60,000 fee-free ATMs throughout the U.S. This is a larger network than other online banking options like SoFi and Ally.

Additional Discover products

If you're someone who values having multiple financial products in one place, Discover does have other offerings. These include:

• Credit cards: This is perhaps what Discover is best known for, and Discover does have a strong line-up.
• Loans: Discover offers personal loans and home loans (including home equity loans and mortgage refinancing).
• Savings account: The Discover^® Online Savings account provides an APY of 3.50%¹⁰ <p>Annual Percentage Yield (APY). Advertised Online Savings Account APY is accurate as of 06/26/25. Applies to personal accounts only. APY may change before or after the account is opened. No minimum deposit to open.</p> (as of 06/26/25) and has no monthly maintenance fees. This could be a good account to open along with Discover's Checking account. In fact, Discover offers an auto redemption feature where you can put the cashback you earn directly into a Discover savings account.
• Certificates of deposit (CDs): Discover provides multiple CD options with varying terms and APY rates. Discover CDs are FDIC-insured.
• Money market accounts*: With a Discover money market account, you get competitive APY rates and no fees for monthly maintenance, insufficient funds, standard checks, or excessive withdrawals.
• Individual retirement accounts (IRAs)*: To help plan for retirement, you can choose a Discover IRA Savings Account or Discover IRA CD. These IRA accounts are available as Roth and traditional IRA accounts.

*Details about these Discover products have been collected by FinanceBuzz editors. This information is accurate as of the date of the review and was not reviewed or approved by the issuer. FinanceBuzz does not receive commission for these products.

How Discover Checking stacks up

Discover vs. Capital One checking

Discover is owned by Capital One, but bank accounts from the two companies are separate. Discover's Cashback Debit checking account differs from Capital One 360 Checking in that it's a rewards checking account that earns cash back. Capital One 360 Checking, on the other hand, doesn't earn cash back at all, but it does offer up to 0.10% (as of 08/05/25) APY. This isn't much compared to a high-yield savings account, but it's more than most checking accounts — including Discover's — offer.

Capital One could be a better fit if you'd prefer earning interest on your balance to rewards on your debit card spending, or if you happen to live near a Capital One branch/cafe and want the option for in-person support. And like Discover, Capital One accepts cash deposits. You may also prefer Capital One's credit cards to Discover's, but this depends on how you like to spend.

Read our full Capital One 360 review | Learn more about Discover vs. Capital One checking

Discover vs. Upgrade Rewards Checking Plus

Upgrade Rewards Checking Plus is a lot more similar to Discover Cashback Debit than Capital One 360 Checking because it also earns cash back. In fact, you can earn up to 2% cash back on common expenses, subscriptions, and recurring transfers with $1,000 minimum monthly direct deposit (up to $500 per year, then earn 1%).¹¹ <p>Rewards Checking Plus customers who set up monthly direct deposits of $1,000 or more earn 2% cash back on common everyday expenses at convenience stores, drugstores, restaurants and bars - including deliveries - and gas stations, as well as recurring payments on utilities and monthly subscriptions including phone, cable, TV and other streaming services, and 1% cash back on all other debit card purchases. 2% cash back is limited to $500 in rewards per calendar year; after $500, customers earn 1% cash back on all eligible debit card purchases for the remainder of the year. Rewards Checking Plus accounts with less than $1,000 in monthly direct deposits 60 days after account opening will earn 1% cash back on common everyday expenses and 0.50% cash back on all other eligible debit card purchases. Some limitations apply. Please refer to the applicable Upgrade VISA® Debit Card Agreement and Disclosures for more information.</p> Earning 1% cash back on everything would make this account tie with Discover Cashback Debit, but you could potentially earn more with the boosted 2% rate, regardless of the annual limit and earning limitations.

Upgrade Rewards Checking Plus lacks some features you might like about Discover checking, including the ability to make cash deposits, but we'd argue that it definitely has more in common with the popular rewards account than not. If you pay for any of your recurring bills or subscriptions with your checking account, seriously consider this account instead of Discover.

Visit Upgrade | Read our full Upgrade Rewards Checking Plus review

Featured Checking Accounts

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2025 award winner Best Checking and Savings Combo

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Limited-Time Offer: Earn up to a $300 bonus and up to 4.50% APY on Savings (3.80% APY¹² <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement.&nbsp;Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.¹³ <p>Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking &amp; Savings account and enroll in SoFi Plus by 9/3/25. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member&nbsp;FDIC.</p> FDIC Insured.⁴ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

Learn More

FAQ

Bottom line

Discover Checking stands out from other options because there aren't any requirements to avoid or waive fees, plus you can earn 1.00% cash back on up to $3,000 in debit card purchases each month, which comes to $30 per month or $360 if you max out this benefit.

But if the Discover Cashback Debit account doesn't seem like the right fit for you, check out our recommendations for the best banks.

Reach Your Savings Goals Faster

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FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2025 award winner Best Checking and Savings Combo

SoFi Checking and Savings Benefits

• Limited-Time Offer: Earn up to a $300 bonus and up to 4.50% APY on Savings (3.80% APY¹² <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement.&nbsp;Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.¹³ <p>Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking &amp; Savings account and enroll in SoFi Plus by 9/3/25. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member&nbsp;FDIC.</p>
• No account, overdraft, or monthly fees⁷ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
• Get your paycheck up to two days early⁹ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>
• Access additional FDIC insurance up to $3 million⁴ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

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