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Saturday, June 22, 2024

7 Things to Know About the Discover Debit Card (Feb. 2024)

Discover Debit Card
Eric Bank

Written by: Eric Bank

Eric Bank
Eric Bank

Eric Bank is an M.B.A. who has covered financial and business topics since 1985, appearing regularly on Credible, eHow, WiseBread, The Nest, Zacks, Chron, BadCredit.org and dozens of other outlets. Eric specializes in taking complex subject matters and explaining them in simple terms for consumer audiences, particularly in the world of personal finance. Eric holds a Master's in Business Administration from New York University and a Master's in Finance from DePaul University.

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Edited by: Jon McDonald

Jon McDonald
Jon McDonald

Jon leverages 15-plus years of journalism expertise to inform financial consumers about emerging trends and companies making an impact in the industry. He is most knowledgeable in the areas of budgeting, credit card rewards, and responsible credit use. Jon has a passion for writing and editing, and his articles have appeared in publications produced by The New York Times.

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Reviewed by: Ashley Fricker

Ashley Fricker
Ashley Fricker

Ashley Fricker has more than a decade of experience as a finance contributor and editor, and has specialized in the credit card industry since 2015. Her credit card commentary is featured on national media outlets that include CNBC, MarketWatch, Investopedia, and Reader's Digest, among many others. She has worked closely with the world’s largest banks and financial institutions, up-and-coming fintech companies, and press and news outlets to curate comprehensive content and media. Ashley holds a bachelor's degree in multimedia journalism from Florida Atlantic University.

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Advertiser Disclosure

Discover® is renowned for its high-value, low-cost financial products, and the Discover® Cashback Debit is a leading example. The card caters to consumers who’d rather bank online than at a brick-and-mortar branch. 

The card offers cash back rewards without fees or minimums, and you don’t need a credit history to get one. If all that works for you, keep reading to learn about the Discover® Cashback Debit‘s key features and terms.

1. It is a Full-Fledged Checking Account

You get the Discover® Cashback Debit when you open an online checking account with Discover Financial Services. The account allows you to check your balance, deposit a check, transfer funds, and authorize payments from your mobile device, tablet, or desktop. Customers can access more than 60,000 no-fee ATMs at stores throughout the country.

Opening an account is simple. The online application collects some basic information, such as your address, date of birth, phone number, and Social Security number. You can make an immediate deposit or wait until later, whichever is more convenient. You’ll receive an email confirming your account is open and active. 

Discover® Cashback Debit Review

at the issuer’ssecure website

EXPERT’S RATING

★★★★★

4.9

OVERALL RATING

  • Cashback – Earn 1% cash back on up to $3,000 in debit card purchases each month
  • No. Fees. Period. That means you won’t be charged an account fee on our Cashback Debit account.
  • Early Pay – Get your paycheck up to two days early with no charge
  • No Credit Impact – You can apply without affecting your credit score.
  • Fraud Protection – You’re never responsible for unauthorized debit card purchases. If you suspect someone else has used your debit card without your permission, let us know.
  • Member FDIC
  • Fee-free overdraft protection
  • No minimum opening deposit and no minimum balance
  • Add cash into your account at Walmart stores nationwide
  • Cash access at over 60,000 no-fee ATMs nationwide
  • 100% US-based customer service available 24/7
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A
$0
No Credit Needed

The Discover® Cashback Debit should arrive in the mail within 10 days, along with paper checks (if requested). Contact Discover Financial Services to activate your card and set up a Personal Identification Number (PIN) that allows you to use the card without a signature.

2. You Earn Cash Back Rewards on Every Purchase (Up to the Limit)

The account lets you earn 1% cash back on up to $3,000 in monthly debit card purchases. That means you can collect up to $360 in cash back rewards annually.

Discover automatically deposits the cash back into your Discover® Checking Account or Discover® Online Savings Account, but you can also use the money to get a gift card from Discover. The minimum gift card amount is $5.

Discover cash back details
Cardholders can earn cash back on a variety of purchases.

Items not eligible for cash back rewards include 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 Cash), online sports betting and internet gambling transactions, and loan payments or account funding from your debit card.

3. The Card Has No Fees or Minimums

The Discover® Checking Account doesn’t charge any fees to open or use. Furthermore, there are no minimum deposits or balances, and you receive optional overdraft protection at no cost.

Outgoing wire transfers from your Discover® Online Bank account are subject to a service charge. You may face a fee from a non-Discover ATM if it is not part of the 60,000-plus machines in the account’s no-fee network.

4. You Can Manage Your Cash in Several Ways

The Discover® Cashback Debit allows you to manage your cash flexibly. You can deposit funds to your account in the following ways:

  • Online transfer: You can transfer money from an external bank account to your Discover® Cashback Debit.
  • Direct deposit: The routing number for Discover® Bank is 031100649. You can deposit the money into your Discover online savings, checking, or money market account. Early Pay is a free service from Discover that gives you access to funds from qualifying Automated Clearing House (ACH) direct deposits up to two days early. Keep in mind that early access depends on when the entity, typically the government or a business, informs Discover that your deposit is on the way.
  • The mobile app: Deposit a check payable to you with Discover’s Mobile Check Deposit Service using your mobile device. 
  • Snail mail: Mail a check made out to you with your account number on the memo line to:

Discover® Bank
PO Box 30417
Salt Lake City, UT 84130

You can transfer deposited funds to other Discover and non-Discover accounts or spend your cash using the debit card (or paper checks). Simply swipe the card and enter your PIN on a keypad at the checkout terminal. You can make purchases online by entering the card number, expiration date, and security code.

Withdraw money from your account for free at any in-network ATM or by requesting a cash advance at stores that offer the option. You can get an in-store advance by paying a sum larger than the amount due and receiving the surplus in cash.

The Discover card offers optional overdraft protection, enabling you to designate a single funding account for automatic transfers to cover a cash shortage in your debit account. The online bank may pay or return items that exceed the funds available in your checking and funding accounts. The overdraft service is free.

5. The Card’s App Is Top-Rated 

The Discover Mobile Banking App allows you to manage your banking needs anytime, anywhere. Download it from the Apple Store, Google Play, or by texting “APP” to 20877 on your phone. The app offers many features, including:

  • Account and activity alerts: Set up and manage mobile alerts to track your balance, deposits, rewards, and other account data.
  • Mobile check deposit: Deposit checks anytime, anywhere. Simply snap a photo, upload it, and the bank will deposit your check.
  • ATM finder: Find an ATM and withdraw cash whenever you need it. With more than 60,000 no-fee ATMs in the United States, you’re seldom far from an in-network machine.
  • Online bill pay: Consolidate your bills into an easy-to-manage, secure hub and set up automatic payments to help ensure you pay them on time.
  • Mobile transfers: Transfer money between your bank accounts seamlessly — whether a Discover account or an external personal account. Transfers between Discover deposit accounts are instant, but those to or from other banks may require four to five business days to process. 
  • Zelle cash transfers: Zelle is a quick and straightforward way to get money directly to and from friends and family with US bank accounts. It’s easy to set up and free to use with the Discover app. Transactions between enrolled consumers typically occur in minutes. Zelle requires a US-based bank account and a US mobile number or email address. Your registered Discover® Online Savings Account, Discover® Checking Account, or Discover® Money Market Account must be open for at least 90 days to use Zelle with Discover.
  • Card freeze: Temporarily freeze your debit card to prevent any new debit card purchases and ATM transactions. You can unfreeze your debit card at any time.
  • Wearable tech compatibility: The Discover App works on various wearable devices, so you’re always in touch with your balance and account activity.

Mobile app access to your account is fast and secure: Log in using Touch ID, Face ID, or a four-digit passcode, or use Quick View to check your account balance without logging in.

6. Discover Protects Your Security

Any financial advisor will tell you to keep your money secure. The Discover® Cashback Debit offers several security features your financial advisor would approve of.

Account Alerts

You can set up and manage account alerts to oversee your account in real-time. You may choose how to receive alerts — by email, text, and/or push notification. The alerts help you monitor:

  • Account balances and activity
  • Large withdrawals
  • Changes to your login or contact information

You can start or stop alerts anytime by changing your preferences on the mobile app or online.

Freeze it®

This feature is an on/off switch for your debit card. Freeze it® will prevent new purchases and ATM transactions if you temporarily misplace your debit card or suspect fraudulent activity on your account. You can activate and deactivate Freeze it® in seconds via the mobile app, online, or over the phone.

When you activate the Freeze it® feature on your debit card, Discover will prevent new purchases and ATM transactions with your debit card.

Most other account activity will continue as usual, including previously scheduled and recurring transactions, internal and external transfers, deposits, online bill payments, returns, credits, dispute adjustments, cash back bonus reward redemptions, and processed checks.

Touch or Face ID

Log in securely with your unique fingerprint or facial features. If your device supports these features, you can enable Touch or Face ID to log into your account via the mobile app. You can always access your account with your passcode or password.

Contactless Card Technology

Discover debit cards have an embedded chip to help prevent cloning. You can insert the chip in a card reader to pay with the card. Or, if the reader supports contactless card technology, you can securely tap to pay. 

You must enter your PIN to complete an in-person transaction. It’s critical to keep your PIN safe, so don’t maintain a record of your PIN in the same place as your actual physical debit card. Avoid giving your PIN to others. Consider changing your PIN at least yearly to keep it secure.

Fraud Protection

The debit card’s $0 Fraud Liability Guarantee means you’re never responsible for unauthorized purchases.

Discover fraud protection
Discover employs numerous methods to combat fraud.

In fact, when Discover suspects that a transaction may be fraudulent, it sends customers a text or calls them to inquire about it. You can always contact Discover if you’re suspicious of any transactions.

7. You Can’t Build Credit With the Card

The Discover® Cashback Debit cannot help you improve your credit score because it doesn’t grant you credit. On the plus side, you can get the card even if you have no, limited, or bad credit.

But Discover has you covered if building credit is a priority. Check out the Discover it® Secured Credit Card, which is easy to acquire and lets you build credit through timely payments. You can make a deposit to obtain a credit line in the same amount.

Discover it® Secured Credit Card Review

at Discover Card’ssecure website

SECURED RATING

★★★★★

4.7

OVERALL RATING

  • No credit score required to apply.
  • No Annual Fee, earn cash back, and build your credit history.
  • Your secured credit card requires a refundable security deposit, and your credit line will equal your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.
  • Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
  • Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites. Activate for free.
  • Terms and conditions apply.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
10.99% Intro APR for 6 months
28.24% Variable APR
$0
New/Rebuilding

The Discover Debit Card Is First-Rate

We conclude that the Discover® Cashback Debit should be on your shortlist when you shop for an online banking account. The account is free. In fact, it’s better than free because it could pay you up to $360 annually just for using the card. 

The card offers excellent security and convenience features, and Discover’s customer support almost always receives high marks. If you’re exhausted with the fees and hassles associated with traditional banks, it may be time to open a low-cost online checking account. You can’t go wrong with the one from Discover.

Advertiser Disclosure

CardRates.com is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free, we receive compensation for referrals for many of the offers listed on the site. Along with key review factors, this compensation may impact how and where products appear across CardRates.com (including, for example, the order in which they appear). CardRates.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.