Checking Account - No Fees with Cashback Debit | Discover (2024)

FAQs

Is a cashback debit account a checking account? ›

The 1 percent cash back feature of the Discover Cashback Debit online checking account is a significant advantage for this account. Some consumers, however, may prefer to reap rewards with credit cards that offer travel rewards or even more than 1 percent cash back.

We found that Axos Bank, Discover, PenFed Credit Union, nbkc and EverBank are the best banks with no fees. They all offer some of the top no-fee checking accounts. However, some may carry stop payment, overdraft or wire transfer fees.

Cash-back debit cards can be a lucrative option. These cards earn cash rewards on eligible purchases, so you can pay yourself back when you spend. There are several important factors to think about when choosing a cash-back debit card, including rewards rates, spending categories, other benefits and fees.

If you use an in-network ATM to withdraw cash with your debit card, the transaction will be free. If you're in a pinch and use an out-of-network ATM, you'll likely get hit with a transaction fee from both your bank and the ATM provider.

That's why Chime offers a checking account with no minimum balance fees and no monthly fees.

The HSBC Debit Card does not have an annual card fee. You can create your HSBC Bank Card password from HSBC Telephone Banking 0850 211 0 111, Mobile Banking or from HSBC Retail Internet Banking. Click for the transactions you can perform on HSBC ATMs with your HSBC Debit Card.

Switch to a No-Fee Checking Account

If you're open to switching banks, there are plenty of no-free checking accounts. These accounts charge no monthly maintenance fees and often have no minimum deposit or balance requirements. On top of that, many of them don't charge overdraft or ATM fees either.

With IDFC FIRST Bank, you pay zero charges on all commonly used Savings Account services. You may not realize it, but over time, these add up to a lot of savings for our customers. We don't charge you, even when you are not looking.

There are several stores that offer a free cash-back service any time you pay with your ATM card - among them Staples, Rite-Aid, Walgreens, Whole Foods and Best Buy. So you might want to pop in and pick up a some blank CDs or packs of gum.

Most commonly, it's a credit card benefit that refunds the cardholder a small percentage of the amount spent on each purchase above a certain dollar threshold. Cash back also describes a debit card transaction in which cardholders receive cash when they make a purchase—generally, a small amount above the item cost.

Is a debit account a checking account? ›

Checking accounts and debit cards often go hand in hand but, while they're closely related, they're not the same thing. A checking account acts as a financial hub, allowing you to deposit, store, and withdraw funds, while a debit card is a tool that provides convenient access to deposited funds.

Cashback is a rewards program where customers can earn back a percentage of the money they spend while shopping. Originally a credit card feature, some debit card accounts now offer cashback rewards too, as well as stores, online retailers, and more. Open bank account.

Several cash management accounts offer the same services as a checking account, like access to a checkbook, ATM cards and online and mobile account management. On the surface, there's not much difference between these cash management accounts and a checking account. Enhanced connectivity.