Discover debuts Cashback for debit card purchases

Discover has launched a new rewards program for its Cashback Checking product that allows customers to earn cash back on everyday debit card purchases.

Discover Cashback Checking customers can earn 1 percent cash back on up to $3,000 in qualifying debit card purchases each month, a company press release said. The program does not include ATM withdrawals, P2P payments or the cash back portion of a purchase at the POS.

"We know customers are looking for something truly different, which is why we created a checking account that not only rewards customers with cash back when they use their own money, but also helps them save by not charging any fees," Arijit Roy, vice president of deposits at Discover, said in the release.

Customers can redeem their Cashback bonus via a credit to their Cashback Checking account or transfer the bonus to a Discover credit card Cashback Bonus account.

In addition to the new rewards structure the product offers:

  • No monthly fees, no minimum opening or balance requirement.
  • No-fee access to more than 60,000 Allpoint and MoneyPass ATMs across the U.S.
  • 24/7 customer service from an entirely U.S.-based customer service team.
  • Secure online and mobile access.
  • No-fee online bill pay.

The Discover Cashback Checking account was previously available only to Discover cardmembers, personal loan customers and deposit account customers, but is now available to all, the release said.

Topics: Bank / Credit Union, Retail / Off-Premises, Transaction Processing

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