Digital Banking

Discover intros Balance+ overdraft protection for debit card

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July 16, 2024

Discover introduced Balance+ for its Cashback Debit Checking, which provides overdraft protection for debit card purchases. With this feature, customers can overdraw their accounts up to $200 with no fees, according to a press release.

To qualify, customers must have an account with a balance greater than $0 and have direct deposit of $200 or more per month for the last two calendar months. Discover also offers Overdraft Protection, which covers checks, online bill payments and ACH transfers. Customers can enroll in both Overdraft Protection and Balance+.

"With Balance+ we are giving our customers peace of mind that Discover has their back when they use their debit card for their everyday necessities," Ram Subramanian, VP and CMO of Discover Bank, said in the release. "This is a natural extension of our commitment of offering the most rewarding banking experience without having to worry if you make a mistake."