Discover Cashback Debit Review

1% debit cash back for existing customers; closed to new applicants since the Capital One acquisition.

By Michael Hewitt, Founder & Editor-in-Chief.

Our verdict

This review is for people who already hold the account: Discover stopped taking new applicants in January 2026, after Capital One acquired it. Existing accounts keep 1% cash back on up to $3,000 a month in debit purchases, capped at $30 a month, with no monthly, overdraft or insufficient funds fees. For current holders, that's why it still rates well.

Skip it if you don't already have the account, because new applications are closed.

About Discover Cashback Debit

1% debit cash back for existing customers; closed to new applicants since the Capital One acquisition. Discover Cashback Debit is offered by Discover Bank. Our editorial rating is 4.6 out of 5.

Best for: Existing Discover customers keeping their legacy account.

Editorial grade: A (composite score 92/100).

Highlights

Closed to new applicants since January 2026 (Capital One acquisition); existing accounts keep their terms
1% cash back on up to $3,000/month in qualifying debit purchases (existing customers)
No monthly, overdraft, or insufficient funds fees
60,000+ fee-free ATMs (Allpoint + MoneyPass networks)

What we like

One of the only checking accounts with debit cash back (for existing customers)
No overdraft or insufficient funds fees
Award-winning 24/7 U.S.-based service

Where it falls short

No longer accepting new applications; Discover routes new banking customers to Capital One
Cash back capped at $30/month
No physical branches

Fees, minimums, and rates

Not open to new applicants. Discover stopped opening new checking accounts in January 2026, after Capital One acquired it; new applicants are sent to Capital One. This review stays up for existing account holders, whose cash back and fee terms are described below.

Monthly fee: $0/month. Minimum to open: $0. Rates and promotional offers change often, so check the provider's own page before you apply.

How we reviewed it

This is a desk review: we have not opened an account with Discover Bank. It is built from Discover Bank's published rates, fee schedule and terms and from the public complaint record, and compared with the other products in the Checking shortlist. Our bank-account reviews weight APY (30%), fees (20%), access and convenience (15%), account features (15%), trust and safety (10%), and customer support (10%). The rubric is the same for every brand.

Similar products to compare

Read our full editorial methodology for how we review products.