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Get 10 Cents Cash Back For Each Transaction – Discover Bank: $50 Sign-Up Bonus

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We know it’s possible to get cash back each time we pay with a credit card. What about when you pay off those credit cards? Now with cash back checking from Discover, you can get money for using your debit card, writing checks or making online payments. Sign-up before April 1st and get a $50 sign-up bonus.

What Is Cash Back Checking?

Discover just recently came out with a cash back checking account that will pay you for each transaction. There is no monthly fee for opening the account and only requires a minimum amount of $25 dollars to open the account.

The amount of money you get per transaction depends on the amount, but generally it’s $.10 cents. For extremely small transactions, it may be as little as $.05 cents. Usually to qualify for $.05 cents cash back your purchase amount has to be under $1.00.

While it may not seem like a huge amount, we are more likely than not making a lot of transactions on a monthly basis. Cash back checking will pay you 10 cents for a maximum of 100 transactions monthly.

Since it’s something you’re doing on a regular basis, you are essentially getting paid for something you already do without any extra work. What a great way to earn a maximum of $10.00 extra per month.

There are three ways to receive payments:

1. Making an online payment. This includes either using your Discover bank account directly to pay something off or paying off your credit card. I recommend first using a cash back credit card and then using the checking account to pay off the card. This way you can maximize your cash back. The Double Cash Back Citi Card has one of the best rates, give you 2% cash back on each purchase with no limit.

2. Writing a check. Each time someone cashes out one of your checks, you’ll receive another 10 cents. Best part of all is that checks are FREE! Most banks will charge you a fee for ordering checks, but not Discover.

3. Using your debit card. By signing-up for cash back checking with Discover, you’ll automatically be sent a debit card. You can use this debit card to get 10 cents back for each purchase.

10 cents cash back discover banking

Again, it’s best to use a cash back credit card instead, since most of the time you’re going to get over 10 cents anyways. It would only be worth it if you made a small purchase and received the 10 cents. But for larger purchases, a cash back credit card would yield a lot more money.

How Do I Sign-Up And What Are The Requirements?

There are certain requirements that must be met in order for you to qualify for cash back checking.

1. Get a Discover card. Before you can qualify for Discover’s cash back checking, you must already be a current Discover Card User.

If you don’t have a card already, we recommend the Discover IT card:

discover It CardApply Now

  • No annual fee
  • Get $150 sign-up bonus after spending $750 within the first three days of opening your account with the Discover It Card
  • Receive 5% cash back on categories that rotate quarterly: gas, restaurants, home improvement stores, theme parks and movies.
  • All other purchases receive a 1% cash back bonus
  • Each monthly statement has a free credit score from FICO to help you keep track of your credit
  • Points can be redeemed for gift cards using their Partner Gift Cards, saving anywhere from 10% – 50%
  • Browse the online Discover Mall to get discounts from retailers at anywhere from 5% to 20%

If you want to qualify for the $50 bonus for signing-up for cash back checking, go ahead and apply online and then call them at 1-800-DISCOVER. Just mention that you just recently applied for a credit card and want to sign-up for cash back checking as well. This should help you get that extra $50.

2. If you already have a Discover Card, go to their Cashback Checking Account Page and click “Open An Account.”

3. From there you’re going to be asked to enter some personal information.

This is a bank, so you are required to enter your social security number and annual income. Don’t worry about not getting approved; this is much easier than applying for credit.

Why Discover Banking?

I thought the ten cents per each transaction with a $50 bonus was enough to pull me to Discover banking, but I found some other incredible benefits as well.


Free Checks. As mentioned above, most banks will charge you as much as $20 each time you order a group of checks. Discover checking gives them to you for free. Chase, for example, will charge you $8 for each order.

Free Checking. There are no maintenance fees. No matter the amount in your account, you will never be charged any hidden fees. There’s only a $25 minimum to open the account.

Free ATM Fees. Chase, for example, charges you $2.00 each time you use the ATM. Not Discover. With over 60,000 ATM’s available, it won’t be too hard to find one that will take your Discover Debit Card.

Maximum Number Of Insufficient Fund Fees Only 1x Per Day. If for some reason you go over the balance in your bank account, Discover will charge you a fee of $30, but only once per day if you happen to go over twice. Other banks will charge you as much as 3 times per day.

Free Expedited Delivery For Stolen Cards. If your card is lost or stolen, Discover will expedite it to your house given you a new one within a few days at no cost.



I’m completely switching to Discover Cash Back Checking. I might as well get paid for something I already use, and that $50 sign-up bonus could really help.

Banks are becoming more and more competitive with each other in order to attract clients, so make sure to check back at Frugal For Less for the latest updates. If there are any questions, please feel free to leave them in the comments below. Thanks for reading!

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