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Best cashback debit cards

The best debit rewards cards pay you for using your own money.

The best cashback debit cards give you fun perks like cash or points when you use your debit card for everyday purchases. And the best-of-the-best rewards checking accounts have no monthly fees and easy ways to enroll in the cashback program. Unlike a cashback credit card, debit cards don’t charge interest, so you can take full advantage of the rewards without worrying about APR or repaying a balance.

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10 best cashback debit cards

Explore the best rewards checking accounts by comparing their features, pros and cons.

Best overall for earning cash back

Varo

4.8
★★★★★

Finder score

Existing and new customers get a $25 referral bonus when signing up for a Varo Bank account. T&C apply.
Go to site Read review
Fee$0 per month
Minimum deposit to open$0

Best hybrid account

SoFi Checking and Savings

4.5
★★★★★

Finder score

Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until December 31, 2024.
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on SoFi's secure site
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APYUp to 4.50%
Fee$0 per month
Minimum deposit to open$0
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus when they set up Direct Deposit of at least $1,000 during the Direct Deposit Bonus Period. Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/24. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Direct Deposit can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.50% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 8/27/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

Our account fee policy is subject to change at any time.

SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms
See list of participating banks at SoFi.com/banking/fdic/receivingbanks


We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

Best for everyday spending

Upgrade Rewards Checking Plus

4.3
★★★★★

Finder score

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on Upgrade's secure site
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Fee$0 per month
Minimum deposit to open$0
Rewards Checking Plus customers who set up monthly direct deposits of $1,000 or more earn 2% cash back on common everyday expenses at convenience stores, drugstores, restaurants and bars - including deliveries - and gas stations, as well as recurring payments on utilities and monthly subscriptions including phone, cable, TV and other streaming services, and 1% cash back on all other debit card purchases. 2% cash back is limited to $500 in rewards per calendar year; after $500, customers earn 1% cash back on all eligible debit card purchases for the remainder of the year. Rewards Checking Plus accounts with less than $1,000 in monthly direct deposits 60 days after account opening will earn 1% cash back on common everyday expenses and 0.50% cash back on all other eligible debit card purchases. Some limitations apply. Please refer to the applicable Upgrade Visa® Debit Card Agreement and Disclosures for more information.

Upgrade is a financial technology company, not a bank.  Rewards Checking services provided by Cross River Bank, Member FDIC.  Upgrade Visa ® Debit Cards issued by Cross River Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

Best for big spenders

Discover® Cashback Debit

4.8
★★★★★

Finder score

Go to site Read review
Fee$0 per month
Minimum deposit to open$0
Earn 1% cash back on up to $3,000 in debit card purchases each month. See website for details.

Best for building a savings

One Cash

4.8
★★★★★

Finder score

Earn 10% cash back at Walmart, up to $20, on your first purchase. Limited time offer. Get 3% cash back on future purchases up to an additional $50 a year with eligible deposits.
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on One's secure site
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APYUp to 5.00%
Fee$0 per month
Minimum deposit to open$0
One is a financial technology company, not a bank. Banking services provided by Coastal Community Bank, Member FDIC.
Debit card rewards:
● Earn 10% cash back at Walmart, up to $20, on your first purchase. Limited time offer¹
● Get 3% cash back on future purchases, up to an additional $50 every year, with eligible deposits²
● Earn up to 5% cash back on select brands³
Early Pay: Get paid up to 2 days early. Direct deposit may be available up to 2 days in advance, but depends on when your employer sends paycheck data.
5.00% APY on Savings with eligible deposits: 5.00% annual percentage yield (APY) applies to the total Savings balance of customers who either (i) received $500 or more of eligible direct deposits in the previous month or (ii) have a total daily account balance of $5,000 or more. Customers can also earn 5.00% APY on Pay Autosave balances without these deposit or balance requirements. In all instances 5.00% APY is limited to a total Savings balance of up to $250,000. All
other Savings balances will earn 1.00% APY. APYs are as of 4/17/2024, but may change at any time before or after account opening.
ATM: Allpoint Network ATM transactions are fee-free for accounts with eligible direct deposits totaling at least $500 in the previous month. For all other ATM transactions the One ATM Fee will apply and third-party ATM fees may be incurred.
¹Only available to consumers who open an account through Walmart.com, the Walmart app, one.app, or the One app from 8/8/24 - 10/31/24. Terms apply.
²To receive 3% cash back, eligible customers (at the time their purchase settles) must (i) have received $500 or more of eligible direct deposits in the previous month, or (ii) have a total account balance of $5,000 or more. 3% cash back is limited to up to $50 per year and applies only to purchases made at U.S. Walmart locations and on Walmart.com. This promotion may not be combined with other One promotions that offer cash back on purchases at Walmart. Terms apply.
³Cash back can be earned through the Debit Rewards Program. Individual offer details can be found in the One app. Terms apply.

Best for businesses

Grasshopper Business Checking

4.5
★★★★★

Finder score

Go to site Read review
APYUp to 2.25%
Fee$0 per month
Minimum deposit to open$100

Best for ATM reimbursements

Axos Bank CashBack Checking

4.5
★★★★★

Finder score

Fee$0 per month
Minimum deposit to open$0

Best for credit unions

PSECU checking account

4.4
★★★★★

Finder score

Earn up to $300: $100 when you get a savings and checking account and activate your debit card with digital banking within 30 days. $100 with monthly payroll direct deposit of $200+ within 90 days. $100 when you maintain direct deposits for an additional 90 days.
APY0.20%
Fee$0 per month
Minimum deposit to open$0

Best for earning interest

MUST READ: New account creation paused
Juno is experiencing issues with its banking service provider, and has paused new account creation for the time being.

Finder Award Juno

4.8
★★★★★

Finder score

Spend with the Juno debit card and earn 5% back on your favorite brands. Be it shopping on Amazon or ordering with Doordash, you decide.
Read review
APYUp to 5.00%
Fee$0 per month
Minimum deposit to open$0

Best for eco-friendly checking

Aspiration Spend & Save Account

4.2
★★★★★

Finder score

Read review
APYUp to 3.00%
FeeFrom $0 per month
Minimum deposit to open$10

Methodology

Finder’s banking experts research over 155 checking accounts to narrow down and find the best 10 reward checking accounts. When choosing accounts, we consider the average American’s spending — which is reported to be around $5,000 per month — to calculate the best value for cashback rewards. We also factor in these account requirements:

  • No monthly fees
  • Minimum opening deposits under $100
  • Existence of a rewards program
  • High cashback cap of at least $40 per month
  • At least 1% in cashback rewards
  • Few or simple requirements to qualify for the rewards program, such as:
    • Setting up direct deposits
    • No required number of transactions
    • Low average balance requirement under $1,500

What is a cashback debit card?

A cashback debit card lets you earn cash back on purchases. This means you’re technically getting a discount on purchases, often between 1% to 5%. For example, if you have a debit card that earns 5% cash back and you spend $100, you would get $5 back. Usually, cashback debit cards deposit the earnings right into your rewards checking account.

Most cashback debit cards limit where you earn cash back, similar to many rewards credit cards. For example, you may get 3% cash back on groceries, 2% on rideshares, and 1% on everything else. You may also be limited in how much cash back you earn each month, such as Varo’s card, which has a cash back earning limit of $50 per month.

How to choose a cashback debit card

Consider these five factors when choosing a cashback card and checking account.

  1. Type of rewards earned. Most debit card rewards programs offer either cash back or points that can later be redeemed. They can also earn APY, referral bonuses, signup bonuses or offer discounts on select purchases like travel bookings.
  2. Requirements. You may need to maintain a certain balance in your account or make a certain amount of purchases to earn rewards. The Consumer Finance Protection Bureau requires banks to list these terms and conditions.
  3. Earning potential. Depending on the cashback rate and eligible purchases, you may find some debit card reward accounts offer a better payoff for you than others. Also, most rewards debit cards have cashback earning limitations either by month or year.
  4. Account fees. Check to see if there are any monthly fees, and if they do, see if there’s a way to have them waived. These fees automatically cut into any cashback rewards you might earn.
  5. Accessibility. This includes ATM availability, branch access and online access. Keep in mind that digital banks are less likely to offer in-person access.

6 types of debit card rewards

The types of rewards you can earn with a debit card can heavily influence your final decision.

    • Cashback. Many rewards debit cards offer cash for select purchases. The cash is often sent directly to your checking account.
    • Points. Similar to credit cards, some rewards debit cards give you rewards points that you can later redeem for cash or items.
    • Discounts or exclusive perks. Some debit cards may offer gift cards or discounts on future purchases, and a few can even offer roadside assistance or travel perks.
    • Signup bonuses. Some debit cards offer signup bonuses that reward after fulfilling certain opening requirements. Signup bonuses are typically between $50 to $300.
    • APY. Similar to a savings account, some rewards checking accounts also offer interest on your account balance. However, you may need to meet balance or transaction requirements to earn APY.
    • Referral bonuses. Many banks offer some form of bonus when you refer a friend, and they sign up and open an account.
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Alternatives to cashback debit cards

If checking accounts with rewards programs aren’t for you, here are some alternatives to consider:

      • High APY checking accounts. Instead of being rewarded with cash back, points or airline miles, high APY checking accounts earn passive interest that puts cold hard cash into your account each month.
      • Rewards credit cards. There are many more cashback credit cards than debit cards, often with significantly higher cashback rates. But you’ll have to watch out for interest charges and annual fees.
      • Debit-credit cards. These cards are like secured credit cards, but instead of requiring a cash deposit, they’re secured by an existing checking account. Some debit-credit cards offer cashback rewards, such as Fizz and Current.

Bottom line

Cashback debit cards can help you save money or earn rewards with everyday purchases. But don’t let the promise of extra cash convince you to sign up for an account that isn’t the right fit. Make sure to compare other top checking accounts to find one that’s right for you.

Frequently asked questions

What’s the highest cashback debit card?

Varo’s 6% cashback rate is one the highest we’ve seen among cashback debit cards. If you’re a business owner, there’s also Grasshopper Business Checking, which offers 1% cash back and up to 2.25% APY, and landlords can check out Baselane, which offers up to 5% cash back on debit card purchases with eligible home improvement hardware purchases.

Is cash back free money?

Cashback rewards can be “free” if the account has no monthly or annual fees — but to earn the cash back, you have to spend money. Don’t get caught up in the allure of an account’s ability to earn points or cash back through spending. It’s easy to get carried away and overspend under the idea that you’re earning that spending back. Think of the rewards account as a long-term investment rather than a quick way to get easy cash.

Is there a downside to cashback debit cards?

Cashback debit cards usually require a certain balance or direct deposit to earn the rewards. If you can’t meet those requirements, you won’t earn cash back, which can be a waste of time and energy. Also, if you’re prone to overspending and are tempted by cashback offers, a rewards debit card could tempt you to overspend for the sake of earning cash back.

Alexa Serrano Cruz's headshot
To make sure you get accurate and helpful information, this guide has been edited by Alexa Serrano Cruz as part of our fact-checking process.
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Written by

Writer

Cassidy Horton is a freelance personal finance copywriter and past contributing writer for Finder. Her writing and banking expertise have been featured in Forbes Advisor, Money, The Balance, Money Under 30, Insure.com, and other top digital publishers. She holds a BS in public relations and an MBA from Georgia Southern University. See full bio

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Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto. Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt. Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others. Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio

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