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Discover is rolling out a new version of their debit card, offering several new features, including Freeze It®, which may be familiar to their credit card customers. It lets cardholders turn their card on and off if it's lost or stolen.
Cardholders now also have the ability to automatically transfer cashback rewards directly to a savings account. Along with the new benefits the Discover Cashback Debit card also has a brand new design.
As is the case with Discover credit cards people with the Discover Cashback Debit card earn rewards too. How much do they earn? With this card, they get 1% back on all purchases they make with their debit card up to $3,000 a month.
This new card replaces their Discover Cashback Checking and is designed to give customers more in terms of features and value. "We are continually looking for ways to tailor our products to our customers' wants and needs and provide them features that will help them conveniently save more," said Arijit Roy, vice president of Deposits at Discover.
"Cashback Debit already comes with no monthly fees while providing cash back for everyday purchases. The addition of auto redemption to savings is yet another way we are continuing to make saving easier for our customers," he added.
Freeze It has been available to people with the Discover credit card for a while, and now it comes with the Discover Cashback Debit card. If their card goes missing, whether it's been lost or stolen, cardholders can go into the app and shut their card off. This way no one can use it without their knowledge. If they find their card, they can simply go into the app and turn it back on.
With the Auto Redemption to Savings feature, people can transfer their cash back to their Discover Savings account every month automatically.
Some things stay the same
These additional features are on top of the features that already come with the debit card, including getting their first fee waived each year. This feature will automatically kick in when a fee is charged to their account.
There are no monthly fees with this account, which means there is no opening deposit needed or balance requirement.
Cardholders also get access to customer service every day and night, and their customer service is based in the United States.
When looking to take out cash, have access to over 60,000 no-fee ATMs located in the U.S.
To get more information, visit this website.