Both Capital One 360 Checking and Discover Cashback Debit are excellent choices for a checking account with no monthly fees and convenient features. Discover Cashback Debit stands out with its 1% cash back rewards on debit card purchases and 24/7 customer service. Capital One 360 Checking offers a slightly higher APY and a larger ATM network, along with in-person customer service options. The best choice depends on individual priorities, such as earning rewards or preferring in-person support.
| Attribute | Capital One 360 Checking | Discover Cashback Debit |
|---|---|---|
| Minimum deposit to open account | $0 | $0 (initial deposit in any amount must be received within 45 days of account opening) |
| Monthly maintenance fee | $0 | $0 |
| Overdraft fee | $0 | $0. Discover offers Balance+, a fee-free overdraft coverage for debit card purchases up to $200. |
| ATM network size and availability | Over 70,000 fee-free ATMs nationwide through Capital One, MoneyPass, and Allpoint networks. Some are located in CVS, Target, and Walgreens stores. Note that only Capital One-branded ATMs and certain Allpoint ATMs allow cash deposits. | Access to over 60,000 fee-free ATMs in the U.S. through Allpoint and MoneyPass networks. |
| Mobile banking app rating (iOS and Android) | Top-rated app | Highly rated on both Google Play and Apple App stores. The Discover Mobile App has a rating of 4.9 out of 5 on the Apple App Store. |
| Interest rate (APY) | 0.10% APY on all balances | 0% |
| Cash back rewards on debit card purchases | No mention of cash back rewards | 1% cash back on up to $3,000 in monthly debit card purchases. This means you could earn up to $360 per year. |
| Early direct deposit availability | Yes, up to 2 days early | Yes, with access to funds up to two days early. |
| Bill pay features and ease of use | Offers a Bill Pay center to pay bills electronically or by mail with a check. You can set up one-time or recurring payments. | Online bill pay is available, allowing users to consolidate bills into a secure hub and set up automatic payments. |
| Customer service channels and response times | Assistance is available in person at Capital One Cafes and branches, and by phone. | 24/7 U.S.-based customer service via phone (1-800-347-7000), and secure messaging. |
| FDIC insurance coverage | Yes, up to $250,000 per depositor, per insured bank, for each account ownership category. | Yes, funds in Discover deposit accounts are FDIC-insured up to the maximum amount allowed by law. |
| Integration with other financial products | Seamless integration with other Capital One accounts, such as savings accounts and credit cards. | Seamless transfers to other Discover accounts (savings, money market, credit card). |