Both the Discover Cashback Debit and Capital One 360 Checking accounts are excellent choices with no monthly fees and robust mobile banking. Discover stands out with its 1% cashback on debit card purchases, making it ideal for those who frequently use their debit card. Capital One 360 Checking offers a slightly better ATM network, branch access and earns a small amount of interest. Choosing between the two depends on whether you value cashback rewards or prefer broader ATM access and branch availability with a small APY.
| Attribute | Discover Cashback Debit | Capital One 360 Checking |
|---|---|---|
| Minimum opening deposit | $0 | $0 |
| Monthly maintenance fee | $0 | $0 |
| ATM access and fees | Access to over 60,000 fee-free ATMs in the U.S. You may be charged a fee by the ATM owner if you use an out-of-network ATM. | Free access to over 70,000 Capital One, MoneyPass®, and Allpoint® ATMs nationwide. These ATMs can be found in select Target®, Walgreens®, and CVS® stores. Capital One does not charge foreign transaction fees for its 360 products, including ATM withdrawals abroad. |
| Overdraft fees and options | No overdraft or insufficient funds fees. Balance+: Fee-free overdraft coverage for debit card transactions up to $200. Requires immediate repayment. Eligibility requires direct deposits of $200+ for the past two calendar months, a positive balance, and being in good standing. Overdraft Protection: You can link another Discover account (checking, money market, or savings) to cover overdrafts. | No overdraft fees. Multiple overdraft options are available, including: Auto-Decline, Free Savings Transfer, No-Fee Overdraft |
| Interest rate (APY) | No interest is earned on this account. | 0.10% APY on all balances |
| Cashback rewards on debit card purchases | 1% cash back on up to $3,000 in debit card purchases each month. This could earn you up to $360 per year. Rewards do not expire. ATM transactions, money orders, P2P payments, and loan payments are not eligible for cashback rewards. | No cashback rewards on debit card purchases |
| Mobile banking features | Highly rated mobile app, Mobile check deposit, Direct Deposit Switch, Freeze It | Highly rated and user-friendly mobile app. Mobile check deposit. Check balances and view statements. Transfer funds between accounts. Send money with Zelle®. Open new accounts. Debit card lock/unlock. |
| Online bill pay | Yes | Yes |
| FDIC insurance | Yes, FDIC-insured to the maximum amount allowed by law. | Yes, FDIC insured up to $250,000 per depositor, per insured bank |
| Customer service availability | 24/7 U.S.-based customer service. | Customer support is available by phone, chat with Eno, Capital One's digital assistant, and in-person at Capital One branches and Cafés. To report a lost or stolen debit card, or to dispute a transaction, call 1-800-655-2265. Automated services are available 24/7. Customer Service Bankers are available Sunday-Saturday 8 a.m.-11 p.m. EST. |
| Integration with other accounts | Can link to other Discover accounts for Overdraft Protection. Can transfer cashback bonus to a Discover money market, checking, savings account, or Discover credit card Cashback Bonus account. | Easily transfer money between Capital One accounts and linked accounts at other banks. Integration with Zelle for fast transfers to other banks. |
| Availability of physical branches | Only one physical branch in Greenwood, Delaware. | While designed as an online checking account, you can manage your money at ATMs or in person at Capital One branches and cafes. |