You can earn a $50 bonus if you’re a current Discover credit card member just for opening a new Discover Cashback Checking Account with a $25 minimum opening deposit through June 30, 2015.
Anybody in the U.S. can open a Discover Bank Cashback Checking Account online, but you must be a current Discover credit card member or savings account holder in order to open an account and qualify for this $50 bonus offer. Go here to sign up for a Discover Credit Card.
The $50 bonus will be issued by July 31, 2015, as a credit to your checking account and is considered interest that will be reported to the IRS on Form 1099-INT.
The Discover Cashback Checking Account allows you to earn 10 cents cash back on up to 100 transactions per month, which could land you a a $10 bonus per month. Compare that to some banks charging a $10 fee. Discover is actually paying you back. Discover Cashback Checking has no monthly maintenance fees with no balance or activity requirements.
Qualifying transactions for earning the 10 cents cash back bonus include debit card purchases, online bill payments, and checks. The Checking Cashback Bonus can be redeemed as cash to your Discover Cashback Checking Account or transferred to a Discover Credit Card Cashback Bonus account.
You’ll have access to over 60,000 free ATMs in their network as well as free online bill pay. The minimum opening deposit is $25. There’s no minimum balance requirement once the amount is funded.