Discover Launches Balance+: A Fee-Free Overdraft Protection Feature for Debit Card Purchases
With Balance+, Cashback Debit account holders can overdraw their checking account up to
Balance+ complements Discover’s existing overdraft coverage including fee-free Overdraft Protection, which automatically transfers money from a linked Discover account to cover transactions when an account is overdrawn. While Balance+ covers debit card purchase overdrafts, Discover’s Overdraft Protection covers checks, online bill payments and ACH transfers initiated at another bank. Cashback Debit customers can enroll in both Balance+ and Overdraft Protection to ensure different types of transactions are covered.
“With Balance+ we are giving our customers peace of mind that Discover has their back when they use their debit card for their everyday necessities,” said
In addition to Balance+, Discover has continued to enhance Cashback Debit to provide a better experience for customers. Recent enhancements include:
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Add Cash: Provides contactless debit card customers the ability to add money to their account at any Walmart location in the
U.S. , in minutes – with no fees. - Direct Deposit Switch: Allows customers to seamlessly setup or switch their payroll direct deposit instructions securely via their Discover mobile app or through their online portal, providing access to Early Pay (up to two days earlier).
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Secure Account Linking: Gives customers a seamless way to link external accounts to their
Discover Bank account.
The new features build on the existing benefits of Cashback Debit, including 1% cash back on up to
“Cashback Debit offers consumers a wide range of benefits and is one of the only checking accounts to offer cash back rewards,” continued Subramanian. “We’re excited to continue building on this product to provide straightforward and meaningful benefits that puts the consumer in control of their finances.”
For more information, visit Discover.com/online-banking/checking-account.
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