Nationally Available Cash Back Checking Accounts
Deposit Diary Daily #682
What’s Happening
Cash Back Checking
A Cash Back Checking account rewards the account holder by giving them an opportunity to earn a percentage of their debit card purchases back in cash. In other words, instead of just warehousing your funds, a Cash Back Checking account pays you for using the account.
Some banks and credit unions offer Cash Back Checking accounts in addition to offering Rewards Checking accounts. So what’s the difference?
Rewards Checking earns interest on the account balance each month.
Cash Back Checking pays cash back on debit card purchases.
For example,
While the structure of Cash Back Checking and Rewards Checking accounts are different, the qualifying requirements are usually the same.
N.B. - It’s usually a “one or another” situation with most financial institutions that offer both Cash Back Checking and Rewards Checking accounts. You are limited to either a Cash Back Checking account OR a Rewards Checking account.
Nationally Available Cash Back Checking Accounts
The spreadsheet at the bottom of this page lists 24 nationally available Cash Back Checking accounts, listed in order of maximum cash back per month. The following are four accounts that have potential monthly payouts of $15 or greater.
If Deposit Quest is helpful, you can support it here.
Spreadsheet
The links in the spreadsheet go to either the product’s landing page or the financial institution’s rate page.
Air Academy CU has 10% cash back on up to $250.
OnPath CU has 5% cash back checking up to $160 ($8).