Compare the top cashback checking accounts that let your money work for you.
Cashback checking accounts offer a built-in discount on everyday items as well as big-ticket items you purchase. It’s worth banking with a financial institution that offers a little extra incentive.
You may as well benefit from your banking choice.
Top CashBack Checking Accounts
Upgrade Banking – 1% or 2% Unlimited CashBack on Debit Charges
The Upgrade Rewards Checking Account offers up to 2% cashback on common everyday expenses.
How to earn 2% cashback
- Convenience, grocery, and drug stores – Merchant examples: CVS, Walgreens, Rite Aid.
- Gas stations – Merchant examples: Shell, Chevron, ExxonMobile, Speedway.
- Monthly subscriptions – Merchant examples: Netflix, SiriusXM, Spotify, DisneyPlus.
- Restaurants – Merchant examples: McDonalds, UberEats, Chipotle, Starbucks.
- Utilities, phone – Merchant examples: AT&T, Tmobile, VerizonWireless, Cricket Wireless.
Unlimited 1% cashback on all other debit card charges
More Upgrade Rewards Checking Features
- No ATM fee.
- Zero Monthly Fees.
- Zero Overdraft/Insufficient Fees.
- 2% cashback on common everyday expenses and recurring payments and unlimited 1% cashback on every other debit card charge.
- use your Rewards Checking card wherever Visa® is accepted.
- FDIC-insured up to $250,000.
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Rewards Checking customers earn 2% cash back on common everyday expenses at convenience stores, drugstores, restaurants, and bars – including deliveries – and gas stations, as well as recurring payments on utilities and monthly subscriptions including phone, cable, TV and other streaming services, and 1% cash back on all other debit card charges. 2% cash back is limited to $500 in rewards per calendar year; after $500, customers earn 1% cash back on all eligible debit card charges for the remainder of the year. Some limitations apply. Please refer to the applicable Upgrade VISA® Debit Card Agreement and Disclosures for more information.
Upgrade is a financial technology company, not a bank. Rewards Checking services provided by Cross River Bank, Member FDIC. Upgrade VISA® Debit Cards issued by Cross River Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Personal Loans made by Upgrade’s bank partners. Personal Credit Lines are issued by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. The Upgrade Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.
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Axos Bank – Up to 1% Cashback on Signature-based Purchases
The Cashback Checking Account at Axos Bank offers 1% cashback on eligible debit card purchases.
How to earn cashback
- Earn up to 1.00% cashback on signature-based transaction purchases.
- Earn up to $2,000.00 per month in cashback on your signature-based transactions.
- Maintain a $1,500.00 average daily collected balance to earn 1.00% cashback on signature-based transaction purchases. If your average daily collected balance falls below $1,500 you will earn .50% in cashback for the month.
More CashBack Checking Features
- Minimum Balance Required to Open the Account: $50.00.
- Earn up to 1.00% cashback on signature-based purchases.
- Unlimited domestic ATM fee reimbursement.
- No monthly maintenance fees.
- Activate, deactivate, or reactivate your debit card – all from your banking dashboard.
- Unlimited check writing privileges.
- FDIC-insured up to $250,000.
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SoFi Bank – Earn up to 15% cashback on local retailers
The Cashback Checking Account at SoFi Bank offers up to 15.00% cashback at local retailers on eligible debit card purchases.
How to earn cashback
- Shop at participating local retailers using your SoFi debit card.
- Cashback offers rotate, so check the SoFi app frequently to see the most up-to-date list of offers. For example, SoFi’s cashback offers come in various categories like restaurants, grocery stores, bakery and coffee shops, and clothing stores.
More CashBack Checking Features
The Checking Account at SoFi offers no overdraft fee and no monthly fees. Members can use their SoFi debit card to access 55,000+ fee-free ATMs within the Allpoint® Network. Members with direct deposit can earn 1.80% APY on their balances or 1.00% APY without direct deposit.
SoFi Checking Account Features
- No monthly maintenance fee.
- Minimum opening deposit of $50 with a debit card or by linking a different bank account.
- Get a $25 bonus for opening a new checking account and add up to a $300 bonus for setting up a qualifying direct deposit.
- Earn 1.80% APY on all your cash with direct deposit. Without direct deposit, you will earn 1.00% APY.
- 55,000+ fee-free ATMs.
- Get paid up to 2 days early with direct deposit.
- No-fee Overdraft Coverage with qualifying monthly direct deposit.
- Organize your money, set savings goals, and save your change with Vaults and Roundups.
- Deposit checks, get real-time alerts, freeze or unfreeze your card, change your pin, and more—all from your phone.
- FDIC insured.
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How does a cashback checking account work?
Cashback checking accounts allow you to earn cash money for purchases made with your debit card. You redeem the cashback by putting it back into your checking account, transferring it to a savings account or you can withdraw the cash for whatever you like.
Some banks offer unlimited cashback earnings while others may limit the amount of cashback up to $3,000 in debit card purchases each month.
How much can I earn with a cashback checking account?
With a cashback checking account you earn a percentage on debit card purchases. Some banks offer unlimited cashback earnings while other banks will cap the amount you can earn to the first $3,000 you spend each month.
Having the ability to earn cashback is a nice incentive to open a free checking account online.
