11 Online Banks Offering Unbeatable Perks for the Savvy Saver

5. Discover Bank

Discover Bank serves up impressive perks, especially for spenders who love rewards. Their online savings account delivers a strong APY (often in the range of 4.25% or higher), while checking comes with a no-fee promise. The big hook: you earn 1% cash back on up to $3,000 in monthly debit purchases. That’s rare for checking accounts, especially ones that don’t nickel-and-dime you with maintenance or overdraft fees. Discover’s ATM network is vast, so cash access isn’t a hassle, but the lack of physical branches means cash deposits aren’t easy. The Discover app gets high marks for ease of use and security features. If you’re a debit card person and want some of the cash-back magic that’s usually reserved for credit cards—without racking up debt—Discover’s combination of high rates and rewards gives you the best of both worlds.