How Does Cash Back Work on Debit Cards?

Get Cash Back How Does Cash Back Work on Debit Cards?

How You Can Get Cash Back on Debit Cards

The debit card can be a convenient alternative to carrying cash for everyday purchases. They also enable many consumers to pay for goods and services without affecting their credit. Additionally, using a debit card allows you to take greater control over your finances since you can track your balance in real-time as the money is immediately withdrawn from your account. 

Using a debit card for your purchases doesn't mean you'll be left out of cash back rewards that are commonly applied to credit cards. Several debit cards will award cash back rewards for purchases.

This guide will describe how to get cash back from debit cards, as well as how to find the most suitable card for your needs. Searching for the right cash back debit card can be a frustrating and time-consuming job. However, DoNotPay can assist you in finding the ideal cash back debit card with their easy-to-follow three-step process.

What Does Cash Back on Debit Cards Mean?

Credit card companies that offer cash back rewards return a percentage of the purchase to your account. For example, if a credit card pays you 2% back on purchases, that means you earn $2 for every $100 you spend. The cash back rewards are then credited to your account.

Debit card cash back programs work the same way. The only difference is that the cash back reward is returned to the checking or savings account that the debit card is associated with.

The Best Debit Cards for Cash Back Rewards

The following debit cards offer cash back rewards to their users: 

  • Bank of America Visa Debit Card The BOA debit card offers cash back rewards from many major stores. The amounts vary but run as high as 10% with some offering a fixed dollar amount back. The locations can be easily referenced from the BOA app after you open your account. BOA also issues an additional cash back reward when using the card at the listed retailers.
  • Discover Cashback Debit Earn 1% cash back rewards of up to $3,000 each month. You can redeem the reward as an automatic deposit to your savings account or as a credit on your checking, savings, or money market account with Discover.
  • Paypal Business Debit Mastercard This debit card is geared towards those who run a business or freelance. You can earn 1% cash back when purchases are charged as a credit on the card. Cash back rewards are deposited into your Paypal account after at least $1 is earned. The deposits are made at the beginning of each month.
  • Empower Debit Card Empower offers basic banking with checking and savings account features. You can earn 1% in cash back on the first $1,000 in purchases every month. There is another 1% reward for referring a new customer to Empower.

Can You Get Cash Advances on Debit Cards?

Credit card companies offer customers cash advances for a fee through an ATM. All that is needed is the card and a pin that is given upon establishing the account.

Debit cards can also be used for cash advances. The difference is that cash advances are only taken from money that is already in your checking account. This differs from a normal ATM withdrawal in the following ways:

  1. There is a much higher withdrawal limit.
  2. The money can be withdrawn from any local bank, even if your card is not affiliated with the branch. However, not all banks will grant the advance.
  3. There is no interest penalty, only an initial fee.

The primary disadvantage to the debit cash advance is that you can't withdraw more money than is in your account.

How to Find Cash Back Debit Cards With the Help of DoNotPay

Instead of spending countless hours researching online, DoNotPay can help you find the best cash back debit cards in three easy steps. Here's how to get started: 

  1. Search for Cash Back on the DoNotPay website.

     

  2. Kick-off the process to find the right app or website for you.

     

  3. Answer some specific questions so that we can help you start making money!

     

And that's it! DoNotPay will send you the best cash back options we can find and help you to start earning more cash back on your purchases!

Other Cash Back Cards DoNotPay Can Help With

DoNotPay also has information on the cash back credit cards including the following:

In addition to cash back credit and debit cards, DoNotPay can help you locate the best cash back apps

What Else Can DoNotPay Do?

DoNotPay can help you with many other situations including the following:

Finding unclaimed moneyAppeal banned accounts
Cancel timesharesCancel any service or subscription
Warranty claimsAppeal parking tickets in any city
Use a fake phone numberChargebacks and refunds

DoNotPay's innovative platform helps you cut through bureaucratic red tape to save you time and money. We're here to help you solve many of life's administrative issues with our comprehensive database of step-by-step guides and solutions.

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