Discover recognized by empowerment group
RIVERWOODS -- Discover's no fee Cashback Debit account has been certified by a group that works to connect people, who are currently outside of the mainstream banking system, with secure and low-cost bank accounts.
The Cities for Financial Empowerment Fund developed its Bank On National Account Standards. Discover is the first digital bank to meet the Bank On's certification standards with its no fee Cashback Debit account.
Bank On's certification standards identify safe and affordable financial products, which help people avoid expensive alternative financial services and put them on a path to increased savings and financial empowerment.
"Financial inclusion is more critical than ever -- especially during the COVID-19 pandemic when quick and reliable access to funds like stimulus checks is essential," said Carlos Minetti, president of consumer banking at Discover.