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Discover Launches Balance+: A Fee-Free Overdraft Protection Feature for Debit Card Purchases


 Discover announced Balance+, an innovation for its Cashback Debit Checking account, providing customers with fee-free discretionary overdraft coverage applicable on everyday debit card transactions. With many Americans continuing to live paycheck-to-paycheck, this offering highlights Discover’s continued efforts to help address overdraft fees–a key customer pain point–and allows customers to seamlessly manage their money without the stress of not being able to cover everyday purchases.

With Balance+, Cashback Debit account holders can overdraw their checking account up to $200 on debit card purchases with no fees. To qualify for Balance+, an account must be in good standing with a balance greater than $0, and account holders must receive at least one qualifying direct deposit of $200+ per month for the last two calendar months.

Balance+ complements Discover’s existing overdraft coverage including fee-free Overdraft Protection, which automatically transfers money from a linked Discover account to cover transactions when an account is overdrawn. While Balance+ covers debit card purchase overdrafts, Discover’s Overdraft Protection covers

“With Balance+ we are giving our customers peace of mind that Discover has their back when they use their debit card for their everyday necessities,” said Ram Subramanian, vice president, chief marketing officer of Discover Bank. “This is a natural extension of our commitment of offering the most rewarding banking experience without having to worry if you make a mistake.”