PerkStreet Financial Review – Debit Rewards Card

by Ryan Guina

Update: PerkStreet Financial is no longer accepting new customers. Here is a list of the best free online checking accounts.

PerkStreet FinancialSM offers what is quite possibly the best nationally available rewards debit card program. The current offer is up to 2% cash back program on all purchases at select retailers, 1% cash back on almost all other purchases, and up to 25% cash back in other purchases through their PowerPerks program. There are no caps to how much cash back you can earn (details on the cash back program below). This makes the rewards program better than many cash back credit cards and similar rewards programs.

Through any financial decision process, we highly recommend seeking out all available options to you at the time and choose what will work best for you and your needs, such as the Discover Online Savings to name one. There are many options out there and we are here to help you make the best decision.

PerkStreet Financial Debit Reward Card

PerkStreet Financial ReviewPerkStreet Financial is a free online checking account with one of the best rewards debit card programs available. There is no minimum balance requirement and there are no monthly fees when you use your account. Add in free bill pay, free online money transfers between PerkStreet and another bank, and more features and you have yourself a great banking option.

How can they offer better rewards than most banks? Because PerkStreet lives entirely online. There are no branches so they don’t have to spend money maintaining buildings and property. PerkStreet offers other benefits: they don’t have physical branches, so they offer their customers one of the largest fee-free ATM networks in the country, with well over 37,000 free ATMs. They also offer free overnight shipping to deposit checks. Just take your check to any UPS Store or MailBox, Etc. and you can ship it overnight for free for next day deposit.

Here are some more bullet points about PerkStreet Financial:

  • Up to 2% cash back on debit card purchases – unlimited cash back
  • Plus, earn up to 25% cash back at leading retailers every week
  • The average American will earn $500 every year in cash back
  • No monthly maintenance fees
  • Free online bill pay
  • Easy electronic transfers
  • 24/7 customer support

Additionally, PerkStreet Financial offers ATM access at 37,000 free ATMs nationwide.

PerkStreet Financial Debit Rewards Program Details

PerkStreet Financial cash back program. The PerkStreet Financial(SM) Debit MasterCard® offers excellent cash rewards. Here are the details:

  • 1% unlimited cash back for all non-PIN debit card purchases*
  • 2% cash back on online purchases at:®, iTunes®,,, and* Online purchase bonus perks limited to $2,500 in spend every calendar year.
  • 2% cash back in-store, when you have a Current Account Balance of $5,000 or more at: Walmart, Target®, Best Buy® & Apple® stores.* Offline purchase bonus perks limited to $2,500 in spend every calendar year.
  • 2% unlimited cash back when you and a friend use your cards together at the same restaurant, bar or coffee shop.* Transactions must occur within 60 minutes of each other to qualify.
  • Up to 25% cash back, and sometimes more, on PowerPerks deals which are special in-store and/or online deals that are sent to your inbox every week.

Earn More Cash Back with PowerPerks 2.0.. PerkStreet customers will receive a weekly email with the opportunity to earn up to 255 cash back on purchases through their PowerPerks program. There is no limit to the amount of cash back you can earn with this program.

Claiming your rewards. You can redeem your rewards for cash (my favorite option!), or a gift card from popular retailers such as Amazon, Target, Best Buy, or a gift card.

Open a PerkStreet Financial Account to take advantage of this cash reward program! Opening a PerkStreet Financial Account is free and easy (it takes about 5 minutes).

What Makes PerkStreet Financial better than its Competitors

Many banks offer debit card rewards programs, but few match up to PerkStreet. Many debit reward card programs offer small rewards, fees, or other requirements. The only way to get a better rewards program is to go to a credit card – which many people are unwilling to do.

Who PerkStreet is for

PerkStreet Financial is for anyone who wants a solid rewards program to reward their everyday spending, but doesn’t want to use a credit card. If you primarily use a debit card for purchases, then PerkStreet might just be a great fit for you.

Published or updated May 31, 2016.
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{ 5 comments… read them below or add one }

1 Money Reasons

This is news to me! Thanks for the heads up on this one, I’ll definitely be looking into this!


2 Khaleef @ KNS Financial

Thanks for the info! I’ve been looking for a new online bank (currently using Emigrant Direct) – Perkstreet will probably be a finalist!


3 Laurie McLachlan

I work for PerkStreet Financial and wanted to clarify something:

The 2% offer is does NOT expire six months after your account is opened. As long as your Current Account Balance at the start of the day is $5,000 or more, you’ll earn 2% cash back on all non-PIN purchases you make that day.

I also wanted to mention that you can move money from outside checking and savings account for free on our banking website which is even faster than free overnight mail.

Thanks and I’m glad you like our product.


4 Ryan

Thanks for the clarification, Laurie.


5 Marie

Since this is a debit account, how secure is your money from scammers?


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