Debit cards: Discover Cashback Debit vs. Wise Debit Card
Quick Verdict
Discover is better for domestic use with cashback and overdraft protection, while Wise excels in international transactions with low conversion fees and virtual cards.
- Discover offers cashback rewards, while Wise does not.
- Wise is better suited for international transactions due to low conversion fees and virtual card availability.
- Discover provides fee-free overdraft coverage, while Wise, being a prepaid card, does not have overdraft fees.
Key features – Side-by-Side
| Attribute | Discover Cashback Debit | Wise Debit Card |
|---|---|---|
| Cashback rewards rate | 1% cash back on up to $3,000 in debit card purchases each month (up to $30 per month or $360 per year). Not all transactions are eligible. | None |
| Foreign transaction fees | None | Generally, Wise doesn't charge foreign transaction fees. They offer low conversion fees, starting from 0.43%. |
| ATM fees | Access to over 60,000 fee-free ATMs in the U.S. through Allpoint and MoneyPass networks. Discover does not reimburse for out-of-network ATM fees. | Wise allows 2 free ATM withdrawals per month, provided the total amount withdrawn is under a certain limit which varies by region. After that, there is a fee per withdrawal plus a percentage of the amount exceeding the limit. ATM operators may also charge their own fees. |
| Monthly fees | None | No monthly fees. |
| Minimum balance requirements | None | None. |
| Integration with payment platforms | Zelle (must be open for 90 days), Apple Pay | Wise cards can be added to Apple Pay, Google Pay, and Samsung Pay. |
| Availability of virtual card | Not specified | Yes. You can have up to 3 virtual cards. Virtual cards have different details from the physical card and can be frozen after each purchase. |
| Overdraft fees | None. Balance+ provides fee-free overdraft coverage up to $200 for debit card purchases (eligibility requirements apply). Overdraft protection available by linking another Discover account. | Not applicable as Wise is a prepaid debit card. |
Overall Comparison
Cashback: Discover wins; International Fees: Wise wins; Overdraft: Discover wins (Balance+) or Wise (N/A)
Pros and Cons
Discover Cashback Debit
Pros:
- 1% cashback on eligible purchases
- No foreign transaction fees
- Access to a large network of fee-free ATMs
- No monthly fees
- No minimum balance requirements
- FDIC insured up to $250,000
- Mobile app with high customer ratings
- Integration with Zelle and Apple Pay
- No overdraft fees or NSF fees
- Fee-free overdraft coverage with Balance+ (up to $200, eligibility required)
- Early Pay (get paycheck up to two days early)
- Fraud protection and purchase alerts
- Free cash deposits at Walmart
Cons:
- Cashback not available on all transactions (e.g., ATM, money orders, P2P payments)
- Discover does not reimburse for out-of-network ATM fees
- Zelle integration requires account to be open for at least 90 days
- $30 service charge for outgoing wire transfers
Wise Debit Card
Pros:
- Uses the mid-market exchange rate
- Transparent about fees
- Can be used for international online purchases and subscriptions
- Offers virtual cards for secure online shopping
Cons:
- No major disadvantages reported.
User Experiences and Feedback
Discover Cashback Debit
What Users Love
- No highlights reported.
Common Complaints
- No major complaints reported.
Value Perception
- No value feedback reported.
Wise Debit Card
What Users Love
- No highlights reported.
Common Complaints
- No major complaints reported.
Value Perception
- No value feedback reported.