Wise Debit Card is better for international travelers due to its low foreign transaction fees. Upgrade Debit Card is better for users who want to earn cashback rewards on everyday purchases and are okay with foreign transaction fees. Both cards offer FDIC insurance and compatibility with mobile wallets.
| Attribute | Wise Debit Card | Upgrade Debit Card |
|---|---|---|
| Foreign transaction fees | Low and transparent fees, starting from 0.43%. Uses the mid-market exchange rate. Currency conversion fees typically range from 0.35% to 2.85%. Free to spend if you have the currency in your account. | Up to 3% of the transaction amount |
| ATM withdrawal fees | Two free withdrawals per month up to a limit that varies by country (e.g., 200 EUR/GBP for Europe/UK-issued cards). After that, a fixed fee plus a percentage of the amount exceeding the free limit. | Upgrade doesn't charge ATM fees and will rebate ATM fees charged by other institutions for Upgrade VISA Debit Card ATM withdrawals in the U.S., up to five times per calendar month (requirements apply). Out-of-network ATM withdrawals incur a $2.50 fee from Upgrade plus any third-party fees. |
| Daily spending limit | Varies depending on the region and can be adjusted via the Wise app or website. | Varies among banks; customers can request a higher limit from their bank. |
| Purchase protection | Dispute transactions if you don't get what you paid for. Process available, but it can take 30-45 days to resolve. Mechanisms for disputing unauthorized transactions and refunds in case of fraudulent activity are provided. | Upgrade OneCard provides credit card fraud protection, limiting liability for unauthorized purchases. |
| FDIC insurance | Offers FDIC pass-through insurance on USD balances when you opt-in to their interest-bearing feature. Protects up to $250,000 through Wise's partner banks. | Funds deposited in Upgrade Rewards Checking accounts are FDIC insured up to $250,000 through Cross River Bank. |
| Mobile app features | User-friendly and feature-rich, allowing you to manage your account, track transactions, freeze/unfreeze your card, and set spending limits. | Manage account, pay bills, and access customer service. |
| Card replacement fees | Fee for replacing a lost or stolen card. | Generally around $150 + GST (specific fees for Upgrade debit card not explicitly mentioned). |
| Cashback rewards | Doesn't generally offer cashback rewards for personal accounts. Offers 0.5% cashback on transactions made with their business card. | 2% cashback on everyday purchases at convenience stores, gas stations, drugstores, and restaurants (including deliveries), as well as on recurring payments like utilities, phone, cable, and monthly subscriptions (limited to $500 in rewards per calendar year). 1% cashback on all other debit card charges. |
| Interest-bearing options | Offers an interest feature on USD balances. By opting in, your USD balance is held with Wise's partner banks, where it earns interest and is FDIC insured up to $250,000. | Premier Savings account with 4.02% APY (minimum balance of $1,000 required to earn interest). |
| Overdraft fees | Doesn't offer an overdraft facility, so you can't spend more than your balance. | Upgrade doesn't charge overdraft fees; charges that would overdraw the account are automatically declined. |
| Minimum balance requirements | No minimum balance requirements to maintain a Wise account. | No minimum amount required to open an Upgrade rewards checking account, and no minimum balance is needed to keep the account open. |
| Compatibility with mobile wallets (Apple Pay, Google Pay) | Compatible with popular mobile wallets like Apple Pay and Google Pay. Adding the card is straightforward through the Wise app or the wallet app itself. | The Upgrade Visa Debit Card can be added to Apple Pay and Google Wallet for payments. |