Wells Fargo Vs Discover: Securing Your Identity For The Future

By Calvin Fellows

Topic:  ID Theft

January 31, 2022

The modern consumer uses the internet several times per day to carry out regular tasks. Unbeknownst to many of us, we consent for our information to be stored by hundreds of websites. What’s more, cybercriminals are constantly on the hunt to steal from vulnerable internet users.

Wells Fargo Vs Discover

TABLE OF CONTENTS

1. Comparison

2. Similarities

3. Wells Fargo Features and Services

4. Discover Features and Services

5. Conclusion

A verProvides comprehensive monitoring and surveillance of online and offline activities. Excellent level of credit monitoring with monthly 3-bureau credit reports.

  • Up to 10 children can be added to a plan free of charge
  • 24-hour customer service for added support if fraud is detected outside of regular hours
  • Substantial number of security features including dark web surveillance and a fast alert system
We would Choose Aura over Wells Fargo and Discover. Here’s Why:
The quick and dirty is that Aura overall provides a lot more bang for your buck across more categories:
  • Better Threat Resolution
  • More Accurate Monitoring
  • More Flexible Plan
  • Covers up to $5 million in lost funds
  • Excellent Antivirus & VPN Included

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With so much confidential information (including banking details and financial data) now accessible online, people must prioritize identity protection.

If you’re investigating security options for you and your family, deciding between Wells Fargo vs. Discover is a likely sticking point. We’ve put together this guide to take you through the pros and cons of each before making your decision.

Wells Fargo vs. Discover: Comparison

Difference
Coverage
  • Family-friendly and offers up to 10 children to be added to a policy for free
  • Customer service can be contacted 24/7.
  • Doesn’t offer a set family plan to its customers.
  • Don’t provide 24/7 customer service or an emergency contact.
Insurance
  • Offers up to $1,000,000 in insurance reimbursements for stolen funds, loss of income, or other fraud-related costs
  • Only Offers up to $10,000 in insurance reimbursements for stolen funds, loss of income, or other fraud-related costs
Web Security
  • Carries out extensive online surveillance, including dark web monitoring, to detect potential threats to its customers.
  • doesn’t offer the same cover level and is primarily focused on bank and credit information.

Similarities

Similarities
Web Security
  • Either provider allows customers to access their accounts via mobile apps and desktop platforms.
  • Highly rated on mobile app stores.
  • Customers can sign up to either provider swiftly through their online processes.
Insurance
  • Accounts and activities are tracked 24/7, ensuring customers are protected outside of regular business hours.
  • To avail of identity protection from each service, you must be an existing customer of either respective company.
  • If identity theft or fraud occurs, both providers offer to assist through their fraud resolution specialists. Their expert teams guide customers through every step of the processes, from the very moment fraud is reported.
  • Zero liability protection is offered
  • Both companies offer their services at similar price points.
  • If you lose your wallet or credit card, both providers can assist you in canceling your cards and ordering replacements quickly.
Credit Monitoring
  • Both providers perform surveillance and monitoring of your bank accounts and credit card activities.
  • Alert notification systems are in place to let you know if any suspicious activities are detected with your accounts, credit score, or transactions.
  • Both providers offer 3-bureau credit monitoring and send their customers regular 3-bureau credit reports.

Wells Fargo Features and Services

Identity Theft Protection Features

Identity theft protection comes as an optional purchase for new or existing customers. As an add-on product, this is quite limited when compared to other identity protection providers. 

Monitors its customers’ information for suspicious activity or potential identity theft 24/7. As soon as an issue is detected, the customer is notified via text or phone call.

Mobile banking sessions are encrypted, and only supports web browsers that meet its encryption criteria. Advanced Access verification is used to ensure transactions are safe and authorized. Two-factor authentication is an option for customers who want additional security for account log-ins.

Wells Fargo claims to be working toward improved security for its customers.

Credit Monitoring

Credit monitoring includes round the clock account surveillance and 3-bureau credit monitoring. If your banking behavior seems unusual, your account may be flagged, leading to restricted access until identity clarification is complete.

For customers who regularly use different devices for online banking, this level of security can be advantageous.

Recovery

Offers up to $10,000 in insurance reimbursement if identity theft occurs. Customers are also given access to a fraud resolution specialist. Wells Fargo credit and debit cards come with zero liability protection, meaning customers will be fully reimbursed if unauthorized card transactions are made. 

Pros and Cons

Description
Pros
  • The 24-hour standard plan is competitively priced at just $12.99 per month.
  • Advanced Access security feature protects your finances during large transactions.
  • The app is highly rated on both Android and Apple app stores.
  • There is 24-hour bank account monitoring plus credit and debit card surveillance.
  • Customers are notified of any suspicious activity quickly by phone call or text.
  • Identity Theft Repair Kit helps guide you through fraud reporting.
  • 3-bureau credit monitoring.
  • Zero liability protection comes as a free add-on.
  • Credit simulator option allows you to see potential outcomes if certain actions are taken.
  • Personalized fraud assistance if theft occurs.
Cons
  • For zero liability protection to come into effect, claims must be made promptly.
  • There is no family plan for identity protection.
  • Has a history of misusing customers’ identities.
  • Up to $10,000 in insurance reimbursements is significantly lower than many competitors.
  • Plans are heavily focused on credit scores and information rather than identity protection.
  • Don’t provide 24/7 customer service or an emergency contact.
  • No dark web scanning or in-depth internet monitoring.
  • Much of the security services offered can be done by any individual.
  • Does not monitor court records or important databases for potential threats.

Plans and Pricing

$12.99/month
Identity Theft Protection
  • This package is the basic add-on for Wells Fargo customers. It includes features such as quarterly credit reports, 3-bureau credit monitoring, credit file change alerts, and up to $10,000 in insurance reimbursements.
  • This plan is very affordable, costing just $12.99 per month.
$15.99/month
Enhanced Identity Theft Protection
  • This more extensive package includes all aspects of the standard plan plus additional features such as a PLUS score tracker and simulator.
  • It is slightly more expensive at $15.99 per month.
We would Choose Aura over Wells Fargo and Discover. Here’s Why:
The quick and dirty is that Aura overall provides a lot more bang for your buck across more categories:
  • Better Threat Resolution
  • More Accurate Monitoring
  • More Flexible Plan
  • Covers up to $5 million in lost funds
  • Excellent Antivirus & VPN Included

Get It Now and Enjoy OFF!

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Discover Features and Services

Identity Theft Protection Features

Its Identity theft protection provides comprehensive cover through a range of excellent security features. Scans and monitors the internet (including the dark web) for potential fraud being committed in your name or using your SSN.

Surveys national databases to ensure that no one is using your address fraudulently. Can alert its customers if there are offenders in their area by regularly scanning criminal and court records.

With so much of your information now stored online, this level of surveillance and protection can be necessary to keep your data safe.

Credit Monitoring

One of the key benefits its credit monitoring is that it provides customers with monthly summaries of 3-bureau credit reports. Credit scores can be a useful indicator of bank fraud. Through regular surveillance, the service provider and its customers can often notice irregularities very quickly.

As soon as changes are noted in a customer’s credit file, they are alerted through their system. 

Recovery

If identity fraud or stolen data occurs, it offers its customers up to $1,000,000 in insurance reimbursements. This covers stolen funds, lost wages, legal fees, and other related costs. Customers will also gain access to its US-based fraud resolution specialists.

Due to its zero liability guarantee, it never holds its customers accountable for unauthorized purchases using Discover cards. 

Pros and Cons

Description
Pros
  • Low price considering the number and depth of security features.
  • Dark web surveillance lowers the risk of your identity being sold online.
  • Up to 10 children can be added to your plan free of charge.
  • Round the clock customer service is available in case of emergencies.
  • 3-bureau credit reports are provided monthly.
  • The app is available for Android and iOS and is highly rated in both stores.
  • Alert system immediately notifies customers if theft occurs.
  • Up to $1,000,000 in insurance reimbursements for identity theft victims.
  • Fraud resolutions specialists can assist in recovering stolen data.
  • Easy-to-use digital dashboard to access alerts and account information.
Cons
  • Their plans are limited to their credit and debit card holders.
  • With only one available plan, there is no variety of choice for customers.
  • Daily bureau monitoring only includes Experian, leaving the other 2 major bureaus unmonitored.
  • Spouses or partners can’t be added to a plan, so they must purchase their own.
  • If fraud costs you more than $1,000,000, you’re not covered for the excess.
  • Alerts are only sent digitally, meaning customers may not receive them immediately.
  • Its identity theft protection doesn’t include anti-theft software; it just monitors activity.
  • There is no free trial to test out the service.

Plans and Pricing

$$15/month
Identity Theft Protection
  • This identity theft protection is available through one plan, unlike many competitors who offer a variety of packages. However, this plan is competitively priced at just $15 per month.
  • While there is no specific their family plan, up to 10 children can be added to your package for free.
  • This is an excellent aspect of Discover’s offering, as people with large families often pay high fees to include additional members. Each child avails of the comprehensive services outlined above.
  • One major drawback to this identity theft plan is that it is only available to Discover credit or debit card holders.

Conclusion

There is one standout choice for anyone deciding between Wells Fargo and Discover to purchase an identity protection plan. Discover offers a much more comprehensive security service at a very reasonable choice. You can look out for your children’s safety by adding them to your plan for free.

These 2 companies offer very different packages. While both provide comprehensive monitoring and surveillance of financial accounts and credit scores, Discover also offers extensive online and offline security features, including dark web protection.

Wells Fargo’s quarterly credit reporting is trumped by Discover’s monthly 3-bureau credit reports and scores. Although both providers send out fast alerts if suspicious activity is detected, Discover’s intuitive digital dashboard makes account and alert access very easy.

A key benefit of each service is that they provide their customers with dedicated resolution specialists if theft occurs. However, Discover’s customer service team is available 24 hours a day in case of emergencies. Wells Fargo’s customer service has limited availability.

Wells Fargo has 2 plan options compared to Discover’s single package. Unfortunately, neither of Wells Fargo’s plans come close to offering the level of identity protection that Discover does. For just $15 per month, Discover offers much better value with its plan.

A significant drawback with both choices is that you must be an existing card holder to be eligible for their protection plans. However, both companies are leading financial institutions with millions of US-based customers.

We would Choose Aura over Wells Fargo and Discover. Here’s Why:
The quick and dirty is that Aura overall provides a lot more bang for your buck across more categories:
  • Better Threat Resolution
  • More Accurate Monitoring
  • More Flexible Plan
  • Covers up to $5 million in lost funds
  • Excellent Antivirus & VPN Included

Get It Now and Enjoy OFF!

GET IT NOW!

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