Binance Visa Card Review

Binance

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Verdict: A disappointing offering from the worlds biggest exchange. The 7 cards offered by Binance is below average in comparison to other cards on the market. Binance cards are not instant settlement cards, plus you can only top up your card in £/€ from your wallet. The cashback is paid out in BNB and a limited to the equivalent of €1,800 even if you stake for $600k in BNB for the highest tier card. Finally, there are no perks like other companies that offer rebates on Netflix, free airport lounge and travel insurance. If low fees are what your after this card ticks that box, however, if you are after perks and excellent customer support, this is not the card for you.

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6/10 (Expert Score)

Product is rated as #40 in category Crypto Cards

Binance is the largest crypto exchange platform in terms of trading volume and as of today makes an average of 2.0 billion daily trading volume. Binance offers 7 prepaid cards that can be used worldwide. The cards function on a level basis. Currently, Binance offers card levels 1 thought 7, the first level, level 1 is a zero staking card and you receive 1% cashback in BNB on all transactions. The highest staking card, Level 7, requires you to stake 6,000 BNB (roughly €654,972) to receive 8% cashback in BNB but all cashback is limited to €1,800. Fees for transactions do not change regardless of card level. Cardholders are charged 0.9% of all transactions worldwide and pay 1% on transaction value when transferring funds from wallet to card.

One of the downside to the Binance cards is that you must transfer your crypto to EURO or GBP in your wallet before you can transfer the fiat from your wallet to your card. The transfer can take anywhere from 5 minutes to 24 hours. Another downside to the Binance card is the monthly €1,800 BNB cashback limit.

Features

Usability

Payment options

Fees and charges

Perks & rewards

3.5

Company & Reputation

8.5

Support

PROS:

Low fees 0.9% on transaction worldwide.
Largest crypto exchange platform.
Cashback in BNB up to 8%.
Zero staking card that offers 1% cashback in BNB.

CONS:

Prepaid card, must be topped up in £/€.
Terrible customer support.
Hard to find answers on website.
Cashback only available in BNB.

Specification: Binance Visa Card Review

Company & Availability

Eligible regions	Austria, Belgium, Bulgaria, Croatia, Cyprus, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Guadeloupe, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Martinique, Monaco, Netherlands, Norway, Poland, Portugal, Reunion, Romania, Saint-Martin, Slovakia, Slovenia, Spain, Sweden, The Aland Islands, UK
KYC	Yes
Credit Check	No

Savings Information

Supported Fiat Currencies	EUR, GBP
Supported Cryptocurrencies
Gas fees	Yes

Availability

ATM Access	Worldwide
Pay In Local Currencies	Yes

Support

24 hour support	Email support
Live Support	Yes, Bot support

Staking

Staking required	Level 1: No, Level 2-7: Yes
Staking amount	Level 2: 10 BNB staking, Level 3: 50 BNB staking, Level 4: 200 BNB staking, Level 5: 500 BNB staking, Level 6: 2,000 BNB staking, Level 7: 6,000 BNB skating
Minimum stake Term	Level 2-7: hold for 30 days
Token Ticker	BNB

Rewards

Cashback on spending	Level 1: 1% cashback in BNB, Level 2: 2% cashback in BNB, Level 3: 3% cashback in BNB, Level 4: 4% cashback in BNB, Level 5: 5% cashback in BNB, Level 6: 6% cashback in BNB, Level 7: 8% cashback in BNB
Cashback Restrictions	No
Max Cashback	Capped at €1,800 monthly
On Chain Rewards	None
Referral Rewards	Earn up to 40% commission whenever a friend makes a trade

Spending Limits

Daily ATM Limit	€250
Daily Purchase Limit	Virtual €870/ Physical €8,700
Monthly ATM Limit	Decided on individual basis
Monthly Purchase Limit	Decided on individual basis

Fees

Signup fee	No fee
Online/Offline Purchase Fees	up to .9%
Topping up fee	1% of transaction value
ATM Fees	Up to 0.9%
POS Foreign Transaction fee	up to .9%
Card Replacement Fee	Physical card: €25
ACH Declined	No fee
Charge back processing	No fee
Exchange Rate Provider	/

Card Features

Instant settlement	No
Prepaid	Yes, can only top up in £/€ from wallet
App Payments	Apple Pay, Google Pay
Dual-Interface NFC/EMV (Card with chip)	Yes
Virtual Cards	Yes
Physical Cards	Yes