CoinsOnCards

    Issued by Monavate Limited (UK) / Monavate UAB (Lithuania) — Monavate Limited: FCA EMI License (FRN 901097); Monavate UAB: Bank of Lithuania EMI License (License No. 92)

    Krak CardReview

    Custodial Mastercard debit card for UK/EEA residents spending 400+ assets from a Kraken account.

    3.0· Updated: Service launched in late November 2025
    Visit issuer
    Cashback
    Up to 1.0%
    Custody
    custodial
    KYC
    full
    Networks
    —
    Monthly fee
    Free
    Available in
    —

    The verdict

    Best for: UK/EEA residents wanting no-fee spending from 400+ crypto assets.

    Skip if: You live outside the 31 available countries or need deposit insurance.

    • Offers 1% uncapped cashback on all purchases until February 2026.
    • Spend from 400+ crypto assets with real-time, fee-free conversion.
    Get the Krak Card

    How it works

    Funding: No pre-loading required - spend directly from crypto or fiat balances held on Kraken

    Rewards calculator

    Estimated cashback
    $20
    Effective rate 1.0%
    • $0–∞ @ 1.0% → $20 on $2,000

    Fees

    annual fee£0 / €0
    monthly fee£0 / €0
    card issuance feeFree
    conversion spreadVariable (percentage not disclosed)
    atm withdrawal fee£0 / €0 (third-party fees may apply)
    foreign exchange fee£0 / €0
    BankingSEPA: true · SWIFT: true · IBAN: true · Direct deposit: true · IBAN-style account numbers for salary deposits. Payment rails include SEPA, Faster Payments (FPS), SWIFT. Global transfers to 160+ countries through partner networks. Processing times: Instant (domestic), 1-5 days (international).

    Custody & risk

    • If the issuer disappears
      If provider disappears, users lose access to both crypto and fiat balances. No government deposit insurance coverage applies to fiat or crypto holdings.
    • Counterparty risk
      Custodial model means users lose access to both crypto and fiat balances if provider disappears
    • Regulatory risk
      No government deposit insurance protection on holdings
    • Market risk
      Post-promotional cashback structure uncertain after February 2026

    Custodial Platform (Kraken) controls all private keys for user crypto. Crypto is converted to fiat at point of sale by the provider.

    Protections

    • Real-time fraud detection and transaction alerts
    • Instant freeze/unfreeze capability
    • 3D Secure for online purchases
    • Biometric app access
    • Fiat balances held in segregated safeguarding accounts
    • Proof of Reserves verification

    Insurance & coverage: No government deposit insurance coverage

    Custody partners: Kraken custody

    Limits

    notes
    Daily, weekly, and monthly limits apply. Limits vary by region (UK vs EEA).
    atm daily
    ATM withdrawal limits for security compliance (specific amounts visible in-app)
    daily spending
    Limits apply (specific amounts visible in-app)
    per transaction
    No per-transaction maximums beyond daily totals
    monthly spending
    Limits apply (specific amounts visible in-app)

    The good

    • Uncapped 1% cashback on all purchases.
    • MiCA and FCA authorized for regulatory compliance.
    • Mastercard-network World Elite benefits with no staking.

    The catches

    • Limited to 31 countries in the UK/EEA.
    • Cashback rate after February 2026 is unknown.
    • Limited operational history since late 2025 launch.

    Limitations

    • majorGeographic availability restricted to UK and EEA residents only
    • majorNo government deposit insurance on fiat or crypto balances
    • moderatePost-promotional cashback structure (after Feb 2026) not yet disclosed
    • moderateLimited operational history as service launched in late 2025
    • moderateCrypto spending may create taxable events in most jurisdictions
    • minorConversion spread variable and percentage not disclosed

    What users say

    No public user ratings available yet

    Rating breakdown

    Net reward
    4.3
    Custody risk
    2.0
    Availability
    2.0
    Features & convenience
    4.0

    See our methodology for how we score each axis.