Banxe Card
- 2% cashback
- Good, responsive customer service
- This is UK-only card
- No virtual card, only physical
- Buggy app
-
Key Features
| Visa or MC | |
|---|---|
| Debit or Credit | Debit Card |
| Denominated In | £ GBP |
| Apple Pay | Not Enabled |
| Monthly Fee | 0.00 GBP |
| Monthly Inactivity Fee | 0.00 GBP |
| Crypto to GBP Crypto->GBP Conversion Cost | ~1.4% |
| Highest Cashback | up to 2% |
| Entry-Level Cashback | 2% |
| Entry-Level Cashback Monthly Cap | 50 GBP |
| Daily Spending Limit | Unlimited |
| Daily ATM Withdrawal Limit | 10,000 GBP |
| Foreign Exchange Fee | 1% |
| Crypto to Fiat Conversion | Manual when Preloading |
| Crypto Asset Management | Custodial (stores crypto keys on your behalf) |
| Supported Countries | United Kingdom |
| Supported Cryptocurrencies | 1INCHAAVEACAACEACHACMADAADXAERGOAEURAEVOAGLDAIAKROALCX |
Banxe Card Benefits and Rewards
Banxe offers 2% cashback on all card transactions, with a monthly rewards cap of 50 GBP.
Reality CheckAlthough other cards may advertise higher cashback rates, entry-level users with 1,000 GBP in assets typically receive much lower cashback rates from those cards. When compared at the entry-level tier, Banxe Card's 2% cashback offers more value:
| Banxe Card | Industry Average1 | |
| Entry Level Cashback | 2% | 1% |
| Entry Level Cashback Monthly Cap | 50 GBP | 35 GBP |
Banxe Card is a Debit Card
- Debit Card
- Credit Card
- Prepaid Card
- No Bank Account Offered
Banxe Card differs from a traditional debit card, where the balance is linked directly to your bank account.
With Banxe, you'll need to top up your card before use. It should be noted that Banxe doesn't offer a bank account with this card, as some crypto cards do, which means you won't be able to receive third-party payments, like fiat withdrawals from exchanges, for example.
It's Offered in Physical Form, Without an Instant Virtual Equivalent
Banxe Card is available solely in physical form, unlike 30% of crypto cards offering both physical and virtual versions. This means you'll have to wait for its arrival by mail after completing the KYC Identity Verification.
Wondering about the pros and cons of physical-only format? Here are some highlights:
Physical Card | No Virtual Card |
|---|---|
| ATM Withdrawals | No Second Card Number |
| Required for Car Rentals, Hotels | No Instantly Available Card |
| Useful When Phone Dies, or no Wifi | Cannot Separate Online Purchases for Safety |
| Backup Payment Method | Cannot Have a 2nd Card with Lower Spend Limits |
Cost to Order: 0 GBP |
Inconvenience:Since Banxe Card doesn't support Apple Pay, you will have to take it out of your wallet everytime you pay for something (unless you use Curve).
Crypto-to-GBP Conversion Cost with Banxe Card
Banxe Card Requires Pre-Load
Before you can use your Banxe Card, you will need to top-up your account. This means you will have to convert your crypto in advance, exchanging it to GBP and moving it to the card account, to make it available for spending.
| Crypto to Fiat Conversion Fee | 1.2% |
| Broker Sell Spread | ~0.2% |
| Load Fee | 0% |
| Transaction Fee | 0% |
| Total Crypto to GBP Cost | ~1.4% |
Reality Check:Compared to the average ~1.8% crypto-to-fiat cost of other cards, converting crypto with Banxe Card will cost you about the same (~1.4%).
From all crypto cards we reviewed for Europe, WhiteBIT Card, Holyheld Card and Trade Republic Card offer the cheapest crypto-to-fiat conversions (~0.28%, ~0.5% and ~0.7% respectively), while converting crypto with OWNR Card will cost you the most, ~4.64%.
How Does Banxe Card Compare to Other Crypto Cards?
Banxe Card ranks #18 out of 63 amongst all the crypto cards we have reviewed so far. This card is a solid choice among the many crypto cards available, offering competitive features and benefits.
We compared Banxe Card with 42 similar crypto cards, available for the same geographical region. See the resulting pros and cons below.
Strongest Features Against Competitors
Here are the strongest features of Banxe Card against its 42 competitors:
- Offers up to 50 GBP per month in cashback for entry-level users (exceeding the competitors' 35 GBP average).
- Has Unlimited daily spend allowance, a rarity in the industry (other cards have 25,000 GBP limit on average).
- Provides a substantial ATM widthdrawal allowance of 10,000 GBP per day (average amongst other cards is only 500 GBP).
- Supports 367 cryptocurrencies (while other cards support an average of 15).
- Their customer service is very good with a 9.3/10 score (others score only 7.6/10 on average).
- Their overall fees & limits structure is incredibly generous, with a score of 8.4/10 (average fees & limits structure rating amongst other cards is 5.7/10).
Weakest Features Against Competitors
Compared to its 42 competitors, here are the shortcomings of Banxe Card:
- Apple Pay isn't enabled (while 70% of competing crypto cards have it).
- Offers up to 2% cashback (while other cards give an average of 4%).
- Lesser-known company with a 2/10 brand authority score (the average for all competing cards is 6/10).
- Requires preconversion of crypto to load the card (while 40% of competitors auto-convert on every purchase).
- Doesn't offer any free ATM withdrawals (in contrast to 40% of crypto cards which offer an average of 200 GBP free withdrawal allowance per month).
Banxe Card vs. KuCoin Card vs. Nexo Card
Banxe Card
|
KuCoin Card
|
Nexo Card
|
|
|---|---|---|---|
| Monthly Fee | 0.00 GBP | 0.83 EUR | 0.00 EUR |
| Crypto to Fiat Cost | ~1.4% | ~1.25% | ~0.75% |
| Highest Cashback | up to 2% | up to 3% | up to 2% |
| Entry-Level Cashback | 2% | 1.2% | 0.5% |
| Daily Spending Limit | Unlimited | 20,000 EUR | 10,000 EUR |
| Daily ATM Limit | 10,000 GBP | 350 EUR | 2,000 EUR |
| Foreign Exchange Fee | 1% | 2% | 2% |
| Asset Management | Custodial | Custodial | Custodial |
Availability for  United States |
|||
| Supported Cryptocurrencies | 367 | 6 | 83 |
| Apple Pay | Not Enabled | Enabled | Enabled |
| Customer Service | Great | Average | Great |
| Brand Authority | Less-Known | Well-Known | Well-Known |
If you plan to use your card for daily purchases, then daily spending limit is an important consideration for you. Banxe Card offers an unparalleled Unlimited daily spending limit. You will get lower daily limits with KuCoin Card and Nexo Card.
Cashback rewards are a great way to earn back some of the money you spend on your card and is an important consideration as well. Out of the three, KuCoin Card offers the best cashback rewards of up to 3%. The cashback rewards for Banxe Card and Nexo Card are not as high.
To make a good choice, look through all features, as it is an individual choice. If you will mostly do online transactions with this card, then Apple Pay availability may not be a very important feature for you. If you travel a lot, foreign exchange rate will matter. And so on.
Banxe Card ATM Fees: The Real Cost of Cashing Out
Local ATM Withdrawals in GBP
Here's a breakdown of the fees you'll face when making local ATM withdrawals with your Banxe Card:
Starting with an initial amount of 200 GBP in ETH, the ATM withdrawal with Banxe Card will cost you a total of ~9.74 GBP (4.9% of 200 GBP), resulting in a final cash withdrawal of 190.26 GBP in hand.
Plus, if you'd like to check your balance via the ATM, it will cost you an additional 1 GBP.
Doesn't Banxe Card Offer Free ATM Withdrawals?
No, it doesn't. Which is a shame, because 40% of competing cards offer free ATM withdrawals, typically allowing up to 200 GBP per month without fees.
International non-GBP ATM Withdrawals
Things will get significantly worse for International ATM Withdrawals. If you're out of country and cashing out with your Banxe Card, here's what it will look like:
For an international withdrawal using your Banxe Card with an initial 200 GBP in ETH, you'll incur fees totaling ~17.62 GBP (8.8% of 200 GBP), leaving you with 182.38 GBP in the equivalent foreign currency.
Reality CheckOverall, Banxe Card is slightly more expensive than other cards for local ATM withdrawals and slightly cheaper for international ATM withdrawals:
| Cost with Banxe Card | Cost with Other Cards | |
| Local ATM Withdrawals | ~9.8 GBP (4.9% of 200 GBP) | ~9.2 GBP (4.6% of 200 GBP) |
| International ATM Withdrawals | ~17.6 GBP (8.8% of 200 GBP) | ~18.4 GBP (9.2% of 200 GBP) |
From all crypto cards that we reviewed, Trade Republic Card, Holyheld Card and Bit2Me Card offer the cheapest local ATM withdrawals (2.2%, 2.5% and 2.7% of 200 GBP respectively), while OWNR Card scores the worst, landing last on the list with a total local ATM withdrawal cost of 9% of 200 GBP.
We Tested Banxe's Customer Support
We asked Banxe's customer support different questions, and then rated their responses to evaluate how good their support is.
Why should you Care:When you'll have a money-related question, like a missing deposit or being overcharged - having good support at that moment will be crucial for you.
Banxe offers support via the following channels:
| support@banxe.com |
Location: Banxe customer service reps are located in 
United Kingdom.¹
| Support Channel | Our Interaction | Score |
Email (replied in 1 d ) | Quick and to the point reply to a question about a referral program. | High Competence Somewhat Personalized Flawless English, Professional Tone 9.5/10 |
Email (replied in 7 h 50 min) | Replied to what was asked for, but didn't look up the account, assumed the user already has the card. | High Competence Somewhat Personalized Adequate English, Professional Tone 9/10 |
Email (replied in 6 min) | Quick reply to our request to edit mistakenly entered signup information. | High Competence Somewhat Personalized Adequate English, Professional Tone 9/10 |
Email (replied in 3 h 33 min) | Answered questions about card limits, reply came the same day. | High Competence Somewhat Personalized Adequate English, Professional Tone 9/10 |
Email (replied in 3 h 38 min) | Reassuring reply and a quick resolve of a blocked login issue. | High Competence Highly Personalized Flawless English, Professional Tone 10/10 |
To summarize,
Competence and Problem-Solving: Banxe's customer service agents are highly competent, so you can expect every issue to be resolved with professional expertise and a thorough understanding.
Customer Love: Banxe's support responses are personalized, addressing customers by name, but typically do not include other specific account details unless requested.
Reply Speed: Response times are inconsistent, ranging from as quick as 6 minutes to as slow as 1 day.
Overall Customer Service Rating: 9.3/10
This excellent score places Banxe's Customer Service well above the crypto card industry average of 7.2/10.
Is Banxe Card Available for Residents of United States?
No, Banxe Card is not available for residents of United States.
Banxe Card supports: United Kingdom.
To see our list of available crypto cards for 🇺🇸 United States, see this list. There are currently 11 cards listed there.
You may also be interested in this article: Crypto Cards for USA: The Best Options for Americans.
Good to Know. What's My Next Step?
Paulina Masson
Paulina has a strong background in finance and cryptocurrency. She's been involved with crypto since its early days and has observed its progression over the years. Notably, she possesses expertise in various crypto products, having personally tested and evaluated many of them. In her spare time, she is developing a crypto bot designed to automatically trade on short timeframes.
