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Nº 4 Best exchange card

Krak Card review

Kraken built this for Europe first, and it shows: an Irish MiCA licence, zero fees from Kraken's side, and cashback that pays instantly with no monthly cap — if you keep a balance.

At €1,500/month with 10% foreign-currency spending, Krak Card is worth +€180 a year after fees — Nº 4 of 11 in our calculator. Try your own numbers.
Cashback0–2% by balance
Paid inEUR / GBP / BTC
Annual fee$0
FX0% (spread on crypto)

The Krak Card is a Mastercard debit card on top of Kraken's payments app, launched for UK and EU residents in November 2025 under Kraken's Irish MiCA licence. You can pay from hundreds of assets and even split one payment across several, and the account comes with a virtual German IBAN for salary deposits.

Since March 2026, cashback is tiered by your 30-day average balance across Kraken products: 0% below €200, 0.5% from €200, 1% from €1,000, rising to 2% at €50,000 — paid instantly with no monthly cap. New users get 2% for their first 30 days regardless of balance.

What works

  • MiCA-licensed, register-verifiable issuer with a long exchange track record
  • No transaction, FX or ATM fee from Kraken
  • Uncapped cashback paid instantly in fiat or BTC
  • Virtual IBAN turns it into a near-bank account

What doesn't

  • Zero cashback below a €200 average balance
  • 2% needs €50,000 parked on Kraken
  • Variable, undisclosed spread when paying from crypto
  • Custodial — Kraken holds the funds
Watch out"Zero fees" is true only for fiat. Spend from BTC or ETH and a conversion spread applies that isn't printed anywhere — pay from a EUR balance when you can.

Who it's for: Kraken users and anyone who wants a clean, regulated exchange card with no fee surprises on fiat spend.

Sources

Figures on this page come from the issuer’s own pages, checked on September 25, 2026:

Get the Krak Card cardReferral link — we earn a commission at no extra cost to you. New Krak users get a cash reward too (the invite page currently shows $10) after ordering a physical card and completing the qualifying purchases within 90 days; the exact amount is set in the app. (terms)

Questions

Krak questions

Which countries can get the Krak Card?
Krak Card: EEA · UK. Availability is unconfirmed in Switzerland. Check the issuer’s current country list before applying.
Does the Krak Card charge foreign exchange fees?
Krak adds no FX markup of its own when you spend fiat; paying from crypto adds a variable conversion spread.
Is the Krak Card custodial or self-custodial?
Krak Card is custodial: your funds are held on the provider’s platform, so you rely on the company’s solvency and licensing.
How much cashback does the Krak Card really pay?
Krak Card pays 0–2% by balance, credited in EUR / GBP / BTC. For someone spending €1,500 a month with 10% in foreign currencies, our calculator puts its net value at €180 a year after fees, ranking Nº 4 of 11.

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