Good
- No card issue fee and free replacement cards
- 1 CoinJar Rewards point for every $1 you spend
- Apple Pay and Google Pay supported
- Issued by EML, which holds an Australian financial services licence
Watch out
- 1% fee on every purchase, returned only as points
- 2.99% foreign exchange fee on non-AUD payments
- 1% ATM fee, with a $1,000 daily withdrawal limit
- Available in Australia only
CoinJar Card is a free prepaid Mastercard for Australians that spends crypto from a CoinJar account. Every purchase carries a 1% fee, and CoinJar returns that 1% as Rewards points, at 1 point per $1 spent. Payments in other currencies add a 2.99% foreign exchange fee, and ATM withdrawals cost 1%.
CoinJar Card is a single program with one plan, with no tiers, subscriptions or staking requirements, so every cardholder pays the same fees.
CoinJar Card cashback
CoinJar Card earns 1 CoinJar Rewards point for every $1 spent, which CoinJar presents as its 1% purchase fee returned in points.
The card page lists the in-store and online fee as 1%, returned in Rewards points, so on a $100 purchase you pay $1 in fees and get 100 points back. The points cancel out the fee, so the card doesn't leave you ahead the way a fee-free card with 1% cashback would.
Points can be used toward future trades on CoinJar or for items in the CoinJar Rewards store. If you already trade on CoinJar, the points lower the cost of your next trade.
The earn rate is the same for every cardholder. Spending $2,000 a month in Australia costs $20 in purchase fees and earns 2,000 points, with no tier, stake or subscription that changes the ratio.
CoinJar Card fees
CoinJar Card has no card issue fee and no monthly fee, but every purchase costs 1% and every non-AUD payment adds a 2.99% foreign exchange fee.
The card spends from a crypto balance you choose in your CoinJar account. At the moment you pay, CoinJar sells that crypto at its sell price and sends Australian dollars to the card issuer. The product disclosure statement says CoinJar charges a separate trading fee for selling your crypto, and the card page lists the purchase fee as 1%.
Foreign payments use Mastercard's exchange rate plus 2.99%. The disclosure statement's own example is a US$200 purchase that converts to $190 and adds a $5.68 fee. On a $1,000 trip, the foreign exchange fee alone is $29.90, before the 1% purchase fee.
The physical card and replacement cards are free, and an unsuccessful dispute costs $27.50.
Because the crypto is sold at the moment you pay, the price you get depends on the market at that second. Spending from a volatile coin means a purchase can cost more or less of it than it would have an hour earlier.
CoinJar Card ATM withdrawal fees
CoinJar Card charges 1% on ATM withdrawals, plus whatever fee the ATM owner shows on screen.
A $200 withdrawal costs $2 in CoinJar's ATM fee. Withdrawals abroad also carry the 2.99% foreign exchange fee, so cash overseas is expensive with this card.
The disclosure statement sets a $1,000 daily ATM limit and a $20 minimum per withdrawal. ATM withdrawals also count toward the $5,000 daily limit and the 25 transactions a day allowed on the card, and only the physical card works at ATMs.
Is CoinJar Card safe?
CoinJar Card is custodial: your crypto sits in your CoinJar account and CoinJar holds the keys.
The card is issued by EML Payment Solutions Limited, which holds Australian Financial Services Licence 404131. CoinJar Australia Pty Ltd arranges the card as EML's authorised representative. Money that EML receives to settle card payments is held on trust in a segregated client account at ANZ.
The disclosure statement lists the main risk plainly. The card only works once CoinJar sells your crypto and passes the dollars to EML, so if the CoinJar Group became insolvent or delayed that transfer, you might not be able to use the card. The card balance is not a bank deposit and earns no interest.
Who should get CoinJar Card
CoinJar Card suits Australians who already hold crypto on CoinJar and want to spend it in Australian shops, online or through Apple Pay and Google Pay.
The numbers don't favour it as a rewards card. The 1% back in points only matches the 1% purchase fee, so net rewards are close to zero. Abroad, every $100 costs about $3.99 in fees before the points are counted.
For travel or for earning cashback, a card with no purchase fee and a lower FX fee will cost less. The comparison below shows the strongest alternatives in your country.
Where CoinJar Card is available
CoinJar Card is available only in Australia, for customers with a CoinJar account.