Good
- Up to 2% cashback with no monthly cap
- No FX fee in the UK and EEA, at the Mastercard rate
- Krak charges no ATM fees in any region
- Free plastic card, and a free metal card on the Max tier
Watch out
- No cashback below a 200 average balance in your currency
- 2% needs a 50,000 average balance held with Kraken
- Crypto payments include a variable conversion spread
- The US card charges a 1% FX fee and isn't in every state
Krak Card is a free debit card from Kraken that spends from your Krak app balance, in fiat or crypto. Cashback runs from 0% to 2% with no monthly cap, set by how much you keep on Krak and Kraken. In the UK and EEA there's no FX fee, and Krak charges nothing for ATM withdrawals.
Krak runs the card as three programs. Customers in the EEA get a euro Mastercard, UK customers get a pound Mastercard, and US customers get a dollar Visa that launched in August 2026. Pick your country at the top of the page and every table below shows the terms for that program.
Krak Card cashback
Krak Card pays between 0% and 2% cashback with no monthly cap, and the rate depends on your 30-day average balance, not on how much you spend.
The thresholds are the same number in each currency: 200 for Lite at 0.5%, 1,000 for Pro at 1%, 10,000 for Elite at 1.5% and 50,000 for Max at 2%. The balance counts what you hold across Krak, Kraken and Kraken Pro, and nothing has to be staked.
Pro is the tier most people can reach. Keeping €1,000 on Kraken and spending €1,500 a month earns €15 a month, or €180 a year. Below a 200 average balance the card pays nothing at all.
New users get Max, at 2%, for their first 30 days, and after that the tier follows your balance.
Cashback is paid in the card's currency, though US cardholders can choose bitcoin instead of dollars. Under the US terms, ATM withdrawals and gift cards don't earn cashback.
Krak also advertises boosted travel cashback through Krak Concierge, up to 4% in the UK and EEA and up to 6% in the US.
Krak Card fees
Krak Card has no card fee and, in the UK and EEA, no FX fee, but paying with crypto includes a variable conversion spread.
Spending the card's own currency from a fiat balance is free. Paying abroad from a euro or pound balance uses the Mastercard exchange rate with no markup, so a €100 purchase in dollars costs exactly €100 at Mastercard's rate.
The US card works differently, because Krak passes on the Visa exchange rate and adds 1% on foreign-currency payments, so the same $100 purchase abroad costs $101.
When a payment is funded with crypto, Krak sells the asset at the moment you pay and builds a spread into the price. Krak doesn't publish the size of that spread, so keeping spending money in the card's own currency keeps the cost predictable.
The plastic card is free, and a replacement costs 4.99 in the card's currency. Max-tier customers can get a metal card for free, with a replacement fee of 60.
Krak Card ATM withdrawal fees
Krak Card has no ATM fee from Krak in any region, so the only charges are the ATM owner's fee and, for crypto balances, the conversion spread.
There's no monthly allowance to track, because there's no Krak fee to avoid. Withdrawing cash abroad from a euro or pound balance also uses the Mastercard rate without a markup.
Cash withdrawals don't earn cashback, so the card's value for cash users comes from the missing fees.
Is Krak Card safe?
Krak Card is custodial: your balance sits in your Krak account and Kraken holds the assets.
The UK and EEA cards are Mastercard debit cards issued by Monavate. The US card is a Visa debit card issued by Lead Bank, with Stripe running the card program.
Krak's tier system rewards keeping a large balance on the platform. Max needs 50,000 held with Kraken for 30 days, and that money depends on Kraken as custodian. Weigh that before moving savings onto an exchange only to earn a higher cashback rate.
Who should get Krak Card
Krak Card suits Kraken customers in the UK and EEA who already keep at least €1,000 or £1,000 on the platform and travel, because 1% uncapped cashback with no FX fee is a strong pairing.
Someone holding €10,000 on Kraken and spending €2,000 a month earns 1.5%, which is €30 a month. On the Max tier the same spending earns €40 a month.
If your average balance is under 200, the card pays nothing, and a free card with flat cashback will do better. US customers pay a 1% FX fee, so the card is less useful for travel there. The comparison below shows the strongest alternatives in your country.
Where Krak Card is available
Krak Card is available in the United Kingdom, all 30 EEA countries and the United States, though not in every US state.
Kraken hasn't published a list of the US states where Krak Card isn't offered.