SafePal Card Review: Fees, Cashback and the Fiat24 Account

SafePal Card is a virtual Mastercard linked to a Swiss Fiat24 account that you open inside the SafePal wallet app, and it pays no cashback. Topping up is free under SafePal's current fee waiver, there are no account fees, and payments in non-USD currencies cost 1% unless you pay from an enabled euro, Swiss franc or dollar account.

Deposits arrive as USDC on Arbitrum, so other crypto has to be swapped to USDC first, and the swap spread is a cost of its own.

SafePal Card cashback

SafePal Card pays no cashback on spending, and there's only one plan.

SafePal's Bronze, Silver, Gold and Platinum account tiers look like a rewards program, but they only change deposit fee rebates and USDC purchase fees. You reach them with points from registration, top-ups and referrals, or by staking 500, 1,500 or 5,000 SFP. None of them changes card spending, FX fees or cashback.

The rewards that do exist are referral commissions and top-up fee rebates. If cashback matters to you, look at the comparison further down.

SafePal Card fees

SafePal Card has no account or management fees, and topping up the account is currently free under a fee waiver.

SafePal's standard top-up fee is 1%, with rebates by account tier, and zero deposit fees apply only while the waiver program runs. If SafePal ends the waiver, top-ups could cost 1% again.

The FX fee is 1% on Mastercard payments settled in a currency other than US dollars. You avoid it by enabling a euro, Swiss franc, dollar or yuan currency account and paying from that balance. A €100 payment from the euro account costs nothing extra, while the same payment from the dollar balance costs about €1.

Spending limits are $20,000 a month and $10,000 a day.

SafePal Card ATM withdrawal fees

SafePal Card has an ATM withdrawal setting for contactless ATMs, but SafePal doesn't publish an ATM fee.

Without a published fee, there's no way to price a withdrawal before you make it. If you need cash regularly, a card with published ATM terms is the better choice.

Is SafePal Card safe?

SafePal Card is custodial: the money you spend sits in a Fiat24 account in Switzerland, even though the setup is often marketed as self-custody.

Fiat24 is the Swiss company behind the IBAN account, and it handles identity checks and licensing. SafePal provides the wallet app the account lives in.

The self-custody label comes from how balances are shown. Your EUR, USD and CHF balances are mirrored as EUR24, USD24 and CHF24 tokens on your own Arbitrum address, and an account NFT in the SafePal wallet controls the account. The money itself is still held by Fiat24, so you depend on Fiat24 the way you would on any payment account provider.

The account NFT sits in your SafePal wallet, so the wallet's recovery phrase protects the card account too.

Who should get SafePal Card

SafePal Card suits SafePal wallet users who want a low-cost way to spend USDC in euros, Swiss francs or dollars, with a Swiss IBAN alongside.

With no top-up fee and no FX fee from an enabled currency account, someone spending €1,000 a month from the euro balance pays nothing in card fees while the waiver lasts. Paying the same €1,000 from the dollar balance would cost about €10.

It's a poor fit for anyone who wants rewards, a physical card or predictable cash withdrawals. The comparison below shows the strongest alternatives in your country.

Where SafePal Card is available

SafePal Card is available in 42 countries and territories across Europe and Asia-Pacific, plus Canada, but not in the United States or Latin America.

Most of the EEA is covered, with Bulgaria, Croatia and Malta among the gaps. Outside the EEA, the list includes the UK, Switzerland, Canada, Australia, New Zealand, Hong Kong, Japan, South Korea, Malaysia, Singapore and Taiwan.

Opening the account requires an identity check, which Fiat24 carries out inside the SafePal app.