Good
- One-off $5 card fee and no monthly fee on the free plan
- Free USDC and USDT deposits fund the card's dollar balance
- Cashback paid in SPY, an S&P 500 fund, with no monthly cap at 0.3%
- Works in Apple Pay and Google Pay, including at contactless ATMs
Watch out
- Base cashback is only 0.3%; 1% needs $50,000 invested with Wallbit
- 2% FX fee on every payment outside US dollars
- ATM withdrawals cost 1% with a $5 minimum
- Virtual only, a physical card isn't available yet
Wallbit Card is a virtual Visa Platinum card in US dollars from Wallbit, a neobank that gives remote workers a US account they can fund with dollars, euros, USDC or USDT. The card costs $5 once, charges nothing on dollar payments and 2% on other currencies, and pays 0.3% to 1% cashback in S&P 500 shares.
The card is issued in the United States and spends straight from your Wallbit dollar balance, so there is nothing to load or move first. Wallbit's paid Pro and Max plans change withdrawal and investment fees but not the card, so everything below applies to every account.
Wallbit Card cashback
Wallbit Card pays 0.3% cashback with no monthly cap, rising to 0.5% or 1% if you keep $10,000 or $50,000 in a Wallbit investment account.
The rewards are paid in SPY, an exchange-traded fund that tracks the S&P 500. Wallbit adds your cashback to a pending balance and buys SPY shares once it reaches $1, without a trading commission. To receive the shares you need to activate the free investment account, and you can turn cashback off if you'd rather not.
At 0.3%, spending $1,000 a month earns $3 in shares. The higher tiers are capped: Silver pays 0.5% up to $50 a month and Gold pays 1% up to $100, so both stop earning after $10,000 of monthly spending. The Gold tier only makes sense for people who already invest $50,000 through Wallbit, since the cashback alone is too small a reason to move that much.
Wallbit Card fees
Wallbit Card costs $5 once to issue, has no monthly fee, and charges a 2% FX fee on payments in any currency other than US dollars.
That makes the card cheap for what most Wallbit users buy with it: subscriptions and online shops that charge in dollars, which carry no fee at all. Paying in euros, reais or pesos is a different story, because 2% on $500 of foreign-currency spending adds $10, more than three times the 0.3% cashback earns back.
Funding the account costs nothing, since Wallbit charges no fee for USDC or USDT deposits or for bank transfers in dollars or euros. Withdrawing stablecoins back out is where Wallbit charges, from 1% to 2% depending on the coin and plan.
Wallbit charges an inactivity fee of $2 a month only if your account has been idle for three months, holds under $500 and has no investments.
Wallbit Card ATM withdrawal fees
Wallbit Card charges 1% per ATM withdrawal with a $5 minimum, and another 1% when the cash is in a currency other than US dollars.
Because the card is virtual, withdrawals only work at ATMs with a contactless reader, using the card in Apple Pay or Google Pay. The limit is usually $250 per withdrawal, and at that amount the $5 minimum works out to 2%, so a withdrawal in euros costs about 3% before any ATM operator fee. Smaller withdrawals cost more in percentage terms, since $50 still costs $5.
Is Wallbit Card safe?
Wallbit Card is custodial: your dollars sit in a US account held through Wallbit's banking partners, and Wallbit runs the app and the card.
Wallbit says its banking and investment partners are regulated by US financial authorities, and its brokerage providers are members of SIPC, which protects securities and cash in investment accounts if a broker fails. Card payments are recorded in the US tax system, not your local one.
Stablecoins sent to Wallbit become part of your dollar balance, so the protections that matter are those of the US accounts, not of a crypto wallet.
Who should get Wallbit Card
Wallbit Card suits people who earn in dollars or stablecoins, mainly freelancers and remote workers in Latin America, and want a US Visa card for online purchases in dollars. Free stablecoin deposits, no monthly fee and small but uncapped cashback in S&P 500 shares make it a sensible card to keep.
For travel or spending in your local currency, the 2% FX fee outweighs the cashback, and a card with a lower FX fee will cost less. The comparison below shows the alternatives in your country.
Where Wallbit Card is available
Wallbit Card is available in more than 70 countries across Latin America, Europe, the Middle East and Asia-Pacific, but not in India, Israel, Turkey, Ukraine or Vietnam.