Image: Kraken

Krak Card by Kraken review: fees, cashback and limits

Name: Krak Card by Kraken
Brand: Kraken

Kraken's low-fee debit card for the UK, Europe and most of the US, with up to 2% back.

By Taimoor, founder and editor Last checked 17 October 2026 6 sources

7.4out of 10

Quick answer

The Krak Card is Kraken's debit card: a Mastercard in the UK and EEA, and a Visa in the US (all states except New York, Maine, Massachusetts and Indiana). There's no annual or transaction fee and Kraken charges nothing for ATM withdrawals. In the UK and EEA there's no FX markup; US cards add 1% on foreign currency. Cashback runs from 0% to 2% based on your average balance across Krak and Kraken, with no monthly cap. Spending crypto rather than cash adds a variable conversion spread.

Krak Card at a glance

Best for	Kraken users in the UK, Europe or the US who keep a decent balance there.
Skip it if	You live outside the UK, EEA and US, or you want cashback without holding a large balance.
Network	Mastercard (UK and EEA), Visa (US)
Card issuer	Monavate (UK and EEA). Lead Bank in the US, with Stripe as program manager.
Custody	Custodial. Crypto stays on Kraken, fiat is safeguarded e-money.
Card type	Debit
Virtual or physical	Virtual (instant) and physical, plus a metal card for top-tier users
Cashback	0% to 2% in BTC, EUR or GBP
Annual fee	None
Apple Pay / Google Pay	Yes / Yes
Identity check (KYC)	Required
Where it works	The UK, about 30 EEA countries and the US (except New York, Maine, Massachusetts and Indiana).

Krak Card fees

Card cost	Free, including the metal card. Metal replacement £/€60.
Annual or membership fee	None
FX and cross-border	UK and EEA: 0%, Mastercard's rate is passed through. US: 1% on foreign-currency purchases plus Visa's rate.
Crypto conversion	Variable spread when Krak converts crypto or a non-primary currency. Spending GBP or EUR is free.
ATM withdrawals	0% from Kraken. The ATM operator may charge.

Visa and Mastercard apply their own exchange rates on top of any card markup. Check the fee page in the Krak Card app for your country before you load money. To see what Krak Card would cost you in a year compared with every other card, try the cost calculator.

What a $100 purchase costs with Krak Card

Not publishedPaid from stablecoins in the card's own currency

Not publishedPaid from stablecoins in a foreign currency

Not publishedPaid from other crypto, like BTC or ETH

$0.50Cashback on $100, Standard tier

These are Krak Card's own fees on the Standard tier, before the card network's exchange rate and any ATM or top-up costs. Its FX markup of 0% is lower than the median of 1% across the 60 cards we track with a published FX fee, and cheaper than 37 of them. For a full year based on your own spending, use the cost calculator.

Where it ranks by our score: #3 of 20 in United States #7 of 36 in Europe (EEA)#6 of 20 in United Kingdom

Cashback and rewards

Based on your 30-day average balance: €200 for 0.5%, €1,000 for 1%, €10,000 for 1.5%, €50,000 for 2%
New customers get 2% for their first 30 days
US cardholders choose USD or BTC for cashback
No monthly cap. Minimum purchase £/€0.49.
ATM withdrawals, refunds and transfers don't earn cashback

Deposits and withdrawals

How to top up

Hold GBP, EUR or any of Kraken's spendable crypto
Bank transfers and salary into Krak
Crypto deposits to Kraken

Fees: No top-up fee. Spending from your main GBP or EUR balance is the only fully free path.

How to withdraw

Bank withdrawals
Crypto withdrawals to any wallet
ATM cash withdrawals

Fees: Kraken's normal withdrawal fees apply. ATM free from Kraken.

Supported assets: GBP, EUR and many of Kraken's 600+ assets.

Where Krak Card works

The UK, about 30 EEA countries and the US (except New York, Maine, Massachusetts and Indiana).

New York, Maine, Massachusetts and Indiana in the US. Countries outside the UK, EEA and US.

United KingdomEurope (EEA)United States

Limits and perks

Limits

Not published

Perks

Krak Vaults with yield (UK only)
Salary Match of up to 1% by tier, where available
Metal card holders get Krak Concierge travel bookings with boosted cashback

Pros and cons

What's good

No annual, transaction or Kraken ATM fees, and no FX markup in the UK and EEA
Cashback in BTC or cash, with no monthly cap
Big, regulated exchange with proof of reserves
Spend crypto or fiat from one app

What's not

Good cashback needs a large average balance
Conversion spread on crypto isn't published
1% FX fee on the US card
Custodial

Our take on Krak Card

Krak is Kraken's spending app, and its card might be the cleanest fee structure among the big exchange cards. There's no annual fee, no transaction fee and no Kraken ATM fee, and in the UK and Europe no FX markup either. If you spend from your main GBP or EUR balance, it's genuinely free.

The US card launched in 2026 as a Visa debit card issued by Lead Bank. It works in every state except New York, Maine, Massachusetts and Indiana, and it adds a 1% fee on foreign-currency purchases, so it's a good everyday card in the US but not a free travel card.

Cashback is tied to how much you keep with Kraken. You need a €1,000 average balance for 1% and €50,000 for the full 2%, although new users get 2% for their first month. Spending crypto rather than cash adds a conversion spread that Kraken doesn't publish, so convert to GBP or EUR first if you care about cost.

One of the best travel cards in Europe from a major exchange, and a solid everyday card in the US. Cashback is a bonus for people who already hold a lot on Kraken.

How we scored Krak Card: 7.4/10

Methodology

Fees 30%

9 No annual, transaction or Kraken ATM fees. No FX markup in the UK and EEA, 1% in the US.

Rewards 20%

6 Up to 2%, but you need big balances for 1% or more.

Control 20%

6 Custodial, with proof of reserves.

Reach 15%

6 UK, EEA and most US states.

Flexibility 15%

9 Fiat and hundreds of crypto assets, with bank transfers.

Recent Krak Card updates

All news

August 2026

Kraken brings the Krak Card to the US

The US Krak Card is a Visa debit card issued by Lead Bank with Stripe as program manager, available in every state except New York, Maine, Massachusetts and Indiana. Kraken charges no ATM fee of its own; foreign-currency purchases carry 1%.

Krak Card FAQ

How much does the Krak Card by Kraken cost?

Free, including the metal card. Metal replacement £/€60. Annual or membership fee: None.

Does Krak Card have cashback?

0% to 2% in BTC, EUR or GBP. Based on your 30-day average balance: €200 for 0.5%, €1,000 for 1%, €10,000 for 1.5%, €50,000 for 2%.

What are the Krak Card FX and ATM fees?

FX: UK and EEA: 0%, Mastercard's rate is passed through. US: 1% on foreign-currency purchases plus Visa's rate. ATM: 0% from Kraken. The ATM operator may charge.

Where is Krak Card available?

The UK, about 30 EEA countries and the US (except New York, Maine, Massachusetts and Indiana). New York, Maine, Massachusetts and Indiana in the US. Countries outside the UK, EEA and US.

Is Krak Card self-custody?

Custodial. Crypto stays on Kraken, fiat is safeguarded e-money.

Sources

Krak pricing (US, EEA and UK)Card, ATM and FX fees by region, checked Oct 17, 2026
Krak: Getting started with the US Krak CardIssuer, excluded states
Krak: US card cashback overviewTiers up to 2%, USD or BTC
SpendNode: Kraken (Krak) card reviewIssuer, fees, cashback tiers, countries, verified Oct 14, 2026
The Paypers: Kraken launches Mastercard debit card in the UK and EEALaunch
Payward: Kraken expands KrakOfficial announcement

We checked these sources on 17 October 2026. Fees and rewards change often. Spotted something out of date? Report a correction and we'll check it within two working days.