Krak Card Frequently Asked Questions

The Krak Card is a Mastercard debit card that lets you spend cash and crypto (400+ currencies), from your Krak Everyday account balance, anywhere Mastercard is accepted - online, in-store, and at ATMs in over 190 countries worldwide.

To get a Krak card you must have a verified Krak account.

At the moment, Krak Card is only available to personal accounts and residents of the UK and EEA, with more countries coming soon!

Both! Once approved, you’ll get access to a virtual card instantly to start spending online, and you can add to an Apple/Google wallet to spend in-store. You can also order a physical card, available in coral or black, to spend in-store and at ATMs.

Learn more → Activating your Krak Card

You can add Krak Card to Google and Apple pay.

You can choose a sleek Coral or Black design when ordering your physical card.

Krak Card uses your Krak Everyday balance based on your Spend Order - which is a list you set in-app - to convert the first available asset to your card’s primary currency. This is GBP for UK clients, and Euro for clients in Europe.

If the first asset doesn’t fully cover the amount, we’ll move down the list and combine funds from your subsequent asset(s) to complete the transaction.

If crypto or a non-primary fiat currency is used, it’s converted to your card’s primary currency at the moment the transaction is authorized, which gives you certainty on the rate used at the time of purchase.

Zero transaction fees: There are no transaction fees when you spend with Krak Card across the 400+ assets available.

Krak does include a spread in the price to sell the assets required to complete each transaction. This helps to execute card transactions quickly and reliably, even during periods of high price volatility. View the rates applied to a transaction in the transaction details screen in the Krak app.

FX fees: We don't charge FX fees when you spend in foreign currencies. We pass on the Mastercard exchange rate without markup.

ATM withdrawals: Krak does not currently charge fees for ATM withdrawals.

3rd party ATM fees: These are set by external ATM providers (not Krak) and are usually shown before you withdraw.

Yes. In the app, you can set your Spend Order, just drag and drop your currencies into the order you want. You can also block currencies from being used, like if you’d prefer to stack your Bitcoin rather than spend it.

Krak app offers 400+ assets that you can send to your friends, but initially, not all will be available for card transactions. In your Spend Order settings, unsupported currencies will appear as “Unavailable”.

Yes. You can hold and spend fiat currencies like GBP, EUR, and others just like crypto.

If you’re in the UK, it’s GBP. In Europe, it’s EUR.

All transactions settle in your card’s primary currency, even if you hold other currencies in your Krak account.

Krak lets you hold multiple fiat currencies, like EUR, USD, or GBP, but your card is always denominated in your primary currency (e.g. GBP for UK cardholders, EUR for EU cardholders). That means every card payment will be settled in your primary currency.

If you’re traveling in Europe with a GBP-denominated card and choose to spend from your EUR balance, Krak first needs to convert your EUR into GBP to settle the transaction. Remember: Krak does include a spread in the price to sell the assets required to complete each transaction but do not charge FX fees, simply passing on Mastercard’s FX fee.

In short: even if you hold the local currency, spending it from a card with a different primary currency requires conversion, and that can trigger both a Krak conversion fee and a Mastercard FX fee.

Krak lets you hold multiple fiat currencies, such as EUR, USD, or GBP. However, your card is always set to your primary currency (for example, GBP for UK cardholders or EUR for EU cardholders). This means all card payments are settled in your primary currency.

If you’re traveling in Europe with a GBP card and choose to spend from your EUR balance, Krak first converts your EUR into GBP so the payment can be completed. Please note that while Krak includes a spread when selling the assets needed to complete a transaction, we do not charge extra FX fees when you spend in foreign currencies. We pass on the Mastercard exchange rate with no markup.

Yes. While Krak Card has no annual/monthly fees, no transaction fees, and no hidden charges, fees apply when spending with Krak Card:

Please note that Monavate (the card issuer) may charge you a fee if you end your agreement with them by cancelling your card, if the agreement has been in place for less than six months. See here for more information.

Daily, weekly, and monthly limits apply to both card spending and ATM withdrawals. These limits vary by region, and you can view them anytime in the Krak app.

Because we convert your assets to your primary currency for each transaction, we return that primary currency back to your Krak Everyday account.

If crypto was used in the initial transaction, we avoid unnecessary fees for you by not converting it back to crypto again. You can manually convert it back to the asset of your choice any time within the app.

Yes. Head to the transaction details in your Krak app and tap “Get help with this transaction.” If, however, you have an issue with a good or service purchased from a merchant (as opposed to the transaction), such a dispute should be raised directly with the merchant.

While we do everything we can to make transactions succeed, they may fail for a variety of reasons, many of which are out of our control.

• For instance, you may be attempting an offline spend or your Spend Order might include a currency that had poor liquidity and despite best efforts, we weren’t able to complete a trade for the local fiat currency required to facilitate your transaction. You can check and adjust your Spend Order in the app to see your card’s Spendable balance, which excludes blocked and unavailable assets.
• Some transactions require additional security verification. If a payment fails, try inserting your card and entering your PIN instead of using contactless or swipe. This is often required due to terminal security rules or contactless limits (UK clients: £300; EEA clients: €150 cumulative contactless limit). If the transaction still doesn’t go through, try another terminal or contact support.
• Some merchant, such as gas stations, hotels, car rentals, and ATMs, may place a temporary authorization hold that is higher than the final transaction amount. Please ensure you have additional funds available in your account to cover this hold. Authorization holds are usually released automatically once the merchant completes or cancels the transaction. If an authorization hold does not release after the merchant has completed or canceled the transaction, please contact merchant for assistance.

Yes, Krak Card works at most ATMs worldwide that accept Mastercard. You can withdraw funds just like a traditional debit card. Your ATM limits are shown in the app. 3rd party ATM fees may apply. These are set by external ATM providers, not Krak, and are usually shown before you withdraw.

Note: withdrawal holds may apply to only the amount deposited when using certain deposit methods.

You can see how much you have available to spend on your Krak Card by checking your Spendable balance, found in the Card section of your app.

Spendable balance is your Everyday balance minus blocked assets, holds, and those unavailable for card use. Manage blocked assets anytime in your card spend order. You can deposit at any time within the app.

Yes. You can freeze, unfreeze, or replace your physical card in the app.

Please note that the card issuer, Monavate, charges a fee of $4.99 (or equivalent card currency) for card replacement.

You can cancel your physical and/or virtual Krak Card at any time by contacting Kraken Support and requesting card termination.

Please note that virtual and physical cards are managed separately. If you would like to fully discontinue your use of Krak Card services, each card must be canceled individually.

Freeze it in-app immediately until you find it. If it is lost, you can report it lost and order a replacement.

Yes, Krak Card is available to Everyday account holders in both a virtual and physical version. You can only have 1 virtual and 1 physical at a time.

Yes, you will need to complete Krak’s verification process before ordering a card.

Absolutely! We use 3D Secure (3DS), instant freezing, and real-time spending alerts to keep your card secure.

Yes. Some clients may experience 3 day withdrawal holds on funds deposited using certain methods outlined below: