Kraken Card: Frequently Asked Questions

Kraken Card is a Mastercard debit card that lets you seamlessly spend up to 600+ cash and crypto balances anywhere Mastercard is accepted with no transaction fees from Kraken (third-party fees, such as ATM operator charges, may still apply).. The card has generous benefits based on your balance, like up to 2% cashback in local fiat (Pound Sterling or Euros) or Bitcoin on eligible purchases — see the Cashback and rewards section below for tier details and qualifying conditions.

Open the Kraken app and follow the card sign-up flow. You can choose your virtual card color instantly, then you just need to download the Krak app and sign in with the same credentials you use to sign in to Kraken. After signing in simply add your Kraken Card to Apple Pay or Google Pay to get started.

The design on the Kraken Card is the only difference to a Krak Card. Both are Mastercard debit cards that spend from the same Krak Everyday account while your Krak Rewards tier and cashback percentage apply to both. All card management (freeze, spend order, transaction history, cashback settings) is handled in the Krak app for both card types.

Krak is the money app built by Kraken for everyday finance, and is your Kraken Card’s management hub. It's where you view your full card details, transaction history, rewards hub with cashback earnings, card settings – everything you'd expect from a modern money app. You log in with the same credentials as your Kraken account.

Krak app is designed for everyday finance, while the Kraken app is purpose-built for trading.

Kraken Card is currently a virtual card. Your virtual card works for online purchases and in-store via Apple Pay or Google Pay. You can pre-order your Kraken physical card in the Krak App.

Kraken Card is currently available to verified Kraken users in the UK and EEA. You'll need to have completed Kraken's verification process to be eligible.

In the Kraken App, go to the Portfolio tab → Balances section → Everyday balance. In the Krak App, visit the Card section from the home screen to view your card. Your card is also stored in your Apple Wallet or Google Wallet if you added it during setup.

You can add funds to your Krak Everyday balance in a couple of ways:

1. Transfer funds from your Kraken balance
   Seamlessly move funds from your Kraken account to your Krak Everyday balance directly in either the Kraken or Krak app.

2. Add money directly in Krak
   You can also top up your Krak Everyday balance directly from within the Krak app via Apple Pay, Google Pay, bank transfer, or other methods depending on your region.

Your Krak Everyday balance is separate from your Kraken trading portfolio balance. Your card only spends from your Everyday balance, so your trading holdings, staking positions, and other Kraken assets aren't touched unless you choose to move them across.. Think of it as a dedicated spending account you control.

Yes — when you spend crypto from your Everyday balance, it's converted to fiat at the point of sale. You stay in control of how this works in the Krak app by:

• Setting your preferred spend order across assets

• Blocking specific assets from being used for card purchases

There are no transaction fees when you spend with your card in your local currency. Otherwise, Krak includes a spread in the price to sell the cryptocurrencies required to complete each transaction, which helps execute transactions quickly and reliably even during high volatility. View the rates applied in the transaction details screen.

We don't charge FX fees. We pass on the Mastercard exchange rate without a markup.

Krak does not currently charge fees for ATM withdrawals. Third-party ATM fees set by the operator may apply and are usually shown before you withdraw.

Yes. In the app you can set your Spend Order — drag and drop your currencies into the order you want — and block currencies you don't want used.

The Krak app offers 600+ assets, but not all are available for card transactions. Unsupported currencies appear as Unavailable in your Spend Order. You can also hold and spend fiat balances.

For security, your full card number and CVV are only available in the Krak app. To find your details, Open Krak → Card image → View Details. Your Krak account uses the same login as Kraken.

Your card can spend 600+ cash or crypto currencies when you transact, and even 100+ different currencies in one transaction. At the point of purchase, we seamlessly convert your assets, if required, into your region’s currency: GBP (UK), EUR (EEA), or USD (US).

A few things you can do:

1. Check your Everyday balance, you may need to top up.

2. Confirm your card isn't frozen (Krak app → Card Settings).

3. Check your spend and ATM limits in the Krak App. You may have hit your limits.

4. Check the decline message you receive from Krak when you are declined. The details here will let you understand what happened.

If everything looks right and the issue persists, contact support with the merchant name and transaction details.

GBP for UK clients; EUR for EEA clients. All transactions settle in your primary currency, even if you hold other currencies in your Krak account.

Your card is always denominated in your primary currency (GBP (UK) / EUR (EEA). If you spend from a different balance, Krak converts it to your primary currency to settle.

Your cashback earnings are visible in the Krak app. Open Krak → Rewards balance in the top right corner of the Krak Home screen → see your rewards and progress.

Cashback depends on your Rewards tier, which is calculated from the 30-day rolling average of your combined balance across Krak, Kraken, and Kraken Pro.

There are five tiers:
1. Starter (€0 - 199, 0% cashback)
2. Lite (€200 avg balance, 0.5% cashback)
3. Pro (€1,000, 1%),
4. Elite (€10,000, 1.5%)
5. Max (€50,000, 2%)

See here for more information regarding your balances.

Yes. You can choose to receive your cashback in Bitcoin or fiat (Pounds for UK clients, Euros for EEA clients). If you want your rewards compounding alongside your portfolio, select Bitcoin. If you'd rather keep them as cash, select fiat.

You can update your cashback currency preference at any time in the Krak app in the Rewards hub under Cashback settings and in the Card hub. Your selected cashback currency is determined when a card transaction is finalized, so if you change your preference before the transaction finalizes, your cashback will be paid in the newly selected currency.

Yes.

Promotion: New Krak account holders receive Max tier rewards for their first 30 days after creating a Krak account, allowing you to earn 2% cashback from eligible purchases during that period. After the initial 30 days, your rewards tier is recalculated based on the 30-day rolling average of your combined balances across Krak, Kraken, and Kraken Pro.

For more information, see our Krak Rewards FAQ.

There are no annual, monthly or transaction fees, and no hidden charges. Fees that may apply when spending:

1. Spread: Krak includes a spread in the price to sell the assets required to complete each transaction.

2. FX: no Krak FX fees; we pass on the Mastercard rate without markup.

3. ATM withdrawals: no Krak fee; third-party operators may charge.

4. Replacement: There is a GBP (UK) / EUR (EEA) 4.99 fee for card replacement. Replacement cards arrive in 14 days.

Daily, weekly and monthly limits apply to card spending and, where available, ATM withdrawals. Limits vary by region; view yours any time in the app. See the Card Management article for the published limit tables.

Because we convert your assets to your primary currency for each transaction, we return that primary currency to your Krak Everyday account. We don't convert it back to crypto automatically — you can manually convert it back any time in the app.

Yes. Go to the transaction details and tap Get help with this transaction. If your issue is with the goods or services (not the transaction), raise it with the merchant first. See the Disputes and Unauthorized Transactions article for timelines and, where applicable, provisional credit.

1. An offline spend, or a Spend Order including a currency with poor liquidity. Check your Spendable balance, which excludes blocked and unavailable assets.

2. Security verification. If a payment fails, insert your card and enter your PIN rather than using contactless or swipe. UK contactless limit: £300. EEA cumulative contactless limit: €150.

3. Authorisation holds. Some merchants (gas stations, hotels, car rentals, ATMs) place a temporary hold higher than the final amount. Make sure you have enough funds to cover it; holds usually release automatically.

Open the Krak app → tap the Card image to land on Card home > Freeze. Card freeze and other management features are handled in the Krak app.

Krak app is the money app built by Kraken for everyday finance, making it the home for all card management including: freeze/unfreeze, view your card number and CVV, check transaction history, manage spend order, and see cashback earnings. You sign in with the same Kraken username and password, so there's no separate account to create.

Yes. Complete the Kraken verification process before ordering a card.

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

Some clients may experience 3-day withdrawal holds on funds deposited using certain methods, including first-time instant purchases (debit/credit card, Apple Pay or Google Pay), purchases via ACH Plaid, and PayPal deposits for EUR, GBP and USD.