Embily Debit Card

EMBILY Debit Card Review

The Embily Card is a debit card that lets you pay for goods and services anywhere that Visa is accepted. With the Embily Card, you can top up your account balance with crypto and your coins are automatically converted to Euro (EUR) for seamless spending online and in stores.

But how does the Embily Card work? What are the fees? Is it really the best Bitcoin debit card?

In this Embily Review, I’m going to help you understand the ins and outs of the Embily Card. I’ll discuss how the card works and clue you into its features, fees, and limits. The Embily Card is a physical or virtual Visa debit card that may be used to pay for products and services everywhere Visa is accepted. With the Embily Card, you may top up your account balance at any moment with either cryptocurrency or fiat money, and your funds will be immediately converted to Euros.

 

Pros & Cons

Pros

  1. Convenience: EMBILY debit cards can be used to make purchases and withdraw cash from ATMs, which makes them a convenient payment option for customers.
  2. Security: EMBILY uses advanced security measures to protect customer data and transactions, which can give users peace of mind when using their card.
  3. Rewards: Some EMBILY debit cards offer rewards such as cashback, discounts, or points for purchases made with the card.
  4. Easy access: EMBILY debit cards can be easily ordered online, and there are no credit checks or minimum balance requirements.

Cons

  1. Fees: Some EMBILY debit cards may charge fees for ATM withdrawals, foreign transactions, or other services.
  2. Limited acceptance: EMBILY debit cards may not be accepted at all merchants or ATMs, which can limit their usefulness in certain areas.
  3. Lack of credit-building: Using a debit card does not help build credit, as it is not reported to credit bureaus.
  4. No overdraft protection: Unlike credit cards, EMBILY debit cards do not offer overdraft protection, which means users may face fees or declined transactions if they spend more than the available balance in their account.

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Highlights

  • ATM balance inquiry FREE
  • Card load fee 1%
  • ATM Daily limit 500

Top up with crypto as fast as it gets

Deposit funds to your wallet with crypto in minutes with competitive exchange rates. Just choose a currency from the wide list at your dashboard, copy address and send crypto. It will be automatically converted into USD and deposited to your Embily Card.

Key Features of the Embily Card

The Embily Card is a convenient way to pay for goods and services anywhere Visa is accepted. Some of the key features of the Embily Card include:

  • Simple 1% fee whenever you top up your card.
  • No additional transaction fees on purchases made in the UK or EEA.
  • Lets you top up your card with 6 cryptocurrencies or SEPA transfers.
  • Supports purchases wherever Visa is accepted.
  • Offers a physical card and a virtual card (Apple Pay and Google Pay supported).
  • Automatically converts your crypto deposits to Euro (EUR).
How Do You Get the Embily Card?

Supported Countries

The Embily Card is available in the UK and the EEA. Embily also has plans to launch the card in the US in the coming months.


Supported Cryptocurrencies

Embily currently supports the following cryptocurrencies:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether (USDT)
  • US Dollar Coin (USDC)
  • Binance Coin (BNB)
  • Dai (DAI)

Note that you can deposit the ERC-20, OMNI, and TRC-20 versions of Tether (USDT) into your Embily Card account.

Can You Top Up Your Embily Card With Fiat?

Embily Card Fees

Fees for the Embily Card are fairly straightforward.

Here’s what you can expect.

Account Fees

Getting an Embily Card costs €15 (plastic card) or €6 (virtual card). For plastic cards, Embily offers free DHL delivery.

Embily also charges a €2 monthly maintenance fee per card. So if you have both a virtual and a plastic card, you’ll pay €4 a month in account fees. If you want to close your account, Embily charges €25 per card.

There are two other account-related fees to keep in mind with the Embily Card.

The first fee is a 1% card load fee that’s charged whenever you add crypto to your account, sort of like a crypto conversion fee.

The second fee is a €30 chargeback handling fee that’s charged every time you open a chargeback request. This is a really, really high fee for chargebacks, even when compared to other crypto debit cards.


Transaction Fees

For purchases made in the UK and EEA, Embily’s fees are as follows:

  • Transaction Fee: Free
  • ATM Withdrawal Fee: €1.50

If you use your Embily Card outside the UK and EEA, you’ll pay the following fees:

  • Transaction Fee: €0.15
  • ATM Withdrawal Fee: €1.50 + 0.70%
  • Exchange Rate Markup: 1.5%

You can get cheaper fees with other popular Bitcoin debit cards like the CoinJar Card in the UK (1% fee on all transactions in GBP).

Embily Card Limits

Every Embily Card account has spending limits that vary based on your account tier. The account tiers and limits are:

Tier 1 Tier 2 Tier 3
Daily Spending Limit €2,500 €5,000 €7,500
Monthly Spending Limit €5,000 €10,000 €20,000
Daily ATM Limit €500 €1,500 €2,500
Monthly ATM Limit €2,500 €5,000 €10,000

Embily’s spending and ATM withdrawal limits aren’t bad, but they’re fairly low if you’re a Tier 1 account holder.

All cardholders automatically start out at Tier 1. You can request card limit increases by contacting Embily’s customer service team. To increase your card limit, you need to provide additional information, such as your employment information, source of funds, and proof of your residential address.

The catch?

To increase your card limits to Tier 2, you need to have a verified monthly income of at least €10,000. So if you earn less than €120,000 per year, you’ll be stuck at the Embily Card’s relatively low spending limits.