Black Cat Card
MastercardcustodialKYC: required
3.0 / 5
Net Reward0.0
Availability5.0
Custody & Risk2.0
Features4.0
UX3.0
Blackcatcard is a prepaid Mastercard aimed at crypto users looking to combine a euro account with digital asset features. Designed for EEA residents, it offers a personal IBAN, integrated crypto wallet (BTC, ETH, USDT, USDC), and both virtual and physical cards managed via a single app.
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Slug: black-cat-card
Our Verdict
European residents who want a no-fee prepaid card with crypto capabilities, crypto enthusiasts who need an easy way to convert and spend their holdings, freelancers and digital nomads who benefit from the free IBAN and international usability, online shoppers who can maximize cashback options, and young adults (16+) looking for their first banking and payment card solution.
Pros and cons
Pros
- No monthly fees or token staking requirements for the standard account
- Generous rewards (up to 4% interest or various cashback options up to 7%)
- Free IBAN account with 5 free SEPA transfers monthly
- Seamless integration between crypto and traditional banking
- Free virtual and physical card issuance
- Worldwide card delivery available
Cons
- Limited cryptocurrency support (BTC, ETH, USDT, USDC only)
- Physical card requires EEA address proof for issuance eligibility
- History of regulatory issues and service disruptions
- 3% foreign exchange fee for non-EUR transactions (except SEK, CZK, PLN, RON)
- €15/month inactivity fee after 6 months of non-use
- Mobile wallet support (Apple Pay, Google Pay, Samsung Pay) currently not available
- Virtual card limited to online purchases only
Supported chains
BitcoinEthereum
Supported cryptos
BTCETHUSDCUSDT
Fees
Monthly: Free for one card; €2/month for additional cards
Issuance: Free (first physical card)
Atm Non Uk: 1% of amount (min €1.50)
Crypto Withdrawal: Network fee (e.g., 0.0005 BTC, 0.007 ETH)
Purchase Transaction: Free (EUR)
Key Features
- Free personal Euro IBAN account with integrated crypto wallet (BTC, ETH, USDT, USDC)
- No-fee Mastercard (virtual and physical) with worldwide acceptance
- Choice of rewards: up to 4% interest on balance or various cashback options (up to 7%)
- No monthly fees or token staking requirements for standard account
- 5 free SEPA transfers per month
- Virtual cards for online purchases, physical cards for worldwide use
- Family card features with customizable limits
- Free worldwide standard card delivery (15-20 business days)
Limitations
- Physical card requires EEA address proof for issuance eligibility
- 3% foreign exchange fee for non-EUR transactions (except SEK, CZK, PLN, RON)
- Limited cryptocurrency support (BTC, ETH, USDT, USDC only)
- History of regulatory issues and service disruptions
- €15/month inactivity fee after 6 months of non-use
- Mobile wallet support (Apple Pay, Google Pay, Samsung Pay) currently not available
- Virtual card limited to online purchases only
- Rewards and interest cannot be claimed simultaneously
Risks
- RegulatoryMaltese Financial Intelligence Analysis Unit (FIAU) fined Papaya €279,000 for AML compliance failures2023
- RegulatoryMaltese authorities investigated Papaya for alleged links to money launderingEarly 2024
- MarketService disruptions including suspension of SEPA transfers for months2024
- CounterpartyCENTROlink terminated its relationship with Papaya following regulatory issues2024
- CounterpartyHistory of account freezes without clear explanation, sometimes with funds locked for extended periods
- SecurityCustodial model - if provider disappears, users lose access to their crypto funds
- MarketCard delivery delays, with some users waiting over 40 days for a new card
Rewards & Cashback
Notes: Rewards and interest cannot be claimed simultaneously. Bonus programs cannot run simultaneously; users must choose one reward option at a time. Minimum €0.10 payout threshold. Referral program: €35 for referrer, €45 for new user.
Cashback Cap: €100/month for general cashback; €50/month for Amazon and bm.market
Reward Token: EUR
Cashback Rate: 0.5% general (requires €50/month spend), up to 5% on Google Play, 2% on Amazon, 3% at bm.market, up to 7% via Cashback Wheel promo
Interest On Balance: Up to 4% per annum on euro balance (alternative to cashback, credited monthly based on average monthly balance)
Excluded Transactions:ATM withdrawals, transfers
Eligibility Requirements: General cashback requires minimum €50/month card spend; excludes ATM withdrawals and transfers
Spending Limits
Notes: Crypto transactions: Buy/sell up to €2,000 per day, €10,000 per month. Individual crypto transfers have min/max sizes (e.g., min 0.001 BTC, max 0.2 BTC per transfer)
Atm Daily: €5,000
Atm Monthly: €10,000
Per Transaction: Up to available balance
Top-Up Methods
Crypto (BTC, ETH, USDT, USDC)SEPA bank transfer
Processing Time: Near real-time for crypto-to-EUR conversions
Banking & Financial Services
✓
IBAN
✓
SEPA Transfers
Free personal Euro IBAN account. 5 free SEPA transfers per month, then €0.20 per transfer. SEPA connectivity via Tompok/TomPay after CENTROlink terminated relationship.
Security Features
Features: Secure login (6-digit PIN or biometric login),3D Secure for online purchases,Instant push notifications for all transactions,Instant block or freeze cards,EMV chip and contactless technology,GDPR compliance for data protection
Insurance: Client funds held in segregated accounts as required by law, though not covered by deposit guarantee schemes
Custody Partners: Manerio UAB
Mobile Wallet Support
iOSAndroidNo mobile wallet support
Best For
European residents who want a no-fee prepaid card with crypto capabilities, crypto enthusiasts who need an easy way to convert and spend their holdings, freelancers and digital nomads who benefit from the free IBAN and international usability, online shoppers who can maximize cashback options, and young adults (16+) looking for their first banking and payment card solution.
Custody Model
custodialPlatform (via Manerio UAB) holds all crypto assets in a custodial wallet. Users do not control private keys at any point. Crypto must be converted to EUR within the app before spending.
Risk: If provider disappears, users lose access to their crypto funds.
Card Issuer & Compliance
Issuer Name: Papaya Ltd.
Kyc Required: true
Issuer License: Electronic Money Institution licensed by Malta Financial Services Authority (MFSA), License number: C55146
Platform Licenses: Malta Financial Services Authority (MFSA) EMI License C55146
Availability
Account opening is global; physical card issuance requires proof of EEA address (no Switzerland), but card shipping can be worldwide. Available in 191 countries. Restricted in 7 countries. Physical cards require proof of address in EEA countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden.
Card Tiers
Personal Free Account (Standard)
PhysicalBlack plastic
18+
Fees
Issuance: Free
Monthly: €0
Mastercard
Cashback: Choice of cashback or interest
ATM Free: €200/month
Free virtual and physical MastercardFree IBAN5 free SEPA transfers per monthIntegrated crypto wallet
Teen Account
PhysicalBlack plastic
16-17 years old
Fees
Issuance: Free
Monthly: €0
Mastercard
Cashback: Choice of cashback or interest
Full-fledged account for young adults5 free SEPA transfers per month
Business Account
PhysicalBlack plastic
Business entity
Fees
Monthly: €15-€1,500 (based on company type)
Mastercard
Dedicated Maltese IBAN(s)Corporate Online BankingMulti-user rightsPayment gatewaySplit-Payments moduleCrypto Brokerage APIMonthly IBAN fee €25-€150 depending on company categoryAnnual card fee €25-€100 per corporate Mastercard
User Ratings
2.8/5.0 (763 ratings)
Trustpilot
3.1/5.0 (3,469 ratings)
Google Play
5.0/5.0 (15 ratings) - not counted
App Store
User experiences notably divided - positive aspects include intuitive interface, generous rewards, good for travelers; negative aspects include account freezes, slow support, delayed transfers, app bugs
Roadmap & Updates
Recent Updates:
- Partnered with new SEPA provider (Tompok/TomPay) to restore service after CENTROlink termination
- Streamlined cryptocurrency offerings in 2024 update
Conclusion
Blackcatcard offers a compelling combination of features that make it stand out in the crypto card market: a free euro account with IBAN, a no-fee Mastercard, an integrated crypto wallet, and generous cashback/interest rewards without requiring any subscription or token staking. This positions it as an attractive option for European residents seeking a low-cost travel card, a secondary account for online purchases, or a convenient way to spend cryptocurrency holdings. However, Blackcatcard's history of compliance troubles and service outages raises concerns about reliability. The platform has experienced significant issues, including suspended SEPA transfers, account freezes, and poor communication during crises. The €279,000 FIAU fine and subsequent regulatory investigations highlight the compliance challenges the platform has faced. For those who understand the associated risks and use the card within its intended parameters (EEA-based, regular activity, compliant funds), Blackcatcard can be a valuable addition to one's financial toolkit.
Card launched: 2019
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