What are the fees associated with using crypto cards in Australia?

Crypto cards are becoming increasingly popular in Australia since they offer a convenient way to spend cryptocurrencies in everyday transactions. However, like traditional credit and debit cards, crypto cards come with various fees that users need to be aware of before making the switch. Whether it’s card issuance costs, transaction fees, or charges for ATM withdrawals, these expenses can add up quickly, impacting the overall cost of using crypto for daily purchases. Additionally, card providers apply different fee structures, with some offering more favorable terms than others. 

This article will explore the most common fees associated with using crypto cards in Australia to help you understand what to expect when using these cards. We’ll also compare the fees of top-rated crypto cards available in the country to give you a clearer picture of which option might best suit your needs.

Types of Fees to expect using Crypto Cards in Australia

There are several card issuers in Australia, and each of them have a different fees schedule, so it really depends on which card you choose to determine the fees associated with. 

However, there are typical sorts of costs that you may expect when using crypto cards for purchases:

1. Card Issuance Fees: Similar to traditional credit or debit cards, some crypto card providers can charge an initial fee for issuing cards. The costs are usually between $0 AUD and $10 AUD. 
2. Transaction Fees: You may incur this type of fee in almost every crypto card. Normally, issuers charge you a percentage of your transaction volume, and fees are divided into two categories:

• Conversion Fees: The way crypto cards work is that they convert your cryptocurrencies immediately at time of purchase, and this process requires a 1 – 3% fee of your transactions. 
• Foreign Transaction Fees: If you use your crypto card abroad, foreign transaction fees may apply (usually 2-3% of the transaction)

1. ATM withdrawal Fees: With nearly 1,200 Bitcoin ATMs around the country, Aussies can withdraw funds with crypto debit and credit cards whenever they want. 

• Domestic Withdrawals: Depending on the providers’ policies, users may need to pay 2-3% of withdrawal amounts for every withdrawal they make. However, they may expect to withdraw for free up to a certain amount as in Wirex cards. 
• International Withdrawals: For overseas withdrawals, fees are generally higher, plus foreign exchange charges.

1. Monthly or Annual Fees: Subscription fees are common fees that customers might expect. Based on the cards you choose you will need to pay per month or per year for this maintenance fee. 
2. Inactivity Fees: Crypto.com, for example, charges a flat fee of $5 AUD per month for inactivity unless activity resumes. Several issuers apply the same policy.
3. Crypto Conversion Spread: In addition to the transparent conversion fee, there is often a spread (the difference between the buy and sell price) applied during the conversion of cryptocurrency to fiat, which can impact the overall cost. 

Fees schedules of Top-rated Crypto Cards in Australia

Below we have listed all the issuance fees, transaction fees, ATM withdrawal fees, and inactivity fees for the top-rated crypto cards in Australia. 

For the full fee schedule of each card, you can refer to their official websites. However not all card providers state their fees clearly, and information in this table is our first-hand experience using these cards and reviews from Aussies on trustpilot.com and reddit.

For some cards, there will be no Inactivity fees since they do not apply this policy, and there are also cards that are available online only, so the ATM withdrawal fee blocks are filled with N/A