In this Blackcatcard review, we will be examining whether or not Blackcatcard is a good fintech banking option.
Background And History
Blackcatcard is a mobile bank that offers an instantly ready EU bank account and a Mastercard, accepted worldwide.
The Blackcatcard is issued by Papaya Ltd. Papaya Ltd is Licensed by the Malta Financial Services Authority as an Electronic Money Institution (EMI) Registration number C55146.
There are two different Blackcatcard Accounts:
SEPA payments to another bank (account to account)
- Free of charge up to 5 SEPA payments per month.
- Starting from the 6th payment - EUR 0,20
- Internal Payment (account to account) - 0 EUR
- Internal Payment (card to card)- 0 EUR
Account maintenance fee
- 0.00 EUR monthly, 5 free Interbank SEPA payments included
(1 IBAN account + 1 card)
- 2.00 EUR monthly, 5 free Interbank SEPA payments included
(1 IBAN account + 1 card + additional cards)0.00 EUR Commission for using mobile bank per month
- Cash withdrawal at ATMs in the EU (Residents of EU): Free of charge up to 200 EUR/month (Then 1% of the withdrawal amount)
- Cash withdrawal at ATMs in the EU (Non-residents of EU): 2% of the withdrawal amount
- Cash withdrawal at ATMs outside the EU (Residents of EU): 1% of the withdrawal amount, minimum 1.50 EUR
- Cash withdrawal at ATMs outside the EU (Non-residents of EU): 2% of the withdrawal amount, minimum 1.50 EUR
- Daily cash withdrawal limit: 5 000 EUR
- Monthly cash withdrawal limit: 10 000 EUR
- Card Top Up: 3,5%
- Dormancy fee: 15 EUR
(Monthly fee after no transactions for more than 6 months)
- 2 euro if less than 2 months have passed since the opening of the account
- 7,00 EUR
- 5,00 EUR
- 7,00 EUR
- 5,00 EUR
- The price depends on the client’s address and it's shown on the App before placing an order.
Accrual of bonuses for operation on the account and card operations
- 2.2% per annum under the following conditions:
(The minimum average monthly balance for bonus accrual is 300 EUR, the minimum card turnover per month is 200 EUR. The limit on the accrual of bonuses - on the amount of the average monthly balance over 100,000 EUR bonuses are not accrued. Bonuses are accrued monthly, based on the average monthly balance).
Cashback for card purchases (excluding ATM withdrawals and transfers)
- 0.1% (min payout 0,05 EUR per month)
Blackcatcard Pros & Cons
- No signup fees
- 2.2% per annum interest or 0.1% cashback on card purchases
- 24/7 fast and effective customer support
- In-app crypto trading
- In-app crypto wallet
- €45 Bonus for new customers
- Unable to hold other currencies apart from Euros and crypto
- High fee for card top-up
- Some customers report delays with incoming transfers
- Users have reported issues when using their crypto services
- Many negative online reviews
Blackcatcard Review: Verdict
The Blackcatcard is a very good fintech banking option, it has very helpful and responsive customer support.
It has some outstanding advantages over its competitors, it has no sign up fees, you can choose to either earn a 2.2% annual interest or a 0.1% cashback on your card purchases, on top of that, you can also trade and hold cryptocurrencies in your app, it would be great if the Blackcatcard allowed its users to hold more currencies such as US Dollars.
The sign up process has some AI issues, if you encounter these problems while trying to sign up, just be patient and keep trying, eventually, it will work.
When topping up your card, we suggest you do it by bank transfer, by doing so, you will save on the 3.5% card top-up fee.
If you ever encounter issues or delays with incoming transfers, make sure to get in touch with the Blackcatcard 24/7 customer support, they are extremely responsive and very helpful!
If you'd like to get a Blackcatcard account with a free card, free delivery, and earn €45 sign up bonus, simply follow the link below!