---
title: "Stablecoin card fees explained: spread, FX markup, ATM, and hidden costs"
seoTitle: "Stablecoin card fees: spread, FX markup, ATM costs"
description: "How to calculate the real cost of a stablecoin card: spread, FX markup, top-up, ATM, and inactivity fees, with a worked $1,500 example and a checklist."
date: "2026-09-26"
category: "payments"
author: "BlindPay Team"
howto:
  name: "How to calculate the all-in cost of a stablecoin card"
  steps:
    - name: "Estimate monthly spend"
      text: "Write down total monthly card spend, the share spent in a currency other than the stablecoin's, and expected ATM withdrawals."
    - name: "Price the conversion spread"
      text: "Compare the card's conversion rate with the mid-market rate on the same day and apply the difference to all spend."
    - name: "Add the FX markup"
      text: "Apply the card's FX markup to the share of spend in foreign currencies."
    - name: "Add top-up and ATM fees"
      text: "Apply load fees above any free allowance, and ATM fees above any free monthly quota."
    - name: "Add fixed fees"
      text: "Include subscription, inactivity, card issuance, and reissue fees spread over a month."
    - name: "Divide by money moved"
      text: "Divide total monthly cost by the total amount spent and withdrawn to get the effective rate, then compare cards on that number."
faq:
  - q: "What fees does a stablecoin card charge?"
    a: "The usual cost items are the conversion spread between the card's rate and the mid-market rate, an FX markup on foreign-currency purchases, top-up or load fees on prefunded cards, ATM fees above a free quota, and fixed fees such as subscriptions, inactivity, and card reissue. Not every card charges all of them."
  - q: "Is a zero-fee crypto card really free?"
    a: "Rarely. A card can advertise no transaction fee or no FX fee and still earn on the conversion spread. Coinbase, for example, advertises no transaction fees on Coinbase Card spending but notes that a spread applies when crypto is converted. Compare the effective rate, not the headline fee."
  - q: "How much FX markup do crypto cards charge?"
    a: "NGIBANK's March 2026 crypto debit card guide puts FX markup at commonly 1.5% to 3% on crypto cards, versus 0% to 1% on good fintech debit cards. Some cards charge less: KAST's fee page lists 0.5% to 1.75% on non-USD spend. Check the live fee page before choosing."
  - q: "How much are ATM fees on a stablecoin card?"
    a: "Many cards give a small free monthly quota, then charge a percentage. NGIBANK's March 2026 guide gives an example of about EUR 200 a month free, then 1.5% to 2%. KAST's fee page lists $3 plus 2% per ATM withdrawal. The ATM operator may add its own fee on top."
  - q: "What is the conversion spread on a stablecoin card?"
    a: "The conversion spread is the difference between the rate the card uses to turn your stablecoins into the purchase currency and the mid-market rate at the same moment. It is often not listed as a fee, which is why a card can say 'no fees' and still cost you money on every purchase."
---

The real cost of a stablecoin card is the sum of five items: the conversion spread, the FX markup on foreign purchases, top-up fees, ATM fees, and fixed fees like subscriptions or inactivity charges. "No fee" cards often move cost into the spread. Compare cards on one number: total monthly cost divided by money spent.

This guide shows how to calculate that number, with a worked example and a checklist of questions to send any card provider. If you are new to how these cards work, start with [what a stablecoin-backed card is](/resources/more/what-is-a-stablecoin-backed-card).

**Key takeaways**

- FX markup is commonly 1.5% to 3% on crypto cards, versus 0% to 1% on good fintech debit cards, per [NGIBANK's crypto debit card guide](https://www.ngibank.com/en/blog/crypto-debit-card-guide) (March 2026).
- Prefunded cards often charge 1% to 2% per load above a free monthly allowance, per the same guide.
- "No FX fee" can mean the cost sits in the conversion spread instead.
- ATM withdrawals usually have a small free quota, then 1.5% to 2% (NGIBANK), plus any fee the ATM operator adds.
- Always compare the effective rate on your own spending pattern, not the headline fee.

## What fees does a stablecoin card charge?

Most stablecoin cards charge some mix of five cost items. Some are listed as fees, and some are built into the exchange rate.

| Cost item | What it is | Typical range or example | Where to find it |
| --- | --- | --- | --- |
| Conversion spread | Difference between the card's rate and the mid-market rate | Often not published; compare rates yourself | Transaction history vs a mid-market rate |
| FX markup | Extra percentage on purchases in a currency other than the card's | 1.5% to 3% on crypto cards, 0% to 1% on good fintech debit cards (NGIBANK, March 2026) | Fee schedule |
| Top-up or load fee | Charge to load a prefunded card | 1% to 2% per load above a free allowance (NGIBANK, March 2026) | Fee schedule |
| ATM fee | Charge per cash withdrawal | Small free quota, then 1.5% to 2% (NGIBANK); KAST lists $3 + 2% | Fee schedule, plus ATM operator |
| Fixed fees | Subscription, issuance, inactivity, reissue | Varies by provider and tier | Terms and fee page |

**Mid-market rate:** the midpoint between the buy and sell price of a currency pair at a given moment. It is the fairest reference rate and the one to compare a card's rate against.

**FX markup:** a percentage a card adds to the network's exchange rate when you pay in a foreign currency.

## Why can a "zero fee" card still cost money?

Because the spread is a cost even when it is not called a fee. A card that charges nothing per transaction can still give you a worse rate than the market.

Coinbase is a clear example of how the wording works. It advertises no transaction fees on Coinbase Card spending, and its [fee help page](https://help.coinbase.com/en/coinbase/trading-and-funding/coinbase-card/cb-card-fees-tax) notes that a spread applies when crypto is converted. That is a fair disclosure, but it means "no fees" and "no cost" are different claims.

The same applies to "no FX fee". Gnosis Pay is listed by [Coin Bureau's card roundup](https://coinbureau.com/analysis/best-crypto-debit-cards) (updated March 2026) as adding no FX markup beyond the Visa exchange rate. KAST's [fee page](https://concierge.kast.xyz/hc/en-us/articles/9850062738703-What-Are-the-Fees-and-Conditions-for-KAST-Cards-and-Accounts) lists 0% on USD card spend and 0.5% to 1.75% on non-USD spend. Both are specific, checkable claims. Fees change, so read the live page before you choose.

## How do you calculate the all-in cost of a stablecoin card?

Add every cost for a typical month, then divide by the money you moved. That gives you an effective rate you can compare across cards.

1. **Estimate monthly spend.** Total card spend, the share in a foreign currency, and ATM withdrawals.
2. **Price the conversion spread.** Compare the card's rate with the mid-market rate on the same day. Apply the difference to all spend.
3. **Add the FX markup.** Apply it only to foreign-currency purchases.
4. **Add top-up and ATM fees.** Only on amounts above the free allowance or quota.
5. **Add fixed fees.** Subscriptions, inactivity, and reissue fees, spread across the month.
6. **Divide by money moved.** Total cost divided by total spend plus withdrawals.

[Stablecoin FX slippage and live quotes](/resources/more/stablecoin-fx-slippage-live-quotes) explains how to read the gap between a quoted rate and the rate you actually get.

## Worked example: two cards at $1,500 a month

This example is illustrative. The cards are hypothetical and the numbers show the method, not any real provider's pricing.

Assume a cardholder who holds USDC and each month spends $1,500 by card, $600 of it at merchants abroad in another currency, and withdraws $200 from an ATM. Total money moved: $1,700.

**Card A, "no FX fee", just-in-time.** No load fee. Conversion spread of 1.0% on all money moved. No advertised FX markup, but a further 1.5% spread on foreign-currency purchases. ATM 2% with no free quota.

**Card B, prefunded.** Load fee of 1.5% above a $1,000 monthly free allowance. Conversion spread of 0.5% at load. FX markup of 2%. ATM withdrawals free up to $250 a month.

| Cost item | Card A | Card B |
| --- | --- | --- |
| Conversion spread | 1.0% of $1,700 = $17.00 | 0.5% of $1,700 = $8.50 |
| FX cost on $600 foreign spend | 1.5% hidden in rate = $9.00 | 2% markup = $12.00 |
| Load fee | $0 | 1.5% of $700 above allowance = $10.50 |
| ATM fee on $200 | 2% = $4.00 | $0 (within quota) |
| Total monthly cost | $30.00 | $31.00 |
| Effective rate on $1,700 | 1.76% | 1.82% |

The two cards land within a dollar of each other, even though Card A advertises "no FX fee" and Card B shows four fee lines. Change the pattern and the gap opens. A cardholder who spends $1,000 at home and never uses an ATM pays $10 on Card A and $5 on Card B. A traveler who spends all $1,500 abroad and withdraws $200 pays $43.50 on Card A and $49.00 on Card B.

That is the whole point of the method: the cheapest card depends on how you use it. For card programs that also fund and pay out through bank rails, [stablecoin off-ramp fees explained](/resources/more/stablecoin-off-ramp-fees-explained) covers the cost on the cash-out side.

## Which fees depend on the card type?

The funding model and card type decide which fees apply. Prefunded cards charge to load. Just-in-time cards usually charge through the spread at each purchase.

| Card type | Fees most likely to apply |
| --- | --- |
| Just-in-time stablecoin card | Conversion spread per purchase, FX markup, ATM |
| Prefunded or top-up card | Load fee above allowance, spread at load, FX markup, ATM, inactivity |
| Exchange-linked crypto debit card | Spread on the crypto sold, FX markup, possible tier or staking requirements |
| Self-custodial spend card | Network fees to move funds into the card account, FX at network rate or with markup |

[Just-in-time vs prefunded stablecoin cards](/resources/more/just-in-time-vs-prefunded-stablecoin-cards) explains the two funding models, and the [comparison of card types](/resources/more/stablecoin-card-vs-crypto-debit-prepaid-credit) covers the rest.

## What should you ask a stablecoin card provider about fees?

Ask for numbers, in writing, for each cost item. A provider that cannot answer these is hiding cost somewhere.

1. What rate do you use to convert stablecoins at purchase, and how does it compare with the mid-market rate?
2. Is there an FX markup on foreign-currency purchases, and how much?
3. Do you charge to load or top up, and is there a free allowance?
4. What are the ATM fees, and what is the free monthly quota?
5. Are there subscription, tier, or staking requirements to get the advertised rates?
6. Is there an inactivity fee, and after how long?
7. What does a replacement or reissued card cost?
8. Which stablecoins and chains can I fund from, and what does each deposit cost?

## Where does BlindPay fit?

For card program operators, the card fee is only part of the cost. Moving money in from bank accounts and out to local bank accounts has its own spread and fees.

BlindPay covers those two legs. On the way out, it converts USDC or USDT into local currency over Pix, SPEI, ACH, RTP, SEPA, and SWIFT (POBO/COBO). Every payout starts with a [live quote](/docs/payout-quotes) that shows the rate and fees before the stablecoins move, so the operator sees the full cost up front. BlindPay has published plans with no volume floor, and per-transaction fees vary by rail and network and appear in the quote. On the way in, [US virtual accounts](/docs/virtual-accounts) cost $1.50 a month per account and convert each bank deposit into USDC or USDT.

[Stablecoin API pricing explained](/resources/more/stablecoin-api-pricing-explained) breaks down the spread and fee items on the API side.

## How to compare stablecoin cards today

Pull your last three months of card spending, apply the six-step method to two or three candidate cards, and choose the one with the lowest effective rate on your own pattern. Then check the live fee page again before you fund it.

If you run a card program and need to price the funding and payout legs, request a live quote on a free BlindPay development instance through the [payout quickstart](/docs/quickstart-payout). For the full picture of how card programs are built, see [what stablecoin card issuing is](/resources/more/what-is-stablecoin-card-issuing).

## Sources

- NGIBANK, [Crypto debit card guide](https://www.ngibank.com/en/blog/crypto-debit-card-guide), March 3, 2026
- Coin Bureau, [Best crypto debit cards](https://coinbureau.com/analysis/best-crypto-debit-cards), updated March 11, 2026
- KAST, [Fees and conditions for KAST cards and accounts](https://concierge.kast.xyz/hc/en-us/articles/9850062738703-What-Are-the-Fees-and-Conditions-for-KAST-Cards-and-Accounts)
- Coinbase, [Coinbase Card fees and taxes](https://help.coinbase.com/en/coinbase/trading-and-funding/coinbase-card/cb-card-fees-tax)