Fiat24 card review: closed programme and what holders should do now

Updated October 2026

Licensed

Available in US

Fast payouts

18+ Only

I went through Fiat24’s public pages, the issuer’s terms, and what little third-party reporting I could find to write this review. The short version is that the programme I am reviewing is no longer issuing cards. The site’s product page still shows “Coming soon in December 2024,” and the main domain sits in a maintenance notice that says new applications are not being accepted. That single fact reshapes everything else here: this is less a review of a card you can sign up for today and more a guide to what the programme was, what went wrong, and where holders (and readers who simply cannot get a normal bank card) should look instead.

My overall score is 3.3 out of 10, and I will break down the reasoning in the verdict below. Most of the marks come from the fact that the card still works for people who already have one, with reasonable everyday features. The heavy deductions come from the fact that nobody new can get one, and that the support picture around the programme has deteriorated badly. I will walk through what I found in the same order a person would actually read it: who the card is for, what happened, what holders should do, the risks, and finally the alternatives.

The conditions described below are current as of October 28, 2026.

Verdict

Fiat24 was a Swiss-issued Mastercard debit card that drew on a multi-currency account held in the user’s own self-custody wallet. In principle, that combination was interesting: a regulated card product linked to a non-custodial on-chain account, with the issuing bank supervised by FINMA. In practice, the card never moved past a “Coming soon in December 2024” notice on the products page, and the main site now sits in a maintenance state that explicitly says no new applications. That is the central fact a reader needs before anything else.

The score is 3.3 out of 10. Here is the breakdown, with each criterion and the reason I gave it the mark I did:

I want to walk through how those marks add up, because the score is not a flat rejection. A card that is closed to new applicants but still functions for existing users is different from one that has been switched off entirely. Two of the five marks (Cost and Everyday use) sit at five or six because there is a real product behind them, and the only reason they are not higher is that the official pages do not actually publish the fees and the third-party sources disagree on the digital wallet support. The other three marks are where the problems concentrate.

The 0/10 for accessibility is a clean cut. The whole reason to look at a crypto-linked card in the first place, for most readers, is that they cannot get an ordinary one, and Fiat24 is not open to that audience at all. Reliability pulls the average down sharply because even if a reader already holds the card, the public reporting suggests a real risk that support will not respond when something goes wrong. Cost is a moderate mark rather than a good one because the official pages simply do not publish what it costs to use the card, and a reader cannot rely on the unofficial sources alone.

The audience this page is for is narrow. Existing holders who want to know what to do with their remaining balance are the most important group; I cover that in the “if you already have the card” section. People who are looking for a card because they cannot get a normal one should treat this page as a record of what Fiat24 was, and skip to the alternatives, which are the only practical answer in the present market.

What happened to the programme

I went looking for a clear announcement from Fiat24 explaining the closure and could not find one. The product page still carries the text “Coming soon in December 2024.” The company’s main domain now displays a maintenance-mode notice, and the underlying note on the site says that new applications are not being accepted. There are no dates published for either the start or the end of that maintenance window, which is itself a useful piece of information about how a cardholder should think about timing.

In parallel, the issuer’s regulatory updates describe several changes that take effect during 2026, and reading them gives a sense of the direction of travel. New clients onboarded from 5 June 2026 are described as having a USD 30,000 monthly limit; another part of the documentation says USD 100,000 per 30 days, and those two figures are not reconciled. A refund processing fee of 1 USD, 1 EUR or 1 CHF per refund starts from 15 May 2026, which is a change from an earlier free-refund policy. The terms also describe forced-exit rules: the operator can close the relationship for sanctions, PEP, fraud or recall reasons, and limit-upgrade requests are no longer being accepted. None of these are signs of a programme that is expanding.

The card itself is a Mastercard debit card, issued under BIN 5481 0849 by SR Saphirstein AG, the Swiss entity that is the regulated issuer. The card transactions settle from the available balance in the transaction currency. If the transaction currency is different from the primary card currency, the shortfall is converted from a single chosen default currency, with no split payments across balances. That single-currency shortfall mechanism is the kind of detail that matters in practice, because it determines whether you pay one FX conversion or several on a single purchase. The card is virtual, with no PIN and no physical card or shipping mentioned in the documentation; it is described as valid for five years and renewing automatically unless it has been unused in the six months before expiry.

Card limits are tiered by the length of the user’s NFT account number. Standard tier, with a five-to-eight-digit NFT, allows 10,000 EUR per day and 20,000 EUR per month. Premium tier, with a four-digit NFT, raises that to 100,000 EUR per day and 200,000 EUR per month. Ultimate tier, with a three-digit NFT, reaches 500,000 EUR per day and 1,000,000 EUR per month. The tier rises when the NFT is upgraded through the dApp; the price for the upgrade is listed on the pricing page, paid in Ether or the Fiat24 token, and the upgrade itself is described as completing within one business day. None of these tier numbers change the fact that new applicants are not being accepted, but they matter to existing holders who may need to think about whether their tier still matches their expected spend.

The balances sit in EUR, USD, CHF and RMB. The “Direct Pay” feature spends the matching-currency balance first to avoid the FX conversion. The default card currency covers shortfalls by converting the whole amount in one go, with no split. Refunds in USD, EUR, CHF or RMB return to the same-currency balance; refunds in any other currency convert to the default currency. The amount of the FX fee for those conversions is not stated on the card documentation page. That is a gap a reader should be aware of, because a card that promises “no FX fee” and a card that promises “FX fee not stated” are very different products even if the surface description sounds similar.

There is no dedicated Fiat24 mobile app. The web dApp at app.fiat24.com connects to a self-custody wallet on the Arbitrum network and is the place where the card is managed. There is also a Telegram bot at t.me/fiat24bot for general enquiries. There is no email address or phone number on the site, and the operator’s support languages and hours are not stated. The status page is at status.fiat24.com. A reader who values phone support should not need to read further: it does not exist here.

The single KYC pass on the official side requires a biometric ID or a passport, an age of over 18, proof that the applicant is not a US Person, not a politically exposed person, and not on the OFAC or EU sanctions lists. GPS location is captured at the point of sign-up, a TIN is collected, and only one account per person is allowed. The documentation describes account opening as completing in under one business day during CET hours. Rejection reasons include a domicile or risk profile that does not match the business focus, duplicate registrations, and failing any of the listed criteria. Some users from emerging countries are described as limited to CHF 1,000 per 30 days. The card’s terms do not name a list of eligible residence countries on the card page itself, but the user documentation says residence must be in an eligible country whose list is published at info.fiat24.com/overview, and nationals of Iran, North Korea and Russia are excluded in addition to US Persons.

There is also a live description of the card on the user side that contradicts the products page. The user documentation says the card is live: you activate it in the dApp’s card icon, and it is usually ready in seconds. That sits next to the products page text “Coming soon in December 2024.” A reader can interpret that in two ways. The more generous reading is that the products page is stale and the card is still being issued to existing users. The less generous reading is that the user documentation is also stale and the card is winding down for everyone. I have not seen a definitive statement from the operator, and that uncertainty is, on its own, a material risk for any reader thinking about putting meaningful funds into the system.

If you already have the card

For someone who already has a Fiat24 card and a balance, the next steps are practical rather than speculative. I will walk through funding, withdrawal, daily use and what to watch for.

Activation is done inside the dApp, not on a separate app store listing. The activation flow requires a minimum balance of 10 EUR for users in the Eurozone, 10 CHF for users in Switzerland, or 10 USD for users elsewhere. The minimum payout is 100 EUR or 100 CHF per transaction.

The documented way to put a bank link in place is to send a small deposit from the bank account (IBAN) you want to withdraw to, so the system can link them. Up to ten accounts per currency can be linked. A successful payout is free, but a returned payout costs 10 EUR or 10 CHF, and a refund processing fee of 1 USD, 1 EUR or 1 CHF per refund (7 CNH) is now deducted from refunds as of 15 May 2026, capped at the refund amount. Payouts are booked the same business day if initiated before 15:00 CET on a weekday, and on the next business day for later or weekend submissions.

To close the account, the documented path is to bring all balances to zero, then go to id.fiat24.com, Profile, Close Account. The closure is described as final: no second account is allowed for the same person. KYC data is retained according to Swiss AML law, even after the account is closed, so a reader who has concerns about the operator keeping their data on file should know that closing the account does not delete the data the operator is required to keep.

Card limits by tier are described in the “what happened” section above. The unofficial sources add a different picture: cryptocards.so lists daily spend at $9,800 and monthly as unlimited, which contradicts the official standard tier of 10,000 EUR per day and 20,000 EUR per month. I would treat the official tier numbers as the ones to plan around.

Daily-use features described in the user documentation include Apple Pay, Google Pay and Samsung Pay, and the same documentation says most digital wallets are supported. One unofficial source, cryptocards.so, says Apple Pay and Google Pay are not supported, and that disagreement is one of the reasons I gave the Everyday Use mark of 6 rather than higher. If mobile wallet support is a deciding factor, the safest test before relying on it is to try adding the card to the wallet of your choice and see what happens, rather than to trust either the third-party directory or the documentation.

The operator’s published list of merchant categories that may be restricted includes some types of public transport, utility bills and in-flight shopping in certain countries, and fine dining in the US. The full merchant category restriction list is not stated on the card page itself. The user documentation also notes that payments can be refused for OFAC-sanctioned countries or entities.

Support is the part of the picture I would build a contingency plan around. The published channels are the Telegram bot t.me/fiat24bot for general enquiries, the status page at status.fiat24.com, and the company’s X, LinkedIn, Medium and Telegram presences. There is no email or phone on the site. Languages and hours are not stated. For a reader whose card or balance is the subject of a problem, that is a thin support footprint, and it matches the picture in the user reviews I will describe in the next section.

If I were a current holder, my own priority list would be: (1) link a bank account and verify that a small payout lands; (2) take the balance down to a working amount rather than parking funds in the system; (3) keep the card on the lowest tier that meets the actual spending need, since the value of the card is what it does, not what its tier ceiling allows; (4) keep screenshots of every transaction and every support message, because if the relationship has to be unwound, the documentation will be the difference between a fast recovery and a long one.

What can go wrong

I read the third-party reporting I could find and the official documentation with the same questions in mind: where can this product hurt a user, and what are the warning signs that it already is?

The clearest signal is on the Trustpilot page for Fiat24’s main site, which I reviewed on 2026-10-20. The page lists 2.2 out of 5 from 8 reviews, and every one of those reviews is one star. The earliest is dated 26 April 2024 and the latest 13 May 2026. The themes that come up repeatedly are unresponsive support, with users reporting that emails, Telegram messages and Discord messages went unanswered for stretches of 90 days or more, including reports of the support bot looping without resolving anything. There are also reports of held pre-authorisations or funds that did not get released, of SEPA transfers that were weeks late and that were then re-routed, picking up a fee of around 50 EUR in the process, and of scammers posing as support staff in the project’s community channels.

A second unofficial source, cryptocards.so, lists user reports of invasive identity checks, fees on crypto top-ups, slow support with funds reportedly frozen, and a January 2025 ban on third-party bank deposits for standard users. The page does not link to individual reviews, so I am taking its themes as aggregator notes rather than confirmed complaints. There is no Fiat24 Reddit community I could find, and no Fiat24 Trustpilot page is indexed apart from the Fiat24 official site one.

The official side is not all reassurance. The site being in maintenance mode, the products page still saying “Coming soon in December 2024,” and the user documentation describing a card that is live are all signs of inconsistency in the operator’s own communications. The forced-exit clauses in the terms give the operator room to close relationships for sanctions, PEP, fraud or recall reasons; the refund-fee change and the limit-upgrade freeze are unilateral changes to the product that have already taken effect.

The security model is unusual and worth understanding. The Fiat24 account is an NFT in a self-custody wallet, and sign-in is via a wallet-connect flow. If the private key for that wallet is stolen, the recommendation in the operator’s own documentation is to move funds quickly, which is an honest description of self-custody risk but also a clear indication that there is no central recovery path. The card itself uses 3-D Secure with a one-time password by email, an automatic block for unusual activity, and a user-controlled lock or unlock in the dApp, with each lock or unlock action freezing further changes for 24 hours. None of that is unusual for a regulated card, but it does mean that if the email account associated with the card is compromised, the OTP-based 3-D Secure step is also compromised.

The issuer is SR Saphirstein AG, which holds a Swiss FinTech licence under Article 1b of the Banking Act and is supervised by FINMA. That is a real regulatory anchor, and it is one of the reasons the Reliability mark is not zero. The documentation does not describe any deposit insurance for the card balances, and the legal status of the funds depends on how they are held; the EMI-style framework that typically safeguards customer funds in segregated accounts is not mentioned in the card’s own documentation. I would not assume that a Fiat24 balance is protected the way a Swiss bank deposit would be.

Putting all of that together, the risk profile for a current user looks like this. Operational risk: support is thin and slow, and a card or balance problem can take weeks to resolve if it can be resolved at all. Counterparty risk: the operator is regulated but the product is winding down, and the official pages do not give a clear timeline. Self-custody risk: the account is an NFT in the user’s wallet, and a compromised key means a compromised account, with no central recovery. Compliance risk: forced-exit clauses for sanctions, PEP, fraud or recall can close a relationship with limited notice, and the documentation does not describe a dispute or chargeback procedure for the card.

For a reader who is not already a holder, the simplest version of all of this is that the card programme is closed, the support footprint is weak, and the most useful thing to do is to choose an alternative rather than to wait for a reopening that has not been announced.

What to take instead

The card a reader cannot get is the wrong product to think about, and the right question is which other product replaces it. I looked at three alternatives for the same audience, and I will walk through them in the same order I scored them.

MSX is the highest-scoring alternative at 6.4 out of 10. Official documentation for MSX does not provide a country list, fee schedule, or funding detail, so these features remain unstated. The card type and cost information are also not publicly disclosed by the operator. A reader who wants to compare MSX with Fiat24 should treat the 6.4 mark as a starting point and look for the same five factors: who can get one, what it costs, what tops it up, how reliable the operator is, and how it works day to day.

Cardex is the second alternative, at 5.6 out of 10. Cardex describes a single crypto card available in 200-plus countries, with no specific country list or exclusions published. The card runs on the VERVE, Visa, Mastercard and UnionPay networks and is offered as both virtual and physical; the App Store listing I could read positions the card in Naira, which is a useful signal of where the product is strongest. Cardex spends from a balance that is topped up from USDT, USDC and BTC wallets, with the network not publicly listed. The card’s cost information was not stated, but the site describes an “AI-Powered Conversion Rate” that scans global exchange rates at the moment of payment and picks the best one. The rewards picture was not stated. For a reader who is comparing on the cost axis, the unknown cost is itself the answer until Cardex publishes a fee schedule.

Whop Cards is the third alternative, at 5.2 out of 10. Whop Cards is a Visa product and works anywhere Visa is accepted online and in stores. The consumer product is available in 31 US states: Alabama, Alaska, Arkansas, California, Colorado, Connecticut, Florida, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New York, North Carolina, Oklahoma, Pennsylvania, South Carolina, Texas, Utah, Virginia, West Virginia and Wyoming. The business product is available in 41 US states. The unsupported consumer country list is Belarus, China (Mainland), Cuba, Hong Kong, India, Iran, Iraq, Israel, Myanmar, Nepal, Nicaragua, North Korea, Russia, Syria, Turkey, Ukraine, Venezuela and Vietnam; the corporate list includes Russia and Belarus. The basis (citizenship, residence, or both) is not stated. The card currency is not stated, and the card type (virtual or physical) is not stated, although cards can be issued to team members for a business account. The cost page says “no extra fees,” with no issuance or monthly amounts listed, and the conversion or FX fee amounts are not stated. The card spends from a Whop balance, with a starting data position that is backed by stablecoin collateral from a linked wallet, and the coins or networks are not stated. The published reward is 5% cashback at select merchants, currently Uber, with more planned; the payout currency and conditions are not stated.

If a reader’s underlying need is “I cannot get a normal bank card and I need a way to spend from a stablecoin or fiat balance,” the three alternatives above are the closest fits in the materials I have, and the choice between them depends on geography. A US-based reader has Whop Cards as an option, with the 31-state consumer footprint and a Visa acceptance story. A reader outside the US has MSX and Cardex as the broader-geography options, with Cardex publishing the 200-plus country claim and MSX publishing less geographic detail. None of the three is a direct equivalent of the Fiat24 model, and the costs and limits in particular are not comparable without more disclosure from each operator.

Who I would recommend it to

I want to be direct about who, if anyone, I would point to this card in its current state. The answer is: existing holders who want to wind their balance down in an orderly way, and only existing holders. For new applicants there is no path: the products page says “Coming soon in December 2024,” the site is in maintenance mode, and new applications are not being accepted. For a reader who is choosing a card today, the alternatives above are the only sensible answer, and Fiat24 itself is not a candidate.

For current holders, the recommendation is to plan an orderly exit rather than to wait. That means linking a bank account, verifying a small payout, taking the balance down to a working amount, and keeping a paper trail of every transaction and every support message. It also means treating the tier system as a tool for managing the closure rather than a growth ladder: a higher tier does not help a holder who is leaving, and the upgrade cost is real money spent on capacity that is not being used.

I would not recommend Fiat24 to a reader who is choosing a card to spend from a stablecoin balance on a long-term basis. The maintenance-mode site, the unresolved “Coming soon in December 2024” text, the Trustpilot picture, the thin support footprint and the unilateral changes to refunds and tier upgrades are not the conditions under which a reader should be parking meaningful funds. I would not recommend it to a reader who values phone or email support, who needs a physical card, or who needs a published fee schedule before they start spending. None of those are deal-breakers in isolation, but together they are the shape of a product that is closing down rather than growing.

For a reader who cannot get a normal bank card and is choosing between MSX, Cardex and Whop Cards, the comparison should be on geography first, on cost disclosure second, and on the operator’s regulatory status third. Fiat24’s place in that comparison is as a benchmark for what a Swiss-issued, FINMA-supervised crypto card could look like in principle, and as a cautionary tale for what happens when the operator stops publishing the details a reader needs.

Frequently asked questions

What is the Fiat24 card?

The Fiat24 card was a Mastercard debit card linked to a multi-currency account held in a self-custody wallet, with the issuing bank being SR Saphirstein AG in Switzerland. The card is virtual, has no PIN, and is described in the user documentation as activated inside the dApp at app.fiat24.com. The product page currently still carries the text “Coming soon in December 2024,” and the main site is in maintenance mode with no new applications being accepted.

How does the Fiat24 card work?

The card is virtual and draws on a balance in EUR, USD, CHF or RMB. Transactions in a currency that has a balance are paid from that balance directly; if the transaction currency is different, the shortfall is converted from a single chosen default card currency. The card uses 3-D Secure with an email one-time password for online payments, and supports Apple Pay, Google Pay and Samsung Pay per the user documentation, with one unofficial source disagreeing on the mobile wallet support.

Is Fiat24 a bank?

Fiat24 is not a bank in the colloquial sense. The card issuer is SR Saphirstein AG, which holds a Swiss FinTech licence under Article 1b of the Banking Act and is supervised by FINMA. The user documentation does not describe deposit insurance for the card balances, and the legal status of the funds depends on how the operator holds them, which is not clarified in the card’s official documentation.

Who owns Fiat24?

The card programme is operated by SR Saphirstein AG, a Swiss entity. The Fiat24 product sits on top of an account that is an NFT in the user’s self-custody wallet, so the user owns the account credential rather than holding an account in the conventional custodial sense. The ownership structure of the operating company above the issuer is not described in the materials I had.

Is the Fiat24 card available in my country?

The card documentation does not list eligible residence countries on the card page itself; the user documentation points to info.fiat24.com/overview for the list. Nationals of Iran, North Korea and Russia are excluded, and US Persons are also excluded. Because the programme is in maintenance mode and not accepting new applications, the question of country eligibility is moot for new readers until the operator reopens sign-up.

Does the Fiat24 card require KYC?

Yes. The single KYC pass requires a biometric ID or a passport, proof of being over 18, GPS location, a TIN, and checks that the applicant is not a US Person, not a politically exposed person, and not on the OFAC or EU sanctions lists. The documentation describes the account as opening in under one business day during CET hours, with rejection reasons including an unsuitable domicile, duplicate registration, or failing any of the listed criteria.

How do I top up the Fiat24 card?

The card is topped up through the Fiat24 dApp, and activation requires a minimum balance of 10 EUR for users in the Eurozone, 10 CHF for users in Switzerland, or 10 USD elsewhere. Unofficial sources describe the top-up methods as USDC, USDT and ETH on Arbitrum for crypto, and EUR, CHF, USD and RMB via SEPA, SIC and SWIFT for fiat, with a 1-1.75% fee on crypto deposits plus gas, and roughly a 50 EUR fee reported on some SEPA transfers.

How do I withdraw money from Fiat24?

The documented path is to send a small deposit from the bank account you want to withdraw to, so the system can link them, and then initiate a payout. The minimum payout is 100 EUR or 100 CHF. A successful payout is free, but a returned payout costs 10 EUR or 10 CHF, and payouts are booked the same business day if submitted before 15:00 CET on a weekday, otherwise on the next business day.

Is the Fiat24 card safe?

The card is issued by a FINMA-supervised entity and uses standard 3-D Secure with email one-time passwords and an automatic block for unusual activity. The account is an NFT in the user’s self-custody wallet, so a stolen private key is a compromised account with no central recovery. The user documentation does not describe deposit insurance, and the support footprint is limited to a Telegram bot, a status page, and the company’s social channels.

How do I close my Fiat24 account?

The documented process is to bring all balances to zero, then go to id.fiat24.com, Profile, Close Account. The closure is described as final, with no second account allowed for the same person, and KYC data is retained per Swiss AML law. If you have a balance you cannot move, the support contact is the Telegram bot at t.me/fiat24bot, and there is no email or phone support on the site.

Content created by the «cryptocardselect» team