{"id":624361,"date":"2023-05-12T09:34:18","date_gmt":"2023-05-12T09:34:18","guid":{"rendered":"https:\/\/info.cashtocode.com\/?post_type=product&p=624361"},"modified":"2025-07-04T13:05:03","modified_gmt":"2025-07-04T13:05:03","slug":"binance-card","status":"publish","type":"product","link":"https:\/\/info.cashtocode.com\/en-ca\/reviews\/binance-card\/","title":{"rendered":"Binance card review"},"content":{"rendered":"\n
7.7<\/span>Expert Score<\/span><\/div>
Editor's comment<\/div>The Binance card is a fee-free debit card created by the world\u2019s largest crypto exchange that allows you to easily convert crypto into FIAT for spending or at ATMs. The percentage of rewards you earn depends both on your tiered card level and the amount of BNB holdings in your Binance wallet. The advantage is that over 50 merchants participate in the rewards program with a wide range of shopping categories covered such as fashion, technology, lifestyle and travel. There are no credit checks to obtain the card and you can track all your spending on the modern Binance mobile app. Despite the card\u2019s excellent features, there\u2019s a low daily ATM withdrawal limit, a delivery time of 45 days to receive your card and crypto rewards are only available in BNB.<\/div><\/div><\/div>
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Fees<\/span><\/div>\r\n\t\t\t\t\t\t\t\t
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8.6<\/div>\r\n\t\t\t\t\t\t\t<\/div>
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Limits<\/span><\/div>\r\n\t\t\t\t\t\t\t\t
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6.7<\/div>\r\n\t\t\t\t\t\t\t<\/div>
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Rewards<\/span><\/div>\r\n\t\t\t\t\t\t\t\t
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6.4<\/div>\r\n\t\t\t\t\t\t\t<\/div>
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Security<\/span><\/div>\r\n\t\t\t\t\t\t\t\t
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8.8<\/div>\r\n\t\t\t\t\t\t\t<\/div>
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Support<\/span><\/div>\r\n\t\t\t\t\t\t\t\t
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8.1<\/div>\r\n\t\t\t\t\t\t\t<\/div><\/div>
PROS<\/div>
  • Low 0.9% transaction fee\r<\/li>
  • No annual, maintenance or issuance fees \r<\/li>
  • Easily convert crypto into FIAT for spending or at ATMs\r<\/li>
  • 50 merchants participate in the rewards program\r<\/li>
  • No credit check to obtain the card\r<\/li>
  • Track your spending via the modern Binance mobile app<\/li><\/ul><\/div><\/div>
    CONS<\/div>
    • A low daily ATM withdrawal limit\r<\/li>
    • 45 days to receive your card\r<\/li>
    • Crypto rewards are only available in BNB<\/li><\/ul><\/div><\/div><\/div><\/div>\n\n\n\n

      Fees<\/h2>\n\n\n\n

      The Binance card doesn\u2019t charge conversion fees but you need to pay a low 0.9% transaction fee<\/strong> when you make purchases and you may also be charged additional fees by an ATM operator. The card has zero annual, maintenance or issuance fees but there\u2019s a $35 reissuance fee if you lose your card. <\/p>\n\n\n\n

      Type of fee<\/th>Amount<\/th><\/tr><\/thead>
      Annual<\/td>No fee<\/td><\/tr>
      Topup<\/td>No fee<\/td><\/tr>
      Transaction<\/td>0.9% fee<\/td><\/tr>
      ATM withdrawal<\/td>There may be an additional ATM fee that\u2019s dependent on your ATM operator.<\/td><\/tr>
      Currency exchange (non CAD)<\/td>No fee<\/td><\/tr>
      Account closure<\/td>No fee<\/td><\/tr>
      Reissue card<\/td>$35 <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      Similarly, the Coinbase VISA card has no annual, maintenance or issuance fees but you need to pay a relatively high 2.49% conversion fee<\/strong> when you make purchases with any crypto apart from USDC. ATM withdrawals are free for up to $200 and thereafter you need to pay a 1% domestic withdrawals fee or 2% for international withdrawals. There\u2019s also a low reissuance fee of $4.95 if you lose your card. <\/p>\n\n\n\n

      Limits<\/h2>\n\n\n\n

      The Binance card has a low daily ATM withdrawal limit of $400 <\/strong>but a higher daily purchase limit of $12,500 for the physical card and $1,200 for the virtual card. Although Binance doesn\u2019t disclose its card load frequency limits, any funds you do load onto the card are covered by Secure Assets Fund for Users (SAFU) insurance. Binance hasn\u2019t disclosed its maximum balance limit for the card but there are tiered categories for spending which are divided into seven levels.<\/p>\n\n\n\n

      Type of limit<\/th>Amount<\/th><\/tr><\/thead>
      Free ATM withdrawal<\/td>No limit<\/td><\/tr>
      ATM withdrawal limit<\/td>$400 per day<\/td><\/tr>
      ATM withdrawal frequency<\/td>Undisclosed<\/td><\/tr>
      Max balance<\/td>Undisclosed<\/td><\/tr>
      POS purchase <\/td>$12,500 spending per day<\/td><\/tr>
      Load frequency<\/td>Undisclosed<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      With the Coinbase card, the daily ATM withdrawal limit is capped at $1,000 <\/strong>but you can cash out your funds up to six times a day. You\u2019re allowed a maximum balance of $10,000 and the Terms and Conditions of the card mandate that you can load at a frequency of up to two times a day, four times a week and 10 times a month. The maximum daily purchase limit is $2,500 a day which is quite low but you can contact customer service to change your purchase limit <\/strong>and there\u2019s a verification process you must undertake in order to be approved for this increase. <\/p>\n\n\n\n

      Merchant and POS network<\/h2>\n\n\n\n

      The Binance card uses the VISA network which is available in Canada and at 46 million merchants worldwide. For instance, you can use the card at leading Canadian stores <\/strong>like Sobeys, Loblaws or Tim Hortons. <\/p>\n\n\n\n

      Rewards<\/h2>\n\n\n\n

      The Binance card offers up to 8% rewards on purchases which means you can save money on every transaction made using the card but you can only earn a percentage back in BNB.<\/strong> For example, if you have a monthly average balance of 600 BNB in your Binance wallet, you\u2019re eligible for 8% rewards on your spending. This percentage drops to 4% for the middle tier if you hold a monthly average balance of 40 BNB and 0.1% for the lowest tier which doesn\u2019t require a BNB balance to earn rewards. There\u2019s also a monthly maximum limit on the amount of BNB rewards you can earn which is based on your card tier. The company states that BNB rewards become available in your Binance account within 2-3 days of your purchases. <\/p>\n\n\n\n

      Card tier <\/th>BNB monthly average balance<\/th>Rewards on purchases<\/th><\/tr><\/thead>
      1<\/td>0<\/td>0.1% <\/td><\/tr>
      2<\/td>1<\/td>2%<\/td><\/tr>
      3<\/td>10<\/td>3%<\/td><\/tr>
      4<\/td>40<\/td>4%<\/td><\/tr>
      5<\/td>100<\/td>5%<\/td><\/tr>
      6<\/td>250<\/td>6%<\/td><\/tr>
      7<\/td>600<\/td>8%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      BNB rewards limits<\/h3>\n\n\n\n
      Card tier<\/th>Monthly maximum BNB rewards limit<\/th><\/tr><\/thead>
      1<\/td>5<\/td><\/tr>
      2<\/td>100<\/td><\/tr>
      3<\/td>150<\/td><\/tr>
      4<\/td>200<\/td><\/tr>
      5<\/td>275<\/td><\/tr>
      6<\/td>350<\/td><\/tr>
      7<\/td>500<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      Staking<\/h2>\n\n\n\n

      Binance card users can stake their cryptos and earn rewards as this is available for 27 eligible cryptos. For instance, you can earn annual percentage yields of up to 5% on your Ethereum<\/strong>, 6.3% on Polygon or 10% on Polkadot. <\/p>\n\n\n\n

      Is Binance card safe?<\/h2>\n\n\n\n

      Binance has been in operation since 2017, amassing over 120 million users across the world and has developed a good standing with community members due to the comprehensive security measures it has in place<\/strong>. For example, the platform algorithmically tracks all accounts using real-time monitoring in order to prevent money laundering and financial crime, account access controls limit withdrawals to only certain IP addresses or wallets, while 10% ($1 billion) of all trading funds are stored in a SAFU in order to reimburse users in the event of a hack.<\/p>\n\n\n\n

      Trustpilot<\/td>2.1 star<\/td><\/tr>
      Investopedia<\/td>4.4. star<\/td><\/tr>
      Forbes<\/td>3.8 star<\/td><\/tr>
      Nerdwallet<\/td>3.7 star<\/td><\/tr>
      Business Insider<\/td>4.2 star<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      A low percentage of users (17%) rate Binance with five stars on Trustpilot, which is a low indicator of safety. In addition, the platform experienced large-scale controversy in October last year when $570 million worth of BNB was stolen through a cross-chain bridge hack. The most common issues raised are related to accounts, deposits and withdrawals. However, Binance has received relatively high ratings<\/strong> from various sites like Investopedia and Business Insider, while many people praise them for a great selection of available cryptos, as well as the ability to earn fee discounts through BNB.<\/p>\n\n\n\n

      How to get a Binance card?<\/h2>\n\n\n\n

      Registration<\/h3>\n\n\n\n

      You need to sign up for a Binance account in order to apply for the card and this can be done by:<\/p>\n\n\n\n

        \n
      1. Visiting the website and inputting your full name and email address so you can create a password and start the process. <\/li>\n\n\n\n
      2. After verifying your email address, you need to select if you want to receive marketing emails about products and services.<\/li>\n\n\n\n
      3. You then have to enter your phone number to receive an SMS verification text message.<\/li>\n\n\n\n
      4. After verifying your phone number, you have to complete KYC verification.<\/li>\n\n\n\n
      5. Upon successful registration and passing verification, visit the \u2018Binance VISA Card\u2019 page on the website and click on the \u2018Get started\u2019 option. <\/li>\n\n\n\n
      6. You are then redirected to a page where you can create a PIN number.<\/li>\n\n\n\n
      7. You then need to confirm the name you want to appear on the card and your delivery address in order to receive the card.<\/li>\n<\/ol>\n\n\n\n

        KYC<\/h3>\n\n\n\n

        Multi-step KYC verification is mandatory for all Binance card users in Canada. The company asks you for proof of identity, which can be a drivers license, government-issued ID or passport, as well as proof of address, which can be a utility bill, letter from your local municipality, house rental agreement, tax letter, credit card statement or bank account statement. You must provide a clear and visible picture of the front and back side of your documents and you <\/strong>need to complete f<\/strong>ace verification<\/strong> via desktop webcam or the Binance app.<\/p>\n\n\n\n

        Delivery<\/h3>\n\n\n\n

        You can receive your physical card in up to 45 working days <\/strong>and virtual cards become available for online use within 24 hours of application approval.  <\/p>\n\n\n\n

        Loading or topup Binance card<\/h2>\n\n\n\n

        The card is funded by the cash or crypto balance in your Binance account <\/strong>and the accepted payment methods to fund your Binance account include VISA, MasterCard, bank transfer, Western Union, Binance Pay, SWIFT, Yandex Money, Sberbank, Payeer, M-Pesa Kenya, Monobank, BBVA, BancolombiaS.A, GoPay, OVO, Paytm, IMPS, UPI, LinePay, SEPA, Faster Payment System (FPS), Mercantil, Pago Movil, Provincial, Nequi, PagSeguro, PicPay, Tinkoff, Alfabank, VTB Bank, Rosbank, Raiffeisenbank, Sovkombank, PUMB, UniCredit, Mercadopago, MTS Bank, Privat Bank, Interac e transfer, Gazprombank, Davivienda S.A and Otkritie.<\/p>\n\n\n\n

        CashtoCode eVoucher<\/h2>\n\n\n\n

        You can\u2019t fund your card with a CashtoCode eVoucher as this isn\u2019t offered at Binance.<\/p>\n\n\n\n

        Customer Support<\/h2>\n\n\n\n

        Despite being the largest crypto exchange in the world according to trading volume, customer service options are limited at Binance with only an online Help Center that displays FAQs and a live chat function.<\/p>\n\n\n\n

        Live chat<\/td>24\/7 live chat available in 18 languages.<\/td><\/tr>
        Phone support<\/td>No customer phone line available.<\/td><\/tr>
        Email<\/td>No customer service email available.<\/td><\/tr>
        FAQs<\/td>Available<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

        Binance uses a ticketing system<\/strong> where you need to fill in an online form detailing what type of account you have, whether you\u2019re using the desktop platform or mobile app, language preference, your home address, as well as a subject, description and attachment option. For users who are dealing with emergency account issues, there\u2019s no way to speak with customer service on the phone. However, this is compensated for by the 24\/7 live chat function that\u2019s available in 18 languages. <\/p>\n\n\n\n