Understanding Coinbase Crypto Card Fees: A Comprehensive Guide
1. Annual Fees
The Coinbase Crypto Card does not charge an annual fee. This means you can use the card throughout the year without worrying about a yearly cost.
2. Transaction Fees
- Domestic Purchases: For transactions made within your home country, the Coinbase Crypto Card charges a 2.49% fee. This fee is applied to the total amount of the transaction.
- International Purchases: When you use the card internationally, there's a 3% fee on the total purchase amount. This higher fee reflects the cost of processing transactions in foreign currencies.
3. ATM Withdrawal Fees
- Domestic ATM Withdrawals: When withdrawing cash from an ATM in your home country, there is a $2.50 fee per transaction.
- International ATM Withdrawals: For cash withdrawals at ATMs abroad, the fee is $4.50 per transaction. In addition, international ATMs might impose their own fees.
4. Currency Conversion Fees
- Crypto-to-Fiat Conversion: When you use your Coinbase Crypto Card to pay with cryptocurrency, the card performs a conversion to the local fiat currency. This process incurs a conversion fee of 2.49% of the transaction amount.
5. Inactivity Fees
If your Coinbase Crypto Card remains inactive for a period of 12 months, an inactivity fee of $5.00 per month will be charged. To avoid this fee, simply make at least one transaction every year.
6. Replacement Card Fees
In the event that you lose your card or it gets damaged, you can request a replacement. The fee for a replacement card is $10.00.
7. Overdraft Fees
The Coinbase Crypto Card does not allow overdraft. If you attempt to spend more than your available balance, the transaction will be declined.
Fee Comparison Table
Fee Type | Domestic Fee | International Fee |
---|---|---|
Annual Fee | $0 | $0 |
Transaction Fee | 2.49% | 3% |
ATM Withdrawal Fee | $2.50 per transaction | $4.50 per transaction |
Currency Conversion Fee | 2.49% | 2.49% |
Inactivity Fee | $5.00 per month | $5.00 per month |
Replacement Card Fee | $10.00 | $10.00 |
How to Minimize Fees
- Plan Your Transactions: Be mindful of where and how you use your card to avoid unnecessary fees. For international purchases, consider using a card with no foreign transaction fees if you travel frequently.
- Use ATMs Wisely: To avoid high ATM withdrawal fees, try to use ATMs within your home country or withdraw larger amounts less frequently.
- Monitor Your Account: Regularly check your account to ensure there are no unexpected fees and to keep track of your spending.
- Avoid Inactivity: Use your card at least once every 12 months to prevent inactivity fees.
Conclusion
The Coinbase Crypto Card offers a modern way to spend cryptocurrency with a variety of fees that you should be aware of. Understanding these fees and how they apply will help you use the card effectively and avoid unnecessary costs. By planning your transactions, using ATMs wisely, and keeping your account active, you can make the most out of your Coinbase Crypto Card.
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