One of the strongest free tiers if you’re comfortable taking rewards in ETHFI and keeping funds in a self-custody vault. Skip it if you want cash rewards, or if you’d be tempted to use Borrow Mode without watching your collateral.
Score breakdown
How we read the terms: Free Core tier: first virtual card free (a $10 fee applies in some Latin American, Asian and African countries), 3% cashback up to $2,000 a month. FX scored at 1.5%, the top of Core’s ~1% base plus up to 0.5% markup.
Preliminary score: criteria marked “Not scored” are left out and their weight is shared among the rest. How scores are calculated.
Pros
- 3% cashback on the free Core tier, on the first $2,000 a month
- Self-custody: the issuer can’t move the contents of your vault
- Choice of Direct Pay or Borrow Mode
- Available in the UK, most of the EEA and part of the US
Cons
- Cashback is paid in the ETHFI token, not cash
- Core FX costs about 1% plus up to 0.5% (0% on EUR purchases)
- Borrow Mode interest starts immediately, with no grace period
- The 4% VIP rate needs 500K staked ETHFI or a $500,000 balance
Overview
ether.fi Cash is a Visa issued by Third National. Funds stay in your ether.fi Cash vault: Direct Pay Mode spends USDC or LiquidUSD directly, while Borrow Mode lets you spend against your vault assets as collateral, with interest and a risk of liquidation.
Every tier pays 3% in ETHFI up to a monthly cap ($2,000 on Core, $10,000 on Luxe, $50,000 on Pinnacle), then 1% and 0.5%. Luxe ($199/year) and Pinnacle ($999/year) can be bought or earned through points, staking or a balance; VIP pays 4% and can’t be bought.
Direct Pay Mode spends USDC or LiquidUSD from your vault directly, with no interest. Borrow Mode lets you spend against all eligible vault assets as collateral; interest accrues immediately on the borrowed amount and compounds continuously, with liquidation risk if collateral falls.source
We haven’t run a hands-on test of this card; this review is based on the issuer’s published documents linked on this page.
Card tierssource
| Tier | Stake | Subscription | Cashback | Notes |
|---|---|---|---|---|
| Core | None | $0 | 3% | 3% on first $2,000/month; 1 free virtual card; free physical card (shipping fee) |
| Luxe | 30K ETHFI or $15,000 balance or 5K points | $199/year (optional) | 3% | 3% on first $10,000/month; metal card; up to 10 free ATM withdrawals/month |
| Pinnacle | 150K ETHFI or $100,000 balance or 25K points | $999/year (optional) | 3% | 3% on first $50,000/month; no FX markup |
| VIP | 500K ETHFI or $500,000 balance | Not purchasable | 4% | 4% on first $50,000/month; gold metal card |
Region: global.
Fees and limits
- Card issuance (global)
- First virtual card free on Core ($10 in some regions); physical card free, shipping fee appliessource
- Monthly fee (global)
- $0 (Core); Luxe $199/year; Pinnacle $999/year (optional purchase)source
- FX fee (global)
- ~1% base + 0–0.5% markup (Core); EUR purchases 0%source
- Top-up (global)
- Not verified
- Free ATM per month (global)
- Core: none stated; Luxe and above: up to 10 free withdrawals a monthsource
Fees are quoted from the issuer’s documents for the region shown. Each “source” link opens the issuer’s page; the wording is quoted in the availability table and in the link’s tooltip.
Is it worth it? Quick math
Entry tier, $1,000 a month of everyday spending in the card’s currency, first year, compared with a plain 2% cash-back card. Only the verified figures above are used.
- Cashback earned
- $360
- Card fees (issuance + 12 × monthly)
- $0
- Net value, year one
- $360
- Plain 2% cash-back card
- $240
At this spend, ether.fi Cash earns $120 more than a plain 2% cash-back card. Higher tiers pay more, but may need staking, a balance or a paid plan — see the tiers above.
Cashback paid in a volatile token can be worth more or less when you sell it. FX and top-up fees are not included here.
Availability
| Region | Status | What the issuer says |
|---|---|---|
| US | With restrictions | “Physical card availability: Alabama, Alaska, Arkansas, California, Colorado, ... Wyoming.”source Available in 30 US states and DC. |
| UK | Available | United Kingdom is listed among countries where the Cash card is available. (paraphrased)source |
| EEA | With restrictions | most EEA countries are listed (e.g. Austria, France, Germany, Italy, Spain); Belgium and Ireland without physical card. (paraphrased)source Most EEA countries are listed, but not all (e.g. the Netherlands, Finland and Estonia are missing); no physical card in Belgium or Ireland. |
By country
Other regions listed by the issuer: ~90 countries incl. UK, most EEA, 30 US states plus DC (physical card), Belgium and Ireland: eligible, no physical card, Not listed: e.g. Netherlands, Finland, Estoniasource. Not legal advice; an issuer can refuse any applicant.
How to get the card
- 1Create an accountSign up in the ether.fi app and check that your country is supported.
- 2Verify your identityComplete KYC to get your Cash card.
- 3Fund your vaultDeposit USDC or other supported assets into your Cash vault.
- 4Pick a mode and payChoose Direct Pay or Borrow Mode and add the card to Apple Pay or Google Pay.
ether.fi Cash: common questions
Is ether.fi Cash a credit or debit card?
Both, in effect. Direct Pay Mode spends your stablecoins directly; Borrow Mode borrows against your vault, with interest charged from the start.
What is ether.fi cashback paid in?
In the ETHFI token. You need at least $5 in cashback to claim it.
Alternatives and comparisons
Information only, not financial advice. Crypto assets are volatile. Terms change often — confirm on the issuer’s site before applying.