Founded in 2019 with a mission to simplify and modernize the banking experience, Blackcatcard has emerged as a versatile financial service platform designed for the digital age. Catering to a global audience, Blackcatcard combines a robust mobile application, creating an all-in-one solution for managing personal finances.
The Blackcatcard stands out with its international usability and customer-friendly features. Users can enjoy fee-free cash withdrawals from ATMs worldwide and benefit from competitive exchange rates for foreign transactions. The card also integrates seamlessly with the mobile app, which provides real-time notifications, detailed spending analysis, and advanced security measures like two-factor authentication to protect users’ funds and personal information.
In addition, security and customer support are cornerstones of Blackcatcard’s service offering. The platform prioritizes user security with cutting-edge technologies and provides 24/7 customer support through various channels, ensuring that assistance is always available.
In this review, we will dive deeper into the key features and benefits of Blackcatcard.
Overview
Blackcatcard offers a suite of financial products aimed at providing convenience, security, and flexibility. These include the European IBAN account, which is widely accepted for both online and offline purchases, and a feature-rich mobile app that enables users to monitor transactions, manage budgets, and transfer money effortlessly. The platform also supports multiple currencies and offers various top-up methods, including bank transfers and cryptocurrency, making it an ideal choice for travelers and international users.
Despite its strengths, Blackcatcard is currently only available in the European Economic Area (EEA), limiting its accessibility to a global audience. Additionally, while it offers competitive rates and innovative features, traditional banking services like physical branches are not available.
Whether it’s making online purchases, transferring money, or withdrawing cash from ATMs worldwide, the Blackcatcard ensures a hassle-free experience. Additionally, the app offers real-time transaction monitoring, spending categorization, and budget management tools, empowering users to take control of their financial health.
One of the standout features of Blackcatcard is its international usability. Users can make purchases and withdraw money in different currencies, making it an excellent choice for frequent travelers and expatriates. Moreover, the seamless integration of these services ensures that users have access to their money whenever and wherever they need it!
Pros and Cons
Pros
- No monthly fees or minimum deposits needed
- Cashback availability in various purchases
- Up to 4% p.a. reward on the average monthly balance
- Free card payments in Europe
Cons
- Not a licensed bank
- No deposit insurance on your balance
- No ability to deposit cash
- €15 monthly fee if you do not actively use your card
Account Types
With Blackcatcard, you have two options for current accounts:
- Personal account – free of charge
- Business account – from €25/month to €150/month (depending on the country and having a VAT number)
Personal account
The Personal account plan (free of charge) comes with:
- Euro current account
- No monthly fees or minimum deposits
- Up to 4% p.a. reward bonuses on the average monthly balance
- Cashback availability (5 % at the Google Play Market, 2 % on Amazon, 0.5 % on all card purchases and 3% cashback on bm.market purchases)
- Free card payments in EUR, SEK, CZK, PLN, and RON (3% for card payments in other currencies)
- € 15 per month fee after the 7th month of inactivity
- Free 5 SEPA transfers per month, with no limits on the amount (€ 0,20 fixed cost per transfer after that)
- Free internal account-to-account transfers
- Up to € 200 per month free cash ATM withdrawals in Euros (and 1% fee after that)
- 1% fee for cash withdrawals outside the EU and 3% fee for cash withdrawals in other currencies
Business account
The Business account plan (from €25/month to €150/month) comes with:
- Euro current account
- No reward bonuses on the average monthly balance
- Cashback is not available for businesses
- From €15 to €1500 for opening an account
- From €15 to €250 activation fee
- From €10 to €1000 for an additional IBAN registration
- From €25 to €150 monthly fee
- From €50 to €500 fee for AML/Compliance (quarterly)
- From €15 to €250 fee for IBAN closure
The values will vary depending on the European country and having or not a VAT number!
The same conditions will also apply for SEPA payments, for ATM cash withdrawals limits, and other conditions
How to open an account
In order to use Blackcatcard, you will need to regist and choose if you pretende a personal or business account.
Moreover, you will also be asked to provide the following:
- Be over the age of 16 and be a legal resident of a supported country
- A valid mobile phone number, email address and personal information (current address, date of birth, full name, and citizenship)
- Document for identity verification
- Selfie for account security
- Are able to verify yourself in one of our supported languages
Also, you may be asked a few questions about yourself and the purpose of your account (these questions will not impact your eligibility).
The Blackcatcard Card
No matter which account you choose, your Blackcatcard card will be a debit Mastercard, which you can use to make purchases around the world wherever Mastercard is accepted.
Likewise, you can spend in multiple currencies and get automatic money conversion at near the real exchange rate. Making international purchasing faster and easier.
You can have more than and you can also associate your virtual card with your Apple Pay wallet or Google Pay wallet.
Crypto services
Blackcatcard integrates cryptocurrency services into its financial platform, offering users a range of features designed to enhance their financial flexibility and convenience. One of the standout features is the ability to top up accounts using various cryptocurrencies. This allows users to convert their digital assets into fiat currency directly within the Blackcatcard system, facilitating everyday transactions and access to funds without relying solely on traditional banking methods.
The platform also offers real-time exchange rates, ensuring that users can view and manage their cryptocurrency transactions with up-to-date information.
In addition, Blackcatcard also provides the following:
- Convert Euro to Crypto and vice versa
- P2P crypto transfers with no blockchain fee
- The minimum amount in Euro to buy any of 3 cryptocurrencies is 5 Euro. There is no applied commission
- Only available Bitcoin, Ethereum and Tether
Fees
Personal account fees
The Personal account plan comes with the following fees:
- Free card payments in EUR, SEK, CZK, PLN, and RON (3% for card payments in other currencies)
- Free 5 SEPA transfers per month, with no limits on the amount (€ 0,20 fixed cost per transfer after that)
- Free internal account-to-account transfers
- Up to € 200 per month free cash ATM withdrawals in Euros (and 1% fee after that)
- 1% fee for cash withdrawals outside the EU and 3% fee for cash withdrawals in other currencies
- More fees may also apply
Business account fees
The Business account plan comes with the following fees:
- From €15 to €1500 for opening an account
- From €15 to €250 activation fee
- From €10 to €1000 for an additional IBAN registration
- From €25 to €150 monthly fee
- From €50 to €500 fee for AML/Compliance (quarterly)
- From €15 to €250 fee for IBAN closure
- More fees may also apply
The values will vary depending on the European country and having or not a VAT number!
The same conditions will also apply for SEPA payments, for ATM cash withdrawals limits, and other conditions
Safety Measures
Blackcatcard is issued by Papaya Ltd. licensed by the Malta Financial Services Authority as an Electronic Money Institution (EMI) with the registration number C55146. Therefore, your data is protected with GDPR, and it doesn’t get transferred to third parties.
Moreover, Blackcatcard offers several protective measures:
- Biometric authentication
- Spending limits to avoid unexpected expenses
- The ability to create a one-time-use online card for safe online shopping
- The option to freeze the card instantly
As a result of the fast evolution of new scams, Blackcatcard is continually developing new solutions to combat the latest fraud and scam technologies.
Supported Countries
Blackcatcard only serves personal customers and businesses within the European Economic Area (EEA), offering its innovative financial products to residents across Europe. This localized approach ensures that anyone residing in the E.E.A. can easily access Blackcatcard’s diverse range of banking solutions designed to align with ethical and sustainable principles.
Additionally, this availability means that if you reside in European Economic Area, you can easily open an account and access Blackcatcard wide array of financial services.
Costumer Service
In the app and user account on the website, customers can access the support chat.
However, Blackcatcard has no phone line or email available to contact, which might difficult the resolution of problems and faster responses.
In addition, the website and app have a basic FAQs section and a blog with up-to-date information on the bank’s activities.
Bottom line
For personal users, Blackcatcard offers a compelling and competitive banking option. One of its most attractive features is the absence of monthly fees, making it an affordable choice for everyday banking. Additionally, the platform supports multiple top-up methods, including bank transfers and cryptocurrency, adding flexibility and convenience for users to manage their funds.
However, for business accounts, Blackcatcard presents several disadvantages. Businesses may encounter numerous fees, including higher transaction fees, costs for international transfers, and monthly maintenance fees. These charges can accumulate quickly, making it less cost-effective for companies operating on tight budgets. This is a significant consideration for businesses looking to minimize banking costs and streamline financial operations.
Despite these drawbacks, Blackcatcard shines in several areas. Its international usability is a significant advantage, allowing users to make purchases and withdraw money in multiple currencies with competitive exchange rates. The platform also prioritizes security with advanced measures like two-factor authentication and instant transaction notifications, ensuring that users’ funds and personal information are well-protected.
In conclusion, balancing these pros and cons will help potential users determine if Blackcatcard meets their financial needs and regional requirements.
