Limited to 30 European Economic Area countries, covering EU member states plus Iceland, Liechtenstein and Norway. Applicants must be at least 18, live in the EU or EEA and hold a Phemex wallet account. The official website says "more regions coming soon" but publishes no list of later regions or timetable; each user can apply for only one card.
Key Profile Facts (Categorized)
Fee & Exchange Rate Structure
- Public Fee Summary
- The official fee schedule has only three entries, all free: card issuance free, annual fee free and account closure free; the product page also states a zero monthly fee (0 monthly fee), so there is no monthly fee, annual fee or card production fee. The real cost sits in the markup applied at settlement: the official text says non-USD transactions are converted at the card network's benchmark rate and may carry a standard point spread, and crypto-to-fiat conversion is likewise priced as a "dynamic markup", but the fee schedule itself gives no percentage, so this site fills in no figure and does not read the card as free. Spending limits are platform defaults that users can only lower, not raise: US$5,000 per transaction, US$5,000 per day, US$30,000 per month and US$100,000 per year. The dispute filing fee is US$25. The issuer states explicitly that fees already incurred on a transaction are not refunded if it is later refunded, and refunds are returned to the Spot Account in USDC. The card is a virtual card and does not support ATM withdrawals, so there is no withdrawal fee.
- Debit / Deduction Model
- A USD virtual debit card charged directly against the exchange account: there is no separate card balance and no top-up step, and spending is deducted from the Phemex Spot Account through automatic conversion, defaulting to USDC → USDT with the order adjustable in the account
Application Eligibility & KYC
- KYC Identity Verification
- KYC required. Applicants must hold a Phemex wallet account and pass identity verification, and address verification is also required: the official website lists 12 designated EEA countries (including Germany, France, Italy, Spain, the Netherlands and Poland) whose applicants enter their address directly on the application page, while the remaining EEA countries require uploading proof of residence issued within the past 3 months, which may be bank documents, utility bills or government tax/pension notices.
- Officially supported countries and regions
- Limited to 30 European Economic Area countries, covering EU member states plus Iceland, Liechtenstein and Norway. Applicants must be at least 18, live in the EU or EEA and hold a Phemex wallet account. The official website says "more regions coming soon" but publishes no list of later regions or timetable; each user can apply for only one card.
Payment Compatibility & Issuer Rails
- Card Network & Rails
- Mastercard (virtual debit card). The issuer says it works worldwide at 150M+ merchants that accept Mastercard; the terms do not separately identify the BIN sponsor.
- Issuer Arrangement / Payment Rails
- IMMERSVE LIMITED (New Zealand; also the programme manager), issuing under licence from Mastercard. The card BIN is not published, and this page does not speculate on it.
- Apple Pay / Google Pay
- The official help page gives the steps for adding the card to Apple Pay, supporting iPhone 6 and later, Apple Watch, iPad and Mac; the product page FAQ also confirms it can be linked.
- Overseas AI Subscriptions
- The official material does not separately address AI subscriptions or online subscription scenarios. The card is a debit card usable at online merchants that accept Mastercard, but the issuer has not written subscription use into any commitment, so this site does not treat it as supported.
Spending Rewards & Cardholder Perks
- Cashback & Reward Rules
- VIP users 1%, standard users 0.25%; during campaigns VIP can reach up to 3%. The issuer states the programme has no monthly cap, that cashback is paid in USDT and credited to the Spot Account on the 10th of the following month (UTC), and that frozen cards have payouts delayed. Merchant categories excluded from cashback: financial/investment, quasi-cash and crypto-related, gambling, government services, education, insurance, business services (NEC) and professional services (NEC). Refunds claw back cashback already paid on a pro-rata basis, with any shortfall deducted from later cashback. The issuer defines the programme as a promotional incentive that can be changed at any time, so the rates above are not a long-term fee commitment.
This is a summary of the cited public information, not a complete list of fees or regions and not a guarantee of approval or card access.
Issuing, mobile wallets and AI subscriptions
- Card network listed in the comparison source
- Mastercard (virtual debit card)
- Issuer arrangement / BIN
- IMMERSVE LIMITED (New Zealand; also the programme manager), issuing under licence from Mastercard. The card BIN is not published, and this page does not speculate on it.
- Apple Pay
- ✅ Explicitly stated in official materials: the official help page gives the steps for adding the card to Apple Pay, supporting iPhone 6 and later, Apple Watch, iPad and Mac; the product page FAQ also confirms it can be linked.
- Google Pay
- ✅ Explicitly stated in official materials: the same help page gives the steps for adding it to Google Pay, requiring Android 7.0 or later with NFC; the product page FAQ confirms it can be linked.
- AI subscriptions such as ChatGPT and Claude
- — Not specified by official sources: the official material does not separately address AI subscriptions or online subscription scenarios. The card is a debit card usable at online merchants that accept Mastercard, but the issuer has not written subscription use into any commitment, so this site does not treat it as supported.
Compatibility information for this card was verified on 2026-10-14 against the sources listed on the card profile; undisclosed items are marked "Not stated officially". Status symbols preserve source statements; "Not stated officially" does not mean unsupported, and community reports do not guarantee stable availability.
See the full comparison of 139 cards · Use BIN & Issuer Inspector
Mobile Apps & Privacy Compliance
Independent verification of mobile client presence, global app store availability, privacy disclosures, and account deletion / data erasure rights.Mobile Clients & Official Download Channels
- Client App
- Phemex: Buy Crypto & Stocks (Leading Magic Limited)
- Web Portal Support
- Full Web Portal (Cards Supported) — The phemex.com web portal covers registration, KYC and trading; the cardholder terms state the card can be applied for, frozen and closed on the website or in the app; the official site also offers an Android APK download (the app cannot be downloaded from Google Play in the EU)
- Apple App Store
-
App Store Official Download ↗ Excludes Mainland China; Missing from key markets: the Philippines, Indonesia, South Korea, India, the United Kingdom, Australia
- Google Play
-
▶ Google Play Official Download ↗ Not downloadable in any of the 27 EU countries; also missing the United Kingdom, the United States, India, Indonesia, South Korea and Palau
Data Compliance, Privacy Labels & Account Erasure
- Regulations & Rights
-
Explicit GDPR Compliance
Phemex privacy policy: for EEA, UK and Swiss residents, processing rests on the lawful bases in Article 6 GDPR; rights of access, rectification, erasure, objection and restriction of processing can be exercised through Online Chat, and complaints lodged with the European Data Protection Supervisor (EDPS) or the national supervisory authority; card data is controlled by the Programme (programme manager IMMERSVE LIMITED) with the issuer as joint controller, automated anti-fraud decisions may be made, and data may be transferred to the issuer group and to UK and EU regulators
- Official Privacy Policy
- Official Privacy Policy ↗
- Data Retention
- Retained while the account remains open, then for as long as AML/KYC and other legal obligations require (no fixed period stated)
- App Store Privacy Label
- Used to track: Diagnostics; Linked to you: 0 categories; Not linked to you: 1 categories
- Google Play Data Safety
- No third-party data sharing; Claims no data collected; Deletion can be requested; Data not encrypted
- Account Deletion Flow
-
Web: phemex.com/account/security → Delete Account, self-service; logging back in within 30 days restores the account. Before closing, cancel open orders, withdraw assets and delete API keys. The card can be closed at any time on the website or in the app, effective immediately (cardholder terms 18.1), without affecting the wallet balance. Google Play declares that deletion can be requested.
Verified on 2026-10-13. App store availability and privacy disclosures are independently verified from official developer stores and privacy policies; store availability may vary dynamically by region.
Why it is classified as an exchange card, not an independent wallet card
The classification follows the funding path, not the brand type: the card has no separate card balance, spending is charged directly against the exchange Spot Account, and the charge order and conversion rules are set inside the exchange account. That differs from self-custody and independent-wallet products, which load funds onto the card first and then spend from it, so it falls under the exchange-card category and is compared alongside similar cards from Bybit, OKX, Kraken and others. [2]
The card is free; the cost is not
Three free entries are easily read as "zero cost", but the issuer also states that crypto conversion and non-USD transactions carry a markup, without publishing the rate. The card's cost structure is therefore "fixed card fees at zero, floating conversion cost unknown". For users who spend in US dollars and hold only USDC, the conversion step is minimal; for users who frequently make non-USD transactions, the real cost depends on the unpublished markup. This site records the free items and the unpublished items side by side, so that "free to open" is not read as "free to use". [1] [4]
The two thresholds for applying in the EEA
First, residence: the issuer publishes a supported list of 30 EEA countries and requires applicants to be over 18. Second, address verification, which has two routes — applicants in 12 designated countries enter their address directly on the application page, while the remaining EEA countries require uploading proof of residence issued within the past 3 months (bank documents, utility bills or government tax/pension notices). Once verification passes, the card is issued immediately with no activation step. [3]
Frequently asked questions
Is the Phemex Card a credit card?
No. The cardholder terms state it is a debit card that can only draw on assets in the Phemex wallet; it is not a credit card, charge card or guaranteed card, and it is not linked to a bank account, so there is no credit limit or repayment.
Does the Phemex Card have annual and monthly fees?
The official fee schedule lists the issuance fee, annual fee and account closure fee as all free, and the product page additionally states a zero monthly fee.
Are Phemex Card fees really all waived?
No, not all of them. What is free is the fixed card-issuance fees. Crypto-to-fiat conversion is priced with a dynamic markup, and non-USD transactions are converted at the card network's rate and may carry a standard point spread; neither publishes a percentage, so the real cost cannot be calculated before applying.
Who can apply for the Phemex Card?
Phemex wallet account holders aged 18 or over who live in the EU or EEA, across 30 EEA countries. Applications require identity verification and address verification, and each user can apply for only one card.
Does the Phemex Card support Apple Pay and Google Pay?
Yes. The official help pages give the linking steps for both wallets, and the product page FAQ also confirms they can be linked.
Can the Phemex Card be used for ATM withdrawals?
No. The card is a virtual card, and the official application page states that ATM withdrawals are not supported, so there is no withdrawal fee either.
How is Phemex Card cashback calculated and paid out?
VIP users 1% and standard users 0.25%, with VIP up to 3% during campaigns; it is credited to the Spot Account in USDT on the 10th of the following month (UTC) with no monthly cap, but financial and investment, quasi-cash and crypto-related, gambling, government services, education, insurance, and business and professional services categories are excluded, and refunds are clawed back proportionally.
Are Phemex's "Buy Crypto" and "Sell Crypto to Card" the same as this card?
No. Both are separate features whose fees and rules are not shared with the Phemex Card, and this site does not record them as terms of this card.
📜 Rules & Fee Changelog History
Continuous Tracking · Historical Evidence BaseCommunity posts
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