Grey Card
Grey · Visa
Data verified on unchanged since the sources
Worth it if you need a multi-currency USD/EUR/GBP account with an IBAN and a dollar Visa card for online purchases: a one-off $4 issuance and no monthly fee.
Avoid it if you need to withdraw cash or a physical card: only the virtual version exists and cross-border transactions cost up to 2% plus $0.50.
Grey (formerly Aboki Africa) is a multi-currency neobank built to give African users foreign accounts in USD, EUR and GBP with an IBAN plus a virtual USD Visa card for online payments. The card is virtual-only, costs a one-time $4 at creation (plus $1 loaded onto the balance) and offers no ATM withdrawals. Spending in the held currency carries no markup, while cross-border transactions incur an FX fee. The card monthly fee is not separately documented, though Grey states there are no recurring card fees. The exact number of countries served by the card is not unambiguously documented.
Data & conditions
§ Amounts in USD/GBP are shown in the service's native currency.
| Account fee | Free |
|---|---|
| Multi-currency | USD, EUR, GBP |
| Network | Visa |
| ATM withdrawal | Free |
| Free ATM limit | Nessun prelievo ATM (carta solo virtuale) |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | AFRICA, US, EEA, UK, LATAM · 0+ countries |
| Regulator | FinCEN (US) / FINTRAC (Canada) |
| Segment | B2C |
| Funding / solidity | Grey (formerly Aboki Africa), founded in 2020. US services are offered by Grey Inc. (Middletown, Delaware) and Canadian services by Grey Finance Inc. (Vancouver, BC). Foreign bank accounts and global payments for users in Africa, the US, Europe, Latin America and South-East Asia. |
| MiCA / License status | FinCEN MSB (US)FINTRAC MSB (Canada) Grey operates as a Money Services Business (MSB): Grey Inc. is registered with FinCEN in the United States and Grey Finance Inc. with FINTRAC in Canada. |
Strengths
- Multi-currency USD/EUR/GBP account with IBAN and a virtual USD Visa card.
- Cheap issuance ($4 one-time) and no monthly card fee.
- Foreign-banking access designed for otherwise excluded African users.
- No notable sovereignty advantage documented.
Weaknesses
- Virtual card only: no ATM withdrawals and no physical card.
- Custodial service with mandatory full KYC.
- FX fee (up to 2% + $0.50) on cross-border transactions.
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (Grey operates as a Money Services Business (MSB): Grey Inc. is registered with FinCEN in the United States and Grey Finance Inc. with FINTRAC in Canada.): reporting to authorities and freezes on order.
Verdict
Custodial service with full KYC: funds are not self-custodied. Grey operates as an MSB registered with FinCEN (US) and FINTRAC (Canada), AML registration regimes that do not offer the same deposit protection as a traditional bank.
Very low sovereignty: fully custodial service, mandatory KYC, virtual-only card tied to a centralized neobank account. The user controls neither the keys nor the funds.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
Reputation
What happened to people who used Grey Card, and what users say. External signals: they do not feed the promp.it rating.
Incidents & regulatory actions
No known incidentSearch across public sources: no known hack, withdrawal freeze or regulatory action as of the verification date.
verified on
Public reviews
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App Store ↗
4.6/5
12,546 reviews
Nigeria storefront (primary market), app id 1611983085, seller 'Grey Incorporated'. Rating covers the whole Grey app (multi-currency accounts + virtual Visa card), not the card alone. Separate US storefront: 4.59/5,758.
Weighted average across 1 public review platform (12,546 reviews in total), weighted by volume. This is not our rating: it is those platforms’ average.
FAQ
Is the Grey card physical or virtual?
It is a virtual-only card (a USD Visa) for online payments; there is no physical version and no ATM withdrawals.
How much does it cost to create a Grey card?
Creation costs a one-time $4, plus $1 loaded onto the card balance. There are no recurring monthly fees; spending in the held currency carries no markup, while cross-border transactions incur an FX fee of up to 2% + $0.50.
Sources
- Official service page Payment network · Fee emissione · Multivaluta · Virtual card · +1 Data verified on Jun 22, 2026
- en.wikipedia.org Regulator · Azienda info · Paesi num Data verified on Jun 23, 2026
- support.grey.co Supported currencies · Paesi num Data verified on Jun 23, 2026
- monierate.com Fee emissione · Fx markup · Paesi · Company profile Data verified on Jun 22, 2026
Show 1 more source
- todey.xyz Fx markup · Custodial · Kyc · Issuer · +1 Data verified on Jun 22, 2026