Nexo Card Base (no NEXO)
A plan byNexo Card
Nexo offers the best free ATM limit in its Tier A bracket, at €2,000/month, with a dual credit/debit mode. However, one must weigh its history of regulatory enforcement, the suspension of the physical card and a 0.7% weekend FX surcharge.
Worth it if you withdraw cash often: €2,000/month of free ATM is the best limit in its tier.
Avoid it if you need a physical card (currently suspended) or the regulatory enforcement history is a dealbreaker.
Base (no NEXO)
- Price
- Free
- Issuance fee
- Free
- FX markup
- 0.2%
- Cashback
- 0.5%
- Cashback currency
- NEXO
- Required staking
- Nessuno
- ATM fee
- 2%
- ATM limit
- €200/mese gratis, poi 2%
- Net annual cost
- Free
- Max APY
- 15% EUR / 7% BTC
What's included
- Crypto savings
- Crypto-backed loans
- Card prepaid
FX 0.2% on weekdays for EEA/UK/CH currencies; rises to 0.7% at weekends and 2% (2.5% at weekends) for other currencies. ATM beyond the allowance: 2% with a €1.99 minimum.
Data & conditions
| Account fee | Free |
|---|---|
| IBAN | dedicato |
| Multi-currency | Yes · 3 currencies |
| Outbound transfers to third-party IBANs | Yes |
| Utility direct billing | No |
| SEPA direct debit (SDD) | No |
| SEPA transfer | €5 |
| Interest on balance | 8% |
| ATM withdrawal | 2% |
| Free ATM limit | €200/mese gratis, poi 2% |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | EEA, UK · 40+ countries |
| Regulator | FINMA |
| OAM Italy registration | Yes |
| Segment | B2C |
| MiCA / License status | Crypto Asset Service In adeguamento |
Strengths
- Best free ATM limit in Tier A (€2,000/month); dual credit/debit mode.
- No notable sovereignty advantage documented.
Weaknesses
- History of regulatory enforcement; physical card suspended.
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (In adeguamento): reporting to authorities and freezes on order.
Verdict
One of the category's highest ratings rests on substance: the best free ATM limit in its bracket (€2,000/month), a dual credit/debit mode and FINMA oversight with OAM registration in Italy. Tempering the verdict are its history of regulatory enforcement, the suspension of the physical card and a 0.7% weekend FX surcharge, factors the careful user must weigh.
Through this lens it is among the worst: custodial, full KYC and bottom privacy (2/10). The enforcement history and fully centralized nature make it the opposite of the self-custody, censorship-resistant model that matters here.
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 Nexo Card, and what users say. External signals: they do not feed the promp.it rating.
Incidents & regulatory actions
Past incidents, resolvedDocumented and closed events. They stay on file: an operator’s past is data, not a verdict.
-
Regulatory action Severe $45M ✓ resolved
$45 million settlement with the SEC and state regulators over the Earn Interest Product
The SEC charged Nexo Capital with failing to register the offer and sale of its Earn Interest Product, finding it to be a security. Nexo paid $22.5 million to the SEC and the same again to state regulators across 50+ jurisdictions, without admitting or denying the findings, accepting a cease-and-desist order and ending the product for US investors. The SEC credited Nexo's cooperation and its voluntary halt of the product from February 2022. No fraud charges and no loss of client funds.
↗ source -
Fine Moderate $500K ✓ resolved
California: $500,000 penalty for unlicensed lending
California's financial regulator found Nexo Capital made crypto-backed loans to at least 5,456 Californians without a licence and without assessing ability to repay, breaching the California Financing Law, plus two violations of consumer financial protection rules. Besides the penalty, Nexo must within 150 days transfer California residents' funds to a licensed affiliate. The conduct dates to July 2018 - November 2022, before the US exit.
↗ source -
Delisting / service stop Moderate ✓ resolved
US market exit: clients required to withdraw by 1 April 2023
Announced in December 2022 as a phase-out of all US products. The settlement with state regulators required Nexo to notify remaining US clients to withdraw their assets by 1 April 2023; withdrawals stayed open. Nexo formally re-entered the US market on 16 February 2026.
↗ source -
Regulatory action Moderate ✓ resolved
Sofia office raid and criminal investigation in Bulgaria, closed with no charges
After the Bulgarian prosecutors' raid, alleging money laundering, tax crimes, computer fraud and unlicensed banking, Nexo said it saw no abnormal withdrawal activity despite on-chain outflows. On 22 December 2023 prosecutors closed the probe finding no evidence of crime. Nexo subsequently filed an international arbitration claim against Bulgaria.
↗ source -
Regulatory action Moderate ✓ resolved
New York Attorney General sues over unregistered securities offering
The suit, alongside coordinated actions by seven other state regulators the same day, alleged failure to register as a broker-dealer, false claims of being a “licensed and registered platform”, and offering the Earn Interest Product to about 10,000 New Yorkers. Resolved by the January 2023 multistate settlement, which also imposed a five-year ban on offering securities in New York.
↗ source
verified on
Public reviews
-
Google Play ↗
4.1/5
~
50,100 reviews
Count rounded by Google Play (50.1K).
-
Trustpilot ↗
4.5/5
18,524 reviews
Needs context: 19 of the 20 most recent reviews were collected through Trustpilot's automatic invitation service, i.e. solicited by the company. This is read from the page metadata, not evidence of incentivised reviews, for which no proof was found.
-
App Store ↗
4.2/5
~
1,800 reviews
Count rounded by the US App Store (1.8K).
Weighted average across 3 public review platforms (70,424 reviews in total), weighted by volume. This is not our rating: it is those platforms’ average.
Community signal
not verified by usPublic opinions collected from third parties, not verified by us. Online reviews can be manipulated: read them as a hint, not as data. The promp.it verdict remains the one above, based solely on official documents.
What users praise
- Interest paid reliably and at competitive rates
- Easy app and identity verification, smooth experience
- Nexo Card well liked, with Google Pay and EUR spending
- Withdrawals and swaps working without issues for most users
What users criticise
- No MiCA licence: only a “MiCA-compliant structure”, with support replies perceived as boilerplate
- Counterparty risk fears for a centralised lender, with explicit comparisons to Celsius, Voyager and BlockFi
- Rate changes perceived as unannounced and opaque loyalty-tier requirements
- Specific issues with card verification and rejected fiat withdrawals
The service’s own official accounts are excluded from the count. 20 posts from r/Nexo and r/CryptoCurrency analysed, excluding posts by the official Nexo account, plus the 20 most recent Trustpilot reviews read in full. Reddit was read through a mirror because it was not directly accessible: the texts are verified but the mirror does not expose post dates. X was not analysed. MiCA licence status was not verified against ESMA or BaFin registers: it appears here only as a theme raised by users, not as an established fact.
Voices from the community
-
Deposits, withdrawals to an external wallet and swaps worked really well for me. Withdrawing fiat to card gave me issues though: my request kept getting rejected, but a friend of mine did it the next day and it went through perfectly fine, so I'm not sure what the problem really was.
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I use Nexo mainly to earn interest on my crypto. So far I'm very satisfied: the interest is paid as expected, the app is easy to use, and I hope my crypto is safe with them.
-
Please spare us the generic bot responses: “We have a MiCA-ready structure”, “We are in the final stages of getting the licence”. For about three months we've been getting these answers, but no concrete evidence that Nexo will actually have a MiCA licence. It's two days until 1 July. I've been a user since 2021 and I feel like Nexo is going downhill: unannounced interest rate changes, the whole failure of the physical card story, now this.
Every quote links to its original source: check for yourself, don’t trust the summary.
FAQ
Is Nexo Card a real bank?
Nexo Card operates under a Crypto Asset Service licence (CH (Swiss FINMA reg)). The deposit-protection scheme is not documented for this service; check the official terms.
Can I send transfers to third-party IBANs with Nexo Card?
The ability to send transfers to third-party IBANs is not documented; check the official website.
Does Nexo Card support direct debits and utility billing?
SEPA direct debit (SDD): not documented. Utility-bill domiciliation: not documented.
Which fiat currencies does Nexo Card support?
The number of supported fiat currencies is not documented. Multi-currency accounts: not documented.
Can I withdraw crypto on-chain from Nexo Card?
On-chain crypto withdrawal is not documented; check the official website.
Sources
- Official service page Plans & pricing · Regulatory framework · Issuer · Cashback · +2 Data verified on Jul 22, 2026
- crunchbase.com Stock ticker · Stock listing · IPO date Data verified on Jun 15, 2026
- lei-lookup.com Legal name Data verified on Jun 15, 2026
- tracxn.com Latest funding round · Investors Data verified on Jun 15, 2026
Show 10 more sources
- cryptoslate.com Plans & pricing Data verified on Jun 14, 2026
- bitease.io Third-party audit Data verified on Jun 13, 2026
- coinbureau.com Deposit guarantee Data verified on Jun 13, 2026
- criptovaluta.it OAM Italy registry Data verified on Jun 13, 2026
- cryptocardcompare.io Monthly fee · IBAN countries Data verified on Jun 13, 2026
- cryptoexchange.org.uk On-chain crypto withdrawals · Multi-currency Data verified on Jun 13, 2026
- cryptoryancy.com Trustpilot reviews · Past incidents Data verified on Jun 13, 2026
- earnpark.com Savings interest Data verified on Jun 13, 2026
- nexo.how SEPA fee · SWIFT fee Data verified on Jun 13, 2026
- p2pempire.com Founders Data verified on Jun 13, 2026
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