iCard Infinite
A plan byiCard · Visa/Mastercard
iCard is a Bulgarian electronic money institution (Bulgarian National Bank licence) offering a wallet with a personal Bulgarian IBAN, multi-currency accounts and a genuinely zero-fee base plan: two free virtual cards (Mastercard and Visa) plus a free physical Visa debit card. The dual free virtual network is rare in the segment and makes it a little-known low-cost alternative in Italy. Like any EMI, however, funds are not covered by a deposit guarantee, only by safeguarding.
Infinite
- Price
- €10
- Cashback currency
- Nessuno
- Required staking
- Nessuno
What's included
- Higher limits and premium perks
Data & conditions
§ Amounts in USD/GBP are shown in the service's native currency.
| Account fee | Free |
|---|---|
| IBAN | dedicato · BG · BG |
| Deposit guarantee | None (e-money account) |
| Multi-currency | Yes · 6 currencies |
| Outbound transfers to third-party IBANs | Yes |
| Utility direct billing | No |
| SEPA direct debit (SDD) | No |
| SEPA transfer | Free |
| Card included | Carta fisica Visa di debito gratuita + 2 carte virtuali gratis |
| Network | Visa/Mastercard |
| ATM withdrawal | Free |
| Free ATM limit | ATM withdrawals: see iCard official tariff |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | EEA · 1+ countries |
| Regulator | Bulgarian National Bank (BNB) |
| OAM Italy registration | No |
| Segment | B2C |
| Funding / solidity | Bulgarian electronic money institution · wallet with BG IBAN and multi-currency accounts |
| MiCA / License status | Istituto di moneta elettronica (IMEL) — Bulgarian National Bank (BNB) Bulgarian EMI (Bulgarian National Bank) |
Strengths
- Zero-fee base plan: 2 free virtual cards (Mastercard and Visa) + free physical Visa debit card
- Personal Bulgarian IBAN with multi-currency accounts (EUR, GBP, USD, BGN, CHF, RON) and mobile payments
- Disposable cards and P2P: dual free virtual network, rare in the segment
- No notable sovereignty advantage documented.
Weaknesses
- No deposit guarantee: only safeguarding (segregated funds), no FITD or protection up to EUR 100,000
- Foreign (BG) IBAN: possible friction on salary credits, direct debits and Italian utility billing
- Little-known brand in Italy, with no local commercial presence
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (Bulgarian EMI (Bulgarian National Bank)): reporting to authorities and freezes on order.
Verdict
The B rating rewards an unusually generous base plan — zero fee, two free virtual cards on different networks and a free physical Visa card — within a solid cost-critical profile with a multi-currency IBAN. The limit, as for any EMI, is protection: funds enjoy no deposit guarantee (no FITD, no EUR 100,000 cover) but only safeguarding, and the Bulgarian IBAN can create friction on Italian salaries and direct debits. An interesting low-cost alternative as a secondary account, not as a primary deposit.
iCard stays custodial with full KYC: funds are held by the institution, every operation is tracked and the account can be frozen or closed on court order or for AML, like any European EMI. Safeguarding protects against issuer failure but grants no sovereignty over funds: no self-custody, no permissionless use. Disposable cards cut payment-data exposure but do not change the supervised, custodial nature of the service.
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.
FAQ
Is iCard a bank?
No: it is a Bulgarian electronic money institution (EMI) authorised and supervised by the Bulgarian National Bank. It is not a bank and balances have no deposit guarantee, only safeguarding (funds kept segregated).
Is iCard's base plan really free?
Yes: the Standard plan is EUR 0/month and includes 2 free virtual cards (Mastercard and Visa) plus a free physical Visa debit card. There are paid upper tiers (Infinite EUR 9.99/month, Metal EUR 10.99/month with a EUR 50 issuance fee).
What IBAN does iCard issue?
iCard issues a personal Bulgarian (BG) IBAN, with multi-currency accounts in several currencies (EUR, GBP, USD, BGN, CHF, RON). Being a foreign IBAN, some Italian credits and direct debits may face friction.
Sources
- Official service page Data verified on Jul 12, 2026
- blog.icard.com Data verified on Jul 12, 2026
- thebanks.eu Data verified on Jul 12, 2026