Does the Kast card charge foreign transaction fees?

Yes, the card charges a 2% foreign exchange fee on non-USD transactions, which some users find high compared to other options.

Is money on the Kast card insured?

No, funds held on the Kast card are not FDIC insured, meaning they lack the protections of a traditional bank account.

Does Kast require identity verification?

Yes, Kast requires KYC verification and may ask you to verify transaction sources, such as requesting a picture of your wallet to prove where the funds came from.

Are there issues with frozen funds on the Kast card?

Some users have reported having their funds frozen or accounts banned without clear explanations, raising concerns about the safety of keeping large balances on the card.

Kast Card Review: Pros, Cons, and User Experiences

The Kast card is a prepaid crypto debit card that lets you spend stablecoins like USDT and USDC in USD, with instant digital issuance and support for Apple Pay and Google Pay.

Users report good cashback rewards, with some getting 3% back on USD purchases that can be converted into tokens, making it convenient for expats needing a USD multi-currency account.

Drawbacks include frozen funds without clear explanation, a 2% foreign exchange fee on non-USD transactions, and a lack of FDIC deposit insurance.

Kast Card Review: Pros, Cons, and User Experiences — infographic

The Kast card is a prepaid crypto debit card that allows users to spend stablecoins like USDT and USDC in USD, with some Users reporting good cashback and ease of use, while others highlight issues with funds being frozen and high foreign exchange fees.

Benefits of Kast Card

Cashback and Rewards: Some Users appreciate the cashback offered on purchases, which can be converted into tokens. One User noted receiving 3% cashback on USD purchases. "I've been using Kast for about 8 months and it's excellent! I think the best part is that you're farming Kast's airdrop with the cashback you get on every purchase."

Convenience for Expats and International Use: Kast functions like a USD multi-currency account with a Visa card, offering instant digital card issuance and acceptance in many countries. "The key point: you don't need to touch crypto. Kast runs on stablecoin rails, but for practical purposes it functions like a USD multi-currency account with a Visa card attached."

Integration with Digital Payment Systems: The card supports Apple Pay and Google Pay, making it convenient for online and in-store transactions. "I've been using it for a little less than a month linked to gpay. It's working without problems."

Drawbacks and Concerns

Security and Frozen Funds: Some Users have reported negative experiences, including frozen funds and accounts being banned without clear explanations. "It’s not safe they are a in tech. They can freeze your money whenever they want and they can also block you from using your funds so do not rely on them like a bank."

High Foreign Exchange Fees: A common complaint is the 2% FX fee on non-USD transactions, which some Users find uncompetitive compared to other services. "2% exchange rate when there are apps that don’t even offer 1%, what an unpleasant fintech"

Lack of Deposit Insurance: The absence of FDIC insurance is a significant concern for some, as it means funds are not protected in the same way traditional bank accounts are. "No deposit insurance. That’s a deal breaker, why is it not FDIC insured if it’s a US bank account?"

Considerations for Use

Understanding Fund Custody: Before using Kast or any crypto card, it's crucial to understand where funds are held and the associated risks. "For any crypto app or card, I would first check where the funds actually sit: custodial balance, self-custody wallet, bank partner, card issuer, or some mix of those."

Physical Card Delivery and Customs: Ordering a physical Kast card may involve customs fees and can have varied delivery times depending on the region. "A delivery arrived at my house from DHL. But this was about a year ago, I don't know what it is now, check with support if it's still DHL or not before you order it."

Anonymity vs. Verification: While some appreciate the perceived anonymity of crypto transactions, Kast does require KYC verification, and may request additional verification for certain transactions. "I've been using the card for 2 weeks and I'm liking it, but today they sent me an email asking me to verify a $249 transaction I sent from my wallet to KAST. For verification, they want a picture of my wallet proving where the money came from. I think that's a total privacy invasion!!"

Are you considering the Kast card for international transactions or for its crypto features?

Best for: Expats and international users who want to spend stablecoins like USD without directly handling crypto.