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3% Cashback in XRP ($150/Month Cap) on Purchases Made with CryptoSpend VISA Debit Card @ CryptoSpend


Earn cashback using their prepaid debit card.

I've used this now for several months and it works great. Steps include:

  1. Open an account via their mobile app.
  2. Get a virtual card for free (or a physical card if you wish) to add to your mobile.
  3. Add some funds (eg Osko payments, NPP, bank transfer, etc) (I use NPP Osko as it is free and arrives in seconds).
  4. Use your card, and then get your cashback.

Please note that the cashback is paid in XRP cryptocurrency. I normally withdraw the XRP to another bank account (as cash).

Remember to use the referral link below to get your bonus!

Referral Links

Referral: random (30)

Referrer and referee get $10 worth of Bitcoin.

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closed Comments

  • What’s the minimum XRP amount you can sell to fiat?

    What’s the minimum XRP amount you can withdraw to another crypto wallet?

  • Aside from the "bonus" money, what exactly in the point of this?
    How does the company even make money?
    Am I going to wake up one day, the company has collapsed, and I'm not an "unsecured creditor" i.e I'm lucky to get even 1 cent back for every dollar I'm owed?
    I fail to see why I would choose this over standard credit / debit cards + direct crypto investment.

    • +1

      I don't use them, but 3% cashback on everything (I haven't read if there are exclusions) is the reason why you would choose it. That's pretty juicy.

      But you've outlined a decent reason why you might not want to use them (though you can probably mitigate the risk by leaving a relatively minimal float on the card and topping it up just before larger purchases)

    • +1

      I would assume it would make money on the exchange spread.

    • +3

      I only keep a small amount in there to cover my budget, and top up as required. Using NPP/Osko the funds are there in seconds.

    • Many people would like to be able to minimise their expenses, such as by getting 3% cashback on their regular expenses. Investing in crypto is a different topic.

  • +3

    The minimum redeemable reward is $5 AUD worth of XRP.
    Rewards are capped at $150 AUD equivalent of XRP per calendar month. ($5,000 spend)

    No cashback on the following MCCs:

    Code Description
    4829 Money Orders - Wire Transfer
    6010 Financial Institutions - Manual Cash Disbursements
    6011 Financial Institutions - Manual Cash Disbursements
    6012 Financial Institutions - Merchandise and Services
    6051 Non - Financial Institutions - Foreign Currency, Money Orders (not wire transfer) and Travellers Cheques
    6211 Security Brokers/Dealers
    6540 Stored Value Card/Load (Non-Financial Institutions)
    9399 Government Services
    9311 Tax Payments
    6050 Quasi Cash–Member Financial Institution (e.g. casino chips, cryptocurrencies, money orders, lottery tickets and travellers cheques)
    6532 Payment transactions (transfer of funds to a Mastercard account)
    6529 Remote Stored Value Load — Member Financial Institution
    7800 Government Owned Lottery
    7801 Government-Licensed Casinos (Online or Internet Gambling)
    7802 Government-Licensed Horse/Dog Racing
    7995 Gambling
    9222 Fines (gov administered fines and penalties)
    5947 Gift Cards

  • +1

    Plenty of positive reviews online. Eg Play Store has it rated at 4.8: https://play.google.com/store/apps/details?id=com.cryptospen…

  • So I can use it for tap and pay as well as online shopping?

    • +2

      Yes. I use for all of my normal regular expenses, eg groceries, fuel, insurance, streaming, etc. I also use it in conjunction with Cashrerwards, Shopback, etc to try and maximise cashback.

  • For every eligible transaction made with the CryptoSpend Card, you will earn up to 3% back in XRP. It will be taken from a limited pool of XRP owned by CryptoSpend and will eventually decrease as more rewards are given to users.

    • In the T&C…
      The nature of this program is to run for a limited period of time only and the percentage of rewards will be reduced over time. CryptoSpend reserves the right to change the reward program structure without prior notice to customers.

  • Not to hate on the deal (hey a deal is a deal) but to achieve the maximum of $150 in a month you'll need to spend about $5k.

    I wouldn't personally want to own XRP, let alone $5k worth, so if taking advantage, you may want to purchase the right amount close to using actually using it.

    Unless you have big XRP bags you're ready to use, a couple of key considerations that come to mind are:
    1. XRP purchase fees - Exchanges typically charge in the vicinity of 0.5-2.0% of the value being purchased
    2. XRP movement fees (loading them onto the account)
    3. XRP to AUD price fluctuations.

    Additionally, who has custody of your XRP while it's on the account waiting to be spent (don't become another BlockFi equivalent victim)

    On a positive note, I like that services like this are propagating and developing, but personally I would like them to be used against instruments that are assets and not securities, although 'legally' I'm not sure where XRP currently sits on this (I would consider it a security).

    • Looking at the details you can add AUD to your account - doesn't have to be crypto. Agree that if it goes belly-up you'll almost certainly lose any balance - so just ensure you don't keep more than a few weeks spending in credit.

    • +2

      As I mentioned above, I withdraw my XRP as cash (no fees), to another bank account using NPP/Osko. I certainly wouldn't be looking at this as an investment etc into XRP. My use is simply to transfer my regular expenses onto it to get the 3% back. That's it.

      • I'm not so concerned about the rewards being lost - it's the credit balance you have to keep while using the card that you need to keep to a minimum. For example if you spend $3K a month on a CC - you shouldn't transfer $3K into this account to spend over the month - you'd be better advised to transfer in $500 chunks over the month.

        • Totally agree. I just regularly top up the account, as needed, and only keep a few $100's in there.

  • +2

    Have been using this for past 6-7 months now and its great. Just deposit AUD using PayId and getting XRP rewards. Withdrawing xrp to kucoin and swapping for some low cap gems that have been pumping. free money making money, cant complain

  • -2

    HSBC bank gives you 2% on tap and pay…in cash

    • HSBC is capped for under $100 and only for only instore paywave. This you can use instore and online.

  • +1

    Hate to ask about tax - but how are the reward XRP treated? Doesn't it get very messy - if you accumulate them and a capital gain is generated when they're sold (or more likely a capital loss)…… I know regular points aren't included in ordinary credit/debit card scheme's - perhaps these sit in the same bucket?

    • Not financial advice, but here's my understanding of it:
      rewards are in the same category as airdrops, they are treated as income.
      so at the point of acquisition you need to know the price of XRP for declaring it as income.

      when you sell the XRP for AUD (or something else), if there is any difference in price between acquisition and sell time, that is treated as capital gains.

  • So there is no fees using this to withdraw or deposit ?any hidden fees?

    • There is a fee, I believe about $10, if you want a physical card sent to you. I use virtual and physical card (eg virtual on my phone for me to use, physical card for my partner to use).

      • What’s the fiat and crypto deposit and withdrawal fee like?

        • +1

          As far as I know, there are no deposit or withdrawal fees for fiat. I've only withdrawn XRP as fiat, and have not had any fees.

  • +1

    Can you withdraw as $ as opposed to XrP?

    • Yes

  • +1

    Been using this for months already, it's amazing. Have used it in Japan anywhere I could use my card(physical $15 fee tho)sometimes the fx was better than what Google showed and no fees at all🤑🤑🤑

  • +2

    cashback is paid in XRP cryptocurrency. I normally withdraw the XRP to another bank account (as cash).

    I've been just spending the earned XRP with the CryptoSpend card. What's the point of converting XRP to AUD and back to the bank?

  • +2

    I'm a HUGE fan of XRP so going to try this out. Thanks OP.

    Some background for those that aren't familiar with crypto:
    XRP is the 4th largest cryptocurrency (excluding stable coins) and has excellent fundamentals - low cost transfers ($0.00001 v. BTC/ETH at $20+), instant transfers (2-3 seconds v. BTC/ETH at hours) and can handle 1500 transations per second (v. BTC/ETH at 5-30). Also good for the environment, whereas BTC/ETH bothuses more energy than the entire country of Denmark!

  • I transferred $200 this morning into Cryptospend and it shows that in my account. My portfolio balance is $200. However everything I purchase online says insuffient funds in selected currency btc. Any reason?

    • I just got help from support and had to move the money to btc. It works now. So
      I always have to leave it in btc everytime I deposit money?

      • +2

        I found that in the app you can select which currency that you want to use. You can use BTC, AUD, etc. Click on the "Cards" icon at the bottom to find the option.

  • +1

    This sound like the crypto.com card but no staking required?

    • +3

      Yes, it is.

    • +1

      Also this is an aussie app :)

  • +2

    You can also add the card to PayPal and Google and, presumably, Apple wallets.

    I've been withdrawing the XRP rewards to another exchange where I think there's a better AUD rate than Cryptospend.

  • Do they require a KYC before you can cashout?

    • Assume that everybody needs a KYC - they can't comply with AML regs without it.

      If they're deliberately not complying, then they aren't a company you want to deal with anyway.

  • +1

    You can't use it at afterpay or zip pay.

    • +3

      Just to clarify, did you mean you can't use the CryptoSpend debit card to pay off AfterPay/ZipPay … or you won't earn 3% XRP off the repayments?
      I just repaid $10 on my Zip Pay balance using CryptoSpend debit card but via Apple Pay. I'm now waiting to find out if it unlocks the 3% XRP.

  • When I tried to add my card as a payment method to zip pay it says “there was an error processing your card. Pls try another card or contact our customer care.”
    When I did the same with Afterpay it says “oh something went wrong with your payment , pls try again”

    I tried numerous times and it didn’t work

    • This is pretty normal for cards you need to "top up" like this one - behind the scenes, they're usually classed as pre-paid cards which aren't supported by the likes of Zip/Afterpay.

    • Zip Pay: I can make an Extra repayment with the CryptoSpend (CS) card via Apple Pay. I can't add the card as the default payment method though.

      After Pay: I can't make once off payments or set the default payment method as the CS card, so I just don't bother with that platform.

      • Ah I see let us know if u get the 3% cash back for zip pay.

        • +1

          Confirmed: I got 0.4684 XRP for a $10 ZipPay repayment.

          • @wutang01: I don’t have Apple Pay on zip pay.

            • @FujiFruit: I don't know how to help you?
              I'm accessing the Zip Pay app on my iPhone.

      • +1

        I've found that you can use Apple/Google Pay to get around restrictions on prepaid cards like this.
        Another good example is Sniip. Too bad Beem doesn't have it though. (For Govt payments)

  • +3

    In case anyone is interested I've tested the following. I got a little worried when I saw Gift Cards on the exclusions list.

    Working and Rewards paid
    - Shopback gift cards
    - Woolworths gift card portal
    - Sniip (0.85% fee - Need to use Google/Apple pay for some billers)
    Useful for government payments which are normally excluded from rewards. Can also be used for most BPAY billers that don't normally accept card.
    You could also use Zip Pay to pay bills for no fee (upgraded act) but with more limits and may affect credit score

    Not working/ineligible for rewards
    - Beemit
    - Revolut top ups

  • Wow thanks for the list

    However it says u can’t use government payment , what are some examples I can’t use it eg ? I might register for snipp then, but I have to make sure what is considered government payment?

    • +1

      You can't use it for Govt payments if you pay them directly with the card. But if you pay through an intermediary like Sniip, ZipPay or Beem then it works and you can get rewards.

      Some examples of Govt payments are ATO/Tax, Car Rego/Licence, Council rates and some Utilities like Water are also listed as Govt
      Check this post for Utilities listed under Government Services - ignore the other categories

      • +1

        Just tried out ATO via Sniip. Noticed I had to keep the transaction under $1000.

        • Yeh that's the limit for all transactions on the card. But there's no limit to the number of transactions you can do.

          • @wangasm: Most insurance eg home insurance or car insurance is over $1000. Im not sure if the insurance will accept 2 payments of the same credit card?

            • @FujiFruit: Yes this card isn't so good in those cases.
              Although a lot of insurance companies also provide an option for BPAY or Post BillPay (better), in which case you can then split the payment.

  • When you guys get your XRP, add up the total. I think CS takes a 2% cut of your cashback rewards?

    • Yes it is, it you read the FAQ.

      Crypto Cash Out
      2-3% crypto-to-AUD conversion fee when you withdraw crypto to a bank account


      • But I’m talking about claiming the rewards.
        Not converting it to AUD yet, and haven’t withdrawn it yet (sitting as XRP in CS balance)

        Add up your total individual XRP rewards, and compare that to how much you successfully claim.

        Edit: I should also mention I’ve seen that FAQ, because I was looking up what the XRP withdrawal fee would be.

        • I will see if there is any deductions when I redeem my rewards and use it for shopping and if I’m not getting 3% then will cancel this card

        • +1

          So if they take 3% then you get to keep 97% of the cashback.

          What's the issue ? It just means the cashback rate is effectively 2.91% instead of 3%.

          if I’m not getting 3% then will cancel this card

          @FujiFruit Wut.

          So you want the card at 3% but not at 2.91% ?

        • +2

          So when I added up the XRP and claimed, it actually gave me slightly more rewards then the total I earned.
          But the difference is very tiny, like 0.05%, probably a rounding thing. So seems pretty close to me and not taking any fees

          When doing the calculation make sure you deduct XRP for any transactions that were refunded (in red).

  • Transfering it to use for future shopping on the card there wouldn’t be any fees unless you are withdrawing to bank account correct ?

  • To redeem the rewards , it would just go back into the aud account with no fees and i just will use it for the next shopping.?

    • +1

      They are redeemed into your XRP wallet as XRP.
      You can manually switch your card's payment method to XRP (Note you can't pay with 2 different currencies at same time). There's a fee if you spend crypto this way.
      Or you can cash it out to your bank account (Instant with PayID), only this has no fee.

  • Referral deal for $10 of btc is still going and pays quickly. some buy sell fees though

  • +1

    The FAQs state 'Are these XRP Rewards going to last forever? Nope, unfortunately the XRP Rewards pool is not unlimited so it will run until it has been depleted. The percentage of XRP rewards (starting out at 3%) that can be earned per transaction will also incrementally decrease over time. So we recommend making the most of the XRP Rewards program while it lasts!'

    Does anyone have any idea how long this might be?

  • Hmm so I have been using my xrp on shopping online and then I read they deduct 2-3% for using xrp to AUD fee as I’m using crypto and it was confirmed by the staff that yes I’m being charged the fees
    Then I thought if I withdraw the xrp to bank account it should be a profit but it states I will be charged 2-3% for conversion crypto to aud . Im so confused of the benefits of using this account ? I get 3% cashback but then when I use the rewards I get charged 2-3%???
    Can someone englihten me ?

    • Never mind the customer service said she made a mistake and gave me wrong information

    • For me withdrawing XRP to bank account does not have any fees so is probably always the best option (if you don't want to be subject to XRP volatility)

  • +5

    Received a notification today, the rewards program is ending 30 Sep 2023 at 11:59pm AEST

    • It saddens me so deeply I'm depressed now, need to find something else… 30/July

      • Back to 2% CRO I go 😢

        • who is that with? HSBC is 2% too,

      • same so sad, i thought finally i found something better than HSBC

        • +1

          CRO is crypto from crypto.com which you have to buy and lock in $500 for 1% $5000 for 2%.. not worth it..
          I have 1% card, probably will use that for everything except for HSBC 2% tap and go..😭😭

          • @sam cho: true seems little, hopefully something better comes out

    • +1


  • Just recently i tried using it at preezzee and it doesn't work anymore

  • Has anyone found a good budget app that can import crypto spend .csv transactions?

    There are many apps that integrate with other bigger banks, but struggling to find a good way to keep track of budget using this card.

  • Does it work for the Coles Mastercard gift cards?

    • +2

      It doesn't. The Coles gift card website doesn't accept Prepaid cards from my experience, only Debit and Credit Cards.

  • +1

    The XRP cashback ends September 30.

    Can anyone recommend something similar?

    I already have the Crypto.com debit card and HSBC.

    • +4

      I have the Jade CdC card and was using that until I got CryptoSpend. The removal of the XRP rewards prompted me to go and get the HSBC. I don't know of any other similar cards, unfortunately.

      I can't think of any use for CryptoSpend going forward so I think it's a big mistake that they are making to remove all rewards.

      • +1

        My condolences on owning a CDC Jade card.

        I've looked around and can't find anything similar to CryptoSpend. Agree, I won't be using them in the future, I was only in it for the cashback.

        • +1

          Jade still has its uses but Icy is much better….until CdC withdraw more benefits.

          • @gizzard: Icy White CRO Lockup $50,000 AUD, 3% CRO Cashback. Yikes!

            • @rokufan: I really keen to know how you use of CDC as I used to try using them but make it hard.
              I'm having Red card in my memory and I had lockup 500 then withdrew, value dropped so much but still holding as I hope will go up one day,

              do you have Jade card with 50K lock up?

              • @Ryoon: I only have Midnight Blue, thank god! I was at one time thinking of upgrading before the crash. I'm just holding tight until the next boom, but I'm not bullish at all for CRO. I still collect the US$25 monthly cap in CRO cashback unless something better comes along (at least I'm accumulating at the lows).

                • @rokufan: For my experience using CDC was not great as I had to charge with SGD then exchanged with AUD, have option to charge with other card but there's fee of 2 percent or 3 percent., If I buy CRO and move to card (don't remember if I could on this) if can do this but then buy price is higher and lose some percentage so I wasn't able to see 2% cash back is worth it. can anyone explain better way of adding? I was so happy with cryptospend and I save approx 850 XRP and currently saved under bybit with staking. some are in fixed and really happy with Cryptospend and hope they will bring other sort of cashback if they really gonna stop end of September.

    • +1

      Aside from HSBC, Crypto.com and Bano which have been mentioned, there is also Virgin Money and Bankwest who offer debit cards with small fixed point earn per transaction (plus occasional bonus sign up offers). The Qantas Travel Money card also earns points but don't know what it's like for domestic use.

  • Anyone has issue with payid deposit? I did one this morning, but the fund has not arrived yet. Normally it arrives instantly.

    • I made two this morning from two different banks including a new one and both were fine.

    • +1

      Many banks have started putting 24 hour holds or blocking transfers to anything crypto related. Commonwealth bank puts a 24 hour hold on my PayID transfers to CryptoSpend. Check the transfer in your bank account and see if it is marked as pending.

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