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When you buy cryptocurrency using a credit or debit card, the total amount you see before checkout reflects our total fees only. However, your card issuer (bank or financial institution) may apply additional charges that appear later on your statement. These fees are outside our control and vary by issuer, card type, and region.
Because card networks like Visa and Mastercard classify cryptocurrency purchases as “cash-like” transactions, your bank may treat them differently from regular online shopping. Here are the card-specific fees you might encounter:
Cash Advance Fee
Why it applies:
Visa and Mastercard explicitly categorise cryptocurrency purchases as “quasi-cash” or “cash-equivalent” transactions. As a result, many banks process them like ATM withdrawals or cash advances, even if you’re using a debit card.
- Typical fee: 3%–5% of the transaction amount
- Credit cards Often incur immediate interest (no grace period) in addition to the fee
- Debit cards: May still trigger a cash advance fee, depending on your bank’s policy.
Foreign Transaction Fee
Why it applies:
If your card is issued in a currency different from the one used in the Paybis transaction (e.g., you hold a Canadian dollar (CAD) card but pay in USD), your issuer may charge a foreign transaction fee.
- Typical fee: 1%–3%
- Applies even if the transaction is processed in EUR/USD/GBP but originates outside your home country
- Some premium cards (e.g., travel or business cards) waive this fee, check your benefits
Currency Conversion Markup
Why it applies:
When your card currency differs from the transaction currency (e.g., GBP card → EUR payment), your bank or card network converts the amount using their own exchange rate, which usually includes a hidden markup above the wholesale interbank rate.
- Typical markup: 1%–3% (on top of the foreign transaction fee, if applicable)
- Visa and Mastercard publish base rates daily, but your bank may add its own margin
- The final cost appears as a higher-than-expected charge in your local currency
How to Minimise Card Fees
- Use a debit card in the same currency as the Paybis transaction (e.g., an EUR card for EUR purchases)
- Avoid credit cards if your issuer treats crypto as a cash advance (interest + fees add up fast)
- Choose cards with no foreign transaction fees (common with premium or travel cards)
- Never accept DCC at checkout, always pay in EUR, USD, or GBP
- Call your bank before your first crypto purchase: ask, “How do you classify cryptocurrency transactions on my card?”
Final Note
While card payments offer speed and convenience, they can come with hidden costs because banks and card networks view crypto differently. At Paybis, we show you all our fees upfront, but your bank’s charges appear later and are beyond our control.
A quick conversation with your card issuer can save you significant money and prevent billing surprises.