Uphold Card

Uphold Card Visa/Mastercard Debit Review: Fees, Rewards & Availability

Basic Information

The Uphold Card is a prepaid debit card that enables users to spend directly from their multi-asset Uphold portfolio, supporting 300+ digital assets alongside traditional currencies and precious metals.

Rewards and Benefits

Cashback Structure

United States:

Uphold Card offers tiered XRP cashback rewards with promotional rates for the first 90 days:

• Elite Tier: 6% XRP cashback for first 90 days (promotional), then 3% ongoing
• Essential Tier: 4% XRP cashback for first 90 days (promotional), then 2% ongoing
• Monthly Caps: $300 (Elite), $120 (Essential)
• Minimum Payout: $1 (smaller amounts roll over)
• Payment Schedule: Monthly within 10 business days

When combined with direct deposit rewards, users can earn up to 10% XRP back with a combined monthly cap of up to $800 ($500 from deposits + $300 from card spend on Elite tier).

United Kingdom:

The Uphold Card UK rewards program is promotional and extended month-to-month at Uphold's discretion, having started January 8, 2023:

• Standard Rate: 1% cashback in GBP on purchases funded by GBP balance only
• Monthly Cap: £100 maximum cashback per calendar month
• Minimum Payout: £1 minimum
• Payment Schedule: Calculated monthly and added within 15 days of month-end
• Restriction: Non-GBP funded purchases do not earn rewards

Promotional Programs

Direct Deposit Promotion (US):

The direct deposit cashback program offers 6% XRP rewards on qualifying salary deposits of $250 or more, with evolving terms:

• Cashback Rate: 6% on each qualifying deposit
• Monthly Caps:
  • Deposits on/before June 30, 2025: $200 cap
  • Deposits July 1 – October 23, 2025: $500 cap
  • Deposits on/after October 24, 2025: $550 cap with mixed-token payout
• Mixed-Token Payout (October 24, 2025 onward):
  • 4% in XRP (capped at $500/month)
  • 2% split as 1% ZBCN + 1% WMTx (combined cap $50/month)
  • The additional 2% mixed-token reward limited to first 10,000 eligible participants

Card Promotional Rates:

• High Promotional Rates: Available for cards ordered before January 1, 2026
• No Staking Required: All rewards earned without token lock-up periods

Fees and Limits

Uphold Card fees are structured around a tiered system with the Elite tier offering premium benefits and the Essential tier providing basic functionality at no annual cost.

Note: The Essential tier's $1.50 foreign transaction fee applies to both foreign purchases and foreign ATM withdrawals. FX conversion spreads may apply to all tiers when converting between currencies.

Spending and Withdrawal Limits

Conversion Spreads

Uphold applies the following typical conversion spreads when converting assets at point of sale:

• Stablecoins: <0.25% spread
• Major Fiat Currencies: 0.3% spread
• BTC/ETH: 1.5-1.65% spread
• Altcoins: 2.55-3.10% spread
• Precious Metals: 2.05-3.10% spread

Card Tiers and Options

All tiers offer real-time multi-asset conversion, mobile app integration, and fraud protection. The promotional cashback rates apply for the first 90 days for cards ordered before January 1, 2026.

Top-Up Methods

The Uphold Card does not require traditional pre-loading or manual top-ups; instead, users spend directly from their Uphold multi-asset wallet, and assets (including over 250 cryptocurrencies, 27+ fiat currencies, and select precious metals) are automatically converted to USD (US cards) or GBP (UK cards) at the moment of purchase. This real-time conversion is handled within the Uphold app or website, with no need to transfer funds from self-custody or external wallets—all assets are held custodially by Uphold. Conversion spreads apply (typically 0.2-0.5% for major assets, up to 2-3% for altcoins), and the selected asset is liquidated instantly at the point of sale, so there are no time delays or minimum/maximum top-up amounts specific to card funding, but general platform withdrawal and spending limits apply. Users must maintain a sufficient balance within their Uphold wallet, as funds must be held with Uphold (not in self-custody) prior to spending, and all conversions are subject to Uphold's real-time rates and custody model.

Self-Custody Custodial

The Uphold Card uses a custodial model, meaning that all user assets are held and managed by Uphold rather than directly controlled by the user. When you fund your Uphold wallet—whether with crypto, fiat, or metals—Uphold holds these assets in segregated accounts and manages all private keys on your behalf. You can choose which asset to spend from, and conversions to fiat happen automatically at the point of sale, but you do not have independent access to your private keys or the ability to move assets without using Uphold's platform. If Uphold were to cease operations, users would not have direct access to their funds, as all assets are tied to Uphold's custody. This approach offers convenience, broad asset support, and seamless spending, but comes with counterparty risk and less personal control over your assets compared to self-custody solutions.

Supported Currencies and Conversion

Cryptocurrencies: Uphold Card supports 300+ digital assets in the US, including Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC), Cardano (ADA), Solana (SOL), USDT, USDC, DAI, and numerous altcoins across DeFi, metaverse, and Web3 sectors.

Fiat Currencies: 27+ traditional currencies including USD, EUR, GBP, CAD, AUD, JPY, CHF for platform holdings. Card settlement occurs in USD (US cards) or GBP (UK cards).

Additional Assets: Precious metals (gold, silver, platinum, palladium) and fractional equities in some jurisdictions.

Conversion Process: Real-time "anything-to-anything" conversion at point of transaction using competitive mid-market rates. Assets converted to fiat at moment of authorization with 18-second rate lock during processing.

Geographic Availability

Uphold Card is available exclusively in the United States and United Kingdom, with specific regional exclusions in both markets.

Americas

United States (excluding Louisiana, New York, and all US territories including Puerto Rico, Guam, US Virgin Islands, American Samoa)

Europe

United Kingdom (England, Scotland, Wales, Northern Ireland, excluding Crown Dependencies such as Jersey, Guernsey, Isle of Man and British Overseas Territories)

Restricted Regions

All countries and territories not explicitly listed above are currently restricted, including Canada (services withdrawn in 2023), all EU/EEA countries, and all other global regions.

Compliance and Security

Regulatory Framework

• US: FinCEN MSB registration, state Money Transmitter Licenses
• UK: FCA registration for crypto AML compliance, EMD agent status under Optimus Cards UK Limited

Identity Verification

Full KYC required including government ID, proof of address, selfie verification, and SSN (US users). Process typically completed within minutes to days.

Security Features

• Two-factor authentication (SMS/app)
• Real-time transaction alerts
• Instant card freeze/unfreeze capabilities
• 3-D Secure (UK)
• PIN management
• Zero-liability fraud protection

Fund Protection

• USD Fiat Asset Account: Funds held at Cross River Bank are eligible for pass-through FDIC insurance up to $250,000
• Crypto and Precious Metals: Not held at Cross River Bank and are not FDIC-insured; held in cold storage with transparent reserve reporting
• Fiat E-money (UK): Safeguarded in regulated accounts

Technical Details

Conversion Mechanics

• Timing: Real-time conversion at transaction authorization
• Rate Lock: 18-second rate guarantee during processing
• Settlement: USD (US cards), GBP (UK cards)
• Priority: User-selectable funding source via mobile app

Banking Integration

• Funding Methods: ACH, domestic wire, SEPA, Faster Payments, SWIFT
• Processing Times: 1-2 business days for most transfers
• Instant Options: Visa Fast Funds for withdrawals to external debit cards
• Business Accounts: Available with API access for enterprise integrations

User Experience

Mobile App: Comprehensive iOS/Android app (4+ star ratings) with portfolio management, card controls, real-time notifications, spending analytics, instant freeze/unfreeze, and PIN management. Apple Pay and Google Pay are supported in both US and UK markets.

Language Support: Primary English with limited multilingual options

Customer Support: Help center with FAQ, email ticket system, emergency phone lines for lost/stolen cards. No live chat available. Response times vary from same-day to several days.

Merchant Restrictions: Rewards excluded for cash-equivalent transactions, gambling, government fees, charitable donations, securities purchases, and other quasi-cash categories.

Best Suited For

• Crypto enthusiasts who want to spend digital assets without manual conversion steps
• International travelers who need zero foreign transaction fees and multi-currency spending
• Multi-asset investors who hold diverse portfolios including crypto, fiat, and precious metals
• Cashback seekers who prefer crypto rewards without staking requirements and can maximize combined card + direct deposit rewards
• Tech-forward users who value seamless mobile app integration and real-time conversion

Pros and Cons

Pros

• Broadest asset support (300+ digital assets plus precious metals)
• Competitive cashback rates up to 10% combined (card + direct deposit) without token staking requirements
• Real-time conversion eliminates pre-funding friction
• FDIC insurance on USD Fiat Asset Account balances provides security
• Zero foreign transaction fees on premium tiers
• Apple Pay and Google Pay support in both markets

Cons

• Extremely limited geographic availability (US and UK only with further exclusions)
• Promotional cashback rates are time-limited (90 days for card spend; direct deposit rewards subject to caps and participant limits)
• Customer support quality inconsistent with slow response times
• Custodial service introduces counterparty risk
• Numerous merchant category exclusions reduce reward opportunities
• UK rewards program is promotional and month-to-month at Uphold's discretion

Conclusion

Uphold Card distinguishes itself as the most versatile crypto debit card available, supporting an unmatched range of 300+ digital assets, precious metals, and fiat currencies with seamless real-time conversion. Its competitive cashback rates up to 10% XRP (combining card spend and direct deposit rewards) without staking requirements make crypto rewards accessible to mainstream users, while zero foreign transaction fees benefit international spenders.

However, the card's appeal is significantly limited by its restricted availability to only US and UK residents (with further exclusions), time-limited promotional rates, and variable customer support quality. The custodial nature introduces counterparty risk that may concern crypto purists, while numerous merchant category exclusions can reduce the practical value of rewards. UK users should note that the 1% cashback program is promotional and extended month-to-month at Uphold's discretion.

The Uphold Card excels for crypto-forward users seeking genuine utility from their digital assets, international travelers wanting to avoid foreign exchange fees, and those preferring straightforward rewards without complex staking mechanisms. The Elite tier particularly benefits high-volume spenders who can maximize both card spend and direct deposit rewards, while the Essential tier serves everyday users seeking basic crypto spending capabilities with modest rewards.

Additional Information

Tax Implications

Spending cryptocurrency via the card constitutes a taxable event requiring capital gains calculations for each transaction. Uphold provides transaction records, but tax compliance remains the user's responsibility.

Platform Ecosystem

Beyond the card, users access commission-free trading between supported assets, yield programs on certain cryptocurrencies and stablecoins, and integration with services like Brave browser rewards.

Upcoming Features

Officially announced developments include expanded European rollout following regulatory approvals and enhanced business account features.

Security Best Practices

Given the custodial nature, users should implement strong account security (2FA, unique passwords), avoid storing large amounts long-term, and maintain awareness of phishing attempts targeting crypto platform users.