Bankera Review – Blockchain Based Banking

Bankera is blockchain-based banking that offers multi-currency accounts, IBAN, SEPA and SWIFT payments to businesses and individuals. It has developed a crypto exchange and wallet known as SpectroCoin. One of the financial services Bankera offers include quick crypto-backed loans that don’t involve eligibility criteria like credit score to issue a loan.

bankera loans review
Bankera ad on Google claiming to be the alernative to Mistertango bank.

Benefits of Bankera bank

  • Multi-currency account
  • European IBAN account in your name
  • Crypto backed loans
  • Physical and virtual cards that you can link to your account
  • Access your account using web browsers and Bankera app
  • You can send and receive money using IBAN and SEPA instant payment
  • Business account for cryptocurrency businesses

Nuri crypto banking in Europe

  • Bankera is a blockchain-based banking, not a cryptocurrency bank. If you want a bank account that allows you to manage deposits in fiat and cryptocurrency in a single account, our suggestion is Nuri, formerly Bitwala

Blockchain-based banking vs Crypto banking: While these terms are often mixed up, they represent different stages of virtual currencies and blockchain economy value chain. While banking for the blockchain era provides the traditional financial services such as payment accounts, cards, and financing to businesses in the blockchain field, crypto banking focuses on providing banking-like services with cryptocurrencies, such as crypto loans, crypto wallets, or even savings.


Bankera Features

Bankera has some excellent features that also its customers to enjoy banking services. These features include:

SpectroCoin Review

SpectroCoin is a cryptocurrency exchange and bitcoin wallet developed by Bankera in 2013. SpectroCoin allows you to trade 12 cryptocurrencies. They include BTC, BNK, ETH, USDT, DASH, USDC, TrueUSD, LTC, ZCash, XRP and Paxos Standard (PAX). The account comes with a personal Visa debit card and a dedicated IBAN account and enables users to accept crypto payments in your business. They offer 30 fiat, cryptocurrencies and 15 deposit options. Users can trade and purchase cryptocurrencies and then store the assets in the SpectroCoin exchange. It is free to send cryptocurrencies to the exchange.

Besides, SpectroCoin offers a solution by allowing users to securely store cryptocurrencies and access them at any time using a mobile wallet that is available for Android and iOS users. SpectroCoin stores 99% of currencies in cold wallets to ensure their security. The platform is secured with 2-factor authentication and data encryption to ensure the security of users’ information.

Bankera Card

Bankera offers debit cards that are compatible with cryptocurrency and ATMs all over the world. You can load funds to your card from your account automatically. It also offers VISA business debit cards. Bankera charges 7 euros for the prepaid card which is a fair price for people who want to bridge between crypto and fiat. Bankera virtual cards are also available to customers.

Bankera Integrations Tools

SpectroCoin comes with tools that allow users to integrate it with merchants. For instance, you can integrate it with plugins and Payment Processing APIs. This makes it easy for your customers to pay for goods and services using cryptocurrencies in physical and online stores. It is easy to integrate SpectroCoin with payment processing APIs and its processing fees are fair.

Bankera Customer Support

The quality of service to users cannot be underestimated. One of the factors affecting the quality of service by corporate is the availability of customer support. Bankera has excellent customer support that is available 24/7. It means that if you have an issue, you have it sorted at any time.

Bankera Fees

Bankera has different fees for their various products. The following is their fee structure.

Bankera Pricing for Personal Account

Personal Account (offered to EEA residents)
Bankera Initial Fee 0.00 EUR
Bankera Inactivity fee (after 12 months of inactivity) 5 EUR
Bankera Monthly Fee 0.00 EUR
Bankera Closing Fee 0.00 EUR
Bankera SEPA Outgoing 0.00 EUR
Bankera SEPA Incoming 0.00 EUR
Personal+ Account (offered to EEA residents)
Bankera Initial Fee 0.00 EUR
Bankera Monthly Fee 0.00 EUR
Bankera Inactivity fee (after 12 months of inactivity) 10 EUR
Bankera Closing Fee 20.00 EUR
Bankera SEPA Outgoing 1.00 EUR
Bankera SEPA Incoming 0.00 EUR

Bankera Pricing for Business Account

Business (offered to low and medium risk)
Initial Fee 0.00 EUR
Monthly Fee 5.00 EUR
Closing Fee 0.00 EUR
SEPA Outgoing 0.10 EUR
SEPA Incoming 0.00 EUR
SWIFT Outgoing 7.00 EUR
SWIFT Incoming 18.00 EUR
Business+ (offered to high risk)
Initial Fee 450.00 EUR
Monthly Fee 50.00 EUR
Closing Fee 200.00 EUR
SEPA Outgoing 2.00 EUR
SEPA Incoming 0.00 EUR
SWIFT Outgoing 7.00 EUR
SWIFT Incoming 18.00 EUR
Crypto Exchanges (offered to virtual currency businesses)
Initial Fee 450.00 EUR
Monthly Fee 1000.00 EUR
Closing Fee 200.00 EUR
SEPA Outgoing 2.00 EUR
SEPA Incoming 0.00 EUR
SWIFT Outgoing 7.00 EUR
SWIFT Incoming 18.00 EUR

Bankera Card Fees (Bankera Virtual Card/Bankera Physical Card)

Monthly Maintenancefreefree
Deliveryfree by mail 3.00 EUR by registered mail 50.00 by couriern/a
Card Replacement10.00 EURn/a
Payment in shops (EUR) (in the EEA and UK)freefree
Payment in shops (EUR) (not in EUR/ outside EEA)1.00%1.00 %
Daily Limit5,000 EUR5,000 EUR
First 3 ATM withdrawals per month (EUR) (UK and EEA except Lithuania)freen/a
Over 3 ATM withdrawals (EUR) (UK and EEA except Lithuania)1.00 EURn/a
ATM withdrawals (not in EUR) (in the EEA and UK)1.00%, min 1.00 EURn/a
ATM withdrawals (outside EEA)2.00%, min 2.00 EURn/a
ATM withdrawals (in Lithuania)1.00%n/a
ATM Balance Enquiry0.50 EURn/a
ATM Daily Limit2,500 EURn/a

Bankera Trading Fees

There are trading fees charged on the maker and the taker. The maker is the one who makes an order to be executed while the taker is the person who takes the maker’s order. As such, the fees for the takers are 0.10% which is by far cheaper compared to the industry’s prices. The industry prices are around 0.25%. On the other hand, takers do not pay a fee at all when trading on Bankera’s Exchange.

Bankera Cryptocurrency Withdrawal Fees

Bankera charges a fee when you want to withdraw cryptocurrencies. For instance, when withdrawing Bitcoin using Bankera Exchange, you will be charged 0.0005 BTC which is below the industry prices whose average is 0.000812 BTC.

For some cryptos, Bankera uses a percentage to calculate the withdrawal fees. These cryptos include XRP XLM, LTC and ZEC whose withdrawal fee is 0.15%. This method is beneficial for smaller withdrawals while larger withdrawals attract hefty fees. You need to determine whether this is good pricing based on your trading.

Bankera Loans

Although Bankera is a blockchain-based banking service, it also provides crypto backed loans. Bankera crypto backed loans come in three packages:

  • Lowest Rates package. It has an LTV of 25% while the interest rates start at 6.95%
  • Most Popular package. It has an LTV of 50% while the interest rates start at 9.95%.
  • Max LTV. It has an LTV of 75% while the interest rates can go as high as 12.95%.


Bankera Bank Limits

AmountTransaction type
10,000 EURPer transaction
25,000 EURPer day
50,000 EURPer month

There are not limits for incoming transactions. After creating your account, you might find additional limits set based on your verification level.

Bankera Supported Countries

Bankera account is available in the majority of countries around the world. It does not offer services to clients from Iran, North Korea, and any unrecognized jurisdictions.

Bankera bank USA: Bankera services are not offered in the United States.

Is Bankera a Scam? Is Bankera Safe?

Bankera bank is legit. It is managed by Era Finance Ltd, a registered agent of Pervesk UAB – an electronic money institution authorised by the Central Bank of Lithuania for the issuing of electronic money and payment instruments. Your money is safe with Bankera because accounts are protected by industry standard cybersecurity measures. Account holders’ funds held in a segregated account from the funds of Bankera itself.

Bankera Reviews

Bankera Trustpilot reviews have received 4.0 out of 5 star as of August 2021. A few users (21%) complained about rejected transactions, long process for opening a business account, deleted account without notice, and poor customer service.

Bankera Alternatives

In case you are looking for banks that offer crypto and fiat currency services, try the following: