iCard is a digital wallet in the European Economic Area offering zero monthly fees personal and business account with IBAN, virtual cards, and money transfer solutions to over 30 European countries. Furthermore, you can invest in cryptocurrency using iCard.
How iCard Works
iCard allows you to manage your personal and business finances from your smartphone or desktop. It offers a multicurrency account. Therefore, you can open up to three account in each of the 8 supported currencies, which are BGN, EUR, USD, GBP, CHF, RON, CZK, and PLN. To use your account to make transactions, you first need to add funds to your account. There are many options available to iCard customers to add funds to their cards. You can use your debit or credit card, send bank transfers from anywhere in the world to your iCard IBAN, request money from iCard friends for free, or even top up your e-wallet directly from a bank account through Trustly.
Sending and receiving money can be done with other iCard users (P2P transfers) via messenger or QR codes, or utilize SEPA transfers for quick euro transactions. For international needs, iCard offers SWIFT transfers for international transactions in any currency. Speed varies depending on the method: iCard transfers are instant, SEPA transfers take only 10 seconds, while SWIFT transfers may take 2-5 business days.
iCard also provides contactless physical and virtual Visa and Mastercard debit cards for online and in-store purchases at any contactless POS terminal, all with no monthly fees. For those seeking additional features, iCard Visa Infinite offers a premium experience for just €9.99 per month. It is possible to freeze and unfreeze your cards, set spending limits, and track your transactions in real-time through the iCard app.
There are no monthly fees for the Standard plan, which includes the virtual cards and basic account features. Additional features like currency exchange and priority customer support are available with the premium plans for a monthly fee.
iCard for Business is suitable for big and small companies, freelancers, and start-ups. Employers can manage salary payments, make mass payments, order business expense cards, and delegate user rights to employees.
iCard offers the convenience of buying and selling cryptocurrency directly within your account, thanks to their partnership with Bitpanda. However, it’s important to note that your crypto holdings are currently can’t be transferred to other iCard users or used for purchases. This means that the cryptocurrency feature on iCard is primarily geared towards investment and building your digital asset portfolio.
How to Open iCard Account
You can open your account using iCard app for Android or iOS. Documents needed to sign up include your national ID, proof of address if your ID does not show proof of address. A proof of address can be a bank statement, utility bill issued in the last 3 months (except mobile phone bills). If your country of origin is outside EEA, you need to provide residence permit. iCard may ask for alternative documents if your ID expires in less than 3 months or your ID is not a biometric document.
Identity verification is done via a video chat, and it will be completed within 24 hours after the chat. You will be notified via email. Identity verification takes between 3 and 5 minutes.
Types of iCard Plans
iCard offers the following personal and business plans for companies and freelancers in the EEA.
iCard Personal Plans
iCard offer three types of personal plans, which come with different types of iCard features, fees, and limits, which you can view on “Limits and Fess” menu inside your account.
- Standard Plan: This plan is free and provides basic features, including up to 5 virtual cards and ATM withdrawals of up to 200 EUR/month, with no cashback.
- Infinite Plan: Priced at 9.99 EUR/month, the Infinite plan offers an enhanced feature set, such as unlimited virtual cards, unlimited ATM withdrawals, 1% cashback, and additional benefits like travel insurance, purchase protection, and extended warranty coverage.
- Metal Plan: For 13.99 EUR/month, the Metal plan offers the most comprehensive features, including all the benefits of the Infinite plan, as well as mobile phone insurance, rental car insurance, and lost luggage reimbursement.
iCard for Business
The iCard Business Plan is a €2.99/month account for incorporated companies and freelancers. The plan offers multiple currency accounts, free debit cards, affordable SEPA and SWIFT transfers, and no fees for incoming payments. You can also make bulk payments easily and manage different currencies to pay partners and suppliers in a specific currency. This plan is ideal for functions such as affiliate payouts, ongoing subscription services and purchases from multiple suppliers.
iCard Supported Countries
The company supports a wide range of countries, with a specific focus on EEA. iCard countries are: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Lithuania, Liechtenstein, Latvia, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland and the UK.
iCard Fees
| Plan | Monthly Fee |
|---|---|
| Standard | 0,00 EUR/month |
| Infinite | 9,99 EUR/month |
| Metal | 13,99 EUR/month |
| Money transfers: | |
|---|---|
| Send money to other account within the system | Free of charge |
| Receive money from other account within the system | Free of charge |
| Account Funding Fees: | |
|---|---|
| Funding via Trustly | 1.5%, Min. 1.50 EUR, Max. 10.00 EUR |
| Funding via Bank transfer | Free of charge |
| Funding via consumer card MasterCard/VISA, issued in EU | 0.5%, Min. 0.10 EUR |
| Funding via other type card MasterCard/VISA/JCB | 1.5%, Min. 0.75 EUR |
You can see the full list of iCard fees here.
Is iCard Safe and Legit?
iCard is a legit electronic money institution, licensed and supervised by the Bulgarian National Bank. This means they operate under regulatory scrutiny and comply with financial regulations. Founded in 2007, iCard has established user experience and brand recognition.
iCard undergoes annual external security audit in order to maintain PCI-DSS Level 1 certificate. This standard, set by major card providers, ensures robust data security practices. Customer funds are kept in separate accounts (“segregated”) at partner banks. This means your money is never used for investments or loans.
iCard Alternative
In case iCard does not meet your needs, there are iCard alternatives in the market that you can consider.
More Information About iCard IBAN Card
iCard FAQs
What is iCard?
iCard is a digital wallet that offers personal and business IBAN accounts, virtual cards, multi-currency ewallet, crypto trading, and money transfer solutions to over 30 European countries.
Can I send money to anyone with iCard?
Yes, you can send money to anyone with iCard. You can send money to iCard users and to non-iCard users.