SolCard is a crypto-funded, prepaid payment card product that issues virtual cards denominated in U.S. dollars (USD). It is designed to let users deposit supported crypto assets, convert value into a card balance, and spend online at merchants that accept major card networks. SolCard also offers a higher-access card tier that supports Apple Pay and Google Pay for in-person payments where mobile wallets are accepted.
Overview
SolCard describes itself as a virtual, crypto-funded card that is issued automatically after a deposit is confirmed. The product is structured around two access levels. A standard virtual card tier is designed for online spending without identity verification. A higher tier requires identity verification and adds mobile wallet support for real-world payments.
- SolCard is legally identified in its Terms and Privacy Policy as SC PAYMENTS LIMITED.
- The virtual prepaid card is denominated in USD.
- Crypto deposits become a card balance for online purchases. Eligible cards also support mobile wallets.
Card Tiers and Features
SolCard’s product pages and help center describe two primary tiers that differ by verification requirements, limits, and top-up fees. The standard tier is intended for online-only use, while the higher tier expands functionality to Apple Pay and Google Pay.
- The standard virtual card requires no identity verification and is designed for online purchases. It has a $5,000 monthly spending limit and a percentage-based top-up fee.
- The full access Platinum card requires identity verification. It is described as having no monthly limit or percentage-based top-up fee and supports Apple Pay and Google Pay for eligible in-person payments.
SolCard states that cards are currently virtual only and does not list physical card availability in its help documentation.
Supported Currencies and Funding
SolCard’s help center lists supported funding assets that include stablecoins and Solana ecosystem tokens. Supported deposit networks for stablecoins include multiple chains, while certain assets are supported specifically on Solana.
- Supported stablecoins include Tether (USDT) and USDC, including support across several networks depending on the asset.
- Supported Solana assets include Solana (SOL) and additional Solana-network assets referenced by SolCard, including SOLC and JITO.
Card balances are denominated in USD. SolCard’s Terms describe topping up a USD amount using supported crypto assets, with supported assets subject to change.
Fees and Limits
Under the current terms, active accounts have no monthly account fee. After 90 days without a login, transaction or top-up, a dormancy charge of 10% of the remaining balance per month may apply.
SolCard’s help-center fee schedule covers top-ups and purchases, including cross-border spending. It also lists fees for withdrawals and refunds.
- A new card costs $10.
- Top-ups cost 5% for the standard tier, and 0% for the full access tier.
- Successful purchases cost $0.30 each.
- International or currency conversion transactions cost 2%.
- Apple Pay and Google Pay purchases cost 0.30% on full access cards.
- Declined transactions cost $0.15 each.
- Purchases under $10 cost an additional $0.15 each.
- Withdrawals cost $1, paid in USDT, described as covering blockchain or network costs.
- Refunds returned to the card balance cost 2%.
SolCard’s Terms also describe a minimum recharge amount of $10 and a withdrawal process that allows users to redeem unused balances using USDT, with a minimum redemption amount of $10 and a stated minimum interval of 48 hours between redemptions.
Acceptance and Usage
SolCard’s help center states that the standard card is intended for online spending wherever Mastercard is accepted. Its Terms also indicate the card can be used on online platforms that support Mastercard and Visa payments. For full access cards, SolCard describes the ability to add the card to Apple Pay or Google Pay for offline payments in supported locations. As a prepaid product, spending depends on the available card balance, and SolCard notes that transactions can be declined if the balance does not cover both the purchase amount and any applicable fees.
Eligibility and Regions
SolCard’s help center restricts access from several countries under international regulations. These include the United States, Cuba, North Korea, Egypt, Iran, Myanmar, Nigeria, Russia, and South Africa. Separately, SolCard’s Terms include geographic restrictions stating that the service is not available to residents or users located in Hong Kong, and that access from Hong Kong may be blocked.
Risks and Considerations
- Users may incur multiple fees on a single transaction, such as per-transaction fees plus cross-border fees, and mobile wallet fees on full access cards.
- Funding and withdrawals can involve conversion outcomes and network-related costs, including the published withdrawal fee paid in USDT.
- Country restrictions and geographic controls can affect who can open an account and use card features.
- Card use depends on available balance, and certain transactions can be declined if fees cannot be covered.
