Best of ether.fi Cash
Everyday spending options
- Direct Pay lets you choose which stablecoin to spend first.
- The virtual card lets you shop before the physical card arrives.
Areas to improve
Costs that depend on how you spend
- Borrowing accrues interest and puts collateral at risk of liquidation.
- Rewards settle in a token whose price can change before you claim it.
How the ether.fi Cash card works and what it offers
ether.fi Cash is a personal Visa card, available in virtual and physical formats, that connects assets in your Vault with merchant payments. The merchant receives ordinary currency and you choose how to fund the purchase: spend an eligible balance with Direct Pay or use asset-backed credit with Borrow Mode.
Eligible purchases earn ETHFI cashback according to your tier, transaction currency and monthly spending. Rewards move through authorisation, settlement and a seven-day lock before you can claim them. Cash may suit people who already use stablecoins and want to put them towards everyday purchases. To assess the value, compare funding and currency conversion costs with the reward your actual spending would earn.
Direct Pay and Borrow Mode: funding your purchases
In Direct Pay you choose the spending order for supported balances such as USDC, USDT, EURC, LiquidUSD and LiquidEUR. Purchases use that balance without accruing interest. If you earmark EURC for shopping and USDC for another purpose, check their order first. Simply holding crypto in the account does not make it a spendable balance.
Borrow Mode lets you pledge an eligible asset such as weETH. Spending creates a debt that accrues interest until repaid. A fall in collateral value reduces the cushion before liquidation. For a purchase on credit, weigh the interest over your expected repayment period against the value of retaining the asset.
ether.fi Cash fees: currency conversion and cards
When a merchant charges in euros, ether.fi quotes zero FX markup, including when you spend USDC. The EUR feature is listed as a beta. Purchases in currencies such as sterling use your tier’s FX schedule.
When a payment requires currency conversion, the rate is set at settlement. The final charge can differ from the initial authorisation. Core’s 0.5% FX fee works out to $5 on the equivalent of $1,000. If a merchant offers its own currency conversion, compare its quote before accepting.
The number of included cards depends on tier and region. Issuance, additional cards and delivery are separate costs. Check the final price for your address before ordering a physical card, particularly if you already hold one of the same kind.
| Product or movement | Published terms |
|---|---|
| FX on charges outside USD/EUR | Core 0.5%, Luxe 0.25%, no ether.fi surcharge on Pinnacle or VIP. |
| Additional virtual card beyond allowance | $10 on Core, Luxe and Pinnacle. No charge on VIP. |
| Chargeable additional physical card | Tier schedule from Core to VIP: $50 / $100 / $100 / $0. Check regional allowance and delivery. |
ether.fi Cash cashback: earning and claiming ETHFI
The app first shows a pending dollar-denominated reward. Once the merchant settles the payment, the reward converts to ETHFI. You can claim the tokens after a seven-day lock. Their value may have changed by then. Some spending categories are excluded, and a pending authorisation is different from a claimable reward.
Core, Luxe, Pinnacle and VIP: what changes
Core is the starting tier. Luxe and Pinnacle can be reached through points, fast-track routes or annual memberships priced at $199 and $999 respectively. VIP has separate eligibility requirements. On eligible standard transactions the first ordinary spending band earns 3% for Core, Luxe and Pinnacle and 4% for VIP. Euro transactions have their own thresholds and share the monthly spending counter with other purchases. Crossing a threshold affects what subsequent spending earns.
To assess a paid tier, use your usual eligible spending and transaction currency. A temporary campaign rate is a poor basis for estimating a full year’s rewards.
On Core, the initial 3% band extends to $2,000 of standard spending but only $800 equivalent for euro purchases. Once your monthly spending reaches that equivalent, the next euro purchase enters the 1% band.
ether.fi virtual and physical cards: payments and ATMs
A personal application includes identity verification. Once approved, the virtual card supplies the details needed for online purchases. Apple Pay and Google Pay support contactless payments on compatible devices. A physical card also lets you insert the card and use a PIN at compatible Visa terminals and ATMs.
For ATM withdrawals, ether.fi sets a $5,000 per-withdrawal ceiling and five attempts per rolling 24 hours, including declined attempts. An ATM operator can apply a lower limit or its own charge. If a PIN fails, check it before trying again.
Who may find it suitable?
With ether.fi Cash you can spend stablecoins or retain assets as collateral for a loan. The mode you choose can matter more to the cost of a purchase than the advertised cashback rate.
Our review of ether.fi Cash
For everyday stablecoin spending, start by comparing Direct Pay and Core’s FX charge with your usual payment method. A higher tier or a financed purchase only improves the outcome if the savings on your actual spending outweigh the membership fee or interest.
Frequently asked questions
Does a purchase automatically involve borrowing?
Direct Pay uses eligible balances. Borrowing occurs when you spend in Borrow Mode.
Do rewards arrive in the purchase currency?
The reward converts to ETHFI at settlement. You can claim the tokens after seven days.
Can I withdraw cash without the physical card?
Yes, at an ATM that supports contactless use of your virtual card in Apple Pay or Google Pay. You will need your PIN.