Wirex One

Wirex One is a stablecoin and crypto neobanking app that combines a Visa card, multi-currency funding, cashback, yield, trading and crypto-backed credit in one product.

The card is available across five membership tiers: Base, Premium, Elite, Private and Bespoke. Every user starts on Base, while the higher tiers require both a minimum Wirex One portfolio balance and a minimum percentage of that portfolio to be held in WPAY.

There are no monthly membership or annual card fees. Instead, the product uses WPAY holdings to determine the user’s cashback rate, card format, Earn boost, fee-free trading allowance and other benefits.

Onboarding took us approximately 10 minutes and worked without issue. Wirex handled identity verification within the app, with a passkey or authenticator app required for account security. A minimum deposit of $50 was required to activate the card. Once funded, the card could be manually added to Apple Pay for spending, with Google Wallet also supported.

Wirex One pays cashback directly in USD, with rates ranging from 0.5% for Base users to 8% for Bespoke users.

Higher tiers require both the stated minimum portfolio balance and the corresponding WPAY allocation.

Cashback and subscription rebates accumulate within a single rewards balance. Wirex’s current model links the amount that can be redeemed each month to the value of the user’s WPAY holdings.

As an example based on their formula, holding $1,000 worth of WPAY would provide $70 of monthly redemption power. Unused redemption capacity rolls forward.

The cashback percentage determines how quickly rewards are earned, while the amount of WPAY held determines how quickly those rewards can be redeemed.

Wirex One does not charge a subscription or annual membership fee. Most of its limits and benefits instead depend on the user’s membership tier.

Foreign exchange

Wirex markets the card as having no separate FX fee or added FX markup.

However, in our foreign-currency purchase test, we observed an approximated 1.25% difference between the exchange rate applied by Wirex One and the public reference rate available at the time.

No separate foreign-transaction fee appeared in the app. The cost was instead reflected in the conversion rate used for the purchase.

A single transaction cannot establish the spread that will apply across every currency or time of day. However, our result shows that no separately listed FX fee does not necessarily mean that foreign-currency spending will occur at the exact public market rate.

Annual fees and card activation

There is no annual fee for any Wirex One membership tier.

The Base virtual card is also free to issue. A minimum deposit of $50 was required to activate the card during testing, but this remained part of the account balance and was not charged as a fee.

Premium and Elite users can order physical cards, although delivery is paid. Private and Bespoke include complimentary delivery of a Visa Signature metal card.

ATM withdrawals

Wirex One provides a monthly fee-free ATM allowance based on membership tier:

• Base: $100
• Premium: $250
• Elite: $750
• Private: $2,500
• Bespoke: Unlimited

Funding Wirex One

Wirex One can be funded through bank transfers, payment cards and onchain deposits.

• EUR transfers through SEPA
• USD transfers through ACH
• Salary payments using the account details provided by Wirex

Wirex One supports onchain deposits for a broad range of stablecoins:

• USD assets: USDT, USDC, USDe, USDS, PYUSD and NXUSD
• EUR assets: EURI, EURC and EURS
• Other currencies: BRZ, AUDD, VCHF, XSGD and tGBP

Subscription benefits

Higher Wirex One tiers provide 50% rebates on selected subscriptions. Users pay for the eligible subscription with their Wirex One card and receive the rebate in USD.

• Premium: Uber One
• Elite: Uber One and ChatGPT
• Private: Uber One, ChatGPT, Claude and Perplexity
• Bespoke: Uber One, ChatGPT, Claude, Perplexity, Whoop, Bloomberg and the Financial Times

Physical and virtual cards

The card format depends on the membership tier:

• Base: Virtual card only
• Premium: Virtual and plastic physical card
• Elite: Virtual and plastic physical card
• Private: Virtual, physical and Visa Signature metal card
• Bespoke: Virtual, physical and Visa Signature metal card

Premium and Elite users must pay for physical-card delivery. Private and Bespoke include free card delivery.

Fee-free trading

Each Wirex One membership tier includes a monthly fee-free exchange allowance:

The app supports a broad selection of assets, including major cryptocurrencies such as BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK, AVAX, LTC and AAVE.

Earn

Wirex One includes flexible and fixed-term Earn products for stablecoins, cryptocurrencies and WPAY.

The BTC options displayed during testing ranged from approximately 1.5% for a flexible position to 3.75% for a 24-month fixed term. One-, three-, six- and 12-month terms were also available.

Crypto-backed credit

Wirex One also includes crypto-backed borrowing, allowing users to select a loan-to-value ratio of:

• 20%
• 30%
• 40%
• 60%

Borrowing rates varied depending on the collateral asset and selected terms. We did not complete a loan as part of this review, so the borrowing experience and final cost were not independently tested.

Wirex One is one of the broadest crypto card products we have tested. It combines a Visa card with bank-transfer funding, multi-chain stablecoin deposits, cashback in USD, yield, trading, subscription rebates and crypto-backed credit.

The Base tier is accessible and has no annual fee, but its 0.5% cashback rate and virtual-only card make it less competitive than leading free crypto cards on rewards alone.

Premium adds a physical card, a larger ATM allowance and a 50% Uber One rebate, but the increase from 0.5% to 1% cashback is relatively modest.

Elite is the most balanced tier for regular users. It provides 3% cashback, higher Earn rates, a $750 monthly ATM allowance, $10,000 of fee-free monthly exchange volume and 50% rebates on Uber One and ChatGPT. However, users must maintain at least a $2,500 portfolio and hold at least 3% of it in WPAY.

Private and Bespoke provide some of the highest advertised cashback rates among luxury crypto card programs, alongside metal cards, lounge access, premium subscription rebates and larger fee-free allowances. These benefits are substantial, but so are the minimum portfolio and WPAY requirements.

The main weakness identified in testing was foreign exchange. Although Wirex markets zero-fee FX, our foreign-currency purchase produced an effective rate approximately 1.25% worse than the public reference rate available at the time.

Overall, Wirex One is a great choice for users who want to manage spending, stablecoins, crypto investments and yield from one app.