Cards On ChainCardsOnChain
ReviewsCompareGuidesNewsTaxes & Regulation
  1. Home
  2. Reviews
  3. Ether Fi Cash

Navigate

  • Reviews
  • Compare Cards
  • Guides
  • News
  • Taxes & Regulation

Resources

  • What Is a Crypto Card?
  • Best Cashback Cards
  • Crypto Card Rewards
  • Crypto Card Fees

Legal

  • Legal Notice
  • Contact Us
Cards On Chain

© 2026 Cards on Chain. Your rewards card compass.

HomeReviewsether.fi Cash
Review

ether.fi Cash Review

ether.fi Cash is the card for ETH long-term holders who want to spend without selling. Borrow against your staked ETH, keep earning restaking yield on your collateral, get up to 3% cashback in wETH, and avoid triggering a taxable sale — no other card does all four. The trade-offs: 1% FX fee on non-USD spending, 2% ATM fees, liquidation risk in Borrow Mode if ETH drops, and a loyalty-point system that rewards heavy users but can confuse casual ones.

4.0/5
Visit ether.fiSee All Fees
Card Type
credit
Network
visa
Annual Fee
$0
Top Cashback
3% cashback in wETH on the first $2,000/month, 1% on $2,000–$3,000, 0.5% above $3,000. Paid monthly.
Entry
Free
Regions
United States, UK, Europe (EEA)

On this page

How It WorksFees BreakdownRewards & CashbackEntry RequirementsSecuritySupported CurrenciesAvailabilityProgram ChangesEditorial ReviewWho Is It For?Related Guides

Pros

  • Borrow-to-spend model: use staked ETH (eETH, weETH) as collateral, spend borrowed funds via Visa, and avoid a taxable crypto sale. Your collateral keeps earning restaking yield the whole time.
  • Up to 3% cashback in wETH on the first $2,000/month (Core) or first $10,000/month (Luxe). Cashback paid monthly, no cap on number of purchases.
  • Liquid Vaults earn 5%+ APY on idle USDC and ~7% on Liquid ETH — your collateral works while you spend.
  • Non-custodial: assets stay in a Gnosis Safe wallet you control. No exchange custody risk.
  • Visa Signature benefits at no annual fee: $10,000 purchase protection, extended warranty, rental car insurance, airport lounge access (Luxe+).
  • Dual spending modes: Borrow Mode (credit, against collateral) or Direct Pay (debit, spend stablecoins from vault). Same card, two use cases.

Cons

  • 1% FX fee on all non-USD transactions. No zero-FX option at any tier. For European users spending in EUR, this is a constant drag.
  • 2% ATM withdrawal fee with a $250/day cap and max 3 attempts per day (failed ones count). Worst ATM terms among cards we've reviewed.
  • Borrow Mode carries liquidation risk: if your ETH collateral drops in value and you can't top up, your position gets liquidated. Not a worry in Direct Pay, but defeats the purpose of the card.
  • Cashback rates step down with higher monthly spend: Core gets 3% on the first $2k, then 1% on $2k–$3k, then 0.5% above $3k. The headline '3% cashback' is only the first bracket.
  • Tier system tied to loyalty points and ETHFI staking is hard to follow. Reaching Luxe requires $3,334/month in spending or staking 15,000 ETHFI (~$20k+ depending on price). That's a big ask.
  • Physical card requires a $40 refundable deposit at Core tier. KYC is more complex than competitors. Delivery takes 15+ business days.

How It Works

The ether.fi Cash is a credit visa card linked to your ether.fi account. You can spend stablecoins directly. Top up via crypto, then spend anywhere visa is accepted. Earn 3% cashback in wETH on the first $2,000/month, 1% on $2,000–$3,000, 0.5% above $3,000. Paid monthly. cashback on purchases.

Fees Breakdown

Showing fees for Core tier.

Fee TypeAmount
Annual Fee$0
Monthly Fee$0
Issuance Fee$40
Conversion Fee0.2% fiat-to-crypto conversion fee.
Foreign Exchange Fee1% foreign exchange fee on all non-USD transactions.
Top-up FeeTop up via crypto deposit into vault. Borrow Mode: no top-up needed, spend against collateral. Direct Pay: deposit stablecoins.
ATM Free Limit$0/mo
ATM Fee After Limit2% per withdrawal. $250/day limit. Max 3 attempts per day (failed attempts count).

Note: Transactions settle in USD. Non-USD purchases converted at Visa rate + 1% FX fee.

Rewards & Cashback

Earn 3% cashback in wETH on the first $2,000/month, 1% on $2,000–$3,000, 0.5% above $3,000. Paid monthly. cashback on purchases. Rewards paid in wETH. Monthly cap: No hard cap, but rate steps down above $3,000/month..

Liquid Vaults: 5%+ APY on USDC, ~7% on Liquid ETH. Collateral earns restaking yield while backing your spending.

Entry Requirements

This tier is free to access — no staking, deposits, or spending requirements.

Free entry. Plastic card ($40 refundable deposit for physical, refunded if upgraded to Luxe within 12 months). Up to 3 virtual cards. $10,000/month fiat-to-crypto on-ramp.

Security

✓ Two-factor authentication. ✓ Instant card freeze. ✓ Biometric authentication. Custody model: non-custodial.

Insurance: Visa Signature: up to $10,000 purchase protection, extended warranty, global rental car insurance.

Licenses: Visa Signature card issued via Visa's issuer partner network., KYC verification required for all tiers.

ether.fi Cash operates as a non-custodial card with assets held in user-controlled Gnosis Safe wallets on Scroll (Ethereum L2). Card operations run through Visa's issuer partner network. KYC is required. The protocol itself is DeFi-native — smart contract risk applies to collateral, vaults and yield strategies.

Supported Currencies

Top up your card with multiple cryptocurrencies. Fiat top-ups supported in USD.

eETH / weETH (liquid restaked ETH — primary collateral)USDC (Direct Pay and Liquid Vault)ETH (Ethereum)BTC (Bitcoin — via Liquid Vault)eUSD / LiquidUSD (ether.fi stablecoin)ETHFI (governance token — used for tier staking)

Geographic Availability

ether.fi Cash is available in the US, UK and EEA. Some US states may be restricted. All transactions settle in USD; Euro support is planned but not yet live.

United States
UK
Europe (EEA)— EEA countries

Program Changes

2026-01-01Benefit Added

Physical card applications open. 'Spend, Eat, Earn' promo campaign with up to 15% cashback on dining, groceries and rideshares for new members.

Source →
2025-10-01Restructure

Introduction of 'The Club' four-tier membership system (Core, Luxe, Pinnacle, VIP) replacing previous flat reward structure. Tiered cashback based on monthly spending brackets.

Source →
2025-03-01Launch

ether.fi launches Cash Card — a non-custodial Visa Signature credit card built on Scroll, with Borrow Mode against staked ETH and cashback in wETH.

Source →

Editorial Review & Analysis

Our Real-World Experience

ether.fi Cash is the card we recommend for "DeFi Maxis." It is one of the first products that truly lets you live off your yield. By spending directly against your eETH (staked Ethereum), you stay productive while paying for your daily coffee.

Non-Custodial Security

The standout feature is that you maintain control of your assets. Unlike custodial cards where you trust an exchange, ether.fi Cash uses a non-custodial setup where your collateral stays on-chain until the moment of spend.

Who Is It For?

  • Yield Seekers: Those who want to spend their staking rewards without selling their principal.
  • Privacy Conscious: Users who prefer non-custodial solutions over centralized exchanges.

Who Is It For?

ETH long-term holdersDeFi-native users on Ethereum/Scrolltax-conscious crypto spenders (borrow-to-spend model)DAOs and crypto-native businesses

ether.fi Cash is the card for ETH long-term holders who want to spend without selling. Borrow against your staked ETH, keep earning restaking yield on your collateral, get up to 3% cashback in wETH, and avoid triggering a taxable sale — no other card does all four. The trade-offs: 1% FX fee on non-USD spending, 2% ATM fees, liquidation risk in Borrow Mode if ETH drops, and a loyalty-point system that rewards heavy users but can confuse casual ones.

Continue Reading

Understanding Crypto Card Fees: A Complete BreakdownCrypto Card Rewards Explained: Cashback, Staking & TiersCrypto Card Taxes Explained: What Happens When You Spend Crypto and Earn Cashback

Ready to apply?

Visit ether.fi to get started with the ether.fi Cash.

Visit ether.fi

* We may earn a commission when you apply through our links. This does not affect our editorial independence.