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CL Card scores 9 of 16 on the CBL Card Score. Ledger and Baanx, Visa or Mastercard. Self-custody until loaded; e-money safeguarded by Monavate. UAB Monavate, Bank of Lithuania e-money licence.

CBL Card Score: 9 of 16

Criterion	Points	What we found	Source
Custody	1 of 2	Hybrid. Crypto stays in the user's own Ledger wallet until it is sent to the card; "once transferred, they are no longer under self-custody" (official, ledger-card page). On conversion, possession of the crypto passes to Baanx (official, CL Platform Terms 2025, sections 1 and 5.2). Money loaded to the card is e-money held in an "E-money Safeguarded Account" maintained by Monavate Ltd, an FCA-authorised e-money institution; fiat left in the platform wallet "is not e-money" and the terms say it is not safeguarded (official, CL Platform Terms 2025). The Monavate cardholder terms say the issuer follows the Electronic Money Regulations 2011 and that funds are not covered by the FSCS (official, Nov 2023).	official checked 20 October 2026
Issuer and licence	2 of 2	EEA: UAB Monavate, Vilnius, legal entity code 305628001, "authorised and regulated by the Bank of Lithuania under Authorisation Code: LB002139" (official, Monavate cardholder terms, Nov 2023). UK: Monavate Ltd, company 12472532, "FCA registered number 901097" (official, ledger-card page). US: Cross River Bank, Member FDIC (official, shop.ledger.com).	official checked 20 October 2026
Availability	1 of 2	"currently available in the EEA, the UK, the US, Canada, Switzerland, Colombia, Mexico, and Brazil" (official, ledger-card page FAQ, page modified 26 Nov 2025). The same page's hero still reads "US starting soon", and the October 2026 incident notice refers to US user accounts, so the US is served. No Gulf country is listed. New York and Vermont excluded in the US (third-party: CryptoCardHub, 11 Aug 2026).	official checked 20 October 2026
FX fee on a foreign-currency purchase	2 of 2	"Debit card payment in a foreign currency: €0.00 plus 0% of the transaction value" (official, Fee Information Document, UAB Monavate, 3 Nov 2023). The issuer adds no markup on the entry card. The separate CL Platform Fees page did not render in this check, and the cardholder terms (section 9.2) refer to a currency conversion margin set there. SpendNode lists 1.75% on non-base-currency spend (third-party, 3 Aug 2026); CryptoCardHub reads the same 1.75% as the crypto conversion fee and the FX fee as €0 (third-party, 11 Aug 2026).	official checked 20 October 2026
Funding cost	0 of 2	Virtual card free (official, shop.ledger.com "Free virtual card"). Physical card issuance €0.00, monthly maintenance €0.00, replacement €5.00, cancellation €3.50 (official, Fee Information Document, 3 Nov 2023). Delivery fee not found. The crypto conversion fee on spending is not published on any official page that rendered; third parties report a 1.75% conversion fee plus a 2% card spend fee on crypto-funded transactions (third-party: SpendNode, 3 Aug 2026; CryptoCardHub, 11 Aug 2026). EUR card loads from a bank balance cost €2 below €56 or €0.60 plus 2.49% above (third-party: CryptoCardHub). Bank withdrawals 3.49% (third-party: SpendNode).	third-party checked 20 October 2026
Apple Pay and Google Pay	2 of 2	"Use your card with Apple Pay and Google Pay" (official, shop.ledger.com). Google Pay terms published at withcl.com/legal (official).	official checked 20 October 2026
Freeze and dispute policy	1 of 2	Card can be blocked by reporting lost or stolen credentials; the issuer may suspend "immediately" on suspected fraud (official, Monavate cardholder terms, sections 11.2 and 14). Unauthorised transactions must be reported "no later than 1 month from the date of the payment transaction" (section 12.3); no refund timing, "We may carry out an investigation prior to issuing you with any refund" (section 12.4). Chargebacks are not mentioned in the cardholder terms. Complaints: acknowledged within three working days, written reply within 15 business days, at most 35 business days (official, CL Platform Terms 2025).	official checked 20 October 2026
Yield on idle balance	0 of 2	None on the card balance (official pages, nothing stated). Ledger offers crypto-backed credit lines through Cryptodraft and Stableloans "from 0%", closed to US residents (official, ledger-card page); borrowing, not yield.	official checked 20 October 2026

Total 9 of 16. Official means the company's own site, terms or help centre. Third-party means a named review site with its own check date; a third-party fact is reported, not verified, and the score stands until an official source confirms or contradicts it.

Score history

20 October 2026

9 of 16

First score

Standing

Company	Ledger promotes the card; it is "provided by Baanx" (official, ledger.com/en/ledger-card and shop.ledger.com). Contracting entities by region: Baanx Group Ltd (UK), Baanx US Corp (US) and Frozen Time UNIPESSOAL LDA (EU) (official, ledger-card page footnote). The CL platform operator is Baanx.com Ltd, London, UK company number 11155611 (official, CL Platform Terms of Use, Monavate 2025). Card and account issuers: UAB Monavate in the EEA, Monavate Ltd in the UK (FCA 901097), and Cross River Bank, Member FDIC, in the US (official).
Network	Visa in the US, "The VISA debit card offered in the US is in partnership with Cross River Bank, Member FDIC" (official, shop.ledger.com). The official EEA and UK pages checked do not name the scheme; the card launched on Mastercard in the UK and Europe (third-party: Blockworks, 24 Nov 2022) and withcl.com carries a Mastercard logo (official), while current reviews list Visa (third-party: SpendNode, 3 Aug 2026). official
Rails	Baanx runs the CL platform and holds crypto once it is sent to the card (official). UAB Monavate (Bank of Lithuania) and Monavate Ltd (FCA) issue the e-money account and card in the EEA and UK, and Cross River Bank issues the US Visa debit card (official).
Website	www.ledger.com/en/ledger-card
Health tag	Watch Issued by licensed e-money institutions with a safeguarding statement, but CL Card confirmed in October 2026 that an unauthorised party reached personal data of some US accounts through a third-party provider, and third parties reported paused card funding and paused UK issuance in August 2026 (official incident notice; third-party: CryptoCardHub).
Last checked	20 October 2026

When it goes wrong

Card can be blocked by reporting lost or stolen credentials; the issuer may suspend "immediately" on suspected fraud (official, Monavate cardholder terms, sections 11.2 and 14). Unauthorised transactions must be reported "no later than 1 month from the date of the payment transaction" (section 12.3); no refund timing, "We may carry out an investigation prior to issuing you with any refund" (section 12.4). Chargebacks are not mentioned in the cardholder terms. Complaints: acknowledged within three working days, written reply within 15 business days, at most 35 business days (official, CL Platform Terms 2025).

The dispute route, in order: the company's own support desk, then the card network's chargeback rules, then the regulator of the issuer where one is named. A frozen card is a question, not a verdict: the Frozen Account Survival Kit applies to cards too.

Costs

FX	"Debit card payment in a foreign currency: €0.00 plus 0% of the transaction value" (official, Fee Information Document, UAB Monavate, 3 Nov 2023). The issuer adds no markup on the entry card. The separate CL Platform Fees page did not render in this check, and the cardholder terms (section 9.2) refer to a currency conversion margin set there. SpendNode lists 1.75% on non-base-currency spend (third-party, 3 Aug 2026); CryptoCardHub reads the same 1.75% as the crypto conversion fee and the FX fee as €0 (third-party, 11 Aug 2026). official
Funding	Virtual card free (official, shop.ledger.com "Free virtual card"). Physical card issuance €0.00, monthly maintenance €0.00, replacement €5.00, cancellation €3.50 (official, Fee Information Document, 3 Nov 2023). Delivery fee not found. The crypto conversion fee on spending is not published on any official page that rendered; third parties report a 1.75% conversion fee plus a 2% card spend fee on crypto-funded transactions (third-party: SpendNode, 3 Aug 2026; CryptoCardHub, 11 Aug 2026). EUR card loads from a bank balance cost €2 below €56 or €0.60 plus 2.49% above (third-party: CryptoCardHub). Bank withdrawals 3.49% (third-party: SpendNode). third-party
ATM	Cash withdrawal in the UK €2.50 per withdrawal; foreign-currency withdrawal €3.00 plus 1.5%; balance enquiry €0.35 (official, Fee Information Document, 3 Nov 2023). Daily limits differ between reviews ($500, SpendNode; €2,000, CryptoCardHub).
Tiers	One card, virtual and physical, no paid tiers (official). Credit lines vary by country of residence (official).

Cashback, as of 20 Oct 2026

1% in BTC or USDT outside the US, 1% in BTC or USDC in the US, paid monthly on the month's total card transactions, "No staking required" (official, ledger-card page and shop.ledger.com, checked 20 Oct 2026). The ledger-card hero still shows "2% in BXX", the older Baanx token reward (official; third-party: Blockworks, 24 Nov 2022).

Cashback is a dated fact, not part of the Card Score. Promo rates change too often to score.

Availability

"currently available in the EEA, the UK, the US, Canada, Switzerland, Colombia, Mexico, and Brazil" (official, ledger-card page FAQ, page modified 26 Nov 2025). The same page's hero still reads "US starting soon", and the October 2026 incident notice refers to US user accounts, so the US is served. No Gulf country is listed. New York and Vermont excluded in the US (third-party: CryptoCardHub, 11 Aug 2026). official

Identity checks: Identity check in the Ledger Wallet or Ledger Live app before the card is issued; the official pages checked give no detail (official). Accounts capped at €1,000 or $1,000 until extra proof is approved (third-party: CryptoCardHub, 11 Aug 2026).

What we still need confirmed

Facts marked official come from Ledger and Baanx's own pages or terms. Facts marked third-party are reported by a named review site and count as reported, not verified. These items are open for the next Monday sweep:

• CL Platform Fees page: crypto conversion fee, card spend fee and any FX margin. Rescore fx to 0 if a 1.75% margin applies to foreign-currency purchases. Keep funding at 0 if the conversion fee is 1% or more. open
• Current card scheme for EEA and UK cards (Mastercard or Visa). open
• Whether new card funding and UK card issuance are still paused, as CryptoCardHub reported from Ledger support on 10 Aug 2026. Rescore health to Caution if funding is still blocked. open
• Whether Monavate's cardholder terms carry a refund or chargeback response time anywhere. Rescore freeze to 2 if yes. open
• Bank of Lithuania register entry for UAB Monavate, authorisation code LB002139, not reached within budget. open
• Scope of the October 2026 data incident outside the US. open

See a mistake? Email hi@cryptobanklist.com. Every factual correction is logged on our corrections page.

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