Plutus Card

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Plutus Card scores 4 of 16 on the CBL Card Score. Plutus, Visa. Custodial; segregated accounts at an unnamed partner. Modulr dropped Oct 2025; new issuer unnamed.

CBL Card Score: 4 of 16

Criterion	Points	What we found	Source
Custody	1 of 2	Custodial. The card spends from a fiat current account run by a banking partner, with the terms stating that "your funds are safeguarded in segregated accounts and are not used for lending or investment" (official, EUR and GBP terms, section 10.11, updated 8 Apr 2025). The partner safeguarding policy page is dated February 2023 and its link to the actual policy is empty (official). Since the Modulr contract ended, customer funds were returned and a claims process exists for funds still stuck at Modulr (official, Q1 migration FAQ, 20 Feb 2026).	official checked 20 October 2026
Issuer and licence	0 of 2	Not disclosed today. The GBP terms still list the "Plutus Debit Card and Plutus Current Account (via Modulr)" and describe the partner as "an authorised Electronic Money Institution" without naming a regulator or licence number (official, GBP terms, updated 8 Apr 2025). The EUR terms call the card "currently suspended" and "temporarily unavailable as we transition to a new banking partner" (official, sections 1.8 and 10.1). Plutus says the new partner "will only be revealed once the related features are live" (official, Q1 migration FAQ, 20 Feb 2026). Modulr FS Limited was described as an FCA-regulated e-money institution (third-party: SpendNode, 24 Jul 2026).	official checked 20 October 2026
Availability	0 of 2	The supported countries page lists the UK (England, Northern Ireland, Scotland, Wales) and 27 EEA countries (official, checked 20 Oct 2026). No Gulf or US service. Card spending "is not possible" while the migration runs, with new cards promised for "this summer" and no restart date given (official, Q1 migration FAQ, 20 Feb 2026). A third party could not confirm that spending had resumed as of 16 Oct 2026 (third-party: cardpilled, 16 Oct 2026). Scored as waitlist-only because existing and new customers are waiting for the replacement card.	official checked 20 October 2026
FX fee on a foreign-currency purchase	0 of 2	2.5% on non-domestic transactions, defined as any transaction in a currency other than the card's currency, on all three plans (official, plutus.it/fees, checked 20 Oct 2026). The page gives no separate FX markup beyond this.	official checked 20 October 2026
Funding cost	1 of 2	Fiat deposit free, fiat withdrawal free (official, fees page). Virtual card free with a 14-day trial, physical card €9.99 or £9.99 (official, fees page and plans page). Plans cost £/€6.99 (Starter), 9.99 (Everyday) and 19.99 (Premium) a month with a promotional discount applied and no regular price shown (official, plutus.it/plans). A free PlutusLite mode exists as an opt-out (official, Q1 migration FAQ). Trading fee 1% on Starter, 0% on the other plans (official, fees page). No stablecoin top-up route found. Delivery fee and inactivity fee: not found.	official checked 20 October 2026
Apple Pay and Google Pay	1 of 2	Google Pay is supported; for Apple Pay the help centre says direct addition "will be available in 2025" and suggests Curve as a workaround (official, Virtual Cards FAQ). The migration FAQ promises Apple Pay "on day one of completing the migration" (official, 20 Feb 2026). Both are reported as working by one review (third-party: SpendNode, 24 Jul 2026) while another says Apple Pay is not confirmed on the current stack (third-party: cardpilled, 16 Oct 2026).	official checked 20 October 2026
Freeze and dispute policy	1 of 2	Freeze and unfreeze from the app or web dashboard (official, help article "Freezing Your Card"). Lost or stolen cards must be reported within 24 hours of becoming aware, or liability for unauthorised transactions may rise (official, terms section 10.6). Complaints get a written reply within 15 business days, never more than 35 (official, EUR terms section 34.7). Chargebacks appear in the terms only as a reason to restrict an account (official, section 29.6). No dispute window or response time for card disputes is published.	official checked 20 October 2026
Yield on idle balance	0 of 2	None. No interest or yield on the card balance or account is mentioned on the fees, plans or rewards pages (official, checked 20 Oct 2026).	official checked 20 October 2026

Total 4 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

4 of 16

First score

Standing

Company	Plutus is the trading name of Block Code Ltd, registered in England and Wales, company number 09674279, with Block Code LT UAB, company number 305848086, as the Lithuanian entity that provides the services under the EUR terms (official, plutus.it footer and EUR terms). No licence or regulator is named for either entity on the pages checked. The former banking partner, Modulr, was dropped in October 2025 and the replacement has not been named (official, Q1 migration FAQ, 20 Feb 2026).
Network	Visa (official, help article "Where Can I Use My Card?" describes it as a VISA debit card; the fees page heads its purchase fees "Point of Sale (Visa)"). official
Rails	Plutus does not issue the card itself. The former issuer, Modulr, was dropped in October 2025, and the terms now describe only an unnamed "authorised Electronic Money Institution" that will hold the current account in segregated accounts (official).
Website	www.plutus.it
Health tag	Watch Card spending has been paused since Plutus ended its Modulr contract in October 2025, the replacement issuer is still unnamed, and some customer funds needed a claims process to get back (official migration FAQ, 20 Feb 2026; third-party cardpilled, 16 Oct 2026).
Last checked	20 October 2026

When it goes wrong

Freeze and unfreeze from the app or web dashboard (official, help article "Freezing Your Card"). Lost or stolen cards must be reported within 24 hours of becoming aware, or liability for unauthorised transactions may rise (official, terms section 10.6). Complaints get a written reply within 15 business days, never more than 35 (official, EUR terms section 34.7). Chargebacks appear in the terms only as a reason to restrict an account (official, section 29.6). No dispute window or response time for card disputes is published.

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. No issuer is disclosed here, so the third step has nowhere to go yet. A frozen card is a question, not a verdict: the Frozen Account Survival Kit applies to cards too.

Costs

FX	2.5% on non-domestic transactions, defined as any transaction in a currency other than the card's currency, on all three plans (official, plutus.it/fees, checked 20 Oct 2026). The page gives no separate FX markup beyond this. official
Funding	Fiat deposit free, fiat withdrawal free (official, fees page). Virtual card free with a 14-day trial, physical card €9.99 or £9.99 (official, fees page and plans page). Plans cost £/€6.99 (Starter), 9.99 (Everyday) and 19.99 (Premium) a month with a promotional discount applied and no regular price shown (official, plutus.it/plans). A free PlutusLite mode exists as an opt-out (official, Q1 migration FAQ). Trading fee 1% on Starter, 0% on the other plans (official, fees page). No stablecoin top-up route found. Delivery fee and inactivity fee: not found. official
ATM	2.5% on every ATM withdrawal, no free allowance; balance enquiry and PIN change free (official, fees page).
Tiers	Starter £/€6.99, Everyday £/€9.99, Premium £/€19.99 a month, promotional prices (official, plans page). Reward levels above 3% depend on PLU held (third-party: SpendNode and cardpilled).

Cashback, as of 20 Oct 2026

3% on eligible card spend on every plan, rising to 9% through PLU stake levels (official, plutus.it/rewards and plutus.it/plans, checked 20 Oct 2026). Eligible spend is capped at £/€250, 500 or 1,000 a month by plan (official, fees page). Rewards are now called PLUS and accrue as in-app points while card spending is paused (official, Q1 migration FAQ, 20 Feb 2026). The top rate needs 40,000 PLU staked (third-party: SpendNode, 24 Jul 2026).

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

Availability

The supported countries page lists the UK (England, Northern Ireland, Scotland, Wales) and 27 EEA countries (official, checked 20 Oct 2026). No Gulf or US service. Card spending "is not possible" while the migration runs, with new cards promised for "this summer" and no restart date given (official, Q1 migration FAQ, 20 Feb 2026). A third party could not confirm that spending had resumed as of 16 Oct 2026 (third-party: cardpilled, 16 Oct 2026). Scored as waitlist-only because existing and new customers are waiting for the replacement card. official

Identity checks: Identity verification is needed before a virtual card is issued; legal residence in a supported country is required (official, supported countries page; third-party: SpendNode).

What we still need confirmed

Facts marked official come from Plutus'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:

• Name and licence of the new banking partner. Rescore issuer to 2 if a bank or EMI is named with its licence. open
• Whether card spending has resumed for UK and EEA customers. Rescore availability to 1 when it has. open
• Apple Pay on the new card stack. Rescore wallets to 2 if both wallets work. open
• FX fee on the new cards. Rescore fx to 1 or 2 if the 2.5% non-domestic fee is cut. open
• Whether a plan subscription is the only way to keep a card after the 14-day trial. Rescore funding to 0 if PlutusLite does not include a card. open
• Any licence held by Block Code LT UAB with the Bank of Lithuania or FCIS. open
• tile_color taken from the dominant colour of the logo file in assets/logos/ on 20 Oct 2026; confirm against brand assets. open

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

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