SafePal Mastercard

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SafePal Mastercard scores 8 of 16 on the CBL Card Score. SafePal, Mastercard. Cash tokens in your wallet; fiat with Fiat24. Fiat24 (SR Saphirstein AG), FINMA fintech licence.

CBL Card Score: 8 of 16

Criterion	Points	What we found	Source
Custody	1 of 2	Hybrid, scored as custodial. The card spends from a Fiat24 account whose balance is booked as ERC20 cash tokens (USD24, EUR24, CHF24) on Arbitrum in the user's own SafePal wallet (official, SafePal help centre article on EUR24, USD24 and CHF24 tokens, title only; Fiat24 terms section 7(c)). The underlying fiat is a deposit with SR Saphirstein AG, and the Swiss Deposit Protection Scheme does not apply (official, Fiat24 terms section 7(b), effective 21 April 2026). No segregation statement found. SafePal says it does not collect or access KYC data and only provides a gateway (official, FAQ, updated 25 Jul 2026).	official checked 20 October 2026
Issuer and licence	2 of 2	Fiat24, which is SR Saphirstein AG, Switzerland, named as the principal issuer of the Mastercard debit card, BIN 5481 0849 (official, docs.fiat24.com card page). Licence: Fintech licence under Article 1b of the Swiss Banking Act, FINMA supervised, listed on the FINMA fintech licence list dated 20 Oct 2026 (official, FINMA). SafePal's own pages name Fiat24 but not SR Saphirstein AG (official).	official checked 20 October 2026
Availability	0 of 2	Could not be confirmed open. SafePal's registration and FAQ articles, updated 25 Jul 2026, describe an open sign-up flow with no pause (official). Every SafePal account is a new Fiat24 client account, and Fiat24's homepage and Individual Account page say it is in maintenance mode and "not accepting any new applications" with no end date (official, fiat24.com, checked 20 Oct 2026). SafePal's "on-ramp feature for the fiat gateway has been disabled until further notice" (official, SafePal blog, update dated March 2026). The supported regions page loads by script and showed no countries (official, safepal.com/en/bank/regions). Fiat24 excludes US Persons and nationals of Iran, North Korea and Russia (official). UK and Gulf not confirmed.	official checked 20 October 2026
FX fee on a foreign-currency purchase	1 of 2	"Mastercard non-USD settlement: 1% currency exchange fee" (official, SafePal fee rates article, updated 25 Jul 2026). The card is activated with a USD stablecoin deposit, so a European cardholder paying in dirhams pays 1%.	official checked 20 October 2026
Funding cost	1 of 2	Sources conflict. The fee rates article says "The standard deposit/top-up fee is set at 0%" and "There are no account opening fees, management fees, or any other additional charges" (official, updated 25 Jul 2026). The tiers article says Silver users pay the standard 1% on deposit and receive a 0.1% rebate after the top-up (official, updated 25 Jul 2026). The bank page says crypto top-up fees "as low as 0.4%" at the highest tier and fiat transfer fees "as low as 0.6%" (official). Fiat24's own pricing lists 1% on Standard (official, effective 1 June 2024). Zero-fee rebates can be redeemed once the account holds 5 USDC (official, SafePal blog). Virtual card free; activation needs a 10 USDC deposit, which stays the user's balance (official, activation article, updated 25 Jul 2026). No physical card. Gas on Arbitrum applies to all transactions (official). Refund processing fee 1 USD, 1 EUR, 1 CHF or 7 CNH per refund (official, fee rates article). Scored at the midpoint because the official pages disagree.	official checked 20 October 2026
Apple Pay and Google Pay	2 of 2	Apple Pay, Google Pay and Samsung Pay, with setup steps for each (official, help centre article on linking the Mastercard to PayPal, Apple, Google and Samsung Pay, updated 25 Jul 2026).	official checked 20 October 2026
Freeze and dispute policy	1 of 2	SafePal's help article offers spending toggles (contactless, online) and no freeze procedure or dispute guidance (official, updated 25 Jul 2026). The issuer's card terms require lost or stolen cards to be reported without delay and Fiat24 will block the card; unauthorised transactions must be reported no later than 2 months from the transaction date; no chargeback route beyond a merchant refund and no response time (official, Fiat24 card terms and general terms section 14(a)). Fiat24 customer service runs through a Telegram bot (official, SafePal FAQ).	official checked 20 October 2026
Yield on idle balance	0 of 2	None. "Fiat24 does not pay any interest on client deposits" (official, Fiat24 terms section 7(b)). SFP staking earns tier points, not interest (official, tiers article).	official checked 20 October 2026

Total 8 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

8 of 16

First score

Standing

Company	SafePal, a hardware and software wallet company founded in 2018, runs a "Fiat Gateway" inside its app. The account and card are provided by Fiat24, which SafePal says "solely handles the compliance and licensing aspect" (official, safepal.com/en/bank). Fiat24 is the brand of SR Saphirstein AG, Zurich, which holds a Fintech licence under Article 1b of the Swiss Banking Act, is supervised by FINMA, and appears on FINMA's fintech licence list dated 20 Oct 2026 (official, fiat24.com and FINMA register). SafePal announced an investment in Fiat24 in March 2024 (third-party: Crowdfund Insider, Mar 2024, title seen in search results). One entity serves all regions (official).
Network	Mastercard (official, safepal.com/en/bank and help centre, checked 20 Oct 2026). The product launched as a Visa card in March 2024 (third-party: Crowdfund Insider, Mar 2024) and Fiat24 moved to Mastercard in December 2024 (third-party: cryptocardhub, 11 Aug 2026). official
Rails	SafePal provides the app and gateway only. Fiat24, the brand of SR Saphirstein AG, issues the Mastercard under its own FINMA fintech licence, performs KYC and holds client fiat as deposits. Balances are mirrored as cash tokens in the user's SafePal wallet on Arbitrum (official).
Website	www.safepal.com/en/bank
Health tag	Watch The issuer holds a FINMA fintech licence and sits on the FINMA register, but Fiat24 has closed new client applications with no end date, SafePal's fiat on-ramp has been disabled since March 2026, and client deposits carry no Swiss deposit insurance (official register, Fiat24 pages and SafePal blog).
Last checked	20 October 2026

When it goes wrong

SafePal's help article offers spending toggles (contactless, online) and no freeze procedure or dispute guidance (official, updated 25 Jul 2026). The issuer's card terms require lost or stolen cards to be reported without delay and Fiat24 will block the card; unauthorised transactions must be reported no later than 2 months from the transaction date; no chargeback route beyond a merchant refund and no response time (official, Fiat24 card terms and general terms section 14(a)). Fiat24 customer service runs through a Telegram bot (official, SafePal FAQ).

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	"Mastercard non-USD settlement: 1% currency exchange fee" (official, SafePal fee rates article, updated 25 Jul 2026). The card is activated with a USD stablecoin deposit, so a European cardholder paying in dirhams pays 1%. official
Funding	Sources conflict. The fee rates article says "The standard deposit/top-up fee is set at 0%" and "There are no account opening fees, management fees, or any other additional charges" (official, updated 25 Jul 2026). The tiers article says Silver users pay the standard 1% on deposit and receive a 0.1% rebate after the top-up (official, updated 25 Jul 2026). The bank page says crypto top-up fees "as low as 0.4%" at the highest tier and fiat transfer fees "as low as 0.6%" (official). Fiat24's own pricing lists 1% on Standard (official, effective 1 June 2024). Zero-fee rebates can be redeemed once the account holds 5 USDC (official, SafePal blog). Virtual card free; activation needs a 10 USDC deposit, which stays the user's balance (official, activation article, updated 25 Jul 2026). No physical card. Gas on Arbitrum applies to all transactions (official). Refund processing fee 1 USD, 1 EUR, 1 CHF or 7 CNH per refund (official, fee rates article). Scored at the midpoint because the official pages disagree. official
ATM	No ATM withdrawals. The Fiat24 card is virtual only with no PIN (official, docs.fiat24.com card page). SafePal pages do not mention ATMs. Spending limits: contactless 1,600 EUR per day, other payments 5,000 EUR per day (official, safepal.com/en/bank); $100,000 per month where the Mastercard is supported, $1,000 per month without it (official, regions page).
Tiers	Points-based tiers reassessed on the 1st of each month from the previous three months; registration gives 1,500 points; 3,000 points reaches Silver; higher tiers, SFP staking amounts and rebate rates are shown only in images (official, tiers article, updated 25 Jul 2026). SFP stakes lock for 90 days (official). Fiat24's own tiers are Standard, Premium and Ultimate by NFT length (official, Fiat24 pricing).

Cashback, as of 20 Oct 2026

None found on any official SafePal or Fiat24 page (checked 20 Oct 2026). Referral commissions of up to 40% of referred users' top-up fees, depending on the referrer's tier (official, safepal.com/en/bank).

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

Availability

Could not be confirmed open. SafePal's registration and FAQ articles, updated 25 Jul 2026, describe an open sign-up flow with no pause (official). Every SafePal account is a new Fiat24 client account, and Fiat24's homepage and Individual Account page say it is in maintenance mode and "not accepting any new applications" with no end date (official, fiat24.com, checked 20 Oct 2026). SafePal's "on-ramp feature for the fiat gateway has been disabled until further notice" (official, SafePal blog, update dated March 2026). The supported regions page loads by script and showed no countries (official, safepal.com/en/bank/regions). Fiat24 excludes US Persons and nationals of Iran, North Korea and Russia (official). UK and Gulf not confirmed. official

Identity checks: Performed by Fiat24. Passport scan through the ReadID app, email and phone verification, address verification by device location within 2 km of the stated address, and a sole beneficial owner confirmation. The wallet needs 0.0001 ETH on Arbitrum for verification, with no fee charged (official, registration article, updated 25 Jul 2026). Fiat24 also requires a tax identification number and excludes US Persons and PEPs (official, Fiat24 Individual Account page).

What we still need confirmed

Facts marked official come from SafePal'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:

• Whether a new SafePal user can open a Fiat24 account today. Rescore availability once the regions list can be read: 1 if two of EU, UK and Gulf are served, 2 if all three. open
• The real Standard top-up fee: 0% per the fee page or 1% with rebate per the tiers page. Rescore funding to 2 if 0% is charged with no rebate condition, to 0 if 1% is charged outright. open
• Whether the card is issued in USD only or can be set to EUR. Rescore fx to 2 if a EUR card pays 0% on EUR spend and the 1% applies only outside the card currency with no markup on the Mastercard rate. open
• Dispute response time from Fiat24. Rescore freeze to 2 if a response time is published alongside the 2 month window. 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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