Spend Crypto & Fiat

All about funding your Card with Crypto or your personal IBAN, your calculating your spendable balance and more

Written by Angelina
Updated over a week ago

You can use your hi Debit Card to spend both fiat and crypto assets.

To make a purchase using your debit card, you will need to have funds in your IBAN account (either Euros or Pound Sterling) or hold crypto assets.

As of 8th of October 2023, residents of the United Kingdom will not be eligible to spend Crypto or receive Spend Rewards / Rebates. Read the full notice here

How do I fund my Card with Fiat?

Deposit funds (EUR/GBP) into your Personal IBAN in order to fund your card with fiat currencies.

The minimum IBAN Deposit amount is 10 EUR/GBP. Deposits under this amount incur a 1 EUR/GBP service fee. Deposits less than 1 EUR/GBP will not be processed.

Your personal IBAN (EUR/GBP) is already linked to your Debit Card.

Your Debit Card is by default linked to the local currency IBAN. For instance - if you reside in the UK and have a GBP IBAN with hi we simply link it to your debit card and your default spend currency becomes GBP. Similarly for the EEA and EUR IBANs.

Why does hi provide a Secondary funding option?

Your Debit Card transactions are covered by EUR/GBP funds in your IBAN. Additionally, you can choose to pay with Crypto assets you hold with hi. This enables you to conveniently spend your fiat and crypto assets at any supported merchants worldwide. To spend with crypto, simply set a secondary payment currency for your card.

How do I set my Secondary Payment Currency (Crypto)?

During Card Setup you will be asked to set a secondary payment currency. You can only assign 1 Secondary Payment Currency at a time.

You can also set your Secondary Payment Currency from the Debit Card page in the hi App. Select the option of ‘Set Secondary Payment’ and select your desired crypto currency as the secondary payment option for your Card.

If your secondary payment currency funds run out, you either need to top up or assign another secondary payment currency.

What is my Total Spendable Balance?

Total Spendable Balance is the sum of your IBAN holdings, plus your secondary payment currency holdings in Flexible account. So for example, if you set your secondary as BTC, it would be IBAN balance + BTC balance.

Can I spend all of my Crypto?

You have the ability to spend all of the supported cryptocurrency assets at your disposal. Your spending limit is determined by the current market value of the crypto assets in your possession.

It is important to note that conversions will take place when using cryptocurrency for transactions, and the conversion rate may vary at the time of authorisation and settlement. Therefore, it is advisable to maintain a higher balance in your account to avoid any potential transaction failures resulting from insufficient funds due to fluctuations in the conversion rate upon settlement.

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