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.

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. So for example, if you set your secondary as BTC, it would be IBAN + BTC.

Below is how the total spendable balance is calculated:

  • If you select any stablecoin as your secondary payment currency then the total spendable balance = (90% x stablecoin balance) + IBAN balance

  • For BTC, ETH or other crypto that you select, the total spendable balance = (80% x crypto balance) + IBAN balance

Can I spend all of my Crypto?

Your limit is based on the market value of the crypto assets that you hold.

i) You can spend up to 90% of your stablecoins.

ii) You can spend up to 80% of Bitcoin, Ether, and other supported crypto assets.

Did this answer your question?