Have questions on how to use the CoinSpot Mastercard or are experiencing any issues when using the CoinSpot Mastercard? We have provided users with an article on FAQ dedicated to card usage!
For further questions related to the CoinSpot Mastercard please have a read of our other FAQ articles:
What is in this article?
- What are the fees?
- Will the fees be charged as AUD or Crypto?
- What are the daily limits on the CoinSpot Mastercard?
- How do I add to Apple Wallet or Google Wallet?
- How do I set/change the PIN on my CoinSpot Mastercard?
- How to top up my CoinSpot Mastercard?
- Is there an expiration date for the card?
- How will refunds work using my card?
- Why is my transaction being declined?
- I have enough funds in my wallet, why is my transaction not processing?
What are the fees?
Customers can enjoy no activation and no ongoing fees for a CoinSpot Mastercard.
There are no fees when using AUD to make transactions.
The only fee involved is a flat 1% conversion fee when using the CoinSpot Mastercard for a transaction.
Subsequent fees and surcharges are determined by the merchant where the purchase has been made.
Will the fees be charged as AUD or Crypto?
Any transaction fees will be charged as cryptocurrency. Essentially you will be selling your coins for AUD to complete the transaction.
What are the daily limits on the CoinSpot Mastercard?
The daily limits set on the CoinSpot Mastercard will be $4,999 AUD per 24hr.
How do I add to Apple Wallet or Google Wallet?
For instructions on how to add to Apple Wallet or Google Wallet, please follow the guide within the relevant articles below.
- CoinSpot Mastercard - How to add your CoinSpot Mastercard to Apple Pay
- CoinSpot Mastercard - How to add your CoinSpot Mastercard to Google Pay
How do I set/change the PIN on my CoinSpot Mastercard?
To set up or change your PIN on your CoinSpot Mastercard, please have a read of the following article below.
How to top up my CoinSpot Mastercard?
As the CoinSpot Mastercard is linked to assets held in your account, you will either need to:
- Switch the coin linked to the card
- Top up the crypto
- Set AUD as your card wallet preference
For further information, please refer to the following article below.
Is there an expiration date for the card?
Like a physical card, your digital will expire for security reasons. Please contact our Support Team if you wish to renew your card.
How will refunds work using my card?
When requesting for a refund from a merchant, this will be the same process as a refund using a standard bank debit/credit card. Please refer to the merchant representative as they will be able to advise what is required to perform a refund and the expected timeframe to receive your refund.
Please note, certain merchants may require a pre-authorisation amount prior to completing your transaction. Once the merchant has completed this process, the pre-authorisation amount will be returned to your CoinSpot account as AUD.
The pre-authorisation amount will be determined by the merchant, each merchant may have a different pre-authorisation amount.
After a refund has been completed by the merchant, the funds along with the pre-authorisation amount will be reimbursed as AUD, please allow up to 1-5 Business Days for the funds to be processed back into your CoinSpot account.
Why is my transaction being declined?
If your transaction is being declined, please ensure the following.
Online purchases
- Check whether you have entered the same billing address as your CoinSpot Mastercard.
If you need to update your residential address, please reach out to us here. - Check whether you have entered the correct card number.
- Check whether you have entered the correct expiration date.
- Check whether you have entered the correct CVC number on the back of your card.
- Check whether there is sufficient funds in your Card Wallet Preference to cover the transaction cost.
- Check whether your CoinSpot Mastercard has been disabled.
- Check whether you have exceeded your daily spending limit.
- Reach out to the merchant to see why your card was not accepted.
In-Store purchases
- Check whether the merchant accepts prepaid Mastercards.
- Check whether the merchant accepts contactless payments from Apple Pay, Google Pay or Samsung Pay.
- Check whether there is sufficient funds in your Card Wallet Preference to cover the transaction cost.
- Check whether your CoinSpot Mastercard is disabled.
- Check whether you have exceeded your daily spending limit.
- The payment network for your Digital Wallet may be offline, in which you should try again later.
- Discuss with the merchant to see why your card was declined.
I have enough funds in my wallet, why is my transaction not processing?
When making a purchase at a merchant, please ensure a nominated coin can cover the purchase.
For example, you are looking to purchase a product worth $60 AUD. You have $50 in BTC and $20 in ETH saved as your Card Wallet Preference.
Your transaction will be unsuccessful as you will need $60 of a single coin to cover the purchase. You will not be able to make split transactions to cover a purchase.
Need more help?
Please submit your request via Zendesk - https://coinspot.zendesk.com/hc/en-us/requests/new
or start a conversation with us via Live Chat and our team will provide full instructions and advice.
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