Deel review

Conversion costs 1%, the same as the median across the brands on the site (1%). It is a real charge on every conversion, so a contractor paid in euros and spending in another currency pays it each time.

The card is issued by Deel Payments Europe NV, based in Belgium, and holds payment institution licence PSD_PI BE_NBB!0783476423. BE_NBB is the named regulator for that market, so the entity behind the account is a supervised operator rather than an unlisted intermediary.

It is a prepaid card (prepaid) that runs on the Visa network (visa). A prepaid account is funded before you spend from it, so it behaves like a spending wallet rather than a card tied to a current account balance.

Multi-currency support is listed among the features (multi currency and virtual card), so the account can hold and use several currencies. That suits a contractor paid in a single currency and spending in others, without opening a separate account for each.

A virtual card is among the features (multi currency and virtual card), sitting alongside the prepaid balance (prepaid) on the Visa network (visa). A virtual card suits online subscriptions and payments you only authorise once, since it can be created and closed without a plastic card.

Deel ranks 125 out of 259 on the brands compared for currency conversion, with a fee of 1%. Many brands charge less, so the fee is competitive rather than the cheapest available, and the card's value rests more on multi-currency handling (multi currency and virtual card) than on the rate.

Skrill charges 3.99% for conversion, the most expensive in this group. Beyon Money and BFC Pay charge 0% and 0%, so Deel's 1% sits in the middle: cheaper than Skrill, dearer than the free end of this list.