Updated September 28, 2026 · DebitCue Editorial Team
Nexo vs Upgrade
Nexo
Higher score in this comparison
Upgrade
Nexo vs Upgrade: the differences
| Compare | NexoReviewVisitVisit | UpgradeReviewVisitVisit |
|---|---|---|
| Monthly fee | €0 | $0 |
| Currency conversion fee | 0.2% to 2.5%Lower | 3% |
| Free ATM withdrawals | €200 to €2,000 | $0 |
| Cashback rate | 0.1% to 2% | 2% |
| Card network | Mastercard | Visa |
| Currencies | 100 | Not confirmed |
| Custody | Custodial | Not confirmed |
Same on both: Card type (Debit).
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Key differences
- Nexo is available in 35 more countries.
- Currency conversion fee is lower at Nexo: 0.2% to 2.5% vs 3%.
- Support channels: only Nexo offers Chat.
- Support channels: only Upgrade offers Phone.
- Features: only Nexo offers Multi currency, Crypto, Virtual card.
- Features: only Upgrade offers Rewards.
Our verdict on each
Nexo
Nexo suits people who hold crypto and want a card that costs nothing to keep and pays cashback in tokens. The monthly fee is €0, the cashback is paid in crypto rather than cash, and the conversion fee of 0.2% to 2.5% is the trade-off to weigh.
Upgrade
Upgrade pairs a free debit card with cash back on everyday spending, so it suits people who want no monthly charge and a reward on routine bills. The currency conversion charge of 3% is the catch, and that makes it a weaker fit for regular travel spending.
Score breakdown
| Area | Nexo | Upgrade |
|---|---|---|
| Cost | 9.2HigherFree monthly and annual fees sit against a currency conversion fee of 0.2% to 2.5%, so spending abroad costs more. | 8.7Monthly fee $0 and annual fee $0 help, but conversion of 3% and free withdrawals of $0 weigh on it. |
| Offer | 9.3Higher | 9.2Rewards are cashback, with a checking base rate of 2% and uncapped category rates on fuel, groceries, streaming and utilities. |
| Trust | 8.4 | Not confirmed |
How they place
| Ranking | Nexo | Upgrade |
|---|---|---|
| Debit cards | 11 of 1336 | 34 of 1336 |
| Credit cards | 10 of 1020 | 28 of 1020 |
| Cashback cards | 2 of 203 | 10 of 203 |
Where each is licensed and available
| Country | Nexo | Upgrade |
|---|---|---|
| Argentina | Not confirmed | |
| Australia | AUSTRAC (Australia) DCE100843695-001 | Not confirmed |
| Hong Kong | Companies Registry (Hong Kong) TC007556 | Not confirmed |
| Poland | Ministry of Finance (Poland) RDWW-533 | Not confirmed |
| Seychelles | Not confirmed | |
| United States | Not confirmed |
Available in 1 country for both. Additional countries for Nexo: 35.
A third option
eToro has currency conversion fee at 0%, against 0.2% to 2.5% for Nexo and 3% for Upgrade.
eToro reviewWhat we checked
Nexo
- nexo.com: 13 facts, checked September 26, 2026
Upgrade
- upgrade.com: 10 facts, checked September 26, 2026
Every fact side by side
| Fact | Nexo | Upgrade |
|---|---|---|
| Features | Multi currency, Crypto, Virtual card, Custodial, Travel | Rewards |
| Audience | Business | Not confirmed |
| Legal entity | DiPocket UAB | Upgrade, Inc. |
| Headquarters | Not confirmed | United States |
| Founded | 2018 | Not confirmed |
| Support channels | Chat, Email, Help centre | Email, Phone, Help centre |
Credit cards
| Fact | Nexo | Upgrade |
|---|---|---|
| Annual fee | €0 | $0 |
| APR | from 1.9% | Not confirmed |
| Rewards type | Cashback | Cashback |
| Pricing model | No annual fee | No annual fee |
| Rewards rate | Up to 2% crypto cashback in NEXO Tokens, or 0.5% in BTC at Platinum tier, on purchases in Credit Mode | 3% cash back on gas, groceries, streaming and monthly subscriptions, and utilities; 1% on everything else, uncapped |
| Perks | Free ATM withdrawals up to EUR 2,000 / GBP 1,800 per month at Platinum tier, then 2% fee (min EUR/GBP 1.99), Apple Pay and Google Pay supported, Interest earned on unspent funds (Nexo Loyalty Program, up to 13% per year), Accepted at over 100 million merchants globally, Virtual card activated instantly with 50 USD balance; free shipping for physical card above 5,000 USD balance at Gold tier or higher, No monthly, annual or inactivity card fees | Visa Zero Liability protection, Travel and Emergency Assistance Services, Roadside Dispatch, Upgrade Shopping offers, Rewards do not expire, 24/7 fraud monitoring and real time alerts, Flexible payment options Pay Now, Pay in 4, Pay Over Time (coming soon) |
| Cashback rate | 0.5% to 2% | Not confirmed |
| Card kind | Credit | Credit |
Where each stands against the rest
| Fact | Nexo | Upgrade | Median |
|---|---|---|---|
| Currency conversion fee | 0.2% to 2.5%below the median | 3%highest quarter | 1 |
| Cashback rate | 0.1% to 2%at the median | 2%at the median | 2 |
| Currencies | 100highest quarter | Not confirmed | 8 |
Median across 387 listed cards.
Pros and cons
Nexo
Pros
- Free to keep: the monthly fee is €0 and the annual fee is €0.
- Cashback of 0.5% to 2% paid in NEXO Tokens, or in BTC at the Platinum tier.
- Free ATM withdrawals of €200 to €2,000 each month at the Platinum tier.
Cons
- Currency conversion costs 0.2% to 2.5%, above the site median of 1%.
- Support runs on chat, email and help centre only, with no phone line.
- Custody sits with the provider: the account is custodial, not self-custody.
Upgrade
Pros
- The debit account's monthly fee is $0 and the credit card's annual fee is $0, so both are free to run.
- Perks include Visa Zero Liability protection, roadside dispatch, travel and emergency assistance, and fraud monitoring with real time alerts.
- Support runs on email, phone and help centre.
Cons
- A currency conversion charge of 3% is the weak spot, ranking 218 of 259 brands on this measure.
- The free ATM allowance is $0, so cash machine withdrawals are not free.
- Cash back on the checking side runs at 2%, below the richer category rates the credit card pays.
Who each suits
Nexo
Who it suits
- Crypto holders who want everyday spending to pay part of the cost back in tokens.
- Business users, the audience Nexo lists, who pay across several of the 100 supported currencies.
- Travellers who keep their cash withdrawals inside €200 to €2,000 each month.
Who should look elsewhere
- Wise, for anyone who wants a multi-currency account without crypto cashback or interest on unspent funds.
- Varo Believe Secured Credit Card, for a secured credit card rather than a crypto-linked card, at a monthly fee of $0.
- Chime Card (Secured Visa Credit Card), for building credit on a secured card, at a monthly fee of $0.
Upgrade
Who it suits
- People who want a debit card with a monthly fee of $0 and cash back on routine household spending.
- Spenders who keep their balance in a single currency and travel little, given a conversion charge of 3%.
- Card users who want help by phone and email as well as a help centre, through email, phone and help centre.
Who should look elsewhere
- Wise, if currency conversion is your main cost, because Upgrade charges 3% on it.
- Starling Personal Account Debit Card, if you take out cash often, since Upgrade's free ATM allowance is $0.
Country by country
| Country | Nexo | Upgrade |
|---|---|---|
| Argentina | Yes | No |
| Australia | Yes | No |
| Austria | Yes | No |
| Belgium | Yes | No |
| Bulgaria | Yes | No |
| Croatia | Yes | No |
| Cyprus | Yes | No |
| Czechia | Yes | No |
8 of 36 countries where either is available.
Questions about each
Nexo
What does it cost to keep the Nexo card?+
The monthly fee is €0 and the annual fee is €0, and Nexo states there are no monthly, annual or inactivity card fees. The account is aimed at business users, so holding the card adds no fixed running cost to a budget.
What is the currency conversion fee?+
Conversion costs 0.2% to 2.5%, which sits above the site median of 1%. Spending in a currency other than your balance currency is the main cost to plan for, and free ATM withdrawals only run to €200 to €2,000 a month at the Platinum tier.
Upgrade
Is there a fee for keeping the account open?+
No. The monthly fee is $0 and the card carries an annual fee of $0, so nothing is added to your regular outgoings just for holding the account. Spending in another currency is the main extra cost to plan around.
What does Upgrade charge for currency conversion?+
A charge of 3% applies when you spend in a currency other than the one your balance is held in. It is the biggest cost to budget for, and it ranks 218 of 259 brands on this measure, so frequent travellers get a poorer deal here.