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Krak Card vs HSBC: fees, cashback & rewards compared

See how Krak Card stacks up against the HSBC debit card on FX fees, cashback, and everyday spending
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Feature comparison

The table below highlights the core features of each card so you can compare at a glance.
Krak Logo
Krak Card
HSBC logo
HSBC
Monthly fee
Free
Free with £1,000 overdraft
Cashback rewards
Yes, up to 2%1
No cashback on standard debit card
Salary match
Yes, up to 1%2
Number of supported assets
GBP
(up to 18 via Global Money)
Apple Pay / Google Pay
ATM withdrawals
Free worldwide3
Domestic: Free
International: 2%
(min £1.75, max £5)
FX fees
2.75%
Premium/Metal tier
Metal Card available
(avg £50,000 in combined assets)
HSBC Premier
(£75,000+ income or £100,000+ savings/investments)
Best for
Cashback seekers and fee-free international spenders
Full-service UK banking with global branch access
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Krak Card vs HSBC debit card:
who is cheaper?

Both cards are free to hold on a day-to-day basis, but the cost gap widens when you spend abroad or want to earn rewards. The table below breaks down how fees and charges compare.
Krak Logo
Krak Card
HSBC logo
HSBC
Monthly fees
Free
Free with £1,000 overdraft
FX fees
2.75%
FX fees on card payments
Mastercard rate4
0.2–1.5%1
Visa rate
0.25–1.54%
Exchange rate transparency
Available in app
Available in E-banking
Best for
Saving money on every international purchase
Domestic UK spending with traditional banking support
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Spending £1,500 abroad? Here's what it gets you.

Krak Logo

£1,500 will get you

€1,763

Up to €49 more

HSBC

£1,500 will get you

€1,714

Data as of March 2026

€49 less
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Cashback and rewards comparison

Cashback is one of the most meaningful ways a debit card can add value to your everyday spending. The table below breaks down how Krak Card and HSBC compare on rewards.
Krak Logo
Krak Card
HSBC logo
HSBC
Cashback support
Cashback rate
Up to 2%
Cashback currency
GBP
(or other supported currencies)
Subscription required for cashback
N/A
Cashback payout destination
Krak account balance
N/A
Cashback payout timing
Instant at settlement
N/A
Monthly spend example
None
Best for
Earning real, automatic cashback on daily purchases
Users who don’t prioritize debit card rewards

Cashback example: If you spend £2,000 a month on groceries, transport, and subscriptions, Krak Card puts up to £40 straight back into your account every month — that’s a possible £480 per year. 

HSBC’s standard debit card doesn’t offer any cashback program. To earn rewards with HSBC, you’d need to apply for one of their credit cards, which is a separate product with its own eligibility requirements and interest charges.

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Monthly cashback simulator

At

Krak Card

HSBC

1 month

£40.00

£0.00

6 months

£240.00

£0.00

1 year

£480.00

£0.00

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At a glance

Find out which card is better suited to your specific needs using the table below.
The bottom line
The bottom line
Best for international spending
Krak Card. No FX fees and global ATM withdrawals with no Krak fees make it the stronger choice for travel. Krak Concierge boosts travel cashback to 4% via the card and 6% via the app, with up to 60% discount on hotel bookings.5
Best for cashback
Krak Card. With up to 2% cashback on eligible purchases and no monthly cap, it’s one of the most rewarding debit cards available in the UK.
Best for salary match
Krak. You can receive up to 1% match when you deposit your salary in Krak.
Best for everyday spending
Krak Card. HSBC doesn’t offer native cashback, so Krak Card is the clear winner for anyone who wants to earn on every purchase.
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Krak Card vs HSBC debit card

Which card is better for UK customers?

If instant cashback, zero fees, and travel rewards are your priorities, Krak Card delivers significantly more value for your spending.
International spenders
dot
Cashback
dot

Salary match

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Which card is better for UK customers?

If instant cashback, zero fees, and travel rewards are your priorities, Krak Card delivers significantly more value for your spending.
dot
International spenders
dot
Cashback
dot
Salary match
Reserve your card

FAQs

Yes. Krak Card offers up to 2% cashback on all eligible purchases, with no monthly cap. The minimum transaction amount is £0.50, and ATM withdrawals are excluded. Cashback is paid in GBP when the transaction settles.

Anyone who wants to earn cashback on everyday spending, avoid foreign transaction fees, or spend across multiple currencies. If you travel regularly, shop internationally, or simply want your purchases to earn up to 2% back, Krak Card offers clear advantages over HSBC’s standard debit card.

For everyday UK spending, both cards work well with no domestic transaction fees. For international use, Krak Card is the stronger choice — it charges zero FX fees and earns up to 2% cashback on every purchase home or abroad while HSBC’s standard debit card adds a 2.75% non-sterling fee and offers no rewards.

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Not investment advice. Crypto trading involves risk of loss. Krak Card is issued by Monavate Limited, authorised by the FCA to issue electronic money and payment services (FRN: 901097). Payward Services Limited is authorised by the FCA to carry on electronic money activities and payment services under the E-Money Regulations 2011 (FRN: 1010381). Cryptoasset exchange and custody services are offered by Payward Ltd, registered as a cryptoasset firm with the FCA (FRN: 928768). These services are unregulated and not covered by the Financial Services Compensation Scheme. Cryptoasset values can go down as well as up and gains may be subject to Capital Gains Tax. This content is for general information only and is not investment advice or a recommendation to buy, sell, stake or hold any cryptoasset.
1 Krak: Based on calculations from across currency pairs (25 March 2026). Rate varies depending on currencies and time.
2 Rate depends on average assets held with Krak, Kraken and Kraken Pro. apply. See for more info.
3 Eligible clients in the UK only. T&Cs apply. Min. cumulative transfer(s) of £2,500 (max 4 payments) from employer payroll; exclusions apply. Rewards credited monthly as determined by Krak; max £250/month. 1% promotional rate not guaranteed; applies until 01/05/26, then depends on average assets held with Krak, Kraken and Kraken Pro. Kraken may amend, suspend, or end the promotion. Tax may apply. E-money services are not protected under the Financial Services Compensation Scheme. Reward value may fluctuate if held or converted into other assets.
4 A variable spread applies when spending across assets. Third-party ATM fees may apply.
5 Geo restrictions apply. Krak Concierge processes bookings via Entravel Holdings Ltd. (“EH”). Krak is not a travel agent and the merchant of record for bookings. Prices, taxes and fees are set by the provider. Cancellations/refunds follow the hotel and/or EH policy. Instant buy/sell fees apply and are shown when converting one asset or currency before making a transfer. See our fee schedule for details. Krak may receive a commission from EH on completed stays.