Overview
iCard, at a glance.
iCard is an e-money institution headquartered in Bulgaria, regulated by Bulgarian National Bank. Business accounts cost €2.99 a month. Opening an account takes 3–5 days.
iCard issues e-money, which is not a bank deposit and is not covered by a deposit compensation scheme.
Why businesses pick iCard
- €2.99 a month and free to open
- SEPA payments cost €1 and SEPA Instant €2; incoming transfers are free
- First Mastercard business card is free
- Support by phone around the clock, plus chat, email and WhatsApp
Watch out for
- Only for companies and sole traders registered in the EEA or Switzerland
- USD can be held but not sent or received by bank transfer
- The currency exchange margin is not published
- Crypto, financial services, precious metals and pharmaceutical businesses are not accepted
- Replacing a lost or damaged card costs €27.50
- No deposit insurance
Business fit
Will iCard accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on iCard's published rules
Likely no
iCard does not list United Kingdom among the countries where it accepts companies.
iCard does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What iCard publishes about the businesses it takes on.
Who iCard serves
- Freelancers
- Startups and SMEs
Not supported
Industries and countries iCard does not accept, from its own published lists.
Industries
- Gaming merchants with a complex corporate structure, where the licence is granted to a non-EEA company different from the one proposed for acquiring
- Merchants selling branded clothes, jewellery, watches or other goods without a proper letter of authorisation and supplier invoices
- Any illegal products or services, or peripheral support of illegal activity
- Merchants engaged in activity prohibited by the card schemes
- Banking or financial services, including payment intermediaries, money service businesses and money transfer agents, wire transfer money orders, prepaid cards, cheques, cash disbursements, binary options and CFDs
- Non-regulated charities and certain non-profit organisations
- Companies with bearer shares
- Manufacture, supply or sale of firearms, firearm parts, ammunition, weapons or explosives
- Credit protection and identity theft protection services
- Collection agencies, refinancing of debt, factoring, mortgage brokers and reduction services
- Sales of options and binary options
- Certain cosmetic surgery, male or female enhancers and products to boost physical performance
- Rebate and cashback-based businesses
- Virtual currency or any other non-fiat currency: mining, storing, exchange, transfer or related services
- Trading and wholesale of precious metals and stones
- Non-regulated pawn shops
- Pyramid or Ponzi schemes, matrix programmes, get-rich-quick schemes and certain multi-level marketing programmes
- Certain crowdfunding activities
- Illegal drugs and drug paraphernalia
- Pharmaceutical products
- High-risk negative option billing: recurring subscriptions for physical products such as cosmetics, health-care products and vitamins
Countries
- Not published
Coverage
Where can you use iCard?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
6 currencies
Hold and receive · 6 currencies
- EUR
- USD
- GBP
- CHF
- CZK
- RON
Pay out · 7 currencies
- EUR
- GBP
- CHF
- BGN
- CZK
- PLN
- RON
USD is for online payments only and cannot be sent or received by bank transfer.
Payment reach
Not published
Who can apply
Company incorporation countries31 countries · show list
- Austria
- Belgium
- Bulgaria
- Croatia
- Cyprus
- Czechia
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Iceland
- Ireland
- Italy
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Malta
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
Owner nationality
Not publishedOwner residency
Not publishedCompany types
Companies, Freelancers and sole traders, Organisations, Foundations
Pricing
What does iCard cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Free
Monthly fee
€2.99
iCard for Business
€2.99 per month
€0 setup · €35.88 in year one
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Incoming | ||
| SEPA | Free | No charge |
| Outgoing | ||
| SEPA | €1 | Fixed fee |
| SEPA Instant | €2 | Fixed fee |
| SWIFT / international | 0.2%, min €5 | Percentage, with a minimum charge · With shared charges; paying all charges yourself adds €45 to €110 by amount |
Other fees
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Physical card issue | Free | No charge · First card; each additional card €4, and a replacement €27.50 |
| Monthly card fee | Free | No charge · First card; €0.50 a month for each additional card |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Company details
Choose your company's country and legal form, then enter the company, its directors and owners.
- 2
Confirm contact details
Confirm your phone number and email.
- 3
Identity check
Directors, owners and account users verify their identity.
- 4
Review
iCard reviews the application within one business day and may ask for more documents.
Documents you need
- Identity documents for directors, owners/controllers and account users
- Company registration and business information
- Additional KYC/compliance documents if requested
FAQ
Your questions, answered.
Is iCard a bank?
No. iCard AD is an e-money institution licensed by the Bulgarian National Bank, licence 4703-5081/25.07.2011. Money in the account is e-money, not a bank deposit, and is not covered by a deposit compensation scheme.
How much does an iCard business account cost?
Opening is free and the account costs €2.99 a month. Incoming transfers are free, a SEPA payment costs €1, a SEPA Instant payment €2, and an international payment 0.2% with a minimum of €5.
How long does it take to open an iCard business account?
Opening an account typically takes three to five business days. iCard reviews applications within one business day.
Which countries can open an iCard business account?
Companies and sole traders registered in the European Economic Area or Switzerland: 31 countries in all.
Does iCard offer cards?
Yes. The first Mastercard business debit card is free. Each additional or employee card costs €4 to issue and €0.50 a month.
Which businesses does iCard not accept?
Its prohibited list includes virtual currency businesses, banking and financial services, precious metals trading, firearms, pharmaceutical products, non-regulated charities, companies with bearer shares and certain crowdfunding.
Which currencies does iCard support?
You can hold EUR, GBP, CHF, USD, RON and CZK, and send bank transfers in EUR, GBP, CHF, RON, CZK, PLN and BGN. USD cannot be sent or received by bank transfer.
Alternatives
How iCard compares.
If iCard is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 iCardThis pageE-money institution |  | Low feesFreelancers |
 Wise BusinessE-money institution |   | Low FX costsStandard businesses |
 Revolut BusinessBank |  | Cards and spend controlsStartups and SMEs |
 PayswixE-money institution | | Named IBANSEPA and SWIFT |
 GenomeE-money institution | | Published pricesVisa cards |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.