Swissquote Elite Debit Mastercard Review 2025: How good is the premium card?
With the new Elite Debit Mastercard, Swissquote promises a card full of prestige and privileges. We have already tested the card.
📖 Overview
Welcome offer 🚀 CHF 100 Trading Credit When you open an account with the Swissquote promotional code MKT_BECOMEWEALTHY , you will receive a trading credit of CHF 100. If you order the Elite Debit Card by 23 March 2025, you will also be entered into a prize draw to win USD 5,000 in Bitcoin and other prizes. Learn more |
☝️ At a glanceAdvantages
Disadvantages
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Swissquote Elite Debit Mastercard Review - the premium debit card at a glance
Swissquote has launched a new debit card, the Elite Debit Mastercard, and expanded its debit card offering. In addition to the free virtual card in the ‘Light’ banking package and the physical debit card in the "Bright ’ package, the Elite Card is aimed at customers with more sophisticated requirements.
The physical card is made of metal and makes a very high-quality impression. Weighing 17 grams, it is comfortable to hold - and adds a touch of exclusivity to everyday payments. There is also a virtual card that is compatible with Apple Pay, Google Pay and Samsung Pay. You can find out more about Swissquote's entire banking offering in our Swissquote review.
How do I get the Swissquote Elite Debit Mastercard?
Ordering the Elite Card requires
A Swissquote account
Residence in Switzerland
At least CHF 100,000 in assets in the Swissquote account at the time of application.
The card can be ordered via the Swissquote app or web platform. While the virtual card is available immediately, the physical card arrives by post within 3 to 4 working days. The card can also be managed quickly and easily there (change PIN code, block card, adjust limits, etc.).
What advantages does the Swissquote Elite Card offer?
The Elite Card is linked to your Swissquote account and is compatible with all payment methods: you can add the virtual card to your digital wallet (Apple Pay, Google Pay, Samsung Pay) or use the high-quality physical card. The Swissquote account - to which the Elite card is linked - also offers other functions such as eBill or Twint in addition to the usual payment processing.
1. Paying with cryptocurrencies
The Elite Card is particularly exciting for crypto-savvy customers who want to pay with their cryptocurrencies. Anyone who is invested in cryptocurrencies with Swissquote can activate cryptocurrencies as a means of payment for the debit card in the Swissquote app. For crypto payments, Swissquote only exchanges as many cryptos as necessary, the rest remains invested. The crypto exchange costs 1% - but you benefit from a 0.5% higher cashback for payments with cryptocurrencies, which partially offsets this fee. You can currently pay with Bitcoin, Ethereum and XRP.
2. Waiver of the currency exchange fee (up to CHF 5,000/month)
For card transactions up to CHF 5,000 per month in the most important currencies, the currency exchange fee of otherwise 0.95% is waived completely. A fee of 0.25% applies to card transactions over CHF 5,000. The thirteen major currencies include EUR, USD, GBP, JPY, AUD, CAD, SEK, HKD, NOK, DKK and AED. For all other currencies, the Mastercard reference rate plus a surcharge of 1.5% is applied.
3. Free cash withdrawals at ATMs
With the Elite debit card you can make 5 free cash withdrawals per month in Switzerland and abroad. With the standard debit card of the ‘Bright’ banking package, cash withdrawals abroad cost CHF 4.90 per withdrawal.
4. Cashback in gold & Trading Credits
With every card payment you receive cashback of 0.5% in gold and 0.5% as trading credit. The gold cashback is limited to a maximum equivalent value of CHF 25 per month of gold - this corresponds to a card turnover of CHF 5,000. There is no limit for trading credit.
Trading Credit (for normal card payments) | 0.5% |
|---|---|
Trading Credit (for crypto payments) | 1% |
Cashback in gold (for all card payments)️ | 0.5% (limit of CHF 25/month) |
You can use the trading credit to pay trading fees when trading on the Swissquote platform. For payments with cryptocurrencies, you will receive 1% trading credit in addition to 0.5% in gold. Please note, however, that there is a 1% fee for exchanging your cryptos.
5. Tax statement included
You receive a free e-tax statement (otherwise costs CHF 100 plus VAT). This saves you the hassle of typing in all the items when completing your tax return. With the e-tax statement, you can upload all items directly to the securities register of your tax return.
6 Swissquote Magazine, VIP events & Insider Bar
As an Elite Card holder, you receive a subscription to the Swissquote magazine (the 6 issues per year normally cost CHF 40). You will also be entered into the regular prize draw for VIP tickets to football and hockey matches and receive a 20% discount at the Swissquote Insider Bar in Zurich.
Swissquote Elite Card Insurance
In addition to the benefits offered by Swissquote, the Swissquote Elite Card also comes with a comprehensive insurance package for travelling. The insurance benefits are guaranteed by Europ Assistance. The following cover is provided if at least 50% of the trip, service (e.g. car hire) and the like were paid for with the Elite Card:
Travel insurance
Trip cancellation & delayed departure up to CHF 20,000
Trip interruption up to CHF 5,000
Medical assistance
Search and rescue costs up to CHF 50,000
Emergency transport with unlimited cover
Repatriation of the insured person with unlimited cover
Premature return of the companion with unlimited cover
Medical expenses abroad up to CHF 250,000
Luggage insurance
Damage to luggage up to CHF 5,000
Luggage delay up to CHF 1,000
Concierge service
As an Elite Card holder, you can use Europ Assistance's Concierge Service around the clock and at no extra charge. The Concierge Service can help you, for example, with booking a ticket, sending a bouquet of flowers or organising a helicopter flight.
You can find all the terms and conditions of the insurance policies and the concierge service directly at Europ Assistance.
How much does the Swissquote Elite Card cost?
The Elite Card costs CHF 39 per month, i.e. CHF 468 per year. This is a high amount compared to a free debit card. However, depending on your usage behaviour, it may still be worthwhile, for example for frequent travellers. You therefore need to weigh up whether the card is worthwhile for your personal use.
If you no longer need the Elite Card, you can cancel it at any time without notice. The fee for the current month will not be refunded. If you cancel the Elite Card within the first six months, a fee of CHF 78 will be charged to cover the production costs of the metal card.
Conclusion: For whom is the Swissquote Elite Card worthwhile?
The Swissquote Elite Debit Mastercard is aimed at active Swissquote users with a Swissquote account balance of at least CHF 100,000 and is particularly attractive for frequent travellers and traders who want to benefit from 0% currency exchange fees, free cash withdrawals and cashback in gold & Trading Credits. The card also offers exciting benefits for crypto-savvy users thanks to the crypto payment option and higher cashback.
Frequent travellers in particular benefit from the elimination of the currency exchange fee and the comprehensive insurance package. Anyone who regularly pays in foreign currencies or has high trading fees can make considerable savings with the card.
Swissquote users with high trading volumes benefit in particular, as the card can amortise quickly thanks to the trading credit and the foreign currency savings.
Welcome offer 🚀
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FAQ
Who can order the Swissquote Elite Debit Mastercard?
How much does the Swissquote Elite Debit Mastercard cost?
