Arab Bank review

Arab Bank lists conversion fees of 2% to 3%. That is well above Wise at 0.1% and above the platform median of 1%, so frequent conversions into another currency cost more here than with a multi currency account elsewhere.

It is a debit card, so spending draws on the balance held with Arab Bank PLC rather than a credit line. Nothing has to be repaid at the end of a billing period, and the card is not tied to a digital asset balance.

The card runs on visa, so it is accepted at merchants and cash machines that take visa. Acceptance abroad is straightforward; what varies between providers is the conversion fee, which is 2% to 3% on this card.

The issuer is Arab Bank PLC, the banking entity behind the card, and the group is headquartered in Jordan. The account is a bank account rather than a crypto account, so the balance held there is what the card spends.

Arab Bank charges 2% to 3%, while Wise charges 0.1%, Bitpanda charges 0% and Monzo Flex charges 0%. Readers who pay in a currency other than the account currency feel the difference most on a holiday or on a subscription billed overseas.

The card offered is debit, funded from a bank balance, so it does not hold or spend digital assets. Buyers who want a card connected to a digital asset balance should look at cards built for that, such as Bitpanda, where the conversion fee is 0%.

It fits readers who want a straightforward bank card for everyday spending and are comfortable holding an account with a bank based in Jordan. It suits less well those who convert currency often, since the conversion fee is 2% to 3% on each conversion.