Luis Clark
Luis Clark
Luis is a personal finance expert who has been passionate and writing about crypto for more than five years.
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    Club Swan Card South Africa Review 2023: Tiers, Pros & Cons

    club swan card south africa

    Club Swan Card South Africa Review: Our Opinion

    One of the major criticisms of cryptocurrencies is that they cannot be spent like traditional currencies in the world. This is still one of the major differences between crypto and traditional currencies. However, cryptocurrency debit cards such as Club Swan Cards make it simple to convert and spend crypto assets on everyday items and purchases.

    The multicurrency membership card was designed for crypto enthusiasts and frequent travelers. The Club Swan Card allows users in South Africa to make the most of their time, money, and experiences, with up to 22% cashback and services across its membership tiers.

    An Overview of Club Swan Card

    Club Swan is a premium lifestyle membership group that provides users with a digital payments platform and a global lifestyle concierge club built for cryptocurrency traders who want easy access to cryptocurrencies and traditional currencies.

    The company was founded in the United Kingdom in 2019 to provide customers with various monetary services worldwide. Club Swan members use the club’s services to manage their financial activities and reduce the costs associated with traditional fees and bank charges.

    However, Club Swan’s services are strictly membership-based. Unlike many cryptocurrency platforms, users have to pay to join Club Swan. The club’s lowest membership fee of $129 (ZAR 2,218.19)  to register, and an additional monthly subscription is starting from $35 to use any of the platform’s services, including the card.

    Pros

    Cons

    Club Swan Card Card: What Is It?

    club swan card south africa review

    Club Swan Card is a cryptocurrency prepaid debit card that allows users to access their crypto holdings and convert their assets to fiat currencies for merchant payments and other spending. This card was designed for crypto enthusiasts who want to maximize their time, money, and experiences.

    Like other crypto rewards cards, the card comes with benefits and perks, including cashback on spending, discounts on purchases, international transactions, and free international shipping.

    It is approved by FCA and also powered by MasterCard, which is accepted by merchants in over 100 countries, including South Africa.

    Club Swan Card: How Does it Work?

    Club Swan MasterCard is a multicurrency card that functions as a debit card. When cardholders use the Club Swan card to purchase products and services, the crypto is converted and the merchant is paid in fiat.

    Cardholders can also sell their crypto directly to the platform’s exchange for fiat money. The funds are sent directly into the user’s Club Swan account and can be manually used to top up the card.

    There are two variants of the card: a virtual card for online transactions and a metal prepaid card for ATM withdrawals and physical payments.

    Cashback is earned on every payment made with the card. Cardholders can save up to 40% on luxury holidays, flights, and hotel bills. They also enjoy up to 22% instant rewards for purchases made with the card.

    Benefits and Perks

    club swan card benefits

    Club Swan’s membership offers a range of benefits and perks, including hotel payments, luxury holidays, and flights. Among other benefits are:

    • Up to 22% rewards for card purchases
    • Direct crypto to fiat conversion for payments, and vice versa
    • Cash rewards
    • Free transfer of crypto and money to other Club Swan members
    • International payments with 6 different fiat options, including popular currencies like USD and GBP

    However, it is important to note that during our review, we discovered the platform has limited information on the card’s rewards system on the website.

    Cryptocurrencies Supported

    One of the major advantages of Club Swan Card is its multi-currency support. The Mastercard offers 150+ fiat currencies, including nine cryptocurrencies. These cryptos are:

    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Litecoin (LTC)
    • Bitcoin Cash (BCH)
    • Tether (USDT)
    • Basic Attention Token (BAT)
    • Paxos (PAX)
    • USD Coin (USDC)
    • EOS

    Fees Explained

    Getting access to a Club Swan crypto card requires a membership fee paid upfront and an additional monthly subscription fee. Buying and selling crypto with the card also attracts fees that investors should consider before choosing the card. Here is a summary of its fee structure:

    • One-time joining fee in the range of $129 to $2,495 (ZAR 2,218.19 to ZAR 42,902.24)
    • Monthly subscription ranging from $35 to $125  ( ZAR 601.85 to ZAR 2,149.41)
    • 0.5% to 3% buy and sell fee for crypto 
    • 0.5% to 3% bank transfer fee
    • 0.5% to 3% traditional currency exchange (or conversion) fee

    At the time of writing, the figures in South African Rand are based on the current exchange rate. The fee structure is tiered across four membership categories and the first month comes with a free subscription after paying the joining fee.

    Different Cardholder Tiers

    Club Swan offers its services across four different cardholder tiers. We highlight these membership categories and their features below.

    Starter Premier VIP Chairman
    Membership Fee $129 $499 $1,195 $2,495
    Multi-currency Account Yes Yes Yes Yes
    Account Limit $500,000 $1,000,000 $2,000,000 Unlimited
    Supported Fiat Accounts USD, EUR, GBP USD, EUR, GBP, CNY, JPY USD, EUR, GBP, CNY, JPY USD, EUR, GBP, CNY, JPY
    Card Type Club Swan Debit Card Club Swan Debit Card Limited Edition Aluminium Card Limited Edition Stainless Steel Card
    Card Load Limit $15,000 per day $15,000 per day $15,000 per day $15,000 per day
    Crypto Buy and Sell Fees 3% 2% 1% 0.5%
    Quick Wallet-to-Wallet Transfers Yes Yes Yes Yes
    Bank Transfer Fee 3% 2% 1% 0.5%
    Traditional Currency Exchange Fee 3% 2% 1% 0.5%
    Free Transfers to Other Club Swan Members No Yes Yes Yes
    24/7 Concierge Team Yes Yes Yes Yes
    Up to 40% Off Travel Yes Yes Yes Yes
    Cash Rewards Yes Yes Yes Higher Level Cash Rewards
    Dedicated Phone Suppport No No No No

    Opening an Account

    Getting a Club Swan Card requires registration as a member of Club Swan. Follow these easy steps to create a Club Swan account.

    Step 1: Register on the Website or Club Swan Mobile App

    Visit the Club Swan website or download the mobile app on the Google Play Store or iOS App Store and click the “Join Now” button on the home screen.

    Step 2: Enter the Required Personal Details

    Enter an email and proceed to fill out the required information on the next screen. These include country of residence, legal name, residential address, mobile number, and password.

    Check the “Membership” and “Terms and Conditions” boxes and click “Continue.”

    Step 3: Select Membership and Card Type

    tiers club swan card south africa
    Next, choose the most preferred membership plan among the available options: Starter, Premier, VIP, and Chairman. The selected membership tier also determines the card type.

    Step 4: Customize Card

    Customize the card design and select which fiat currency should be linked to it. Currency options include USD, GDP, and EUR.

    Step 5: Make Payment

    The final step is to pay for the selected Club Swan Card in line with the chosen membership class. Choose a payment method between card and crypto, enter the payment information, and complete the transaction.

    Club Swan cards are shipped for free by DHL Express Global shipping, and they are usually delivered within 7 days.

    Club Swan Card App

    The Club Swan Lifestyle and Finance mobile app is available on Android and iOS devices and was carefully designed.

    The mobile app is intuitive and offers a pin code and biometric log-in option for additional security. It also has all features laid out in a simple, colourful way that makes navigation easy.

    However, the mandatory subscription before assessing the application’s features is a limitation, as this prevents potential users from testing the app’s capabilities and overall features.

    Customer Satisfaction

    Club Swan has a dedicated 24/7 customer support team, called the Concierge Team, catering to its clients. A standout feature of its support is the multilingual options available for users across the world. Regardless of their locations, customers have access to support in popular languages like English, French, Japanese, German, Italian, Korean, etc.  However, Club Swan’s 2.7-star rating from a possible 5 on TrustPilot suggests that there is a lot more the company can do better. The common pain points for existing customers are late deposits into accounts after sending funds, which take up to 3 days, and cards not working as promised.

    Is Club Swan Card Right For You?

    South African crypto enthusiasts looking for a cryptocurrency debit card may consider any of the available Club Swan cards for discounts and other rewards, including cashback.

    However, one major determiner of whether the debit card is the right option depends on the investors and their spending. The card comes at a relatively high cost that must be paid upfront, and users have to pay a monthly subscription. In other words, the card’s suitable for high-volume traders and investors who want high transaction limits and withdrawals.

    Final Thoughts

    The Club Swan Card is available for global crypto enthusiasts looking to maximize time and earning while travelling. The card is, however, targeted towards investors with a lot of expendable income, as its concierge services are highly-priced.

    Investors looking for other crypto cards for local and international payments with more benefits and perks may consider popular and relatively affordable options like the Binance or Crypto.com card.

    Our extensive analysis of the South African Crypto Cards doesn’t stop here. You can also read about our Cryptopay Card South Africa as an alternative to Club Swan or you can check out our list of best crypto cards in South Africa.

    FAQ

    Most frequent questions and answers

    Club Swan supports 9 cryptocurrency options customers can buy, sell, store, or spend from their mobile wallets. The available cryptocurrencies are Bitcoin Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), etc.

    Club Swan provides custodial services to its customers, who can store their crypto assets in the platform’s crypto wallet.

    Club Swan Card is one of the most popular crypto debit cards for payments in South Africa. Other options include CryptoPay, Paycent, and Uquid. 

    We always try to provide the most accurate information available, and make sure our team follow through.
    If you want to know more about our Crypto Exchanges Review Methodology follow the link below

    Skrumble.com provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual’s needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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