Deel review

Deel charges 1% on currency conversion, which is the same as the 1% median across the brands on the site. In the prepaid card ranking the median is lower, at 0.4%, so frequent converters pay more here than many peers.

It is a prepaid card rather than a debit card, so spending draws on money loaded to the card rather than on a bank balance. People who need a card linked to a current account should compare a debit option instead.

The account is run by Deel Payments Europe NV, which is based in Belgium. It holds a payment institution licence, PSD_PI BE_NBB!0783476423, so the licence record shows which regulator supervises the account you are opening.

The card runs on visa, and Deel lists a virtual card as well, so online spending has its own option. The card also supports multi-currency, so balances can be held in more than one currency.

On currency conversion fees, Deel sits at position 128 out of 258 brands listed. Its 1% fee matches the 1% site median, but the prepaid card ranking median is 0.4%, so prepaid readers usually pay less.

Deel issues the card through Deel Payments Europe NV in Belgium, which holds the licence PSD_PI BE_NBB!0783476423. Retail loss percentages across the site run at a median of 70.15% and 74.5% at the upper end, so a prepaid balance should not be treated like a savings account.

It fits contractors and remote workers paid through the Deel platform who want their payout and their card in the same place, especially those earning in several currencies. Readers who want a debit card tied to a bank balance should look at Varo Believe Secured Credit Card, since it is a debit card.