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Ferratum review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Ferratum pairs a credit card with a savings account included at no cost, which suits people who want spending and spare cash handled by the same provider. The trade-off is the annual fee of €144, against free annual fees at bunq and Wise.

Key facts

Best for
A card and savings account together with no monthly fee.
Annual fee
€144↗
APR
17.5%↗
Currency conversion fee
1.75%↗
Rewards type
None↗
Credit needed
Good↗
Card kind
Credit↗
Legal entity
Ferratum by Multitude AG↗
Headquarters
Switzerland↗
Founded
2005↗
Support channels
Help-centre↗
Pricing model
No monthly fee
Official website
global.ferratum.com

Savings

Deposit protection
EU DGS up to EUR 100,000↗
Access terms
Savings account (Sparkonto) included at no cost with the Ferratum Mastercard↗
Monthly fee
€0↗
Account kind
Easy access↗

Facts checked September 26, 2026, 4 sources

Apps and profiles

Get the app
Google Play
Elsewhere
LinkedInXTrustpilot

Pros and cons

Pros

  • A savings account is included at no cost with the Mastercard, so you can hold spare cash and pay with the same provider.
  • The monthly fee is €0 on a no monthly fee model, so the only regular charge is the annual fee.
  • Deposit protection is EU DGS up to EUR 100,000 on the savings side.

Cons

  • The annual fee of €144 is high for a card, putting Ferratum at 310 of 312 on annual fee.
  • Support runs on help centre only, so there is no phone or live chat help listed.
  • The rewards type is none, so everyday spending earns nothing back.

Ready to try Ferratum?

Scored 8.6 / 10 by SumCue.

See alternatives

Who it suits

  • Borrowers with good credit who want a card and a savings account together.
  • People who want easy access savings they can reach at any time rather than a fixed term product.
  • Card holders who pay in a single currency and can live with 1.75% on any conversion.

Who should look elsewhere

  • bunq, if you would rather pay an annual fee of €0.
  • Varo Believe Secured Credit Card, if you want a secured card with an annual fee of $0 rather than paying 17.5% to borrow.
  • Wise, if you want a card for holding and converting money at an annual fee of £0.

Who runs it

Ferratum is Ferratum by Multitude AG, headquartered in Switzerland. The group dates back to 2005, so the card sits inside a business with a long lending record. Support is limited to help centre, which suits card holders who are comfortable sorting most questions themselves.

How Ferratum compares

Where Ferratum is available

Available
Denmark, Finland, Germany, Latvia, Norway, Sweden, United Kingdom

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does the Ferratum card cost to keep?+

The annual fee is €144. There is a monthly fee of €0 on a no monthly fee model, so the running cost is the annual charge rather than a repeating monthly one. Borrowing is priced separately at an APR of 17.5%.

What comes with the card?+

A savings account, called a Sparkonto, is included at no cost with the Mastercard. The monthly fee is €0 and the account runs on a no monthly fee model, so the savings side adds nothing to what you pay for the card.

Is my money safe with Ferratum?+

The savings side sits under a European deposit scheme: deposit protection is EU DGS up to EUR 100,000. That covers eligible deposits up to the stated limit. The card is a credit card, so any balance you carry on it is borrowed money rather than your own deposit.

What rate do I pay to borrow?+

The APR is 17.5%. Ferratum expects good credit, so the card is aimed at borrowers with a solid credit file. As a credit card, the rate applies to any balance you run on it, so clearing the balance each month keeps the borrowing cost at nothing.

Does the card earn anything?+

The rewards type is none, so there is no cashback, points scheme or mileage on everyday spending. The card competes on the bundled savings account rather than on spending perks, and 29.7% of the cards here carry no rewards either.

How do I get help if something goes wrong?+

Support runs on help centre only. There is no phone line or live chat listed, so most questions are handled through self service material. If you would rather speak to someone, a provider with wider support channels may suit you better.

What happens if I spend in another currency?+

The currency conversion fee is 1.75%, which sits above the 1% median across cards on the site. Spending and repaying in a single currency avoids the charge, so the card suits everyday use at home rather than frequent travel spending.

Can I reach my savings whenever I want?+

The account kind is easy access, so your savings are set up for easy access rather than a fixed term. There is no notice period to serve before you take money out, and no lock-in to a term while you hold the balance.

Sources

  • ferratum.de checked September 26, 2026

    Backs: Access terms, Account kind, Pricing model, Monthly fee

  • ferratum.se checked September 26, 2026

    Backs: Deposit protection

  • ferratumbank.fi/en/credit-card checked September 26, 2026

    Backs: Annual fee, APR, Card kind, Credit needed, Currency conversion fee, Rewards type, Support channels

    “€12 monthly account maintenance charge”

  • global.ferratum.com/about-us checked September 26, 2026

    Backs: Founded, Headquarters, Legal entity

    “Established in 2005 in Finland”

Compiled from 4 source pages, checked September 26, 2026. We did not open an account.

Ferratum

A card and savings account together with no monthly fee.

8.6/10See alternatives