Updated September 28, 2026 · SumCue Editorial Team
Nexo vs Upgrade
Nexo
Upgrade
Higher score in this comparison
Where Nexo and Upgrade differ
| Compare | NexoReviewVisitVisit | UpgradeReviewVisitVisit |
|---|---|---|
| Monthly fee | €0 | $0 |
| Currency conversion fee | 0.2% to 2.5%Lower | 3% |
| Free ATM withdrawals | €200 to €2,000 | $0 |
| Cashback rate | 0.1% to 2% | 2% |
| Card network | Mastercard | Visa |
| Currencies | 100 | Not confirmed |
| Custody | Custodial | Not confirmed |
Same on both: Card type (Debit).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.
Key differences
- Upgrade scores higher overall: 9.2 vs 8.9.
- Nexo is licensed in 5 more countries.
- Nexo is available in 35 more countries.
- Currency conversion fee is lower at Nexo: 0.2% to 2.5% vs 3%.
- Support channels: only Nexo offers Chat.
- Support channels: only Upgrade offers Phone.
- Features: only Nexo offers Multi currency, Crypto, Virtual card.
- Features: only Upgrade offers Same day funding, Credit line.
Our verdict on each
Nexo
Nexo suits businesses and crypto users who want a multi-currency card, with monthly and annual card fees of €0 and €0. The trade-off is tier-based cashback, foreign exchange costs, and custodial holding of supported crypto.
Upgrade
Upgrade suits US borrowers who want a direct lender with fixed rate personal loans, a credit line and quick access to money, and the fee is taken from the proceeds before you see it. It scores 6.4 on offer, and the arrangement fee runs 1.85% to 9.99% on top of the rate.
Score breakdown
| Area | Nexo | Upgrade |
|---|---|---|
| Cost | 9.2HigherMonthly and annual card fees are €0 and €0, while foreign exchange costs are 0.2% to 2.5%. | 9.0 |
| Offer | 9.2The card supports crypto cashback, multi-currency use, virtual cards, travel, Apple Pay and Google Pay. | 9.4HigherDirect lender with loans of $1,000 to $50,000 over 24 to 84 at 7.74% to 35.99%, plus same day funding and a credit line. |
| Trust | 8.3 | 9.4Higher |
Licences and countries
| Country | Nexo | Upgrade |
|---|---|---|
| United States | ||
| Argentina | Not confirmed | |
| Australia | AUSTRAC (Australia) DCE100843695-001 | Not confirmed |
| Hong Kong | Companies Registry (Hong Kong) TC007556 | Not confirmed |
| Poland | Ministry of Finance (Poland) RDWW-533 | Not confirmed |
| Seychelles | Not confirmed |
Available in 1 country for both. Additional countries for Nexo: 35.
Where they rank in our lists
| Ranking | Nexo | Upgrade |
|---|---|---|
| Credit and debit cards | 10 of 1594 | 26 of 1594 |
| Credit cards | 2 of 421 | 9 of 421 |
| Debit cards | 8 of 826 | 19 of 826 |
If neither fits
COCA Card has currency conversion fee at 0%, against 0.2% to 2.5% for Nexo and 3% for Upgrade.
COCA Card reviewWhat we checked
Nexo
- nexo.com: 13 facts, checked September 26, 2026
Upgrade
- upgrade.com: 10 facts, checked September 26, 2026
Every fact side by side
| Fact | Nexo | Upgrade |
|---|---|---|
| Features | Multi currency, Crypto, Virtual card, Custodial, Travel | Same day funding, Credit line |
| Audience | Business | Not confirmed |
| Legal entity | DiPocket UAB | Upgrade, Inc. |
| Headquarters | Not confirmed | United States |
| Founded | 2018 | Not confirmed |
| Support channels | Chat, Email, Help centre | Email, Phone, Help centre |
Credit cards
| Fact | Nexo | Upgrade |
|---|---|---|
| Annual fee | €0 | $0 |
| APR | from 1.9%Lower | 7.74% to 35.99% |
| Rewards type | Cashback | Cashback |
| Pricing model | No annual fee | Fixed rate |
| Rewards rate | Up to 2% crypto cashback in NEXO Tokens, or 0.5% in BTC at Platinum tier, on purchases in Credit Mode | 3% cash back on gas, groceries, streaming and monthly subscriptions, and utilities; 1% on everything else, uncapped |
| Perks | Free ATM withdrawals up to EUR 2,000 / GBP 1,800 per month at Platinum tier, then 2% fee (min EUR/GBP 1.99), Apple Pay and Google Pay supported, Interest earned on unspent funds (Nexo Loyalty Program, up to 13% per year), Accepted at over 100 million merchants globally, Virtual card activated instantly with 50 USD balance; free shipping for physical card above 5,000 USD balance at Gold tier or higher, No monthly, annual or inactivity card fees | Visa Zero Liability protection, Travel and Emergency Assistance Services, Roadside Dispatch, Upgrade Shopping offers, Rewards do not expire, 24/7 fraud monitoring and real time alerts, Flexible payment options Pay Now, Pay in 4, Pay Over Time (coming soon) |
| Cashback rate | 0.5% to 2% | Not confirmed |
| Card kind | Credit | Credit |
Crypto wallets
| Fact | Nexo | Upgrade |
|---|---|---|
| Wallet type | Mobile | Not confirmed |
| Coins supported | 100 | Not confirmed |
Where each stands against the rest
| Fact | Nexo | Upgrade | Median |
|---|---|---|---|
| Currency conversion fee | 0.2% to 2.5%below the median | 3%highest quarter | 1 |
| Cashback rate | 0.1% to 2%at the median | 2%at the median | 2 |
| Currencies | 100highest quarter | Not confirmed | 8 |
Median across 336 listed providers.
Pros and cons
Nexo
Pros
- No monthly or annual card fees: €0 and €0.
- Crypto cashback is available in NEXO Tokens or BTC at Platinum tier in Credit Mode.
- Multi-currency use, virtual cards, travel, Apple Pay and Google Pay are supported.
Cons
- Foreign exchange costs are 0.2% to 2.5%, which may add to overseas spending.
- Supported crypto is held in custodial custody under custodial.
- Cashback and ATM terms depend on card tiers, so lower tiers receive less favourable benefits.
Upgrade
Pros
- Fixed rate personal loans with an APR of 7.74% to 35.99%
- Free early repayment lets you settle the balance early without a charge
- Soft prequalification, so a soft prequal credit check comes before a hard search
Cons
- The arrangement fee of 1.85% to 9.99% is deducted from loan proceeds, so the amount received is lower than the amount borrowed
- The top of the APR range is far above the site median of 15.5%
- The smallest loan is $1,000 to $50,000, which rules out small emergency amounts
Who each suits
Nexo
Who it suits
- Businesses seeking a multi-currency card with no monthly or annual card fees.
- Crypto users comfortable with crypto cashback and custodial custody.
- Travellers who want Mastercard, virtual-card, Apple Pay and Google Pay support.
Who should look elsewhere
- bunq may suit readers whose stated foreign exchange fee range is 0.5% to 3%.
- Varo Believe Secured Credit Card may suit readers focused on a card with a stated monthly fee of $0.
- Wise may suit readers looking for a different everyday money platform, with a stated monthly fee of £0.
Upgrade
Who it suits
- US residents who want one lender for a loan and a credit line
- Borrowers consolidating debt or funding home improvement who value a fixed rate
- Adults who prefer a soft prequal credit check before committing
Who should look elsewhere
- Borrowers who would rather pay fees up front, since the arrangement fee of 1.85% to 9.99% comes out of the amount borrowed
- Anyone outside the US, as eligibility is tied to US residency and citizenship status
- Borrowers who need a very large sum, since the maximum is $1,000 to $50,000
Country by country
| Country | Nexo | Upgrade |
|---|---|---|
| Argentina | Yes | No |
| Australia | Yes | No |
| Austria | Yes | No |
| Belgium | Yes | No |
| Bulgaria | Yes | No |
| Croatia | Yes | No |
| Cyprus | Yes | No |
| Czechia | Yes | No |
8 of 36 countries where either is available.
Questions about each
Nexo
What are the Nexo card fees?+
Nexo lists a monthly card fee of €0 and an annual card fee of €0. Its published perks also state that there are no monthly, annual or inactivity card fees.
What is the currency conversion fee?+
Foreign exchange fees are 0.2% to 2.5%. The exact amount can therefore vary, so overseas purchases and ATM withdrawals may cost more than transactions made in the card's base currency.
Upgrade
What rate will I pay on an Upgrade personal loan?+
Upgrade offers fixed rate loans with an APR of 7.74% to 35.99% and terms of 24 to 84. Loans cover personal, debt consolidation, secured and car borrowing, and the model is fixed rate rather than variable, so repayments stay the same each month.
How much does an Upgrade loan cost in fees?+
An arrangement fee of 1.85% to 9.99% applies, and it is deducted from your loan proceeds rather than billed separately. That means the amount you receive is lower than the amount you borrow, so the fee and the interest rate stack up.
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