1.Parties and definitions
Banco Plata, S.A. ("Banco Plata", "we") and the approved applicant ("Customer"). The Crypto Card is a payment instrument linked to the Customer's Crypto Account, allowing Mexican pesos (MXN) and cryptocurrencies (USDT and other supported assets) on a single card.
2.Issuance and activation
- Issuance is subject to credit approval and Customer identity verification (KYC).
- The Card is activated in the app upon first login after delivery.
- Banco Plata may issue physical and virtual versions with the same rights and obligations.
3.Card use and crypto top-ups
The Customer may top up the Card from any self-custodial or custodial crypto wallet: MetaMask, Trust Wallet, OKX Wallet, Bitget Wallet, Bybit Wallet, Binance Wallet, Coinbase Wallet, WalletConnect, Ledger, Trezor, Phantom, Tonkeeper, Exodus, Rainbow and any wallet compatible with the supported networks.
Top-ups are credited after on-chain confirmation (typically 1–10 minutes depending on the blockchain). The crypto → MXN conversion is executed at the provider's exchange rate at the time of the transaction.
4.Fees, rates and CAT
| Concept | Amount |
|---|---|
| Annual fee | $0 (no annual fee) |
| Crypto top-up | 1.5% of amount |
| Crypto → MXN conversion | 1.0% (spread included) |
| Fixed annual interest rate (revolving balance) | 15% |
| Average CAT | 164.2% excluding VAT (calculated on a representative revolving balance) |
The CAT is disclosed per Banxico/CONDUSEF regulations for comparability purposes; if the Customer pays the full balance before the cut-off date, no interest or financial cost is incurred beyond top-up and conversion fees.
5.Billing and payments
- Monthly cut-off on the Customer's assigned date; minimum payment of 5% of the balance.
- Paying in full before the cut-off avoids interest (up to 45 days grace).
- 2x cashback is credited in USDT to the Crypto Account within 5 business days after each purchase (see Cashback T&C).
6.AML compliance and source of funds (key)
Customer responsibility. The Customer declares they are solely responsible for AML compliance regarding the funds they top up, and that such funds come from lawful activities. Banco Plata, as a financial institution, may at any time:
- Temporarily freeze the balance or specific transactions;
- Launch an additional verification of the origin of funds (source of funds / source of wealth), requesting supporting documentation;
- Hold withdrawals or conversions until the review concludes;
- Report transactions to the competent authority when legally required.
Frozen funds remain the Customer's property and are released as soon as the review is satisfactorily resolved (usually within 3–15 business days).
7.Market risks
Cryptocurrency balances are exposed to volatility. The MXN equivalent of the crypto balance may vary. Digital assets are not protected by IPAB.
8.Termination
The Customer may cancel at any time at no cost by settling the outstanding balance. Banco Plata may terminate this agreement with 30 days' notice, or immediately upon breach, fraud or AML risk indicators.
9.Governing law
This agreement is governed by the laws of the United Mexican States. Any dispute shall be submitted to the competent authorities of Mexico.
← Back to home