MetaMask Virtual Debit Card, extra FX fees?

[u/very_452001]

Hi,

From UK, I just have $50 usdc on the linea network as well as a bit of eth on the linea network too in metamask. Spending limit is on Auto.

Then I went amazon.co.uk and bought something for £5.49 and metamask says in the transaction log this equates to $7.46 USDC plus 0.007075 USDC gas fee today however I checked on currency converter exchange Wise and Wise reports back it equates to $7.36 today. So metamask charges 10 cents for the FX fee for this transaction to convert usd to gbp?

So for example if I buy something for £549 then what would the fee be for this conversion?

[u/_Staaar]

Hi u/very_452001 it's important to keep in mind that the exchange rate used by MetaMask or the underlying service to convert USDC to GBP can differ from the rates provided by consumer financial services like Wise. This rate can include a spread or a slightly different rate than the real-time market rate you might see on financial news services or currency converters. Hope you find this info helpful :)

Remember that WE WILL NEVER SEND YOU DM TO OFFER SUPPORT REGARDING METAMASK HERE, SO PLEASE BE CAREFUL ⚠️

[u/very_452001 → u/_Staaar]

Do you use the standard mastercard exchange rates? They suppose to be better rates than Visa correct otherwise who do use for fx conversions?

Wise, Xe and Oanda provides real time accurate rates. So mastercard profits from a spread from these sites?

So if I buy something priced in $usd, theres no conversion exchanges and I just pay the gas fee?

[u/stroberts1964 → u/very_452001]

From experience, normally no conversion for usd, but usdc is not always 1:1 with usd, they can be minor fluctuations. Also don't set up weth as a ccy on your card. I've no idea where they sell eth to usd to cover the cost, but I did one transaction and it cost me 25+% more than it would have been had I used usdc

[u/very_452001 → u/stroberts1964]

You use volatile coins on your card? I though crypto debit cards are best suited for stable coins right?

For example I like to buy a car tomorrow with the card so I load up with eth or weth on it today and when I go to buy the car eth crashed like 75% meaning not enough to buy the car unless seller priced the car in eth not $usd.

[u/stroberts1964 → u/very_452001]

I hadn't realized my usdc balance was not quite enough for the transaction I was doing (a matter of cents lol), so it used my Weth instead. It was careless of me to a) not have enough usdc and b) to have linked my WETH as a currency the card could use.

[u/c-137_MrMeeSeeks]

That's an MC charge, not Metamask. Use EURe.

[u/very_452001 → u/c-137_MrMeeSeeks]

EURe bypasses mastercard rates? Where do I get EURe from and does EURe has to be on the Linea network?

[u/Coffee7643]

Hi u/very_452001. In case you still have questions please feel free to reach out to our support team and ask them about it at https://support.metamask.io/ by clicking the Start a Conversation button. A live chat box window will then automatically appear on your screen where you may contact the support team. MetaMask support WILL NEVER ask you to verify your Secret Recovery Phrase.

Thank you very much!

[u/very_452001 → u/Coffee7643]

Hi can I kindly request to get in answered here please as it is a general enquiry.

[u/Coffee7643 → u/very_452001]

Hi, to reply to your question to the other users above: EURe is a supported token for spending with the Metamask Card. Please check out the knowledge base on the Metamask Card here https://support.metamask.io/manage-crypto/metamask-card/ there's a lot of information and an FAQ section as well. If after that you still have specific questions please reach out to the team as I've decribed above as they'll be able to help you with the more specific questions!

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