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EQIBank Global Secured Credit Card review

It’s advertised as a borderless credit card for people and businesses, but it’s really a prepaid card with hefty fees.

EQIBank Global Secured Credit Card is a prepaid card for high-net-worth individuals and businesses that need to facilitate borderless transactions securely. It has no spending limit, comes with 24/7 customer support and you can use it in over 200 countries and territories. But there’s a $1,012.50 application fee and a $100 annual fee to keep the card active.

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Signature transaction fee


PIN transaction fee


Card typePrepaid
Card networkVisa
Annual fee$100
Signature transaction fee$0
PIN transaction fee$0

Review by

Cassidy Horton is a writer for Finder, specializing in banking and kids’ debit cards. She’s been featured on Legal Zoom, MSN, and Consolidated Credit and has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. When not writing, you can find her exploring the Pacific Northwest and watching endless reruns of The Office.

Expert review

EQIBank Global Secured Credit Card is best for high-net-worth individuals and businesses looking for a secure way to send payments and make purchases globally. It’s a USD card that’s compatible with most currencies. You can use it anywhere Visa is accepted, which is currently 200 countries and counting.

Aside from security, perhaps its biggest draw is that there’s no spending cap. Unlike other prepaid cards that limit you to a few thousand dollars per transaction, you can send any amount with your EQIBank Global Secured Credit Card up to your current balance. You can also get multiple cards for your employees or family members.

But the perks aren’t worth it because of the number of fees the card comes with. You’ll pay $1,000 to apply for the bank account and then another $12.50 for the card, which brings you to a total of $1,012.5, which is nonrefundable. The card also comes with a $100 annual fee, a 0.75% card load fee, a 4% for foreign transactions and $4 + 2.50% for all ATM withdrawals. Plus, you’ll need to make at least $150 in transactions a month or pay a $150 fee.

If you’re an elite individual or business that needs to move a high volume of money across countries, EQIBank Global Secured Credit Card may be the way to go. But if you’re an average Joe in need of an accessible borderless account, you may be better off looking into Wise.

How do I get the EQIBank Global Secured Credit Card?

You’ll first need to open an EQI Bank account. Once you’re approved, follow these nine steps to get your EQIBank Global Secured Credit Card.

  1. Go to the provider’s site and follow the steps to apply.
  2. Hover over the banking tab and select Card Services.
  3. Select Get Started. Then choose if you’re opening a business or personal account.
  4. Enter your basic personal information and select Next.
  5. Enter your account information and select Next.
  6. Upload any required documentation and select Next.
  7. Add any additional users to your account and select Next.
  8. Review the terms and conditions and select Next.
  9. Submit your payment.

You typically get approved within five business days. EQIBank will contact you via email once your account is open and ready to use.


Any business or individual can open an account when they meet these requirements.

  • Not a director or shareholder
  • $1,000 application fee

Required information

EQIBank will ask for this information when you apply.

  • Full name
  • Nationality
  • Country of birth
  • Passport number
  • Date of birth
  • Tax domicile
  • Other citizenships
  • Address
  • Phone number
  • Email address
  • Business information, if applicable

What you’ll like about EQIBank Global Secured Credit Card

You can use your EQIBank Global Secured Credit Card in over 200 countries and territories around the world. It’s also accepted at any retail store or ATM that accepts Visa. Plus, it comes with these features:

  • No spending limits. Unlike with most prepaid cards, you’re free to spend as much money as you’d like at any one time, up to your current card balance.
  • Offline processing. Your EQIBank Global Secured Credit Card is capable of processing both offline and online cross-border payments.
  • Request multiple cards. You can get multiple cards for one account, allowing you to share them with employees or family members.
  • 24/7 customer service. You can contact EQIBank customer support at any time and no matter where you are in the world, but you’re limited to email, submitting a form or sending a message through the app.

What to watch out for

Here are some potential drawbacks to look out for if you’re considering EQIBank Global Secured Credit Card.

  • EQI Bank account required. You’ll need to apply for an EQI Bank first before applying for the Global Secured card. You can only apply for the card once you’re approved.
  • High application fee. It costs $1,000 just to apply for the EQIBank account and $12.50 to apply for the card — and you won’t get a refund if your application is denied.
  • High opening deposit. You’ll need to deposit $15,000 into your account. We spoke to a representative who told us that you can do this over time as they’re “very flexible with their customers.” But when we asked how long that is, the rep said customers have up to two months to make the deposit after account opening.
  • Sneaky advertising. Based on its name, you’d think the EQIBank Global Secured Credit Card was a credit card, but it’s technically a prepaid card that you load funds onto.
  • Minimum transaction fee. If you don’t make at least $150 in transactions a month, you’ll pay a $150 fee.
  • Miscellaneous fees. Even those with a high net worth may feel the stings of EQIBank’s hefty fee schedule. Here are a few common fees you’ll need to look out for with the card.
Application fee (non-refundable)$1,000 for the account and $12.50 for the card
Annual fee$100
Point-of-sale purchase$0.25
Card load fee0.75% ($5 minimum)
Foreign transaction fee4%
ATM withdrawal fee$4 + 2.50%
Overdraft fee$25
Card replacement fee$25

Is the EQIBank Global Secured Credit Card safe?

The EQIBank Global Secured Credit Card has several built-in security features. You can lock and unlock your card at any time in the mobile app. It also has an EM chip and PIN to prevent fraudulent activity.

Compare EQI Bank with other prepaid cards

Want to see what else is out there? Use this table to compare the EQIBank Global Secured Credit Card to other prepaid cards.

Name Product Annual or monthly fee ATM withdrawal Features
Brinks Prepaid Mastercard
Brinks Prepaid Mastercard
$9.95 per month (or $5 with a $500+ direct deposit, or $0 with pay-as-you-go)
  • Mobile app
  • Direct deposit
  • Payback rewards
No credit check. No minimum balance. No late fees because this is not a credit card.
Netspend Prepaid Mastercard, WWE partner
Netspend Prepaid Mastercard, WWE partner
$9.95 per month (or $5 with a $500+ direct deposit, or $0 with pay-as-you-go)
  • No activation fee
  • Payback rewards
  • No minimum balance required
No credit check, mobile check load, and now a WWE partner
Control Prepaid Mastercard
Control Prepaid Mastercard
$7.95 per month (or $5 with a $500+ direct deposit)
  • Custom Card
  • Direct Deposit
  • Cash Back Rewards
No overdraft fees on card purchases. No credit check. No cost to order
Finder Rating: 4.8 / 5: ★★★★★
$3.99 per month
  • Low fee
  • Investing
  • Parent-paid interest
  • Donation options
The BusyKid Visa® Prepaid Spend Card gives your kids the freedom to spend anywhere Visa® is accepted, and parents see every transaction made.
Netspend All-Access Account by MetaBank
 Netspend All-Access Account by MetaBank
$5 per month
  • Earn cash back on everyday purchases
  • Earn up to 6% APY with an optional Savings Account
  • Receive your paycheck up to 2 days earlier with Direct Deposit
With Netspend All-Access Account by MetaBank there's no credit check and no minimum balance to open an account.

Compare up to 4 providers

How long will it take to get my card?

It takes about five business days for EQI Bank to approve your application once you apply. Once approved, you should receive your Visa card in the mail in as little as five days.

I got the EQIBank Global Secured Credit Card. Now what?

Once you have your card, make the most of it by using these two tips.

  • Fund your account. You can add anywhere from $200 to $50,000 or more to your card at any one time.
  • Avoid fees. The EQI Bank card has a long list of fees that aren’t common to other prepaid cards. Review the Fee Schedule so you can plan for how to minimize these charges.

Funding options

There are several ways to load money onto your EQIBank Global Secured Credit Card.

  • Transfer from a linked account
  • SWIFT transfer
  • ACH transfer
  • Incoming wire transfer

How can I contact EQI Bank?

Current customers can contact EQI Bank by:

  • Secure message. Reach out through the mobile app.
  • Live chat. Connect with customer service through the website’s live chat service.
  • Email. Send a message to

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