Plutus – review 2023 + referral bonus 10 USD/EUR

What is Plutus?

Plutus is a new payment card, decentralized crypto exchange and bank account all in one. The card is linked to the crypto token PLU, in which you receive cashbacks for your purchases. You can use the card to pay in stores and online. What is the advantage of this card over other cards?

The first advantage is that you get 3% cashback on all purchases made with this card. The other advantage is that you already get one benefit (Perks) with the free account. You can choose from the following offers:

In the case of Netflix, Spotify Premium, or Apple One, Plutus will refund up to €10 on your subscription. In the case of Spotify, for example, it’s a premium membership for two.

You can also get more Perks – up to a maximum of 8. There are two ways to get Perks. Either you choose the Everyday or Premium paid monthly plan

or you can steak (save) PLU tokens and get up to 8 Perks. Alternatively, a combination of both options is possible. The current price for 1 PLU token is about $10. With that said, the token price is expected to increase over time, so by holding the token you will earn even more on its value. Over the past year, the token price has increased by 42.8%, which is a nice appreciation of money. The price is expected to continue to rise as the card expands to more clients. You now have a unique opportunity to buy tokens quickly and still get Perks. Gradually, each quarter the eligibility for stacking PLU tokens to earn higher levels will increase. For example, starting July 1, 2023, instead of 250 PLU, you will need to tokenize 275 PLU to reach Hero level. You can buy tokens safely on Coinbase. It makes a lot of sense to me to make this investment because the token is backed by fundamentals – a useful tool that has practical uses compared to speculative tokens, where you usually get fleeced of your invested money after a big pump. If you’re as excited about Plutus as I am, join the Discord newsgroup and you’ll see for yourself that there’s always something newsworthy going on around the project and the creators are in direct contact with users. There are also new Perks (rewards) coming every month. Personally, I’m also steaking at Hero level and considering Veteran level until the difficulty increase comes.

Functions of Plutus

• mobile and web banking in EUR
• virtual and physical payment card with free delivery (from 25.6.2023 should support Apple Pay and Android Pay)
• 3% – 8% cashback on your card purchases at any store
• Perks (Netflix, Spotify Premium, Youtube Premium, free Apple One…)
• decentralized crypto exchange PlutusSwap (currently suspended due to software upgrade – expected to resume in Q4 2023)

How do I use my Plutus card?

Personally, I pay 4.99 Euros per month for the Everyday plan. This gives me two benefits (Perks). I use one for Spotify Premium and the other for the paid version of YouTube. For both services, Plutus will refund the full amount to my Plutus account in the form of PLU tokens. I also have Hero level, so I use the other 2 perks (Perks) + get 4% cashback on all my card purchases. I am currently considering the Veteran level, which will discount all my card purchases by 5% and I get 1 extra benefit (Perks).

How and why set up a Plutus card in Curve?

If you don’t know Curve, you can read my review of Curve. Just upgrade your Curve account to the Curve Black plan for €9.99 and enter your Plutus card number when ordering your subscription. It is by paying the subscription with the Plutus card that Plutus will know to refund you the €9.99. See the picture below. However, you can also use the free plan and it will work fine with your Plutus card.

And why use the Curve Black paid plan instead of Curve Standard (free plan)? With the Black plan, you get higher monthly limits for currency exchange from CZK to EUR, unlimited number of cards in the app, travel insurance and you can choose up to 3 stores where you will receive a Curve cashback of 1% of the amount paid to your account after paying with your Curve card. Personally, I chose Ikea, Tesco and Decathlon where I spend the most money. As a result, I get 1% cashback on my Curve account and 4% on my Plutus account when I shop at Tesco, for example. Which bank in the Czech Republic will give you 5% cashback? I will then use these cashbacks for other purchases. How do I do this? In the Curve app, you add your Plutus card and select it as the card to pay in EUR (this is an important step). Use your Curve Black card to make purchases in-store or online. Because Plutus works with Curve, it knows that you have made a purchase using Curve Black, but the payment has been charged to the Plutus card. Another reason to primarily use the Curve card is that you get the best EUR to CZK exchange rate. Because you have EUR loaded on your Plutus card and you pay for services or goods in CZK. Curve will therefore use the best interbank exchange rate. Additionally, with Spotify, I had a situation where when I ordered the Premium option, it didn’t want to accept the Plutus card directly, but everything went fine through Curve Black. In fact, Curve has been around for years and more or less all merchants support it.

How does the 3% to 8% cashback work?

I personally steak PLU, so I use 4% cashback on any Putus card payment. Just top up the card with EUR and pay in the Czech Republic using the CURVE card, which will convert EUR to CZK at a favourable exchange rate. If you are paying for example a subscription in EUR or in a shop abroad, you can pay directly with the card. You see the cashback in your account the next morning and within 45 days you can withdraw the cashback to your card or external wallet and use the money for your next payment. This means you can’t use the cashback immediately. It’s protection if you would have refunded the payment and withdrawn the cashback in the meantime. A summary of the transactions and cashback then looks like this:

How to send EUR to Plutus card easily and cheaply?

Ideally, you should use your Revolut account and send free EUR to Plutus. If you don’t know what Revolut is, check out my Revolut review. I top up free CZK on Revolut using a regular bank card. I exchange CZK to EUR at the interbank rate at Revolut and send free EUR to my Plutus account. Everything is done within a few minutes, so you don’t have to wait for anything. Alternatively, you can send money from your current account by SEPA payment, which is also free, but if you enter it in a Czech bank, for example in the evening, it will be made the next day. So we have EUR in the Plutus bank account. Now we need to move EUR to the card in the mobile app or on the Plutus website, which currently takes about 1-2 working days. Newly registered users will already get a card from the new provider Modulr and there is no longer a need to top up the card from the Plutus account, which is a significant improvement. Existing users will receive the new card from Modulr as early as July 25, 2023. I’m looking forward to it as well.

How can you get the card for free + referral bonus 10 USD/EUR?

It’s easy. Just apply for a card through my promo link and you will receive your virtual card immediately. Users will receive their physical cards from Modulr during July-August 2023. When you register, you will need an ID or other document, which you must scan by phone to the bank – called KYC verification, which is commonplace in today’s online world. To complete the registration, you need to top up the card with EUR 20. So it’s a good idea to have a Revolut account or other account already set up with EUR. You won’t lose the EUR 20, of course. You can use it for any Plutus card payment. Thanks to my promo link, you will get an extra 10 USD, or the equivalent in EUR, which Plutus will add to your Plutus account within a few days, and you will spend it when you pay with your Plutus card for goods or services.