Question 1

How much does the card cost?

Accepted Answer

The card is part of your SCHWARZMAN membership, which costs $19.99 per month and includes the virtual card, wallet, international card payments and full app access. There is no separate card price. A fee of 3% applies to each card payment, in any currency.

Question 2

Is there a physical card?

Accepted Answer

Not yet. At launch the SCHWARZMAN card is a virtual card that you use online and, where supported, via mobile wallets. A physical card will follow at a later date and will have its own fee structure, which we will publish before it becomes available.

Question 3

What does a card payment cost?

Accepted Answer

Each card payment carries a fee of 3% of the payment amount — regardless of the currency you pay in. The fee is shown in the app before you confirm.

Question 4

Is there a minimum commitment?

Accepted Answer

No. The membership is billed monthly and can be cancelled at any time. Cancellation takes effect at the end of the current billing period.

Question 5

How can I add funds to my account?

Accepted Answer

Transfer supported digital assets from your own wallet or exchange to your SCHWARZMAN deposit address. Funds are available to spend once the network has confirmed the transaction. The list of supported assets is shown in the app.

Question 6

Is there a fee when I deposit digital assets?

Accepted Answer

SCHWARZMAN does not charge a deposit fee. You only pay the standard network fee of the blockchain you are sending from.

Question 7

Do I need to manually convert my digital assets before using the card?

Accepted Answer

No. Conversion to USD happens automatically at the moment of payment, so you can pay with your card like with any other payment card.

Question 8

Where can I use my card?

Accepted Answer

Eligible customers can use their virtual card for international spending at supported merchants — online and, where supported, in stores via mobile wallet. Individual merchants, countries or merchant categories may be restricted by the card program.

Question 9

Which currency is used for card payments?

Accepted Answer

All card payments are settled in USD. Payments in other currencies are converted at the card-network exchange rate. The 3% card payment fee is the same in every currency.

Question 10

What is the SCHWARZMAN cashback?

Accepted Answer

On eligible card payments you receive 1% of the payment amount back as cashback. The cashback is paid out in SHOP Tokens, a digital asset.

Question 11

How much cashback do I get?

Accepted Answer

Pay $100 and receive cashback worth $1; pay $500 and receive cashback worth $5; pay $1,000 and receive cashback worth $10 — each paid as the equivalent value in SHOP Tokens at the rate used for the cashback calculation.

Question 12

What are SHOP Tokens?

Accepted Answer

SHOP Tokens are a digital asset. At SCHWARZMAN you receive them as a reward for eligible card payments. Their value can go up or down.

Question 13

Do I get 1% in SHOP Tokens or one SHOP Token per payment?

Accepted Answer

You receive 1% of your payment amount as the equivalent value in SHOP Tokens. The number of tokens depends on the SHOP rate used for the cashback calculation.

Question 14

Do I need to buy SHOP Tokens first?

Accepted Answer

No. You receive SHOP Tokens as cashback whenever you make an eligible payment with your SCHWARZMAN card.

Question 15

When do I receive my SHOP Token cashback?

Accepted Answer

Cashback is credited to your wallet once the transaction has fully settled, typically within a few business days.

Question 16

What can I do with my SHOP Tokens?

Accepted Answer

You have three options: keep them in your SCHWARZMAN wallet, send them to a SHOP-compatible wallet, or swap them to USDT in the app and have the amount credited to your card balance.

Question 17

What is a wallet?

Accepted Answer

A wallet is a digital purse for digital assets and tokens. It lets you receive and manage your SHOP Tokens.

Question 18

Can I send SHOP Tokens to any wallet?

Accepted Answer

No. The wallet must support SHOP Tokens on the correct network. Check both the network support and the recipient address carefully before sending — with a wrong address or network your tokens can be lost.

Question 19

Do I need my own external wallet?

Accepted Answer

No. You only need an external wallet if you want to send your SHOP Tokens out of the SCHWARZMAN app.

Question 20

Can I swap my SHOP Tokens to USDT?

Accepted Answer

Yes. You can submit your SHOP Tokens for a swap to USDT in the SCHWARZMAN app. The current rate is shown before you confirm, and the USDT amount is then credited to your card balance.

Question 21

What is USDT?

Accepted Answer

USDT is a digital asset designed to stay as close as possible to the value of one US dollar. One USDT is therefore worth roughly one US dollar, although the price can deviate.

Question 22

Can I spend my swapped cashback again?

Accepted Answer

Yes. As soon as the amount has been credited to your card balance, you can use it for further payments with your SCHWARZMAN card.

Question 23

Does my cashback always keep the same value?

Accepted Answer

No. At the time of the cashback calculation you receive SHOP Tokens worth 1% of your payment. After that their value can rise or fall, so the equivalent value at a later swap may be higher or lower.

Question 24

Are SHOP Tokens guaranteed to increase in value?

Accepted Answer

No. SHOP Token is a digital asset and its value can go up or down. Cashback is a reward for card usage and should not be considered an investment. The cashback programme and its terms may change.

Question 25

Do I need to know about digital assets or trading?

Accepted Answer

No. You don't need to trade anything. All that matters is what you want to do with your cashback: keep it, send it or swap it to USDT.

Question 26

How do holding rewards work?

Accepted Answer

Holding rewards are optional. Choose an amount and a holding period in the Earn section of the app. The flexible option has no holding period; longer holding periods of 3 or 12 months offer higher maximum rates. Rewards are credited to your wallet monthly. The current rates (always stated as 'up to') are displayed in the app before you confirm.

Question 27

How much can I earn with holding rewards?

Accepted Answer

Rates are always stated as maximum values ('up to') and are variable, depending on the holding period and asset you choose. Any figures on this website are illustrative only and not a promise of returns. Rewards are not guaranteed, may change at any time and assets set aside remain subject to market risk.

Question 28

Can I still spend funds I have set aside?

Accepted Answer

With the flexible option you can release the funds at any time; they are available to spend once processed. Funds in a fixed holding period become available again at the end of the selected period.

Question 29

What is the maximum amount I can spend per transaction?

Accepted Answer

Single transactions are limited to $10,000 for the standard verification level. Your individual limits are shown in the app and may differ.

Question 30

What is my monthly spending limit?

Accepted Answer

The standard monthly limit is $50,000. Higher limits may be available after additional verification, subject to the card program's approval.

Question 31

Is there a daily spending limit?

Accepted Answer

Yes, the default daily limit is $15,000 across all card payments. Your individual limits are shown in the app.

Question 32

How much can I deposit?

Accepted Answer

Deposits are subject to limits depending on your verification level. Larger deposits may require additional source-of-funds verification before they are credited.

Question 33

Where can I see all of my current limits?

Accepted Answer

All of your current limits are displayed in the Limits section of the SCHWARZMAN app.

Question 34

Do I need to complete KYC?

Accepted Answer

Yes. Customers complete a digital onboarding and verification process before the card can be activated. KYC requirements apply and approval is subject to eligibility and compliance review.

Question 35

Which countries are supported?

Accepted Answer

The service is available to eligible customers in supported jurisdictions. Eligibility depends on your jurisdiction and profile; the current list of supported countries is shown in the app during sign-up.

Question 36

Is approval guaranteed once I sign up?

Accepted Answer

No. Every application goes through eligibility and compliance review. Joining the waitlist or downloading the app does not guarantee approval.

Question 37

Who provides the card?

Accepted Answer

SCHWARZMAN is the brand and program partner. The card program is supported by regulated financial and technology partners and delivered through established payment infrastructure. SCHWARZMAN itself is not a bank, card issuer or custodian.

Question 38

Can I use the card while travelling?

Accepted Answer

Yes. The card is designed for international payments at supported merchants. The 3% card payment fee applies in every currency; payments in currencies other than USD are converted at the card-network exchange rate.

Question 39

What happens if a transaction is declined?

Accepted Answer

You receive a push notification with the reason — most often an exceeded limit, a restricted merchant category or insufficient balance. Your funds remain in your wallet.

Question 40

Can I freeze my card?

Accepted Answer

Yes. You can freeze and unfreeze your card at any time from the app. The card program may also restrict or freeze a card where required by law or its compliance rules.

Question 41

Is my money under my control?

Accepted Answer

Your digital assets stay in your SCHWARZMAN wallet until the moment you pay. Only the amount needed for a payment is converted. Digital assets are not covered by a deposit guarantee scheme.

Frequently asked questions

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