Neobankless Card

What the Neobankless Card is

Neobankless - also branded NBS - is a Brazilian global account built around three claims: zero IOF, real self-custody, and cashback paid in assets rather than points. The card is a Visa Infinite, advertised as accepted in 200+ countries, usable in the same way as any global credit card, with international instalment plans of up to 12 months and no IOF on the card.

The account behind it is funded by PIX in reais and settles into USDC in seconds, at an all-in cost of 0.5%. Neobankless is unusually direct about the comparison it is making: 3.5% IOF, up to 4.5% spread and Swift fees on a conventional international transfer, versus a single 0.5% conversion. On the site's own worked example, sending R$10,000 abroad costs R$50 with NBS against R$920 through a bank.

The cashback is the genuinely unusual part

Every purchase returns fractions of tokenised US stocks - xStocks including AAPLx, SPYx and NVDAx - settled on-chain directly into your own custody. Neobankless publishes a list of 61 tokenised S&P 500 assets and states that 100% of cashback is paid in assets, not points, with no expiry dates. Referral revenue is paid the same way: part of your network's revenue, in stocks.

That is a real differentiator, and also a real risk. Cashback in tokenised equities means the value of your reward moves with the market - you are being paid in a volatile asset rather than a fixed credit.

Custody, cost and yield

The account is self-custody: Neobankless states that only you control the money, with no bank in the path and no blocking risk. Funds settle as USDC, balances pay yield quoted at 11.93% a year - above US fixed income - and the app includes a decentralised broker for the tokenised S&P 500 assets alongside the card. The trade-off of self-custody is that there is no institution to recover your funds if you lose access.

On cost, the conversion is 0.5% all-in with zero IOF, and the card carries a published $50 a year annual fee, charged only after approval, with Founders Club access included.

What is not disclosed

The issuing bank is not named - Neobankless's terms state that the Visa Infinite programme is offered and administered by third parties - and the full card fee schedule, spending limits and ATM terms are not published. The company is also very new: the iOS app launched in November 2025 and carries only a handful of ratings, so there is little independent track record to lean on.

Who it suits

For a Brazilian freelancer, traveller or digital nomad who is already comfortable with self-custody and wants to stop paying IOF, the 0.5% conversion and dollar yield are compelling, and cashback in tokenised stocks is more interesting than points. The caveats are the unverified issuer and the short track record. For a more established card in the region, compare the Busha Card, or browse the crypto cards directory.

Account asset

The account settles in USDC, the dollar-backed stablecoin. Reais come in over PIX, convert within seconds, and the balance is held in USDC earning dollar yield rather than sitting as reais. Neobankless describes the settlement protocol as PIX in, USDC out, at a 0.5% all-in cost.

The tokenised stock layer

Beyond the stablecoin balance, Neobankless operates a decentralised broker for xStocks - tokenised US equities mapped 1:1 to the underlying shares. The list runs to 61 S&P 500 names, spanning technology, healthcare, energy, index trackers and gold, and it is the same asset set used to pay card cashback and referral revenue.

Custody

The account is self-custody: funds and tokenised assets sit under your control, with no bank in the path. Neobankless frames this as removing blocking risk, and it also means the recovery model is your own wallet rather than an institution's support desk.

Published

• Conversion: 0.5% all-in on BRL to USDC, with zero IOF
• Card annual fee: $50 a year, charged only after approval, Founders Club included
• Card issuance: no separate issuance fee is published
• Comparison benchmark: 3.5% IOF, spread up to 4.5% and Swift fees of around R$120 on a conventional bank transfer

Not published

• Full card fee schedule, including foreign exchange terms on non-USD spending
• ATM fees and limits
• Spending limits
• Any minimum or maximum on conversion or PIX deposits

The maths they put on the table

Send R$10,000 abroad through a bank and you absorb R$350 in IOF, R$450 in spread and roughly R$120 in Swift fees, receiving about US$1,749. Through NBS you pay R$50 and receive about US$1,892 at the published fixing - a gap of around R$750 per transfer, which Neobankless frames as R$9,000 a year for someone sending that amount monthly.