Yahoo Finance Royal Mint unveils solid gold debit card – but is it worth the £18,750 price tag?
The mega-rich now have a new way to flaunt their wealth, as the Royal Mint has unveiled a debit card made from solid gold.
The 18-carat card has a hefty upfront price tag, starting at £18,750 for the basic version and increasing for bespoke designs.
The cards are linked to a Mastercard Raris account and the owners’ names and signature are engraved into the metal. Users also get perks such as a concierge service and no foreign exchange or transaction fees.
But the card and its benefits do not justify the cost, according to Andrew Hagger, of financial experts Moneycomms.
"I don’t think it’s worth anything near that £18,750," he said. "But I can see people going for it as a status symbol.”
Other than the upfront fee, cardholders do not have to pay any extra charges or meet any entry requirements.
Anne Jessopp, of the Royal Mint, said the gold card had been requested by customers wanting luxury payment options.
For those wanting a metal card without the expense, Monzo, Revolut and N26 all have their own versions.
Monzo charges £7.50 a month for 12 months, though its card has no perks. Revolut demands £120 a year for a steel card, which includes a concierge and cashback. N26 cards cost £14.90 a month and come with travel insurance and free cash withdrawals anywhere in the world.
Apple is also launching a metal credit card, though currently only in America.
