The verdict
5.5 / 10 · SKIP
Mode (London-based, founded 2018) offers a UK-licensed neobank account with up to 6% BTC cashback on card spending. Smaller scale than Revolut — but the most generous BTC cashback in the UK market. Mode Global Holdings PLC migrated from LSE main market to AQSE Growth Market in 2023; remains independently listed.
◆ BUY IT IF
- The most generous BTC cashback in UK market (6% at peak retailers)
- FCA-registered cryptoasset firm
- Free standard tier
- Integrated GBP banking (Faster Payments)
◇ SKIP IT IF
- Smaller scale — fewer ATM networks than Revolut
- BTC-only — no altcoin support
- Cashback rates vary by retailer + change frequently
- Customer support thin
§ 01 SCORE BREAKDOWN
Eight axes, weighted.
DIMENSION WEIGHT RATING SCORE
Regulatory safety
FCA Electronic Money Institution + Cryptoasset Firm registration. Mode is not a bank (no banking licence) — op
Card & IBAN
Multi-currency IBAN · physical + virtual cards
Yield
No yield product
Coin selection
1 coins supported
App UX
Transparency
Proof of Reserves, public filings, incident history
Fees & spreads
Support
§ 02 THE FIELD TEST
How we tested Mode.
Drafted from public sources — regulatory licences verified against issuing-authority registers (NYDFS, FCA, MAS, VARA, FSCA, etc.); fees verified from current published rate cards. Not yet field-tested.
DATE STEP TIME NOTES
— Account opened — KYC completed end-to-end
— First deposit — Not yet field-tested — record drafted from public sources; first-hand testing scheduled for the next review cycle.
— First withdrawal — Not yet field-tested — record drafted from public sources; first-hand testing scheduled for the next review cycle.
— Card activated — Card not supported / not ordered
— Last hands-on check — Drafted from public sources — regulatory licences verified against issuing-authority registers (NYDFS, FCA, MAS, VARA, FSCA, etc.); fees verified from current published rate cards. Not yet field-tested.
§ 03 SPECIFICATIONS
Everything, in one table.
Regulation
- Regulatory status
- FCA Electronic Money Institution + Cryptoasset Firm registration. Mode is not a bank (no banking licence) — operates as EMI with FCA cryptoasset registration. Mode Global Holdings PLC listed on AQSE Growth Market.
- FDIC insurance
- No
- MiCA compliant
- No
- Founded
- 2018
- HQ
- London, UK
Fees
- Monthly account fee
- Free
- Trading fee
- —
- Withdrawal fee
- Variable
Yield & products
- Earn yield
- 0–6% BTC cashback on spending; periodic Earn programmes
- Max APY
- —
- Staking
- No
- Crypto-backed loans
- No
- Supported coins
- 1
Banking
- IBAN
- Yes
- Debit card
- Yes
- DeFi access
- No
- NFT support
- No
Regions
- Regions available
- UK, EU
- Markets served
- —
Support
- Trustpilot
- N/A
§ 04 FAQ
Frequently Asked Questions
Is Mode safe? +
Mode has a regulatory status of: FCA Electronic Money Institution + Cryptoasset Firm registration. Mode is not a bank (no banking licence) — operates as EMI with FCA cryptoasset registration. Mode Global Holdings PLC listed on AQSE Growth Market.. Always verify current regulatory status directly with the platform before depositing.
What is the maximum APY on Mode? +
Mode does not offer a traditional yield/APY product. 0–6% BTC cashback on spending; periodic Earn programmes
Where is Mode available? +
Mode is available in: UK, EU. Markets served: .
Does Mode have a debit card? +
Yes. Mode offers a debit card.