Too bad your card fees are nothing but extortionate. Not nearly competitive with any alternatives at all. (0.002 BTC + 1% for payments/POS transactions??? penalty of 0.05 BTC for less than 5 transactions per month?)
Even if one were to sign up directly with the offshore bank you are using to issue the cards (Hermes Bank) the fees would be significantly more reasonable I suppose. (you require your clients to go through the bank's due diligence anyway to lift the limits, so one might as well go to them directly) Not to mention regular "on-shore" banks and other card issuers.
Are there any advantages to using your cards at all? Convince me.
Fees are not in place to generate revenue for Bit-X, rather they are to cover the operating costs.
You wouldn't be able to get a BTC (or LTC) linked card directly through any bank. Advantages compared to exchanging for cash through LocalBitcoins I assume? For one, you have access to instant cash or goods whenever and wherever. The fees (in total per use) are on par and sometimes even lower than trading through LocalBitcoins. In addition, the card comes with the convenience of 'whenever, wherever' (with other exchanging methods you need to wait and organise times to exchange your BTC).
I understand that the necessary fees are a turn off for many, but I do believe that fees will continue to drop (as they have recently) in the near future.
If you have any other questions please do ask. Likewise with any feedback, please post it here!
