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Author Topic: Advcash | a new "anonymous" bitcoin debit card [EUR & USD]  (Read 174450 times)
marcotheminer
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April 14, 2015, 08:51:27 AM
 #61

BitPay charges a (hidden) fee of 2.5%. Should this be mentioned somewhere?

Can you email me more information about this to andrew@advcash.com? With us, it's our internal rate shown on www.advcash.com and no extra %.

Sent. That's the thing, your internal exchange rate is lower than on other sites. Around 216 USD per BTC rather than 222 USD per BTC. You get less per BTC if you deposit. So the 0% fee is kind of misleading.

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marcotheminer
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April 14, 2015, 08:52:56 AM
 #62

I made some calculations and I found I can save a good amount for one 0.1BTC ATM withdrawal at current price. I calculated this by including loading fee($0.99), BitPay(2.5%), non-USD withdrawal fee($2.99). It still is pretty impressive when compared to BIT-X Debit Card as they have ATM withdrawal fee(3% + 0.02BTC) and conversion fee(1% + 2.5%). Going to order one! Grin


There are no conversion fees with the Bit-X card if you withdraw in USD, EUR or GBP and if you sold BTC from your wallet to give you a balance in one of those.

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April 14, 2015, 08:53:52 AM
 #63

Sent. That's the thing, your internal exchange rate is lower than on other sites. Around 216 USD per BTC rather than 222 USD per BTC. You get less per BTC if you deposit. So the 0% fee is kind of misleading.

I don't think it's misleading in any way. Every Bitcoin marketplace has its own rate, Exmo, Kraken, BitPay, Coinbase, they are all different and at certain moments could be close to ours or not, but you can't say any of them is wrong or misleading, can you? With the rate being so volatile, we just think it's easier for people to see the rate than calculate the % thing.
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April 14, 2015, 08:54:37 AM
 #64

I made some calculations and I found I can save a good amount for one 0.1BTC ATM withdrawal at current price. I calculated this by including loading fee($0.99), BitPay(2.5%), non-USD withdrawal fee($2.99). It still is pretty impressive when compared to BIT-X Debit Card as they have ATM withdrawal fee(3% + 0.02BTC) and conversion fee(1% + 2.5%). Going to order one! Grin


But this one's a prepaid card, so is it fine comparing it to a Debit Card???
Fees are not an issue though, but is it trustworthy and safe enough to be counted on for our BTC???

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April 14, 2015, 08:55:49 AM
 #65

I made some calculations and I found I can save a good amount for one 0.1BTC ATM withdrawal at current price. I calculated this by including loading fee($0.99), BitPay(2.5%), non-USD withdrawal fee($2.99). It still is pretty impressive when compared to BIT-X Debit Card as they have ATM withdrawal fee(3% + 0.02BTC) and conversion fee(1% + 2.5%). Going to order one! Grin


There are no conversion fees with the Bit-X card if you withdraw in USD, EUR or GBP and if you sold BTC from your wallet to give you a balance in one of those.

But here in India, where we will only be able to get fiat in INR, won't 2.5% Forex fee be levied on that transaction???

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April 14, 2015, 08:58:38 AM
 #66

I made some calculations and I found I can save a good amount for one 0.1BTC ATM withdrawal at current price. I calculated this by including loading fee($0.99), BitPay(2.5%), non-USD withdrawal fee($2.99). It still is pretty impressive when compared to BIT-X Debit Card as they have ATM withdrawal fee(3% + 0.02BTC) and conversion fee(1% + 2.5%). Going to order one! Grin


But this one's a prepaid card, so is it fine comparing it to a Debit Card???
Fees are not an issue though, but is it trustworthy and safe enough to be counted on for our BTC???

True, you can't really compare the two.

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April 14, 2015, 09:00:38 AM
 #67

Sent. That's the thing, your internal exchange rate is lower than on other sites. Around 216 USD per BTC rather than 222 USD per BTC. You get less per BTC if you deposit. So the 0% fee is kind of misleading.

Yeah, I saw your email. I believe there is no universal Bitcoin price and each marketplace has its own and the 'average' price you mentioned really does depend on which marketplaces your include in your statistics, right? If that site included us, maybe the average price would be different Smiley

Either way, for fiat currencies, there is a Forex exchange rate that you see online on various sites and then there is the exchange rate of your local bank which is most likely going to be different, but you can't say that's misleading, can you?
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April 14, 2015, 09:02:09 AM
 #68

Damn! Not available in India. Cry

There are no conversion fees with the Bit-X card if you withdraw in USD, EUR or GBP and if you sold BTC from your wallet to give you a balance in one of those.

Exactly. When we withdraw INR, fees are ridiculously high especially the inactive fee.

But this one's a prepaid card, so is it fine comparing it to a Debit Card???
Fees are not an issue though, but is it trustworthy and safe enough to be counted on for our BTC???

I think this is safe for small amounts. I don't store big amounts, anyway. Even if I want, I will fund and withdraw it from ATM. However, we are unlucky, friend!

P.S. I don't see much difference between BIT-X debit card and Advcash prepaid card. AFAIK we will have to fund account prior to loading money to card. So I care about the fees more. In USD, BIT-X's fee doesn't look very high, however, if you look in INR, it is very high.

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April 14, 2015, 09:07:39 AM
 #69

Sent. That's the thing, your internal exchange rate is lower than on other sites. Around 216 USD per BTC rather than 222 USD per BTC. You get less per BTC if you deposit. So the 0% fee is kind of misleading.

Yeah, I saw your email. I believe there is no universal Bitcoin price and each marketplace has its own and the 'average' price you mentioned really does depend on which marketplaces your include in your statistics, right? If that site included us, maybe the average price would be different Smiley

Either way, for fiat currencies, there is a Forex exchange rate that you see online on various sites and then there is the exchange rate of your local bank which is most likely going to be different, but you can't say that's misleading, can you?

It is ever so slightly different with fiat currencies I've noticed. Not 2.5% in difference.

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gkv9
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April 14, 2015, 09:13:06 AM
 #70

I think this is safe for small amounts. I don't store big amounts, anyway. Even if I want, I will fund and withdraw it from ATM. However, we are unlucky, friend!

P.S. I don't see much difference between BIT-X debit card and Advcash prepaid card. AFAIK we will have to fund account prior to loading money to card. So I care about the fees more. In USD, BIT-X's fee doesn't look very high, however, if you look in INR, it is very high.

Even the currency Exchange fee for this card is 2% which is 0.5% less than Bit-X...
The only thing I don't like in the fees was, Balance Inquiry for which we need to give $0.5 (eqv. to INR 30)... Seriously??? Just to check balance???

The Virtual one has something extraordinary to offer, but that won't be of any help...

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April 14, 2015, 09:14:16 AM
 #71

Can't Indians create a virtual card? After I tried to order the card, it said "not available in your country" and the "Creat card" button disappeared. At least, they should have addred virtual card for Indians. Undecided

Why do you use Protectimus instead of widely used Google Authenticator? The hardware OTP looks good but you can support Google Authenticator for software OTP, right?

Edit:

Even the currency Exchange fee for this card is 2% which is 0.5% less than Bit-X...
The only thing I don't like in the fees was, Balance Inquiry for which we need to give $0.5 (eqv. to INR 30)... Seriously??? Just to check balance???

The Virtual one has something extraordinary to offer, but that won't be of any help...

Balance inquiry is high but we always have to make small sacrifices. Still if you compare, you Advcash is better. Anyway, we are out of this. No India, no Indians.

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April 14, 2015, 09:26:59 AM
 #72

Balance inquiry is high but we always have to make small sacrifices. Still if you compare, you Advcash is better. Anyway, we are out of this. No India, no Indians.

How come no Indians??? They haven't given any such list on their website...
One thing I would like to tell you is, someone PM'ed me asking to order this card and I have already mentioned my country as India in my profile, why would he ask me to do so knowing I am not allowed to order???

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April 14, 2015, 09:27:34 AM
 #73

I made some calculations and I found I can save a good amount for one 0.1BTC ATM withdrawal at current price. I calculated this by including loading fee($0.99), BitPay(2.5%), non-USD withdrawal fee($2.99). It still is pretty impressive when compared to BIT-X Debit Card as they have ATM withdrawal fee(3% + 0.02BTC) and conversion fee(1% + 2.5%). Going to order one! Grin



Are you saying that the advanced card is better than the bit-x card? I am still waiting the first one, and I wanted to order the bit-x but if there is not difference I will not order it.
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April 14, 2015, 09:32:20 AM
 #74

How come no Indians??? They haven't given any such list on their website...
One thing I would like to tell you is, someone PM'ed me asking to order this card and I have already mentioned my country as India in my profile, why would he ask me to do so knowing I am not allowed to order???

They disable "Order card" when I entered India when ordering. I can't even see that button now.

Are you saying that the advanced card is better than the bit-x card? I am still waiting the first one, and I wanted to order the bit-x but if there is not difference I will not order it.

Yes. However, you musy do your own due diligence. The fee becomes high in BIT-X if you aren't withdrawing USD, EUR or GBP.

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April 14, 2015, 09:34:30 AM
 #75

I made some calculations and I found I can save a good amount for one 0.1BTC ATM withdrawal at current price. I calculated this by including loading fee($0.99), BitPay(2.5%), non-USD withdrawal fee($2.99). It still is pretty impressive when compared to BIT-X Debit Card as they have ATM withdrawal fee(3% + 0.02BTC) and conversion fee(1% + 2.5%). Going to order one! Grin



Are you saying that the advanced card is better than the bit-x card? I am still waiting the first one, and I wanted to order the bit-x but if there is not difference I will not order it.

This card is different to the Bit-X card which is a debit card not a prepaid card. Fees are basically the same, there is a percent of so more with Bit-X since it is a full debit card.

Has anyone received their physical card yet?

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April 14, 2015, 09:50:01 AM
 #76

I made some calculations and I found I can save a good amount for one 0.1BTC ATM withdrawal at current price. I calculated this by including loading fee($0.99), BitPay(2.5%), non-USD withdrawal fee($2.99). It still is pretty impressive when compared to BIT-X Debit Card as they have ATM withdrawal fee(3% + 0.02BTC) and conversion fee(1% + 2.5%). Going to order one! Grin



Are you saying that the advanced card is better than the bit-x card? I am still waiting the first one, and I wanted to order the bit-x but if there is not difference I will not order it.

This card is different to the Bit-X card which is a debit card not a prepaid card. Fees are basically the same, there is a percent of so more with Bit-X since it is a full debit card.

Has anyone received their physical card yet?

I have received the physical card a couple of days ago, why?
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April 14, 2015, 09:50:41 AM
 #77

I have received the physical card a couple of days ago, why?

Just wondering, I'd like to see what it looks like if possible?

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April 14, 2015, 10:03:51 AM
 #78

I have received the physical card a couple of days ago, why?

Just wondering, I'd like to see what it looks like if possible?

Yes of course, why not:

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April 14, 2015, 10:05:49 AM
 #79

What's with the "electronic use only"?

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April 14, 2015, 10:12:33 AM
 #80

What's with the "electronic use only"?

See:

MasterCard® Unembossed

MasterCard has developed a new payment solution for consumer segments who have been traditionally underserved – MasterCard Unembossed. These days, customers are looking for greater utility, security, convenience in a payment card. The result is an accelerating number if new programs designed to meet specific cardholder needs, respond to particular market dynamics, or take advantage of new technologies.

What is MasterCard Unembossed?

In most respects it is similar to the MasterCard cards that you already accept: it might take the form of a credit, debit, or MasterCard Prepaid card, and will have the same familiar MasterCard brand mark. There is, however, one major difference – the card will look “flat”. All account information – cardholder name, primary account number (PAN), validity date, and security character – is printed rather than embossed. MasterCard Unembossed has been designed to manage risk by working only in your electronic terminal.

How Does it Work?

You should not process any MasterCard Unembossed transactions if you do not have an electronic terminal, or if it is out of use. If you accept a MasterCard Unembossed transaction and you do not have an electronic terminal, or it is out of use; you may carry additional liability. MasterCard Unembossed cards include an “ELECTRONIC USE ONLY” legend on the card front to inform consumers that merchants will be processing their transactions using their electronic terminals.

How to Accept MasterCard Unembossed?

If you are a merchant with an electronic terminal, you are ready to start accepting MasterCard Unembossed. If you do not have an electronic terminal, you may want to contact your acquirer to learn how you can get one. MasterCard Unembossed has been developed specifically for markets like yours and we anticipate an increasing number of consumers wanting to use it.

MasterCard Unembossed does not require a separate decalization effort, new equipment, or any system changes; and it is covered by your existing merchant agreement.

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