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Author Topic: This is what've happened in the Bitcoin debit card industry  (Read 2597 times)
weiting@Wagecan
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August 25, 2017, 04:13:33 PM
Last edit: August 30, 2017, 05:53:16 AM by weiting@Wagecan
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 #1

Hi all,
this is Weiting from WageCan, Bitcoin debit card company based in Taiwan.

I guess some of the users are notified by their debit card providers that they no longer can provide service for those users live outside of certain countries and don't get a clear explanation. I don't know whether I'm authorized to say those things, but I think, as companies, they should let their users know the whole story.

Let me explain how did this thing happen:
Company V, which owns company W (the most widely used card issuer), was acquired by another company two years ago.
And the new boss of company W recently decides to limit the card issuing business only to the residents of the European territory.
Furthermore, the Bitcoin debit card companies work with company W need to notify users who don't live in those countries that they need to spend all their balance in 30 days, after which the cards will be suspended. (In another word, you can 't use your card after 30 days)

That's what had happened as far as I know.
If your Bitcoin debit card company says that "we're negotiating with our card issuer(company W) to extend contract blablabla", personally, I think that's a losing battle.

For those want to use Bitcoin debit card outside of Europe, the only option is to choose the cards not issued by company W.
And WageCan has a card named Golden card, is not issued by company W.
If you're interested, feel free to use my referral code https://wagecan.com/s/7NNcu6J6 to get 20% off.

Here is our pricing table https://wagecan.com/pricing
Those are the rating we got from our users https://www.trustpilot.com/review/wagecan.com, https://www.cryptocompare.com/wallets/wagecan-wallet/

Feel free to ask me anything.

EDIT:
I have to modify the content because of some agreements between company W and our company, sorry Sad
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warningsigns
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August 25, 2017, 08:08:22 PM
Last edit: August 25, 2017, 08:59:31 PM by warningsigns
 #2

Ok. I am interested. I will apply shortly.

I used to have a WageCan card (issued by Transforex) but you had problems last year and I was very much inconvenienced by your staff. I was told to submit more and more sensitive documents despite my account being KYC'd and fully vetted and verified earlier.

Let's see if we can rebuild this relationship again in a positive manner. I lost my faith in your company after the Transforex saga (operational issues with your card provider) but I do value trust if it is grounded on a common effort to sustain and maintain it. So I will give it a try again.

Expect my application shortly.

--
Edit. OK I just joined and will order the card tomorrow. I see the sequence of ordering is: buy the card first and then get KYC'd. No problem with that but if this turns out to be a sinister marketing ploy to simply convince people here to send $162 for the card and then you subsequently make it difficult for them to use or activate the card after payment, I will write and disseminate appropriate negative reviews consistent with previous reviews I made about my experience with your company.

 


weiting@Wagecan
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August 26, 2017, 01:57:46 AM
Last edit: August 30, 2017, 04:04:24 AM by weiting@Wagecan
 #3

Thank you.
As a matter of fact, if you choose to buy a Golden card, you could get your Bitcoin back anytime before the package is sent and no question asked.


Ok. I am interested. I will apply shortly.

I used to have a WageCan card (issued by Transforex) but you had problems last year and I was very much inconvenienced by your staff. I was told to submit more and more sensitive documents despite my account being KYC'd and fully vetted and verified earlier.

Let's see if we can rebuild this relationship again in a positive manner. I lost my faith in your company after the Transforex saga (operational issues with your card provider) but I do value trust if it is grounded on a common effort to sustain and maintain it. So I will give it a try again.

Expect my application shortly.

--
Edit. OK I just joined and will order the card tomorrow. I see the sequence of ordering is: buy the card first and then get KYC'd. No problem with that but if this turns out to be a sinister marketing ploy to simply convince people here to send $162 for the card and then you subsequently make it difficult for them to use or activate the card after payment, I will write and disseminate appropriate negative reviews consistent with previous reviews I made about my experience with your company.

 


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August 26, 2017, 03:17:52 AM
 #4

I am about to order and will pm you details in a few minutes as I need something clarified and explained.

Thanks and I hope this will be the start of a good relationship again. I did enjoy your services up until the Transforex issues.. then I was a bit disappointed but if this turns out to be a good hassle-free experience I look forward to using your exchange for all my future bitcoin transactions. I just returned from the ATM and started withdrawing my $3k on my Wave Crest card. My hand was literally shaking when I put the card on the ATM, fearing Visa International already blocked all cards for those card holders not residing in the EU. The card allows max $2k per day so I have to worry again if it will still work tomorrow.

I sent you a pm.



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August 26, 2017, 06:55:34 AM
 #5

I really appreciate this info. Nobody is talking about this even these webs who uses this card like wirex, spectrocoin, cryptopay, uquid and almost all of the bitcoin debit card sellers.
So our money is lost? Talking about spectrocoin I can't even use or unload the virtual debit card and if your guess is correct, we'll lose that money in 30 days.
weiting@Wagecan
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August 26, 2017, 07:49:15 AM
Last edit: August 30, 2017, 04:02:54 AM by weiting@Wagecan
 #6

Hi Dowel,
according to the instruction we received from company W, your money is NOT lost.
Your Bitcoin debit card companies should be able to let you use your cards as normal at least in the following 30 days.

I guess the reason why you can't use it is that it's a purely business tactic - they want to lock you guys in before they find a new card issuer, after that they could send you all a brand new card (no matter it's virtual or plastic).
But the main problem as far as I see is that, it's impossible to get a new card issuer in 30 days. Because if it's that easy, then why the hack don't they do it before?
In another word, they value their own profit than your rights.

Final word:
That's not guessing, that's the truth (One of our cards is issued by company W, they call to each company they work with for this incident.

I really appreciate this info. Nobody is talking about this even these webs who uses this card like wirex, spectrocoin, cryptopay, uquid and almost all of the bitcoin debit card sellers.
So our money is lost? Talking about spectrocoin I can't even use or unload the virtual debit card and if your guess is correct, we'll lose that money in 30 days.
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August 26, 2017, 08:05:14 AM
 #7

alternative provider card another BIN ?
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August 26, 2017, 08:34:15 AM
 #8

Hi all,
this is Weiting from WageCan, Bitcoin debit card company based in Taiwan.

I guess some of the users are notified by their debit card providers that they no longer can provide service for those users live outside of certain countries and don't get a clear explanation. I don't know whether I'm authorized to say those things, but I think, as companies, they should let their users know the whole story.

Let me explain how did this thing happen:
Visa Europe, which owns Wave Crest Ltd.(aka MyChoice), is acquired by Visa International on August 22nd.
And the new boss of Wave Crest Ltd. decides to limit the card issuing business only to the residents of the European territory (see the list: https://mychoicecorporate.com/visa-card-issuance-list/)
Furthermore, the Bitcoin debit card companies work with MyChoice need to notify users who don't live in those countries that they need to spend all their balance in 30 days, after which the cards will be suspended. (In another word, you can 't use your card after 30 days)

That's what had happened as far as I know.
If your Bitcoin debit card company says that "we're negotiating with our card issuer(MyChoice) to extend contract blablabla", personally, I think that's a losing battle.

For those want to use Bitcoin debit card outside of Europe, the only option is to choose the cards not issued by Wave Crest.
And WageCan has a card named Golden card, is not issued by Wave Crest Ltd.
If you're interested, feel free to use my referral code "7NNcu6J6" to get 20% off.

Here is our pricing table https://wagecan.com/pricing
Those are the rating we got from our users https://www.trustpilot.com/review/wagecan.com, https://www.cryptocompare.com/wallets/wagecan-wallet/

Feel free to ask me anything.



uquid.com

Quote
Dear valued customer, Due to our contract expiring with our current card issuer, Our card services will be temporarily unavailable until we can sort out a new contract or sign a new contract with a new card issuer (expected 2 to 3 weeks). In the mean time, all current cards that have been issued and loaded can still be used as normal. you can keep track and management of your card balance via : http://cardholderonline.com (your access token can find in "view card info") We do apologize for any inconvenience caused ! UQ Admin
warningsigns
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August 26, 2017, 09:29:35 AM
 #9

omg.. I'm nervous as heck. Good thing it's Sunday tomorrow and they're closed in Gibraltar so they won't be locking cards on that day. I have one last withdrawal to do and my MyChoice card balance will be zero. Then they can do whatever they want with my card. Just let me get the last $1400 out of my card.

I wasn't told anything about this. But I did get a hint. My card provider mentioned something about a new card with contactless functionality in beta stage.


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August 26, 2017, 02:21:56 PM
 #10

Hello @Weiting

I remember when you introduced the golden card several weeks ago, but if I am not wrong it was, at this time, only available to US citizens (or only with USD currency) How is it as of today? I am desperately looking for a card not issued by Wave Crest Ltd-MyChoice and so far your company is the only one in partnership with another company.
Another thing I would like to ask, do you know when the gift cards will be available?

weiting@Wagecan
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August 26, 2017, 04:20:58 PM
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Hi LeGaulois,
Golden card is still only in USD now (the same as last time I replied to your post), but it ships to worldwide as always.
(I'll ask about the timeline for Golden card in other currencies next week and update here)

As far as I know, the priority of the gift card is postponed because we launched a cloud mining product recently (HashCan, only on iOS).


Hello @Weiting

I remember when you introduced the golden card several weeks ago, but if I am not wrong it was, at this time, only available to US citizens (or only with USD currency) How is it as of today? I am desperately looking for a card not issued by Wave Crest Ltd-MyChoice and so far your company is the only one in partnership with another company.
Another thing I would like to ask, do you know when the gift cards will be available?
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August 26, 2017, 04:42:52 PM
 #12

First of all thanks for the info and I am currently using cryptopay.me debit card and there is no doubt that waves crest ltd is the only card issuer they have. Obviously my country Nepal is not in the new list of supported country in mychoice corporation so I think my card will also be invalid after 30 days.  Angry

I have to pay around $100 tomorrow via that card in one of the store, but after reading all this here I am quite nervous right now. I might not load any bitcoin there, don't want to get stucked.
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August 27, 2017, 03:30:47 AM
 #13

I withdrew my entire balance on my MyChoice card. I think my heart stopped that moment when it said "processing your request" on the ATM's screen.

Will order this Golden card on Monday and give it a try. If it works flawlessly I will use it as my only bitcoin card.






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August 27, 2017, 09:31:23 AM
 #14

Hello,

I buy the golden card, but when I go to verify it say me that only admits passport and I do not have this document, I can not verify it with my id?
weiting@Wagecan
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August 27, 2017, 10:23:53 AM
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Hi melfice123,
If you're a US or Canadian citizen, then you could use driver license instead. We only accept passport for citizens of other countries due to the guideline of our card issuer.

But just like I said in the previous post, you could request a refund by sending email to our customer service anytime before the package is sent Smiley


Hello,

I buy the golden card, but when I go to verify it say me that only admits passport and I do not have this document, I can not verify it with my id?
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August 27, 2017, 01:38:29 PM
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Hi melfice123,
If you're a US or Canadian citizen, then you could use driver license instead. We only accept passport for citizens of other countries due to the guideline of our card issuer.

But just like I said in the previous post, you could request a refund by sending email to our customer service anytime before the package is sent Smiley


Hello,

I buy the golden card, but when I go to verify it say me that only admits passport and I do not have this document, I can not verify it with my id?

Hello, i'm from Domincan Republic. I try to send my ID card.
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August 27, 2017, 06:42:34 PM
 #17

So sad only passports are accepted for the golden card? My hope has been killed in 1 shot Cry Why I am so unlucky with those cards?
70$ for the passport +160$ for the card is too much for me

weiting@Wagecan
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August 27, 2017, 08:52:29 PM
 #18

Sad to hear that.
Hopefully, you could find a bitcoin debit card company with a card issuer that could ship cards to you Smiley


So sad only passports are accepted for the golden card? My hope has been killed in 1 shot Cry Why I am so unlucky with those cards?
70$ for the passport +160$ for the card is too much for me
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August 29, 2017, 12:59:08 PM
 #19

what is this?


" *Name printing is not available on Golden Card."

How can i paid without my name on the card?
No need for an ID?

It´s normal?


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August 29, 2017, 04:36:04 PM
 #20

I have two cards which are both Wave Crest issued, Bitpay and Xapo, yet haven't heard from either of them. I am in Europe, but I assume they're not going to bother filtering the emails so no one's been told directly. There's also no mention on Twitter.

I wonder how many people will be caught out by this. It's poor form.
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