"The Bitcoin Card" review

[kwilliams]

Ok here’s a quick summary of my experience with “the Bitcoin card” service http://thebitcoincard.co.uk  also advertised at https://bitcointalk.org/index.php?topic=191877.msg1987418#msg1987418

This is not a scam. The card is real and probably works. So far I’ve managed to order one from US, received it, activated the card and loaded funds (50 EUR) via Bitcoin deposit. I am yet to make a purchase….

There is customer service and it’s working well (via email). They are quick to recognize problems and side with the customer.  My first card did not arrive on time and they were quick to order another, responses were usually within 24 hours.

Caveats:

• Once you order the card, it may take up to 45 days to arrive in US.
  
• When you get the card, it looks like the prepaid ones from FredMayer, VISA logo et all. The card must be activated according to these instructions: http://thebitcoincard.co.uk/index.php/tc-visa-instructions
  
• I could not make the card activation form to accept my US address, so I used a french one (just random from the internet).
  
• Now here it gets hazy (for US folks). You will be sent to the actual card operator (TransCash) and their site is entirely in French (good thing I had few lessons back in the days). Once you activate the card you will be issues a separate username / password for the TransCash site
  
• Once the card is active you will have to go back to http://thebitcoincard.co.uk   to purchase “top off codes”. The smallest if for EUR 50 and costs EUR 55 (seignorage?). The BTC/EUR exchange rate seems fair.. The code will take up to 24 hours to arrive at your email. You will then have to take that code, login to TransCash and use it to fund your card.
  

Hope this helps,

[kwilliams]

Today I've bought a cup of coffee from Pete's @ Portland with my new card. Worked like a charm. Next thing, is figuring out how to get a pin number do I could withdraw money from ATMs. I suspect I may have to send ID papers to TransCash for that ...

[rammy2k2]

intresting, keep us updated!

[NewLiberty]

The point at which you buy the Top Off Coupon is where the bitcoins are sold, yes?

(You are not storing value in bitcoin on the card itself.)

[elebit]

How could you buy stuff if you don't have a PIN for the card?

[kwilliams]

Yes, the bitcoins are sold at the moment you purchase your top-off coupon. I wish they would hold my balance in BTC untill the moment I actually spend something but this is not the case. This the bitcoin card service basically allows you to load a prepaid VISA with fiat balances, which you purchase with BTC.

The card worked the other day at Starbucks as well. In both places the cashier would simply swipe the card trough their POS terminal and that's it - no pin to enter, nothing to sign ether.

[kwilliams]

I hit a snag with the PIN. Apparently the format I've used to enter my US phone 1-XXX-XXX-XXXX did not work for them. They only send the PIN via SMS so I have to call them (~ 20c/min in addition to international charges) in order to have my PIN reset. Hope TransCash will have English speaking reps. Here's what the site says about this:

Le code PIN sera envoyé par SMS sur le n° de téléphone mobile que vous nous avez communiqué lors de votre enregistrement. En cas de changement de numéro de téléphone mobile, pensez à contacter notre Service Client au 0826 666 555 (0,15€/mn) pour le mettre à jour. Le service de rappel du code PIN est facturé 1€.

[kwilliams]

Got this email today:
Bonjour XXXXX XXXXXXX,Vous avez très certainement reçu le courrier de bienvenue que nous vous avons envoyé à l'adresse suivante :9 RUE EMMANUEL PHILIBERT06300 NICEEn cas de non réception, veuillez contacter notre service client au 0 826 666 555 (0,15€/mn) afin de vérifier la validité de votre adresse.Si vous avez reçu ce courrier, afin de pouvoir profiter pleinement de vos cartes Transcash Visa, vous devez rassembler les documents suivants :• La Copie couleur de votre pièce d'identité recto/verso (carte d'identité européenne, passeport français ou étranger, titre de séjour français).• La photocopie d'un justificatif de domicile de moins de 3 mois (facture éléctricité).• Le formulaire d'informations reçu, daté et signé.Vous devrez nous renvoyer le tout :• Dans l'enveloppe T jointe, sans l'affranchirOU• Par internet, en envoyant ces documents à l'adresse email activation@trans-cash.frDès réception et validation de ces documents par notre service client vous pourrez recharger et utiliser vos cartes avec un plafond de rechargement mensuel de 5000€ et vous pourrez retirer dans tous les distributeurs de billets.Nous restons à votre écoute au 0 826 666 555 (0,15€/mn) pour répondre à toutes vos questions ou pour effectuer toute opération sur votre compte.

I guess they want to verify my address. There's got to be a problem with that since the address that I've picked:

9 RUE EMMANUEL PHILIBERT
06300 NICE

is actually not mine. I'ts some random french address which their online form would understand. The card still works in US but it's becoming more & more clear that it's not meant for US customers

[AirlieBeachBoy]

I attempted to use this card. I ran into a problem straight away, I was unable to activate the card at the trans-cash website. I received an error message saying I required a 12-digit activation code, however I was sent an 8-digit activation code.

Ive contacted the customer support at thebitcoincard.co.uk to explain the situation. They have asked me to email trans-cash by email, and if I still cant resolve it, the people at thebitcoincard.co.uk will issue me a new card.

I find the instructions for how to activate the card hard to follow.

I had to use Google Translate alot since everything at the trans-cash website is in French.

[inceptor]

whats requirments?

any ID verification also need?

[AirlieBeachBoy]

Turns out the fees are pretty high with this card - 10% on top of every top up. So it cost me 550 EURO to buy a 500 EURO top up... Ouch!

I wont be using this card very much given that cost.

[saif313]

Turns out the fees are pretty high with this card - 10% on top of every top up. So it cost me 550 EURO to buy a 500 EURO top up... Ouch!

I wont be using this card very much given that cost.

you bring some fees less and give how can we apply for this card

[AirlieBeachBoy]

Turns out the fees are pretty high with this card - 10% on top of every top up. So it cost me 550 EURO to buy a 500 EURO top up... Ouch!

I wont be using this card very much given that cost.

you bring some fees less and give how can we apply for this card

Um... you say what?

[kwilliams]

More on the fees - there's EUR 0.10 "decline" fee per swipe. For example if you have EUR 50 balance and try to get something for EUR 51, not only the purchase will be declined but your balance will drop to EUR 49.90. This happened to me at McDonalds - the clerk tried twice and it cost me EUR 0.20 in "decline" fees

[Nagle]

This is not a scam. The card is real and probably works.

There is customer service and it’s working well (via email). They are quick to recognize problems and side with the customer.  My first card did not arrive on time and they were quick to order another, responses were usually within 24 hours.

Caveats:

• Once you order the card, it may take up to 45 days to arrive in US.
  

45 day delay? That suggests they're dipping into customer funds. So it's probably a scam.

[kwilliams]

They may be - but you eventually get what's promised, so for me it's not a scam. Yes there are charges on every corner (to call support, to recover pin, to fall short on balance, to add balances, etc), but hey, other people do it to. Have you used a Discover card lately? ("It pays to Discover" is their moto and that's damn right - except you pay them. For example I've discovered a $50 convenience fee while using one of their checks to pay my dentist)

So the guy is not a scamer. There are better options now for US customers and I do not recommend this card for US. However it's a nice try and he deserves some credit for trying.

[kwilliams]

Hello,

I've stopped using the card this summer when balance ran out. It was an experiment for me and it was not worth it, as it cost me 1 BTC to spend 50 EUR (0.5 card + 0.5 funds)

Currently I'm considering opening an account with Fidor Bank (https://www.fidor.de/). It's a real bank i Germany and their service is really 21 century, bitcoin included. Had not made the step yet.

Best of luck

Kate

[gujo82]

Hello,

I've stopped using the card this summer when balance ran out. It was an experiment for me and it was not worth it, as it cost me 1 BTC to spend 50 EUR (0.5 card + 0.5 funds)

Currently I'm considering opening an account with Fidor Bank (https://www.fidor.de/). It's a real bank i Germany and their service is really 21 century, bitcoin included. Had not made the step yet.

Best of luck

Kate

Sitting in the same boat. Have tried thebitcoincard but found their fees to be way of the charts. Have tried emailing them about this, when they eventually reply (can take a week or more), they just state its "middle of market price".

Arent there any other similar services available, which accept the likes of uKash? have googled like crazy but have only found Fidor bank, and some other dodgy looking startups.

[thebitcard.co]

Hey, so this is Zvi Goldstein, from theBitCard.co. My team is working on putting a bitcoin-card solution that works for the US. It's harder than it sounds to put a solution like this together.

That said, we think it's possible to have it cheap, seamless, realiable, and super-secure.

We want our card to make people the most happy. No point in working on features nobody cares about and missing the bit picture of what people really want to see.

So, guys, what do you see as the biggest gap between current offerings and what you'd like to see?

And, if you have  any questions or feedback or whatever, email me at zg@thebitcard.co. I'm a real guy, and I'll answer every question I get.

best,
zg