Binance Visa Cards Are Now Available in Europe

[examplens]

My experience with Binance card.

Last week I have receive an email that my card is ready to be issued and I immediately ordered it. This morning I've checked my mailbox and found and envelope there with the card. Got my card in less than 1 week. It was delivered from Germany via Deutsche post.

I've transferred small amount of funds from spot account to the card just to test it. To be precise 18$ worth Swipe (SXP) tokens. Then I've finished my work and went out for a lunch. I've tried to check my card balance on the ATM screen but it just spit my card out. Tried to withdraw 10 EUR several times - got my card back again. Tried 5 EUR - same result. Then I took a risk and entered local shop (wearing mask of course) and tried to use it to pay for my purchase (around 1.5 EUR) - had to capitulate and use regular card...

Not satisfied, 1/5 stars just for quick delivery and easy UI on binance.com

so you failed to use it on ATM or POS terminal, right?
Did you check on Binance, maybe you need to activate it first, or you've already done it?
I didn't look in their app but maybe also there you need to enable using the card for offline payments, ATM etc...

[bakasabo]

My experience with Binance card.

Last week I have receive an email that my card is ready to be issued and I immediately ordered it. This morning I've checked my mailbox and found and envelope there with the card. Got my card in less than 1 week. It was delivered from Germany via Deutsche post.

I've transferred small amount of funds from spot account to the card just to test it. To be precise 18$ worth Swipe (SXP) tokens. Then I've finished my work and went out for a lunch. I've tried to check my card balance on the ATM screen but it just spit my card out. Tried to withdraw 10 EUR several times - got my card back again. Tried 5 EUR - same result. Then I took a risk and entered local shop (wearing mask of course) and tried to use it to pay for my purchase (around 1.5 EUR) - had to capitulate and use regular card...

Not satisfied, 1/5 stars just for quick delivery and easy UI on binance.com

so you failed to use it on ATM or POS terminal, right?
Did you check on Binance, maybe you need to activate it first, or you've already done it?
I didn't look in their app but maybe also there you need to enable using the card for offline payments, ATM etc...

I've failed at everything.

My card is activated. The only way to activate it is to type CVV code. On the "Card" section my card is "active" and it has a green light.
I've top up its balance yesterday with some bitcoin. Now its balance is about 200 EUR. Hour ago I've tried to pay via POS terminal using contactless method (card has a logo of it) and by inserting card in terminal - nothing worked. Tried to withdraw 100 EUR. Same result.

I havent found any buttons, switches or a place where I can put a tick to enable offline payments. Binance does not have that kind of option at all. From the list that was in mail, it should have worked straight out of the box, I just need to top up it. Gonna contact Binance support right now. At least this useless so far card cost me nothing.

P.S. My cards balance consist from Bitcoin and Swipe, but it has a EUR currency also. Maybe I need to first convert my crypto to EUR. But this is the issue, why should I have an option to top up it with different crypto? And as I remember, Binance should make all the exchanges using VISA exchange rate. It should not be that complicated for user to use the card.

[malevolent]

The 0.9% is not so much worrying alone. But they also say

*Please note that some third party service and network fees may apply.

On the other hand the Swipe CEO said (but I couldn't also verify on Binance pages) that the FX fees

have been waived. You will have near-perfect interchange bank rates on forex conversions.

This should be quite a difference from the competition I know.

Has anyone been able to use this card outside the Eurozone (but ideally still within the EU) and could tell what are the effective fees?

[stompix]

P.S. My cards balance consist from Bitcoin and Swipe, but it has a EUR currency also. Maybe I need to first convert my crypto to EUR. But this is the issue, why should I have an option to top up it with different crypto? And as I remember, Binance should make all the exchanges using VISA exchange rate. It should not be that complicated for user to use the card.

Binance claimed that the conversion is done automatically and you can even specify the order in which coins are converting to pay the merchants.
This was one of the things that almost made me sign up for one since my current experience with Wirex is not that great, especially this conversion when I have to change BTC to euros and then go to the card page and load a number of Euros from the balance on it, unnecessary pain in the ass.

Anyhow, ATMs and POS have errors messages hasn't at least one told you why the payment or the card got rejected? I know this because I've encountered them all, I used to carry all the useless stuff in my wallet, and once I picked up a card that was expired 4 years ago  , insufficient balance, an inactive card, even ATMs usually throw you a receipt with the error printed.

Has anyone been able to use this card outside the Eurozone (but ideally still within the EU) and could tell what are the effective fees?

I'm also interested to see how much you get fleeced if you try to withdraw some local currency with it outside the EURO zone, I don't remember well but Wirex managed to reach something above 10%..

[NeuroticFish]

P.S. My cards balance consist from Bitcoin and Swipe, but it has a EUR currency also. Maybe I need to first convert my crypto to EUR. But this is the issue, why should I have an option to top up it with different crypto? And as I remember, Binance should make all the exchanges using VISA exchange rate. It should not be that complicated for user to use the card.

I've used my virtual card (since the real one didn't arrive yet) a couple of times and it uses the currencies based on the order set there.
In my case if I had EUR on it, it used those, and if those were depleted, it has been using from the bitcoins there.
But, very important, the funds have to be in the Card wallet, not in Spot (unless a certain checkbox is checked).

So:
1. You should not have to exchange to EUR if you don't want to.
2. Your available funds should be in the Card wallet.

If those conditions are met.. maybe their support can help you out....

[bakasabo]

Anyhow, ATMs and POS have errors messages hasn't at least one told you why the payment or the card got rejected? I know this because I've encountered them all, I used to carry all the useless stuff in my wallet, and once I picked up a card that was expired 4 years ago  , insufficient balance, an inactive card, even ATMs usually throw you a receipt with the error printed.

The only message I've got was "declined" or "cancelled", or something like that. ATM did not print me anything, it just allow be to select other steps (check balance, withdraw amount and etc) and then spit the card out.

So:
1. You should not have to exchange to EUR if you don't want to.
2. Your available funds should be in the Card wallet.

If those conditions are met.. maybe their support can help you out....

I have 0.007 Bitcoin and 21 Swipe on card balance, but 0 EUR. I've talked to support and they confirmed that I did not have to manually convert funds to EUR to be able to pay in EUR or withdraw them. Them offered me yesterday, to try to withdraw or pay with that card today, and if I failed again, contact them again. I failed... But will contact them on Monday, as New Year celebration will start in a couple of hours

[NeuroticFish]

and if I failed again

You seem to have everything in order.
Some things I'd add from my experience, although it was with Wirex:
1. The card may need to be entered into a ATM in order to be considered activated for real.
2. First ever POS payment should be with PIN
3. There is a good chance that if a shop has declined your card once, it will decline it next times too (my Wirex was still not working on the first shop declining it, although it works on the others).

Good luck and keep us posted!
And Happy New Year too

[malevolent]

I'm also interested to see how much you get fleeced if you try to withdraw some local currency with it outside the EURO zone, I don't remember well but Wirex managed to reach something above 10%..

Withdrawing is almost always going to be expensive for a variety of reasons, but it'd be nice if it were truly possible to make non-EUR transactions with no extra fees (no currency conversion fees and conversions at market rates).

[bakasabo]

and if I failed again

You seem to have everything in order.
Some things I'd add from my experience, although it was with Wirex:
1. The card may need to be entered into a ATM in order to be considered activated for real.
2. First ever POS payment should be with PIN
3. There is a good chance that if a shop has declined your card once, it will decline it next times too (my Wirex was still not working on the first shop declining it, although it works on the others).

Good luck and keep us posted!
And Happy New Year too

1. Perhaps, but on Binance.com my cards status is active, and I've inserted it into ATM numerous times when tried to withdraw cash. Strange that several ATMs instantly offer English language UI and several Russian language (my native), while official language is different.
2. Tried POS payment using contactless method and PIN
3. I've tried 4 different bank ATMS and two shops. I have a feeling that after these failures, my card already got into a "bad list" in local banks security system. Now every time I use this card banks decline it as a suspicious deal.

Anyway, I have this card for 3 days and it is a useless peace of plastic so far.

[bakasabo]

My 2021 year started with contacting Binance support.

I did tried to withdraw during weekend, but the result was predicted. I'll just drop few lines here from conversation with support (it will be a translated text).

"There was only one transaction on your card, it was unsuccessful for the reason that it was an authorization transaction with a zero amount, in this case you need to change the authorization amount"

"Such transactions usually use subscription services to authorize the card"

"Ask the service to change the authorization cost for you. Usually, such transactions take place with some minimum amount, for example, 0.01 EUR".

It seems that option "When you spend using your Binance Visa Card, it converts your crypto funds into your local currency automatically, allowing you to spend at 60 million locations around the world seamlessly." does not work. Support told me that it is my duty to go bank/banks and try to active card with this "authorization cost". I find it impossible to explain to bank operators what I need from them to activate my cryptocurrency card.

Suggestion from Binance Support:

*find that one ATM whos bank will work with Binance card
*find that one shop with POS terminal that will work with Binance card
*try to use it as a virtual card. I've asked if I can use it for Amazon or eBay, the answer was yes, but I already feel like I will have troubles.

In general, even though I'm trying to use Binance card in a country from "list of Country Eligibility for the “Pay with Bank Card” " - it does not work or work properly.

Sorry Binance, but I'm not going to run here and there trying to test or use your card, I'm going to search for an alternative (found crypto.com).

[bakasabo]

I just can not easily let go this situation and started digging. It turned out (for me) that if I exchange cryptocurrency to EUR by myself (simply using exchange) and add EUR to card balance, I'm able to withdraw EUR from ATM. "automatic conversion" does not work or work only for specific countries.

Solution for me - to-up card with EUR and not crypto. I have withdrawn 5 and 100 EUR and was charged 0 fee for this from Binance and my local bank. Next step - I will try to use card (with EUR on the balance) with POS terminal and maybe try toping-up with crypto and repeat withdrawing.

[malevolent]

"automatic conversion" does not work or work only for specific countries.

Which country did it not work correctly in? (so that others may know, too). [guessing redacted upon request]

Anyway, I'm still curious to hear about any reports on experience of using the card outside the Eurozone.

[stompix]

Solution for me - to-up card with EUR and not crypto. I have withdrawn 5 and 100 EUR and was charged 0 fee for this from Binance and my local bank.

This one is interesting, you withdraw 100 euros from an ATM and you were not charged anything extra in your Binance account?
Even my bank was charging me when I had the basic account 0.5 euros to withdraw cash from ATMs that were not owned by them and as far as I remember there is only one bank here that is not charging extra people who try to withdraw with cards from other banks, banks still located here in my country and Eurozone.

This sounds a bit too good to be true but it's quite a small advantage compared to the rest and all that hassle is clearly a turn-off.

Some things I'd add from my experience, although it was with Wirex:

I know you were saying you're going to ditch Wirex, I assume following this that it wasn't for binance, you went to for the crypto.com card?

[bakasabo]

Solution for me - to-up card with EUR and not crypto. I have withdrawn 5 and 100 EUR and was charged 0 fee for this from Binance and my local bank.

This one is interesting, you withdraw 100 euros from an ATM and you were not charged anything extra in your Binance account?

This sounds a bit too good to be true but it's quite a small advantage compared to the rest and all that hassle is clearly a turn-off.

Here are two withdrawals from different bank ATMs

5 EUR test and 100 EUR I wrote above


Here is a contactless payment in POS terminal yesterday



Card balance is already corrected, but it takes 2 days for payment to change status from paid two completed. This info might be useful to those who makes a prepayment and send transaction confirmation to receiver.

Noticed, that Binance count withdrawals as Ineligible for cashback and it takes 3 days for Binance to handle if transaction on the card is eligible on not.

[NeuroticFish]

Some things I'd add from my experience, although it was with Wirex:

I know you were saying you're going to ditch Wirex, I assume following this that it wasn't for binance, you went to for the crypto.com card?

 
I am mad on Wirex, yet I didn't ditch them for now. I didn't have yet a better option hence I decided to also wait and see the new card fees.
And no, your assumption is incorrect. I did order Binance card, not crypto.com; just I'm waiting for it to arrive and meanwhile using their virtual card.

[bakasabo]

Another update.

After several successful withdrawals and payments in POS terminal with card (balance was toped-up with EUR), I've decided to check if automatic conversion becomes active (as Binance support told that there must be transaction with EUR be made first and it such option might be activated).

I have toped-up card with BTC, while it has 6-7 EUR available on the balance and tried to withdraw. ATM showed me message "insufficient funds" and gave back my card. Also I have received SMS notification with unsuccessful withdrawal.

1% cashback - works well with purchases.

[NeuroticFish]

I can also come with updates.

1. My card has also finally arrive (found it yesterday evening in the mailbox).
2. I had no issues at all, but:
 2.1. I've used my virtual card before.
 2.2. Since I was scared of all that was written in this thread, I've taken all the precautions
   * The first ever use was a withdrawal at ATM
   * The first POS use was with inserting it and entering the PIN
   * The first few attempts were done with some EUR in my Binance card account
3. At the moment I've opened the envelope and started the activation at Binance, the old virtual card went to oblivion (as a warning for those who may have saved the virtual card here or there).
4. I've also moved all my EUR back to Spot account in order to see if spending Bitcoin directly works (it did work in my virtual account, when I spent directly EUR, but now I'm spending RON). And it worked!

So I don't know what's the problem for @bakasabo, but for me it worked fine.
What came into my mind is that maybe the order of the Card currencies matters. In my case EUR and BUSD are the first to be spent, BTC comes afterwards.

[bakasabo]

Thanks for sharing your experience.

Maybe I should also try to move remained EUR to spot account and leave only BTC on the card. Maybe then, banks will start to count "my balance" in crypto, and not in euro only. Maybe this is due to you have used your card as a virtual one, but instantly tried to use it in ATM in few hours after I got it.

But I suppose that my problems are just my local/due to my local banks. The country I'm in is not the most developed, strongest, with banks that could impact on other country banking systems.

Update:

Just check my card balance and here what is what I have found:



This is how "7 EUR and Bitcoin on the balance" withdrawal looks like. I've failed to withdraw, but Binance made automatic conversion today (withdrawal date was January 8 ) and I have now exactly 50 EUR on the balance... Also the amount on my Spot balance decreased today. Btw, I cant find any history of this conversion. I only see that I've spent 0.001299 BTC for that failure withdrawal, but according to my math (using Delta app to follow my portfolio changes), my BTC balance decreased for 0.001009150 BTC instead.

Conclusion - automatic conversion work, but it works weird.

P.S. Sorry for my not perfect English.

[shield132]

According to binance, fees of atm withdrawal are up to 0.9% but as I see from your screenshots, you get withdrawal with zero fees. How is that possible? Is there a certain limit where withdrawals from ATM are free or it's an individual task and depends on bank/atm?

Also, are you able to do a contactless withdraw from ATM? In my country, every bank charges high fees (more than 2%, usually 5%) when you try to withdraw from ATM via contactless way and is binance still capable to offer you not more than 0.9% fee?

How would you compare Binance card to XAPO?

[bakasabo]

According to binance, fees of atm withdrawal are up to 0.9% but as I see from your screenshots, you get withdrawal with zero fees. How is that possible? Is there a certain limit where withdrawals from ATM are free or it's an individual task and depends on bank/atm?

Also, are you able to do a contactless withdraw from ATM? In my country, every bank charges high fees (more than 2%, usually 5%) when you try to withdraw from ATM via contactless way and is binance still capable to offer you not more than 0.9% fee?

How would you compare Binance card to XAPO?

I dont know why they charge zero fees for withdaraw or using POS terminal instead of 0.9% fee. Because when I ordered my Binance card I was ready to pay that fee. My card daily limits are 290.00 EUR withdrawals / 8,700.00 EUR spending. I guess this is default.

Before I've seen your post, I did not know ATM has contactless withdrawal option. This morning I've checked my nearest ATM and it had contactless logo - tried, but it did not react to my card.

I can not compare Binance to Xapo, as I dont have Xapo card.

Yesterday I wrote that automatic crypto-fiat conversion worked. Yes it worked and showed I have 50 EUR on the balance. But this morning ATM showed my balance is 0. Checked this on two different bank ATMs. Please write that someone else is having issues with the card. It cant be that I'm the only one who has troubles...