Aggro (OP)
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April 12, 2012, 01:53:17 PM |
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Dear Bitcoiners, We are very excited to announce a new service that will revolutionize how you get your funds for your traded Bitcoins! Announcing: Withdraw2CardWhat is it?Withdraw2card allows you to sell your Bitcoins and receive your funds on a debit or credit card you already own! Works with any credit/debit card in the world, denominated in any currency! How does it work?You sell your Bitcoins at the exchanger of your preference (currently supported: MtGox, BTC-e, CryptoXchange, and Bitcoinica). You withdraw your funds by a redeemable code. You use this code on our website to order a payment to your debit/credit card. How long does it takes to get the funds?We send the funds instantly and your bank credits the amount within 1 to 4 business days (with 85% of customers getting the funds within 2 to 3 business days). Which credit cards are supported?Works with Visa, MasterCard, Amex, Diners, JB and many other major networks. In which currencies can you send fundsWe can natively send funds in both USD and EUR, however, if your card is denominated in a different currency, you can still use our service! For example, if your card is denominated in GBP, simply select the USD option on our site. We will send you the USD funds, and your card issuer will automatically convert your funds to GBP. It is that easy! We can send funds to cards issued in any country in the world!How much does it cost?There is a fee of $9 for each USD payment, and €7 for each EUR payment charged by the processor. In addition, there is a percentage fee charge by our company that varies according on how you pay us. For a current list of fees, please visit: https://www.aurumxchange.com/ratesCan I use this as a cheap alternative to wire transfers?YES!! If you send funds to a debit card linked to your bank account (for example, your debit card issued by Chase and linked to your checking account), your funds will be automatically credited to your account! When you think of all the fees involved in international bank wires (such as sending fee, receive fee, intermediary bank fees, etc), this might be an excellent alternative, specially for smaller amounts. What are the minimum and maximum amounts I can send to my card?The minimum amount is $15 for USD payments, and €12 for EUR payments. The maximum is $1,000 and €1,000. PLEASE NOTE: You should NEVER attempt to send more than your card credit limit, if there is one. For example, if your card's purchase limit is $500, do not attempt to send more than that to your card, or some delays might occur. Can I cash out other electronic currencies by this method as well?YES! Anything that we accept, you can cash out to your card! Some electronic currencies we work with are: Liberty Reserve, PerfectMoney, Pecunix, CosmicPay, HD-Money, and C-Gold. Where can I learn more?Please check our knowledge base for more information: https://www.aurumxchange.com/help/knowledgebase.php?category=7If you have any questions or comments, please feel free to post on this thread or open a support ticket on our website. Thank you! The AurumXchange Company |
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Etlase2
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April 12, 2012, 02:04:11 PM |
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Fees, fees, and more fees. Why do you charge significantly more to deposit to the Aurum MC? Do you have to pay a % on amounts for all these fees too? Otherwise capping the fees would certainly be a nice gesture for people that move more than just a few hundred around. Wires can usually be done for $30-$50 on any amount whereas at $1,000 you're already looking at $39.
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Aggro (OP)
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April 12, 2012, 02:10:06 PM |
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Fees, fees, and more fees. Why do you charge significantly more to deposit to the Aurum MC? Do you have to pay a % on amounts for all these fees too? Otherwise capping the fees would certainly be a nice gesture for people that move more than just a few hundred around. Wires can usually be done for $30-$50 on any amount whereas at $1,000 you're already looking at $39.
Most of the fees go to the processor. Loading to Aurum MC is more expensive because of the instant load, there is a % fee there from the processor too. Fees are a fact of life when moving money around. $39 is still better than the average $45 in fees when sending international wires. Lower fees means more turn over, and more profit for us. We keep the fees as low as we can while still be able to make a profit. |
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kangasbros
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April 12, 2012, 02:40:47 PM |
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Fees, fees, and more fees.
I don't understand what you are complaining. This is unique and hugely needed service. If you think there are too much fees, why don't you offer a competing service? Personally I don't just care, I only complain if the fees are hidden. Here they are in plain sight. |
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Aggro (OP)
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April 12, 2012, 02:49:55 PM |
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This is unique and hugely needed service.
Thank you for pointing this out. It took us nearly 9 months to negotiate this contract and pass the licensing / scrutiny involved to be able to be authorized by the big card players to have direct access to send funds on their network, and it is very discouraging when the first comment is somebody complaining about fees, which most of them are out of our control. I think people don't understand the investment in both capital and work involved in moving fiat. Licensing, legal fees, structuring, etc. specially after 9/11, when governments now have the perfect excuse to meddle into everything, and that cost money, both for the banks and credit card companies that are passed onto the merchant. The processor fee by the way, we might be able to negotiate down with volume, but until that happens, we are stuck with them. I believe this is huge for bitcoin, and I appreciate your comment. Roberto |
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jaminunit
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Co-Founder of TheStandard.io & Vaultoro.com
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April 12, 2012, 03:06:07 PM |
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nice one guys! well done!
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MacRohard
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April 12, 2012, 03:10:19 PM |
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Dear Bitcoiners, We are very excited to announce a new service that will revolutionize how you get your funds for your traded Bitcoins! Announcing: Withdraw2CardWhat is it?Withdraw2card allows you to sell your Bitcoins and receive your funds on a debit or credit card you already own! Works with any credit/debit card in the world, denominated in any currency! How does it work?You sell your Bitcoins at the exchanger of your preference (currently supported: MtGox, BTC-e, CryptoXchange, and Bitcoinica). You withdraw your funds by a redeemable code. You use this code on our website to order a payment to your debit/credit card. How long does it takes to get the funds?We send the funds instantly and your bank credits the amount within 1 to 4 business days (with 85% of customers getting the funds within 2 to 3 business days). Which credit cards are supported?Works with Visa, MasterCard, Amex, Diners, JB and many other major networks. In which currencies can you send fundsWe can natively send funds in both USD and EUR, however, if your card is denominated in a different currency, you can still use our service! For example, if your card is denominated in GBP, simply select the USD option on our site. We will send you the USD funds, and your card issuer will automatically convert your funds to GBP. It is that easy! We can send funds to cards issued in any country in the world!How much does it cost?There is a fee of $9 for each USD payment, and €7 for each EUR payment charged by the processor. In addition, there is a percentage fee charge by our company that varies according on how you pay us. For a current list of fees, please visit: https://www.aurumxchange.com/ratesCan I use this as a cheap alternative to wire transfers?YES!! If you send funds to a debit card linked to your bank account (for example, your debit card issued by Chase and linked to your checking account), your funds will be automatically credited to your account! When you think of all the fees involved in international bank wires (such as sending fee, receive fee, intermediary bank fees, etc), this might be an excellent alternative, specially for smaller amounts. What are the minimum and maximum amounts I can send to my card?The minimum amount is $15 for USD payments, and €12 for EUR payments. The maximum is $1,000 and €1,000. PLEASE NOTE: You should NEVER attempt to send more than your card credit limit, if there is one. For example, if your card's purchase limit is $500, do not attempt to send more than that to your card, or some delays might occur. Can I cash out other electronic currencies by this method as well?YES! Anything that we accept, you can cash out to your card! Some electronic currencies we work with are: Liberty Reserve, PerfectMoney, Pecunix, CosmicPay, HD-Money, and C-Gold. Where can I learn more?Please check our knowledge base for more information: https://www.aurumxchange.com/help/knowledgebase.php?category=7If you have any questions or comments, please feel free to post on this thread or open a support ticket on our website. Thank you! The AurumXchange Company Can someone explain what has changed to allow this to be possible? It sounds like you're somehow able to push payments to a credit card number instead of debiting it. Have Visa/Mastercard changed the rules? Dose this work with otherwise non-reloadable visa/mastercard gift cards? |
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Etlase2
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April 12, 2012, 03:45:13 PM |
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I don't understand what you are complaining. This is unique and hugely needed service. If you think there are too much fees, why don't you offer a competing service?
Personally I don't just care, I only complain if the fees are hidden. Here they are in plain sight.
What, in particular, does this solve? Now the people who mined lots of coins can privately move their wealth back into fiat? It doesn't do anything much for people who bought into bitcoins. I pay 1.5% to buy coins I pay 1.5% to sell coins I pay 3%+$9 to cash out mtgoxUSD So 6%+ for what, being back where you started? Or making a payment to someone? This'll make waves |
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Aggro (OP)
Donator
Sr. Member
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Activity: 296
Merit: 250
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April 12, 2012, 03:49:07 PM |
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Dear Bitcoiners, We are very excited to announce a new service that will revolutionize how you get your funds for your traded Bitcoins! Announcing: Withdraw2CardWhat is it?Withdraw2card allows you to sell your Bitcoins and receive your funds on a debit or credit card you already own! Works with any credit/debit card in the world, denominated in any currency! How does it work?You sell your Bitcoins at the exchanger of your preference (currently supported: MtGox, BTC-e, CryptoXchange, and Bitcoinica). You withdraw your funds by a redeemable code. You use this code on our website to order a payment to your debit/credit card. How long does it takes to get the funds?We send the funds instantly and your bank credits the amount within 1 to 4 business days (with 85% of customers getting the funds within 2 to 3 business days). Which credit cards are supported?Works with Visa, MasterCard, Amex, Diners, JB and many other major networks. In which currencies can you send fundsWe can natively send funds in both USD and EUR, however, if your card is denominated in a different currency, you can still use our service! For example, if your card is denominated in GBP, simply select the USD option on our site. We will send you the USD funds, and your card issuer will automatically convert your funds to GBP. It is that easy! We can send funds to cards issued in any country in the world!How much does it cost?There is a fee of $9 for each USD payment, and €7 for each EUR payment charged by the processor. In addition, there is a percentage fee charge by our company that varies according on how you pay us. For a current list of fees, please visit: https://www.aurumxchange.com/ratesCan I use this as a cheap alternative to wire transfers?YES!! If you send funds to a debit card linked to your bank account (for example, your debit card issued by Chase and linked to your checking account), your funds will be automatically credited to your account! When you think of all the fees involved in international bank wires (such as sending fee, receive fee, intermediary bank fees, etc), this might be an excellent alternative, specially for smaller amounts. What are the minimum and maximum amounts I can send to my card?The minimum amount is $15 for USD payments, and €12 for EUR payments. The maximum is $1,000 and €1,000. PLEASE NOTE: You should NEVER attempt to send more than your card credit limit, if there is one. For example, if your card's purchase limit is $500, do not attempt to send more than that to your card, or some delays might occur. Can I cash out other electronic currencies by this method as well?YES! Anything that we accept, you can cash out to your card! Some electronic currencies we work with are: Liberty Reserve, PerfectMoney, Pecunix, CosmicPay, HD-Money, and C-Gold. Where can I learn more?Please check our knowledge base for more information: https://www.aurumxchange.com/help/knowledgebase.php?category=7If you have any questions or comments, please feel free to post on this thread or open a support ticket on our website. Thank you! The AurumXchange Company Can someone explain what has changed to allow this to be possible? It sounds like you're somehow able to push payments to a credit card number instead of debiting it. Have Visa/Mastercard changed the rules? Dose this work with otherwise non-reloadable visa/mastercard gift cards? Hello, This is a somehow new feature for credit card companies. In fact, I believe only 4 companies in the world have been licensed for this so far. Gift cards are an interesting question. We have tried with some, and most of them have worked, even if they are not reloadable  , however, you need to load up to the amount the original giftcard was for, and not a peni more. Some of them did not work. We tried 5 from different brands and 4 of them worked, but the one that didn't might have been a problem with the card itself. We will continue testing and we will see. We are planning also to release soon a VCC (Virtual credit card) which is completely anonymous and can be registered at any name for online shopping. These will be delivered instantly by email, and will function more or less like a gift card, but with the ability to reload them. Thanks Roberto |
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bitdragon
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April 12, 2012, 04:21:08 PM |
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Paxum had this feature and then disabled mtgox/bitcoin completely... They had rules that only ones own card could be funded, is this the case here too? [just re-read and you confirm this in your post....] "do not attempt to send more than [card limit] to your card" Sorry for maybe a naive question: I can only put funds on my card if I have an outstanding balance with them? Or I can put funds on my card up to the level of my spending limit? or each transfer to the card cannot be higher than the card limit? The 1K ceiling is there to ensure sufficient fees are generated or is this a limit imposed by someone else? And the Credit Card company doesn't charge for this other than a horrible exchange rate from USD? I would like an easy way to monthly pay off my CC bill through the sale of Bitcoins. And to have it automated would rock; through the services of my humble outsourcer for a start Thank you, |
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davout
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April 12, 2012, 04:36:17 PM |
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This is a somehow new feature for credit card companies. In fact, I believe only 4 companies in the world have been licensed for this so far.
I work in the same building as some experts in the payment industry, I have asked them this question : "Is it possible to credit a credit/debit card with an arbitrary amount ?" The answer was clear : "No, unless it is a prepaid credit card. The only way to credit a card is to make a refund of a previous payment that got authorized and then captured" So my question is : do you have an independent source or reference mentioning this "new feature" ? Thank you! |
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btcinstant
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April 12, 2012, 04:48:41 PM |
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We do instant CC's to your email in exchange for bitcoins (see signature). Interesting to see this all taking off!
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MacRohard
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April 12, 2012, 05:21:24 PM |
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I don't understand what you are complaining. This is unique and hugely needed service. If you think there are too much fees, why don't you offer a competing service?
Personally I don't just care, I only complain if the fees are hidden. Here they are in plain sight.
What, in particular, does this solve? Now the people who mined lots of coins can privately move their wealth back into fiat? It doesn't do anything much for people who bought into bitcoins. I pay 1.5% to buy coins I pay 1.5% to sell coins I pay 3%+$9 to cash out mtgoxUSD So 6%+ for what, being back where you started? Or making a payment to someone? This'll make waves For general exchange withdrawls probably not so useful in markets where other deposit/withdrawl methods are readily available (eg: dwolla in the us, intersango in the uk etc). For people in other parts of the world it does seem like a competitive way to get money out of the exchanges (given that their only other alternative is a wire transfer). There is also the aspect that it allows people to operate completely anonymously. Purveyors of silk products and road builders that accept bitcoin will be able to withdraw their profits in cash to pay their suppliers without divulging their identities. |
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kangasbros
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April 12, 2012, 10:08:48 PM |
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What, in particular, does this solve? Now the people who mined lots of coins can privately move their wealth back into fiat? It doesn't do anything much for people who bought into bitcoins.
I pay 1.5% to buy coins
I pay 1.5% to sell coins
I pay 3%+$9 to cash out mtgoxUSD
So 6%+ for what, being back where you started? Or making a payment to someone? This'll make waves
Well, it doesn't seem to be a service for you, but it doesn't mean that it is useless. There may be some customers for some other reasons (easy to use etc). I don't understand the negative attitude towards the new bitcoin-related services. More services=more choices=more competition and eventually lower fees. |
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Etlase2
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April 12, 2012, 10:47:42 PM |
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Well, it doesn't seem to be a service for you, but it doesn't mean that it is useless. There may be some customers for some other reasons (easy to use etc).
I don't understand the negative attitude towards the new bitcoin-related services. More services=more choices=more competition and eventually lower fees.
lol you've got to say "bitcoin-related" because it's not a bitcoin service, it's a usd/gbp/eur service. God forbid a company actually take the risk of transacting in bitcoins. Not that I'm blaming Aurum, it is a big risk. whatever, it's cool and all, but I don't really see any value-add to the bitcoin community except for black market stuff which doesn't add any value to bitcoin for the common person. certainly not "hugely needed" imo |
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finway
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April 13, 2012, 02:24:45 AM |
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This is good service! Thank you for your contribution.
I'll try to use aurumxchange.
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Serge
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Merit: 1000
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April 13, 2012, 02:41:03 AM |
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1. can Paxum, Paypal, Payoneer cards and other similar services be loaded this way?
2. what will be shown in a transaction log/statement in account which receives such payment?
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Cosbycoin
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April 13, 2012, 02:43:08 AM |
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Yay! I can still wait just as long as it takes to send money between Dwolla and my bank and pay more fees!
Sounds like a deal!
LOL
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Aggro (OP)
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April 13, 2012, 03:49:43 AM |
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1. can Paxum, Paypal, Payoneer cards and other similar services be loaded this way?
2. what will be shown in a transaction log/statement in account which receives such payment?
1. Yes. Virtually any Credit/debit card in the world (VISA/MC/AMEX/etc). 2. The statement will show "AURUMX", and your order number. Some issuers will interpret the credit as a "refund" (like when you return something and you get credit back on your card) and will add that message to the statement. |
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gamer4156
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April 13, 2012, 03:56:33 AM |
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Amazing service, once I get my cooling situation settled and my cards back online I will definitely use this!
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