Bitwala - Blockchain Banking

[bitwala]

I have a question about possible tax payment when I use your service in EU countries.When I order Bitwala Prepaid Debit Card(physical) and use that card for ATMs withdraw or payment via POS is that visibly to every tax office in EU?

Second question is regarding card verification as I see you have level 2 user which have unlimited lifitime card,is there option to use card without verification and what limits are in that case?For verification you ask passport,can it be ID card which is used to travel between all the EU countries?

Hi Lucius,
We do not send payment information automatically to any tax office (or police). If the police or tax office should ask us directly about the information of individual users for ongoing investigations we would have to comply with the laws in Germany and EU laws.

You can find all the relevant information regarding level 2 verification here https://help.bitwala.com/general-information-and-account-verification/what-documents-do-i-need-to-submit-for-verification.

From December 2017 unverified cards will have a €200 lifetime limit. At the moment it is €2500, but you would have to get in contact with support@bitwala.com for this.

Best regards

Robert @Bitwala

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[micaxel]

Hi, i only get the lvl2 verf. with the passport not with my location.
I upload a new picture, how long do i need to wait for verf.

thx

[bitwala]

Hi, i only get the lvl2 verf. with the passport not with my location.
I upload a new picture, how long do i need to wait for verf.

thx

Hi Micaxel,
Sorry, but I don't understand the issue you are experiencing. "I only get lvl 2 verf. with the passport not with my location." For lvl 2 we need a proof of ID and a proof of address. https://www.bitwala.com/faq-items/identity-verification-requirements/ .

Documents are verified/ checked within 24 hours (in some cases this process can take longer if translations or an additional check is needed).

Best regards,

Robert @Bitwala

[Lucius]

I have a question about possible tax payment when I use your service in EU countries.When I order Bitwala Prepaid Debit Card(physical) and use that card for ATMs withdraw or payment via POS is that visibly to every tax office in EU?

Second question is regarding card verification as I see you have level 2 user which have unlimited lifitime card,is there option to use card without verification and what limits are in that case?For verification you ask passport,can it be ID card which is used to travel between all the EU countries?

Hi Lucius,
We do not send payment information automatically to any tax office (or police). If the police or tax office should ask us directly about the information of individual users for ongoing investigations we would have to comply with the laws in Germany and EU laws.

You can find all the relevant information regarding level 2 verification here https://help.bitwala.com/general-information-and-account-verification/what-documents-do-i-need-to-submit-for-verification.

From December 2017 unverified cards will have a €200 lifetime limit. At the moment it is €2500, but you would have to get in contact with support@bitwala.com for this.

Best regards

Robert @Bitwala

Thanks for the detailed explanation,there is a saying that there are two things in life of which there is no escape-death and tax.It is better to pay the tax immediately,in case tax office discover us after few years we pay taxes and interest.

I know about the EU decision for card limits, it would make sense for unverified cards to have limit 200€ per month,but for lifitime really does not make any sense.In this way EU simply wants all users of such services to be verified.

[bitwala]

Thanks for the detailed explanation,there is a saying that there are two things in life of which there is no escape-death and tax.It is better to pay the tax immediately,in case tax office discover us after few years we pay taxes and interest.

I know about the EU decision for card limits, it would make sense for unverified cards to have limit 200€ per month,but for lifitime really does not make any sense.In this way EU simply wants all users of such services to be verified.

Hi Lucius,

Yes, this is the case. The EU is working hard to crack down on any and all movements of funds where the users have not been verified.

Best regards,

Robert @Bitwala

[onnz423]

Thanks for the detailed explanation,there is a saying that there are two things in life of which there is no escape-death and tax.It is better to pay the tax immediately,in case tax office discover us after few years we pay taxes and interest.

I know about the EU decision for card limits, it would make sense for unverified cards to have limit 200€ per month,but for lifitime really does not make any sense.In this way EU simply wants all users of such services to be verified.

Hi Lucius,

Yes, this is the case. The EU is working hard to crack down on any and all movements of funds where the users have not been verified.

Best regards,

Robert @Bitwala

Would it change if you moved your company to gibraltar where the providing bank is? I've heard that they are pretty tolerable about it. I think you would get alot of customers too if you could provide such a nice service without an ID.

[bitwala]

Would it change if you moved your company to gibraltar where the providing bank is? I've heard that they are pretty tolerable about it. I think you would get alot of customers too if you could provide such a nice service without an ID.

Hi Onnz423,

A very interesting idea but because Visa and Mastercard are "the only" two option for international accepted prepaid cards, it is in their hands to decide what goes and what not. Furthermore, we work and live in Berlin and think Bitwala can only grow through innovating the banking system by utilizing all the benefits of the blockchain technology. This will bring bitcoin and altcoins to the mainstream and change the way we can use cryptocurrencies worldwide. For this, we have to play by the rules.

Best regards,

Robert @Bitwala 

[vanBlack]

Thanks for the detailed explanation,there is a saying that there are two things in life of which there is no escape-death and tax.It is better to pay the tax immediately,in case tax office discover us after few years we pay taxes and interest.

I know about the EU decision for card limits, it would make sense for unverified cards to have limit 200€ per month,but for lifitime really does not make any sense.In this way EU simply wants all users of such services to be verified.

Hi Lucius,

Yes, this is the case. The EU is working hard to crack down on any and all movements of funds where the users have not been verified.

Best regards,

Robert @Bitwala

Would it change if you moved your company to gibraltar where the providing bank is? I've heard that they are pretty tolerable about it. I think you would get alot of customers too if you could provide such a nice service without an ID.

Nice services without ID are usually interesting for people that don't want to play by rules.
Thanks that Bitwala is from another team 

[Granxis]

What are the card fees and service fees? Is there a shipping charge for the card fee? Thanks a lot

[bitwala]

What are the card fees and service fees? Is there a shipping charge for the card fee? Thanks a lot

Hi Granxis,

You can find our fee structure here: https://www.bitwala.com/card/. If you would like to see how our card fees compare with our competitors check this out: https://docs.google.com/spreadsheets/d/1W0p8BSHzpZdY3GCnjH0c2Lhyw1PiSGFlXUokbEIk_9k/edit?usp=sharing. Please be aware that we don't serve US citizens at the moment.

If you have any further question please feel free to post them here.   

Best regards,

Robert @Bitwala

[onnz423]

Hey bitwala team! For some weird reason i did a card top up yesterday, but the invoice expired and the payment didn't get recognized. I guess it will be easy to solve since i have sent a support ticket in with the address i sent money to. Generating a new invoice has worked before for me, although the address changed but payment still got recognized so i hope that it is possible to regain access to those funds

[bitwala]

Hey bitwala team! For some weird reason i did a card top up yesterday, but the invoice expired and the payment didn't get recognized. I guess it will be easy to solve since i have sent a support ticket in with the address i sent money to. Generating a new invoice has worked before for me, although the address changed but payment still got recognized so i hope that it is possible to regain access to those funds

Hi onnz423,

Thank you for sending the support team the relevant info. They will get back to as soon as possible and be assured that your funds are safe and that the shown conversion rate is logged.

Best regards,

Robert @Bitwala

[lycantrop]

Hello Bitwala

Your system accept also transactions on sunday?

Today i tried several times loading my creditcard with Bitcoins in my wallet and system says

"Error decrypting key. Wrong passphrase?"

I used every time the correct passphrase, please let me know if this is an error in system or you just dotn dou transactions on sunday.

many thanks

regards

[Lucius]

Thanks for the detailed explanation,there is a saying that there are two things in life of which there is no escape-death and tax.It is better to pay the tax immediately,in case tax office discover us after few years we pay taxes and interest.

I know about the EU decision for card limits, it would make sense for unverified cards to have limit 200€ per month,but for lifitime really does not make any sense.In this way EU simply wants all users of such services to be verified.

Hi Lucius,

Yes, this is the case. The EU is working hard to crack down on any and all movements of funds where the users have not been verified.

Best regards,

Robert @Bitwala

Would it change if you moved your company to gibraltar where the providing bank is? I've heard that they are pretty tolerable about it. I think you would get alot of customers too if you could provide such a nice service without an ID.

Nice services without ID are usually interesting for people that don't want to play by rules.
Thanks that Bitwala is from another team 

I want to play by the rules but I need to know what are the rules.If you think playing by the rules is to pay 50%+ of your hard earnings to some government full of criminals then I do not want to play by rules and pay tax on my BTC.Living in some normal countries where tax is normal and BTC is not some bad thing is very nice,for some others using such service with ID may be very expensive in terms of tax.

[onnz423]

Bitwala is having problems again with the card loads for me. Anyone else is having this problem?
Mine has been stuck since yesterday night :/

[micaxel]

Hi bitwala,

any FAQ about the tax in germany? Im from germany.
For example: If i buy 1btc at 6000€ and the transfer to the bitwala wallet. After that price increase to 6400€ for 1 btc. Now i do some payouts with my bitwala card. What i need to do? Or is tax include in the system?

thx for the answer.

[bitwala]

Bitwala is having problems again with the card loads for me. Anyone else is having this problem?
Mine has been stuck since yesterday night :/

Hey onnz423,

We have had a higher demand on card top-ups over the weekend than expected. Our team are topping up cards as we speak.

Best regards and my apologies for waiting.

Robert @Bitwala

[lycantrop]

I still cant do any transactions/card top up:

Same error everytime:

"Error decrypting wallet.Wrong password"

My BTC´s are loked, I cant do no transactions!

[bitwala]

Hi bitwala,

any FAQ about the tax in germany? Im from germany.
For example: If i buy 1btc at 6000€ and the transfer to the bitwala wallet. After that price increase to 6400€ for 1 btc. Now i do some payouts with my bitwala card. What i need to do? Or is tax include in the system?

thx for the answer.

Hi micaxel,

Sadly we can't give you any tax advice. I can only recommend you ask your tax advisor.

Best regards,

Robert @Bitwala

[bitwala]

I still cant do any transactions/card top up:

Same error everytime:

"Error decrypting wallet.Wrong password"

My BTC´s are loked, I cant do no transactions!

Hi lycantrop,

Our technical team is having a look. Could you please send me your login email (not your PW) via PM?

Best regards,

Robert @Bitwala