Crackdown on crypto debit card continues - Mastercards by Advcash (and probably others) to be revoked

in cryptocurrency •  7 months ago

When Visa revoked the license from WaveCrest in the beginning of the month, thus rendering basically all european bitcoin debit cards useless, there was a small light left in the dark. Someone just turned that one off, too.

mccut.jpg

Dear Cardholder,

We regret to inform you that from the 27 February 2018, we will no longer be able to service your MyChoice Prepaid Debit Card.  

You should, therefore, use up or remove any balance on your card before that date. We will block the loading of new funds to your card effective immediately to help avoid any balance remaining on your card. You will be able to request that any remaining balance on your card after 27 February 2018 be refunded to you in line with the Cardholder Agreement.  

Unverified cards must be verified in order to be eligible for a refund. Please note that any funds that remain on your account after this date will continue to be subject to the terms of the Cardholder Agreement (other than as set out in this email).  You can find the Cardholder Terms here.

Please also note that we have taken the decision to set new daily ATM limits to EUR 1000/USD 1000/GBP 800 for transaction inside the SEPA region; transaction outside of SEPA will be limited to EUR 500/USD 500/GBP 400.

We apologize for any inconvenience caused. If you have any questions, please contact us at support15@mychoicecorporate.com.

 

Kind regards, 
WaveCrest

tl;dr: Advcash (and probably other) Mastercards in the EU will be canceled on February 27th, ATM limits have been lowered to EUR 1000/USD 1000/GBP 800 inside the SEPA zone and half outside until then.

I really hope we're offered new options soon. Do you know any debit cards that will still work after the date?

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It is sad that this is happening. What we need is someone to basically create a blockchain version of visa and get retailers to adopt it. Banks do not want to lose control to cryptos so im sure they have been putting the squeeze on visa to drop cryptocurrency debit cards.

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I upvoted your comment because of where you live, was just in Puerto Morelos and now back in the snow....brought back good memories.

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Thanks for the upvote! Ill be in puerto Morelos tomorrow at my friends cafe Aarom. Lovely little town.

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puerto morelos is such a beautiful little place ;9)

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Thank's, this post was benefit knowladge for me.

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I agree with you, it's really sad ... Because Bitcoin has been the economy that has allowed many people to get ahead, or at least better their economic situation ...

I wish that the people who have the means, are ingenien a solution where we can all benefit!

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Once governments crack down we’ll be back at $1500 and have to start fresh from there. We can do it 👍 but even with lightening it won’t be easy

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Found this a little bit late, but totaly agree.
If they lose the control of the money, they lose there power.

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But it will affect the platform to a great deal. It's really saddening.

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I'm affraid you're totally wright @donnaincancun. The legal criminals (governments/banks/media) are dominated by the 1% elite who don't want to lose control. And crypto is definetely a new way of living that liberated us from this control. But one thing is for sure. Crypto is becoming too big to stop.
No matter how it develops. It is waiting until someone has found a solution to pay with a crypto card. And what you propose is a possible solution (I think)

Glad I discontinued the steemdebitcard project back in the days (based on WaveCrest service), to build @busy.org with fabien.

met some TenX guys in SG last week, heard they're working on great solutions, I think it will take some months before we can see new / solid Debit Card services again on the scene.

We can learn a lot from this experience and will consider afterward building our own service or partnership with a card provider for Steem/Busy

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Hey man! I just want to say you guys did a great job with busy.org! I've been trying to get my friend @artfulwanderer to actually interact with Steem and your interface appealed to her!

Good work there!

This sounds like it could go somewhere. Appears to be an Asian outfit looking to launch globally.
https://www.mona.co/

They are plugging the exit ramps, and probably the entry ramps as well. We need to depend on each other to exchange crypto for fiat, and vice versa. And upon that note, putting my money where my mouth is, I wouldn't mind buying some more steem. Anybody?

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I’ll trade for Ethereum or Bcash or litecoin. I’d say bitcoin but fees could be high ? I’ll have more steem Thursday

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I don't have too much of any of the above.

Bad news for crypto lovers. I hope this issue is resolved and we get other top providers for crypto debit cards...I am head of a project in that segment (see details in my posts) and crypto debit cards will be a big success-feel free to join the vibe...Good post, upped.

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Oh no :( I only just seen all this im New to crypto and thought this was a viable option until now and was going to order a debit card. Feel totally depressed. Does anyone know why these crypto debit cards are still letting people order the. Without knowledge of this? Will we still be able to use the online account version of these cards to then exchange bitcoins to our local currency accounts?

Great post. Upvoted and resteemed. What they don't understand yet, is that they are going to FUCK RIGHT OFF... We are coming!

I know that TenX are working hard to work after that date. I ordered a credit card from them few days before Visa announced the bad news, so It got canceled. But I know that they are working to fix it and make their own

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Well, of course all of them are...

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yeah the question is like who will be fast and can offer a working secure card... I also would like to have my TenX card working again ^^
I follow, read and watch almost every video of @julianhosp and TenX and they will handle this quite good and fast, I am sure. Now, we just to need patient and collect without spending ;D

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Looks like it’s not gonna nba happen

I really searched hard :/ seems like there isn't any other option - only prepaid cards :(

edit: found that one:
https://wirexapp.com/card/

edit: it's also based on mastercard.
sorry :(

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Wirex used Visa, they're down since January 5th

Check against any card provider by googling "cardname Wavecrest", if they're issued by them they're gone.

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All visa will be gone

I really get sad to hear that :(

I know, I have the same problem, I had two Visa cards that I used and both are not working right now, I'm searching for a new solution but all other cards look really shady or they take a lot for fees.
Right now I'm changing bitcoin through local bitcoin exchange.
So if you find a card, please let me know!
Thanks!

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Any cards claiming they can go on is a Scam or misinformed. It’s banned in most nations now

This will surely be bad for crypto's like TenX.

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That’s what happens when Cryptos use centralized systems that they were started to end!

Mastercards in the EU will be canceled on February 27th, ATM limits have been lowered to EUR 1000/USD 1000/GBP 800 inside the SEPA zone and half outside until then.

The government, banks and big powerful organisations can keep trying all they can to clampdown on crypto, censor it and make it more centralized. But one thing is certain the people are the ones with the real power and they'll always come up with a solution to this.

The strength of the people will always prevail.
Mastercard can go kiss their asses cus they'll always be a new solution to every problem.

Just keep watching cus the blockchain revolution is real

I wonder what all these "creditcard crypto" are going to do, allot of them are still going, it may take a long time before they bring out new cards.

Also allot of people ordered cards that are now useless, they may want there next card to be free.

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There won’t be any new cards
No Bank will issue them

Very bad news for Bitcoin users, because Visa and MasterCard are the vanguards of payment systems and the fact that they are disconnected from Bitcoin is very sad! But perhaps this is not a problem, even if these payment systems are not directly accepted by Bitcoin, we can easily cash it to the Euro or Dollars by using exchange offices on the Internet and also to receive Fiat at ATMs all through Visa and MС, although the commission there will not be much more. So this problem can be circumvented! Thank you @pharesim

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the system is trying to start and lock crypto out, they are not playing games anymore !@!

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And bitcoin was started to go around all there systems , Ant crypto that Needs the banking system is a failure

iki wis dipengaruhi variasi cryptocurrencies, uga kabar ala saka pemerintah Korea Selatan

I know Revolut added Cryptocurrencies to their service: https://blog.revolut.com/what-you-really-need-to-know-about-revolut-crypto-rates/

Unfortunately I think you can only buy/sell on their service, and not send/receive crypto yet (silly) - but that feature has to be around the corner. Might be worth getting an account setup for when they do add the feature.

I haven't used their Crypto feature, but I've used Revolut quite a bit when travelling because they exchange fiat at market rates at time of purchase.

That is sad news indeed, I guess they're not ready for the future yet :S

I am struggling to understand why they would revoke it and mandate people to clear their balance. What's happening please? Wish i know from reading any other cards that would work after the due date. I keep learning everyday.

Currency is numbers and numbers never end. If it takes currency to be powerful, your search for power will never end. @pharesim thanks for shareing crypto &debitcard really interesting

                             RESTEEM DONE SIR

It may be worth looking at coinjar.com. They seem to run over EFTPOS and are independant of VESA or Mastercard. Australian startup but seem to be trying to break into Europe as well.

I can't vouch for them as I haven't signed up.. yet.

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EFTPOS is only in Australia though BMJ, so the cards are not helpful if you don't live there. It's like Clave and Panama. Not useful anywhere else.

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I read this on their page so thaught they may habe something going in the European market:

European clearing and billing services are handled by CoinJar UK Limited, 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ (UKCo. number 8905988)

Perhaps they have a European equivolent of EFTPOS? They say worldwide...

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Ah... something Aus is ahead of the game in... wonder if they'll go global sometime soon. The demand is there for sure

Bad news ! It would be best if there any card and settlement network for crypto currency like VISA does for Physical money .

This isn't goodnews at all. I hope they will do something about this or a new options will come out. Such regulations isn't really good for the market.

cryotos are future and you are a great heart @pharesim

Think it has anything to do with the Franco/German “analysis” on BTC?

I heard they are supposed to speak on BTC at g20.

All plastic and virtual cards will be reissued for free after we implement the card platform from our new provider which is about to happen soon.

They will get new partners soon from the announcement and they will reissue new cards for free at their clients. Uped and re-steemed.

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that would be great news

Sad for anyone who uses bitcoin.

In Latin America we are the same, but I think there are other options that are appearing ..

Fuck me! More bad news for crypto. I was actually thinking about getting a crypto card. I'll have to look up if any are still active here.

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there is a new ico cald likium! they deploy a payment gateway where users can purchase products from their favorite online stores and make payment with Likium (LKM) Coin .easily by using one-click payment feature.and debit card! a made a post @crypto-puppet .

Buy the dip and HODL.

Government is fighting hard against the cryptocurrency, why will they not give the money back to the people?

here comes the moneymoneymoneymoney

@pharesim Screw VISA and MASTERCARD the Globalist Tools that they are !!

This is a bad news. Wish to fullfil the requirements of the bitcoin debit card which is no more allowed..

Wagecan? https://wagecan.com/

Although their card is a rip off costing $212.50

Payeer and other crossborder prepaid Visa/Mastercard have been affected.....

thanks. have a nice day

Billion of dollars are involved in cryptocurrency, is it really possible to windup this digital system of e currencies?

Omg, I guess they are doing everything to make life for cryptopeople as difficult as possible!

It's really irritating that governments keep squeezing crypto left and right. I understand that crime is a problem regarding anonymous currency. However, it seems just that they want fiat and its archaic system to remain in place.

For real ?
Is it really necessary to do that ?

Perhaps this is good news in the long run. Let Visa and Mastercard step aside so a new and better blockchain based competitor can step in and take their market share. Highly inconvenient for now though.

Thank you for the info!! I have buy this card since capital control where here in Greece and we could not use Paypall too!

but can bank transfers be made from advcash to the bank? or not?

wo sorry very bad .

there is a new ico cald likium! they deploy a payment gateway where users can purchase products from their favorite online stores and make payment with Likium (LKM) Coin .easily by using one-click payment feature.and debit card! a made a post @crypto-puppet .

What is needed is a new 'add-on' payment processor that will work with existing merchant accounts alongside Visa and MasterCard that is just for cryptocurrency backed card providers and allow the existing equipment to function with a new card brand.
Surely one of the 'Card Associations' or 'Acquiring Banks' could resolve this on an international level?
The acquiring bank could also hedge any drop in crypto value now that option contracts are available (limited to Bitcoin atm). They could also benefit on upside gains during batch processing delays (This may become the Lighting or Raiden Network equivalent, except without delay).
With the mathematics figured out, this could potentially be worth far more than the current use of processing fees.
What exactly are the technical and legal difficulties to overcome and actually implement this new payment gateway?

Yes, even AdvCash - The Bangsters are striking back.

The parasites of society - Fiat slavery.

Its so ridiculous that this happened. I haven't found any alternatives like that, but there are those visa gift cards you can buy with Steem now that are pretty reasonable.

Until today I had no idea people even had crypto debit/credit cards. I am assuming major companies are revoking the cards due to chargebacks and returns. It will be interesting to see how this plays out over the long-term.

We're looking into options right now ourselves. It would be so great to be able to withdraw during our travels. I just signed up for TenX hope they'll stay around. Otherwise maybe transfer crypto to the Neteller card ... but I don't like all the fees until you actually hold cash in your hands.

I don't know much about this company, so it would need to be researched, but here is their claim:

The Safest and Most Flexible Way to Own Bitcoin

The Goldmoney Holding offers a unique way to buy and sell bitcoin that provides unmatched security along with flexibility to store and spend more easily. Whether you’re looking to gain safe exposure to the world of cryptocurrencies or exploring a trusted way to start a position in bitcoin, a Holding offers the most flexible and secure way to own bitcoin.

I heard about them as a way to "own" gold and have a debit card so one could "spend" gold. Now they are accepting bitcoin. Hope this helps :-)

https://www.goldmoney.com/holding-cryptocurrencies

This is most uncomfortable !! Here in the states I don't even know if there is an option for altcurrency debit card - the people I've met just keep a mobile wallet with them for transacting... Which, works terribly and slowly from what I've seen and if someone mugged you....
Anyways, I came here because you've been upvoting my poetry and it means a lot to me to see the huge boost you give to my content and thereby motivation !!
Thank you for helping me get my steem train rollin :D @lonestarpoet

As I am reading this post and the comments below I hope there are some alternatives that can soon come up. It would be very convinient specially when travelling. I dont know in India when these kind of services will get implemented cause as of now there is absolutely no sign of it

hello my dear friend @pharesim
i love your writing
It is really good the way you are giving a good message to the world. thank you for sharing with us,, good job keep it up,,

thanks for the update :)

Congratulations @pharesim, this post is the fifth most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 48 and the total pending payments to posts in these categories was $4229.79. To see the full list of highest paid posts across all accounts categories, click here.

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Cryptocurrency growes up more and more it kills the cards
Plus fees cards are too high

Vote back once yes

Is it governmental pressure thats making this happen or central banks or both? Visa can't be too happy with the prospect of what crypto offers. Are they just trying to squeeze the competition or defacto ban it?

Mass adoption hurry up so we are not dependent on these outdated modes of finance!

Nice post. Check Centra they claim that their card is still working.

Bad news for them who are investing time and money in cryptocurrency. Hope that someone (company) will come forward and make some alternative for us.

For newbies: Giving a fractional upvote when your SP is below 500

Thank you for this post. Unfortunately, i can not answer on your questions...I hope too that will appear some new options.

We are going from bad to worse, they do not know what to do to damage the bitcoin and the cryptocurrencies, canceled cards, South Korea and China damaging their policies against exchanges

Openledger is planning to launch www.ocash.io
But this news might also impact that project.

with all this drama around cryptocurrency I am very curious to know the future of this technology/currency?

Do you think cryptocurrency will eventually find some value stability? Will the plotics around cryptocurrencies end anytime soon? I hope to see that day.

Hi @pharesim
I have created an entry
Do you have Dollar or Euro on your wallet in your ADVCash,

Then you have an opportunity to Transfers to international Visa and Mastercard cards.

Hope it can help those who have money on Wallet

https://steemit.com/advcash/@xpilar/advcash-closure-of-the-wave-crest-card-program-part-from-xpilar

why does this happen, is there a special change with the credit card? I hope who holds the card can immediately follow this information.

Post helpful, please visit my blog if there is time

How debit cards work after the date, @pharesim?

Have you found any working card for crypto? I am looking for it but haven't found one :(

I just received that e-mail aswell. Would this apply to both the plastic and the virtual card from Advcash?

I'm really sad about this, because for now, it was the best way for me to access any of my Steemit earnings for use in the real world :-(

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Yes, the virtual cards are affected too

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What a shame that is. I hope there'll be other viable options soon. They only other place I know that accepts bitcoin as payment is the place where I can order food online.

Good info for that mr. @pharesim

Wirex ha aperto una lista d'attesa x le nuove carte di credito,qualcosa si sta muovendo ,speriamo nella direzione giusta.Avevano detto che le sostituzioni sarebbero state gratuite ma a quanto pare non lo sono. Solo la carta virtuale è segnalata come tale.Screenshot_2018-03-04-09-39-16.png

Excellent information, I usually use uphold, but I do not know what opinion you deserve that platform, I would like you to guide me about it.

Keep the good work 👍

I think they they are afraid that they're going to have to take losses because of the current volatility. They may offer them again if things can settle down for a bit but the sentiment right now is very iffy.

Does anyone know why the credit cards got revoked? Some new government rule? Thanks.

Very unfortunate, and it reflects badly on Visa.

ohh woww good inf follow now

very sad at the moment for the closing of AdvCash cards from WaveCrest company. but i hope another better way will be there soon. Now no one can Stop the hype of cryptocurrency by using these kind of stupid games.

Hi. I liked your post, keep it up. I wish you good luck and have a good day, and of course you can also get a big jackpot :)

Steem will have its breakout any day...
Smart media tokens
Millions of users incoming
Strong word to mouth community
More ways to burn steem
what about the theme, whether one day one theme such as colorchallenge, thanks

Well that's a bad news for bitcoin holders I guess.. I think @jerrybanfield is working on a project.. Though its not replacement of these debit cards but still worth a look.
https://steemit.com/budget/@jerrybanfield/hiring-1-developer-to-build-a-p2p-steem-usd-gateway

It is tragic this is going on. What we require is somebody to essentially make a blockchain rendition of visa and inspire retailers to embrace it. Banks would prefer not to lose control to cryptos so im beyond any doubt they have been putting the crush on visa to drop digital currency charge cards.

greetings from community steemit indonesia @pharesim good job

all of your post is very good.but I am extremely sorry @pharesim because I do not know about it.but I hope obviously anyone will know and they will tell you.upvote and resteem done.

good post, I left you a vote, I invite you to review my last openmic post
https://steemit.com/openmic/@misc.jocs/steemit-open-mic-week-69-vive-en-mi-coalo-zamorano-cover

veryy good

I think that in 2018 there will be many more attempts from States and banks to break the spirit of those who believe in cryptocurrencies. They can't accept that universal prosperity of ordinary people. In my country ( Russia) are developing a law that may prohibit ordinary citizens to produce and to trade crypto. Such a possibility will be given only to officials. Ha ha. It's even funny if it were not so sad. And then the authorities wonder why so many people leave for permanent residence in other countries. Because we just want to be people, a free people; a people whose rights are not oppressed.

Interesting article! :)

very good

good post, I left you a vote, I invite you to review my last openmic post
https://steemit.com/openmic/@misc.jocs/steemit-open-mic-week-69-vive-en-mi-coalo-zamorano-cover

I read about a nice card or I heard it on @boxmining 's channel. Not sure anymore... :/

Hay sahabat steem
Upvote aku ya

This, combined with the fact that almost every exchange now requires you to have a verified account to do basically anything, is a serious problem I'm having with crypto these days. I've been spending the last few weeks trying to find some sort of solution but so far I've got nothing. It's more than a little disheartening and very disconcerting.

One possible solution to crypto debit cards I've seen is services that accept crypto in exchange for gift cards. I've seen a post recently about a service that accepts steem as payment. I'm going to look for that post now, I'll edit this comment when I find it.

[edit] Here's a link to the post I was talking about: https://steemit.com/steemdev/@steemgiftcards/exchange-your-steem-and-sbd-for-a-steem-visa-r-gift-card-and-other-egifts

And here's a link to a post by @aggroed about his experience using the service: https://steemit.com/steem/@aggroed/steem-giftcards-successful-purchase

Thanks for sharing @pharesim

Very interesting artikl

agree with you