Black Friday for Europeans: VISA Europe has directed the debit card issuer WaveCrest Holdings Ltd to suspend all Bitcoin cards issued by them. All funds on the Debit cards are frozen and need to be manually released by filling out forms and hoping for the best.
Here is the official email I have receided this morning:
Yesterday our Bitwala Card issuer WaveCrest Holdings Ltd received direction from Visa Europe to immediately suspend all Bitwala cards effective immediately. Unfortunately, neither Visa nor WaveCrest were able to provide us or you with more time to prepare for this announcement.Our team has been working very closely from the time of the announcement until now with Wavecrest to provide you with the most up to date information possible.
What this means for you
Your Bitwala card is now deactivated and you will not be able to use it for further payments or withdrawals. This affects both physical and virtual cards.
What happens to your funds?
Bitwala has been assured that all affected users will get a refund for their card balance and any outstanding card top-ups directly into their bank account.
To receive a refund
- Please fill in this form
- Send it to [email protected] with the subject of “Bitwala Card Refund”
For those of you who have ordered your card recently, we agree that it's unfair that you haven't had more time to use it. Therefore, we will be issuing refunds for the card order fee to all users who ordered it on or after 1 December 2017.However, at the moment we are unable to specify how long refunds will take. We appreciate your patience as we respond to this situation.
What is Bitwala doing next?
The Bitwala Debit Card remains one of the pillars of our service and we will make it again part of our product offering. Ever since we announced our vision, we have been approached by a number of alternative card issuers and we are already in discussions to bring a solution in the near future.
We want to sincerely thank you for using our card. We are disappointed that we can’t serve you anymore and that the change came so quickly. As part of our commitment to you, we will send you an email once the Bitwala card becomes available again. We hope that in the meantime you will continue being part of the revolution and make the most of Bitwala’s Blockchain Banking and Bitcoin wallet.
What Does That Mean For Europe?
We still need more information who is affected by this and how far the implications of this go. I found a list of companies who had to close their Bitcoin debit cards:
- Xapo
- Bitwala
- TenX (old cards only)
- Wirex
- Cryptopay
As an owner of the BitWala card I am affected personally. Right now I have now way to access my crypto earnings anymore.
However, as annyoing and scary as it sounds it seems that this has something to do with the license of WestCrest Holdings Ltd. There are enough other card issuers in Europe and comapnies will switch to them asap. hence, it is not a big European conspiracy towards Bitcoin & co. but rather some minor issue with this specific card issuer.
I hope that all Steemians affected by that can find a good alternative soon. Let me know in the comments what alternatives you have found to replace your debit cards. (I will not consider a US issued card)
Hi all, Wirex community manager here. A quick update on the card situation:
Yesterday,one of our partners who provides the entire Crypto Industry with VISA prepaid debit cards, received direction from VISA to immediately close all accounts.
Unfortunately, we were given little notice by the supplier to prepare for this change.
We’d like to assure you that all your funds are safe and that they will be moved from your blocked VISA cards to your Wirex accounts ASAP. Additional information in regards to the refund procedure will be emailed to all our users within the next few days.
What we are doing about it
We have been working with a new card issuer for the last couple of months and are very close to being able to release our new cards. As part of this changeover, our new card issuer will provide free replacements to all users who already have cards.
You’ll still be able to buy bitcoin using your local bank card and we will be increasing daily limits until we release new cards.
Register for the live webinar for a full update:
https://events.genndi.com/register/169105139238466377/d2675c1372
I am angry, I got the card 2 days earlier from you.
I am glad to see that you handle this problem with transparency and effort.
Choose the next card issuer carefully, I don't want to read that the next card is closed. Do business with grown up people and not unprofessional children otherwise your reputation will be completely destroyed.
I absolutely understand and sympathize with you.
We are doing our utmost to handle this situation completely transparently with our community, and please be assured that if your card was ordered after the 1st of December you will be refunded.
We are working on the solution and will bring you more news soon.
I already wrote the support 2 times and the support told me I won't get a refund because I get the next card for free.
Screenshot: https://imgsafe.org/image/7b1f166129
You clearly need to work on your communication, you guys have hidden that you get a refund but you will have to buy the next card.
How are people going to trust you like that? The people are already super careful because of scams and when your support writes something else than you do then you are going to look like a scam as well.
Yes we get a refund but we then have to pay for the next card.
I am cool with that, but please add that instead of just saying "refund" and besides that I got no notification that it is even possible (even tho you guys said you will notify the customers about that possibility!).
I don't feel well anymore about giving you guys my money.
Sorry for the inconvenience caused; people that purchased their card after Dec 1st; will get a full refund . People that purchased a card before then, will get a free card.
Can Visa in the U.S. be far behind? I have not bought any crypto from Coinbase for at least a month now, but when I did, it was with a Visa card.
Cryptocurrency has come to stay and nobody can stop it.
Good post you.. @flauwy
OMG Its not good! Why this rool made
Sad. Bitcoin is slowly losing it's touch. :/
Bans after Bans !
I salute you bro..I watch your your YouTube vedios..you are just great man
awesome post @flauwy
this is something new to me, let me check it out..
Grrrr that sucks big time. I just ordered my wirex card. Now i will have to find a solution. On the email i got wirex said they were trying to solve the problem.
ohh thanx GOD i have no any card like this and hope you all get back your all @flauwy ,,,is this from agencies attacks or goverments involment?
Saw first thing today trending on Hacker News. So I figured it was a serious situation. I wonder what happened. I actually use my Bit pay card quite a bit. Hope I don't get that surprise as well lol
oooooops! I don't understand their logic to close the
May be Bankers involved in this whole scenario at the backstage. @flauwy
it's so complicated..
that's not good,
What a bad one😔 I hope this can get resolved ASAP. Thanks for the info!
https://www.epayments.com/
do you use it??? do you have a master card by them?? If so, how is it??
I use UQUID plastic card (master card)
I applied for one yesterday, waiting for verification process. But I have friends whonuse it and its pretty straightforward.
then I'm going to apply as well,
do you know how may types of cryptos do they accept??
Not yet, but one is enough right? I am sure about bitcoin, dunno about others.
How is UQUID?
good thing about them, it's the fact that they accept all kind of cryptos, even bitconnect and steem dollars
Thanks for the info @heremonium
latest update
they are closing mastercards as well,
f...... the banks
UQUID is master card. it is good actually, but their verification time for a gold useris soooooo long
I was just think I make Bitwala cart... and then boom... this :)))
Sad,why bitcoin losing value
I think this will be continue to be a problem, and may lead to serious roadblocks in widespread crypto acceptance. Unless the conversion to fiat currencies become smooth and dependable, consumer confidence will fluctuate. With many govts starting to take notice, we will have to see where all of this goes
100% Agree
Crypto has no worth if you can not cash it out.
it will just be digits on a website.
I got like 11 different emails about this and all of them went into my spam folder.
Am I affected? How in the world should I know? - I have bitpay card and didn't think I would be affected by this, but due to all the emails I've got, I start to believe I might be screwed as well!?
how is the bitpay card??
Screw that type of censorship. Give people the POWER!!!!
Wow that is really bad News for all the Crypto Card Holders and Issuers.
But like always there will be a better solution in the future so probably good time to wait and buy the dip!!!
oh no this is very bad news today
thanks for the info! so does this mean there is no possibility to attain a card at the moment?
This has just hit one of many card issuers. Bitwala and Wirex are getting new partners soon who will then issue their cards. Just a little hick-up.