Topic: Bitcoin debit card - page 155. (Read 293872 times)

Hmm, OK, I'll waste (only) a few dollars on this and try it out.
I'm in Australia.
I already use a few methods for doing this - one is a local Gift Card supplier who does it similarly but with a once off balance Debit/Savings Gift Card so I could track him down if anything went wrong, since I have his name and address from the start and he lives in the same state as me (and he's been doing it for a year now)

So ... $1 is ... about 0.0035 BTC at the moment.

So questions:
1) Where would the balance be visible?
2) Who has access to adjust the balance? (up or down)

The $2500 lifetime limit of the card doesn't make it all that great either.

I'm actually not expecting this to pan out - again there is something strange that you can do something that many other companies bigger and well known cannot.

Also wondering why your post history shows a post in russian
(yet you replied to me above 'mate')

here is the full list of card limits, easier to read:


For verification you'll need to send scans of your ID and proof of address - typical stuff.

Verification itself and the increased limits will become available after the public release.

a few have registered and ordered cards. It will now take a few days to receive them, depending on the location. Within EU the official timeframe is 5-10 days, from experience they usually arrive quicker. Outside EU - all depends on the local post service, which in some countries can be rather poor

Domestic means currency related, you are exactly right.


Limits: oh, that would be sweet.. Unfortunately not, KYC defines card lifetime limits as well, apologies for missing that out in FAQ and well spotted - will make sure this is added there, too.

Here is the current full list:

Limits                        Unverified (KYC1)         Verified (KYC2)      
POS                           USD      EUR      GBP      USD      EUR      GBP
Number of purchases         per day      no limit   no limit   no limit   no limit   no limit   no limit
Value of purchases         per day      no limit   no limit   no limit   no limit   no limit   no limit
                     
ATM                     
Number of ATM transactions   per day      no limit   no limit   no limit   no limit   no limit   no limit
Value of ATM withdrawal      per transaction   $200      €200      £160      $600      €600      £400
Value of ATM withdrawal      per day      $400      €400      £320      $1200   €1,000   £800
Maximum ATM withdraw      Lifetime      $1000   €1,000   £800      no limit   no limit   no limit
                     
Loading Rules                     
Max single load                     $500      €500      £400      $10000   €10,000   £8,000
Max daily load                      $500      €500      £400      $20000   €20,000   £16,000
Max lifetime load                  $2500   €2,500   £2,000   no limit   no limit   no limit


The card design: it does not only depend on us, we would be thrilled to get the one shown in the homepage straight away, but there are some limitations imposed by Visa. This is one of the next steps - we are on it.

 
Ok, did someone tried ?

That's great.

From your FAQ:
Domestic means within the UK or is that currency related (e.g. EUR card + EUR cashout = domestic, EUR card + USD cashout = international)?

400 € per day without any verification is huge! This means to withdraw/spend 146,000 € per year allmost anonymous. I can't really believe that this complies with AML/KYC?!

"Verified by Visa" is possible?

In the FAQ you should mention the bank you are connected with.

So, the card is just black? That's a bit boring. You show a great card design on your homepage. Hope this is used soon.

guys, a quick note for those who have ordered the cards: they were supposed to be sent out in new design (the one shown at the top of this thread) as of this week, however, we just received another one in the old design. Having spoken to the card issuer, this should be corrected shortly.
So, don't be surprised if the one you receive happens to look a bit different, it is still the same card, just different print on the front

It's exactly what we had in mind when we started this project, one of the main bitcoins problems is that there is no easy way to spend them/exchange to fiat, so by bringing bitcoins into traditional payment/card infrastructure we are aiming to make bitcoins more popular and liquid

1. Initially Bitstamp, now we plan to have 2 or 3 as none of them seems to be a 100% reliable.
2. The money is stored as FIAT on the card. That's why we do not recommend to store large amounts on the card, you can store them in BTC and upload FIAT when needed (there will be a mobile app soon). Once the full integration is complete (February - March), you will be able to store money in BTC on the card as well.

Regarding banking:
At the moment this is the only way, happy to work with more trusted banking partners once they embraced BTC.

Two questions:
1. On what exchange is your exchange rate based?
2. On the debit card, the money is stored as FIAT or BTC? (The exchange is done when the card is loaded or during each payment?)

Regarding the law-discussion:
I think there is a good law-related reason, why a bank in Gibraltar (which one btw) was choosen as card issuer. Gibraltar is a known tax haven and thus, on the grey list.

Nearly. All countries except USA, India and countries on sanction lists.

Does it work worldwide, bcoz some countries hv restrictions.

that's done - sent you the link to request the code. Thank you for your support!

ok, lets see what happens. Can you pm me a beta code invite thingy?

fully agree. The whole idea behind this is to make BTC easier to use, so that not just IT-savvy guys like you can transact in it, but someone's granny, too. Bitcoin ATMs are great, love using them even just for the feel of the act,hope more of them keep coming up, the one drawback is the exchange rate.

Unfortunately we cannot send cards to the US addresses due to regulatory limitations (imposed on the card issuer). Which does not mean the card cannot be used in the US - if you live elsewhere and just travel to the States, the currently available USD one is the best choice

thank you for your thoughts and suggestions - all is very reasonable and to the point. We will surely look into such possibility.

Meanwhile, we are still in beta, so, need to get some of you guys to try the service and share your thoughts - what is good, what needs to be changed, etc. Doing that on small amounts - there is no risk for anyone. After all, we have our risks too, especially once the 'buy' functionality is enabled and users are allowed to buy BTC using credit cards (this alone could be worth a separate topic!)

this is definitely something I think that is needed in order for bitcoin to strive in the future. More atms would help also.


Interested to see how this pans out. I am in the states  but hopefully some more of our mates in england give this a shot

Most legitimate companies have more to lose than to gain by disappearing, because of a variety of reasons, the most important one being accountability. Im not yet convinced you could be held accountable if you decide to run one day. But here is a thought, again based on escrow: put a non trivial BTC amount in escrow, to be released to you after x months, or to be used to compensate victims if you turn out to be a scam. In the line of business you're in, you should be able to afford more than a symbolic amount for this.

please, test us. Give us a chance - try creating an account and ordering a card. Read through the Legal and FAQ sections on the web-site and feel free to ask any questions here or via e-mail. Unless they touch upon sensitive information which we cannot disclose, will be happy to answer.
In the end, only action and delivery can be good enough proof, lots of details can be made up if someone wanted to run scam

well worded.
That is the plan, and that is why the fees are low.

As mentioned in another reply, we cannot fully disclose all the sensitive commercial information and partnership details, unless we have an NDA in place, but would be glad to provide anything you find credible.
Would our investor slides pack be of any worth, you think?
As for proof that the company won't be disappearing, I am not sure what kind of proof that could be - can anyone actually do that?

It is not a new idea, you are right. Most ideas have existed by the time someone made something valuable out of them. Thus far, bigger competitors are only taking pre-orders, whereas our card is ready to order and ship.

Will you be at Bitcoin Expo in two weeks?