Topic: Bitcoin -> MasterCard (or any credit card)... who cares? - page 2. (Read 8291 times)

Do you have Credit Card Annual Fees where you live? Same thing. Usually banks can afford to print out the cards for "free" because they make a lot of money from servicer fees and such, from having A LOT of transaction volume. My guess is these guys don't expect to have a lot of volume per customer, and so need to recoup their costs. If this thing takes off, I wouldn't be surprised if they did become free eventually.

TL;DR For now, just think of this as a one-time $10 account fee

What I don't get is why do you have to buy the card? WTF?

Since when do you have to buy your debit card from your bank?

That's retarded.

Would you be willing to sign-up with a service that already provides this?

I live in the UK, will I be able to get my mitts on one of these bad puppys?

following the link https://shop.bitcurex.com/10-bcc-bitcurex-card-visa-eur.html that should bring the shop gives a 404, so I suppose the service is discontinued

Yes, Thanks!

Has anyone tried it yet?

This? -> https://shop.bitcurex.com/ ??

I remember having seen a website offering some kind of bitcoin rechargeable debit card preloaded with some coins, where no documents were needed to purchase them, but I'm unable to find it anymore.

Can anyone help me find it, or maybe I was just dreaming when I was browsing that site?

i agree ,safer cashing out through an exchange and transferring the funds to your regular bank and debit or credit  card than being raped by excessive fees

Wow that's a lot of fees.  No thanks.

Alternatively,

 how's about an exchange that automatically exchanges BTC to fiat and then pays it out via various (cheap) methods straight away including the UK FPS.

 If paypal or Skrill didn't have chargebacks their cards would work well with this.

edit: Perhaps there's a way to script/automate this? What are all the cheap methods to withdraw BTC to a card?

Probably this is how http://bitcoin-debit.com/fees.php

The other important differences are the loading QR code on the card itself giving the ability to load without visiting and logging into some website, as well as the presumably high speed of the loading.
(zero confs(?) due to bitinstant having your verified ID and limits on amount that can be loaded)

The convenience this adds compared to other rechargeable cards I've seen discussed, seems like the drawcard to me.

How is the Bitinstant card different from http://bitcoin-debit.com/ ?

I really hope they do figure out how to keep the balance in BTC and exchange to USD only at the point of sale. Otherwise it really would be just another MasterCard that is rechargeable with Bitcoin, but otherwise just holds USD (albeit I guess with lower fees).

That's something that the details are still being worked out on it seems.  Most likely no, there will be a USD debit balance for the card.  But BitInstant will make it easy to convert bitcoins into USDs (1.5% fee) and either no confirmation or 1 confirmation, which hasn't been determined yet either.    

The problem I've seen up until this point from elsewhere is that this transfer can be done, but not in real time.  But perhaps this specific issuer is able to offer real-time transfer, and then it is just moving the USD credit from BitInstant's account with the issuer to the cardholder's account. It sounds like it would be so simple to do this but for some reason it just isn't offered that way (real-time) anywhere, as far as I know.  

The other part that was left unanswered was if a card swipe (authorization) is attempted for more than the USD balance, could the authorization trigger the conversion of a sufficient amount of Bitcoins so that the authorization would have sufficient funds and be approved.  That would allow you to never have to manually transfer from your bitcoin account with BitInstant to your USD account.   I'm thinking this is like way down the road, at best, but if they can do that, you never need to carry a USD balance, the bitcoins are converted with each purchase.

We know there is demand for this.  Anyone who has a reloadable debit card that accepts Direct Debit (ACH) is able to convert their bitcoins and withdraw to their debit card now -- it just takes a day or three for the funds to get added.   This can be done from BitFloor, Camp BX, FastCash4Bitcoins, and others -- today.

And there is also a growing number of people cashing out to PayPal, which, can have tied to the account a debit card.  Those account-to-account (A2A) transfers are spendable immediately.   Or you can convert Bitcoins to MoneyPak and load your card that way -- another method that is essentially instant.   So this movement from bitcoin into debit cards is already happening, just that what BitInstant is saying makes it the easiest, fastest (and in most instances, cheapest) method for this.

Petty cash. Only $500 to $1,000 for now, unless we need more for travel. The hundreds of thousands of USD I'll be raising will obviously be in an actual bank account that the investors will be confident enough for me to use (they have the money, so it's obviously their say, and I wouldn't feel comfortable holding up to $500,000 USD in Bitcoin, anyway). That large cash, however, will be spent very rarely and in HUGE chunks, so there's no reason to keep it in something as easily accessible/transferable as Bitcoin. But for petty cash that needs to be spent often and in small amounts, Bitcoin is definitely more convenient.
There really hasn't been that much volatility lately either. Sure it shot up from $10 to $15 and back to $10 in a week, but otherwise it was rising from $5 to $10 over the course of many months, and I have more than enough buffer to be comfortable with it.

That was my thought.  Hell we are a Bitcoin business and we secured a line of credit from bitcoin lenders in order to have a tool to hedge our exposure.  Not many small businesses can afford to see the purchasing power of their working capital decline by 50% in a day.

Totally!
+1

make a video and photos
what will be the first thing you will buy?