Visa crackdown on bitcoin debit card providers - Jan 2018

polylogic

sr. member

Activity: 546

Merit: 254

ʕʘ̅͜ʘ̅ʔ

Quote from: piratack007 on January 23, 2018, 11:23:04 AM

Hello

this is the last news at Advcash about their prepaid card

Quote

23 January 2018
Closure of the Wave Crest Card Program
Unfortunately we have to let you know that Wave Crest, our current card solution provider, is unilaterally shutting down our card program. New virtual and plastic cards are no longer issued to any users whether or not they are EEA/SEPA area residents.
Please make sure you have read and understood the info below:
- you will not be able to fund currently active plastic and virtual cards after Feb 9, 2018
- all existing plastic and virtual cards will be closed on March 27, 2018
- currently ATM withdrawals are allowed with a daily limit of EUR 1000 / USD 1000 in SEPA countries and EUR 500 / USD 500 outside the SEPA zone
- there are no new limits concerning POS transactions in shops
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.
We appreciate your understanding and cooperation and we apologise for any inconvenience caused.

What do you think about that??

lol.. my friend ordered a new card 6 days ago, got it 3 days ago and now its getting closed Sad

i hope they are quick to issue new cards... it really sucks but i guess we could still use the bank transfer to cash out.

actually the news have changed...

Unfortunately we have to let you know that Wave Crest, our current card solution provider, is unilaterally shutting down our card program. New virtual and plastic cards are no longer issued to any users whether or not they are EEA/SEPA area residents.

Please make sure you have read and understood the info below:

- plastic and virtual card loads have been disabled
- all existing plastic and virtual cards will be closed on February 27, 2018
- currently ATM withdrawals are allowed with a daily limit of EUR 1000 / USD 1000 in SEPA countries and EUR 500 / USD 500 outside the SEPA zone
- there are no new limits concerning POS transactions in shops

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.

We appreciate your understanding and cooperation and we apologise for any inconvenience caused.

Winstar78

member

Activity: 365

Merit: 14

this is the worst news you could give to me, now i am in a real trouble!

piratack007

newbie

Activity: 11

Merit: 0

Hello

this is the last news at Advcash about their prepaid card

Quote

23 January 2018
Closure of the Wave Crest Card Program
Unfortunately we have to let you know that Wave Crest, our current card solution provider, is unilaterally shutting down our card program. New virtual and plastic cards are no longer issued to any users whether or not they are EEA/SEPA area residents.
Please make sure you have read and understood the info below:
- you will not be able to fund currently active plastic and virtual cards after Feb 9, 2018
- all existing plastic and virtual cards will be closed on March 27, 2018
- currently ATM withdrawals are allowed with a daily limit of EUR 1000 / USD 1000 in SEPA countries and EUR 500 / USD 500 outside the SEPA zone
- there are no new limits concerning POS transactions in shops
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.
We appreciate your understanding and cooperation and we apologise for any inconvenience caused.

What do you think about that??

bloodyboy

full member

Activity: 199

Merit: 100

Hey, I have used advcash mastercard today in euronet Germany and have many strange messages (about transaction can't be completed due to my card provider) after 3 or 4 try finally I withdraw about 250eur... anyone has similar problem today? Could this be due this issue that they (wave crest) have some maintenance in system so transactions even for mastercards have troubles ?

Verdena

full member

Activity: 132

Merit: 100

Quote from: serveria.com on January 06, 2018, 02:02:14 PM

Stumbled on this: https://worldcore.eu/Prepaid-debit-card

Any feedback? Is it affected?

No they shouldn't, they have a Wavecrest mastercard.
I would like to order a card soon, but I'm worried because mastercard can't accept third part payment as advcash's mastercard, and I need it to receive paypal payments!

Anyone know more about that?

serveria.com

legendary

Activity: 2422

Merit: 1191

Privacy Servers. Since 2009.

Stumbled on this: https://worldcore.eu/Prepaid-debit-card

Any feedback? Is it affected?

serveria.com

legendary

Activity: 2422

Merit: 1191

Privacy Servers. Since 2009.

Quote

They work, because they offer a prepaid MasterCard and not a prepaid VISA
and therefore are completely unaffected by the decision to suspend all
cards issued by WaveCrest.

Moreover, looks like they are a bank themselves - they provide a free IBAN account for every new user.

Quote

However, as you have already posted in the other thread, the fees are
too steep for Bitcoin deposits at the moment (possibly partly caused
by the congestion of the Bitcoin network?)

10% is quite a fee and I didn't take into account miner fees!

Samarkand

sr. member

Activity: 658

Merit: 282

Quote from: serveria.com on January 05, 2018, 06:26:02 PM

...

Mistertango card also works reportedly can somebody confirm? ...

They work, because they offer a prepaid MasterCard and not a prepaid VISA
and therefore are completely unaffected by the decision to suspend all
cards issued by WaveCrest.

However, as you have already posted in the other thread, the fees are
too steep for Bitcoin deposits at the moment (possibly partly caused
by the congestion of the Bitcoin network?).

serveria.com

legendary

Activity: 2422

Merit: 1191

Privacy Servers. Since 2009.

Quote from: erk on January 06, 2018, 04:07:22 AM

Quote from: serveria.com on January 06, 2018, 03:57:31 AM

Quote from: erk on January 06, 2018, 02:33:19 AM

So what is VISA's reason for suspending pre-paid cards?
After all they are pre-paid so there is no credit risc.

Governments and tax offices whining about money laundering and tax evasion I guess?

In which case it should effect all pre-paid Visa cards, not just crypto related ones.

I guess this time it's the issue between WaveCrest and VISA. But who knows what will happen next? Perhaps other banks are to follow but I hope not...

erk

hero member

Activity: 826

Merit: 500

Quote from: serveria.com on January 06, 2018, 03:57:31 AM

Quote from: erk on January 06, 2018, 02:33:19 AM

So what is VISA's reason for suspending pre-paid cards?
After all they are pre-paid so there is no credit risc.

Governments and tax offices whining about money laundering and tax evasion I guess?

In which case it should effect all pre-paid Visa cards, not just crypto related ones.

serveria.com

legendary

Activity: 2422

Merit: 1191

Privacy Servers. Since 2009.

Quote from: erk on January 06, 2018, 02:33:19 AM

So what is VISA's reason for suspending pre-paid cards?
After all they are pre-paid so there is no credit risc.

Governments and tax offices whining about money laundering and tax evasion I guess?

erk

hero member

Activity: 826

Merit: 500

So what is VISA's reason for suspending pre-paid cards?
After all they are pre-paid so there is no credit risc.

chris200x9

legendary

Activity: 1316

Merit: 1011

Quote from: warningsigns on January 05, 2018, 08:49:28 PM

Did they suspend their entire cards? I know they suspended those of cardholders from non-EU countries. Is this a new crackdown aimed at those living in Europe too?

If this is a total and global suspension of all Wave Crest cards, we have limited alternatives left. Mistertango is a good one.

I wonder what triggered this much more intense crackdown. Must be the U.S. again hating on bitcoin.

Yes, this suspension is for all the cards issues by Wavecrest cards and not restricted to any country or region. It looks like the card issues didn't follow some of the VISA guidelines so all off a sudden they closed the service.

warningsigns

hero member

Activity: 896

Merit: 1082

Did they suspend their entire cards? I know they suspended those of cardholders from non-EU countries. Is this a new crackdown aimed at those living in Europe too?

If this is a total and global suspension of all Wave Crest cards, we have limited alternatives left. Mistertango is a good one.

I wonder what triggered this much more intense crackdown. Must be the U.S. again hating on bitcoin.

serveria.com

legendary

Activity: 2422

Merit: 1191

Privacy Servers. Since 2009.

Quote from: Verdena on January 05, 2018, 06:47:23 PM

Quote from: serveria.com on January 05, 2018, 06:26:02 PM

Quote from: Winstar78 on January 05, 2018, 06:07:35 PM

Nice list but, sorry, near to useless in today situation, if we don't know at least which ones were issued by wavecrest

Exactly, besides some cards issued by WaveCrest are still working (like ADVCash). Why? I really don't get it...

Mistertango card also works reportedly can somebody confirm? There are also rumors that TenX have switched the issuing bank and their new cards also work but no confirmation on this as well.

Also TenX cards seem to be iussed by WaveCrest-Mychoice...

https://support.tenx.tech/hc/en-us/articles/115000952011-What-are-the-KYC-limits-

Yes, found that too. Just heard rumors they have switched the issuing bank lately so the new cards are not affected. Wonder if somebody can confirm this?

Verdena

full member

Activity: 132

Merit: 100

Quote from: serveria.com on January 05, 2018, 06:26:02 PM

Quote from: Winstar78 on January 05, 2018, 06:07:35 PM

Nice list but, sorry, near to useless in today situation, if we don't know at least which ones were issued by wavecrest

Exactly, besides some cards issued by WaveCrest are still working (like ADVCash). Why? I really don't get it...

Mistertango card also works reportedly can somebody confirm? There are also rumors that TenX have switched the issuing bank and their new cards also work but no confirmation on this as well.

Also TenX cards seem to be iussed by WaveCrest-Mychoice...

https://support.tenx.tech/hc/en-us/articles/115000952011-What-are-the-KYC-limits-

serveria.com

legendary

Activity: 2422

Merit: 1191

Privacy Servers. Since 2009.

Quote from: Winstar78 on January 05, 2018, 06:27:25 PM

Don't think ADvcash is by wavecrest, anyway it's a mastercard, I have it

Contacted them today and they confirmed it:

Anna V. (Advanced Cash Ltd)

Jan 5, 15:58 MSK

Thank you for contacting Advanced Cash support center.

It`s Wave Crest.

If you have any further questions or concerns, please let us know and we will be happy to help.

You can always check out the FAQ inside your account in the Support Service section (https://wallet.advcash.com/pages/faq) to quickly get answers to most common questions about how Advanced Cash works. The FAQ is also available at http://advcash.com/en/faq/.

Best Wishes,
Anna V.
Customer Support Service Engineer
Advanced Cash Ltd

So I guess WaveCrest Mastercard cards are still working?

Winstar78

member

Activity: 365

Merit: 14

Don't think ADvcash is by wavecrest, anyway it's a mastercard, I have it

edit, I just checked, that's a wavecrest like you said.

To be honest I don't have used it today so I dunno if it's working, but no warning emails have arrived from advcash

serveria.com

legendary

Activity: 2422

Merit: 1191

Privacy Servers. Since 2009.

Quote from: Winstar78 on January 05, 2018, 06:07:35 PM

Nice list but, sorry, near to useless in today situation, if we don't know at least which ones were issued by wavecrest

Exactly, besides some cards issued by WaveCrest are still working (like ADVCash). Why? I really don't get it...

Mistertango card also works reportedly can somebody confirm? There are also rumors that TenX have switched the issuing bank and their new cards also work but no confirmation on this as well.

Winstar78

member

Activity: 365

Merit: 14

Nice list but, sorry, near to useless in today situation, if we don't know at least which ones were issued by wavecrest

Topic: Visa crackdown on bitcoin debit card providers - Jan 2018 (Read 535 times)