Bitcoin Exchange BTC-e Enables Fund Withdrawals Using Debit and Credit Cards

BTC-e enables withdrawal of funds on the cards VISA / MasterCard issued in any country and in any currency.

Photo: shopcart24 PayPal Here /Flickr

Photo: shopcart24 PayPal Here /Flickr

BTC-e has been allowing transfers to MasterCard and Visa, two of the largest and most commonly used international card issuers, since 21st of March, 2014. The information was posted in company’s blog. It was also mentioned that a new offer can be used worldwide and any currency can be used. Although the service has a fixed fee that equals 5% of the operation value.

 “If your card is not in USD, the money will be converted at the rate of VISA / MasterCard or your bank’s rate (depending on the agreement with your bank).”, told the representative of BTC-e.

It was also mentioned that it would be a two or four days delay, while receiving funds. Plus to that, not all cards are complement to the new system. Among them are MasterCard’s Maestro debit card, cards issued by PayPal and Visa Electron debit cards

BTC-e has been providing customer testing of the service prior to its enabling, and published answers to FAQs afterwards.

It was indicated that transactions are displayed as “affiliate payment” or “refund affiliate payment” on credit card statements. Plus to that, not every card-holder will have an opportunity to send funds to cards in different countries because of restrictions imposed by banks

 “Some credit cards that do not allow [you] to have a positive balance cannot be funded. If payout to your card is not possible, then we will immediately notify you and refund the money back to your account.”, added BTC-e.

Earlier this year, on 28th of February BTC-e cut the fees for withdrawal actions via some third-party services in a move. That led to simplification of moving funds out of the exchange. The new innovations also provoked increasing attention from the media and cautions from some of major investors about the exchange’s practices.

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