Short for Advance Cash, AdvCash is a Belize-based firm which issues Bitcoin debit cards. The parent company behind the AdvCash is Wave Crest Holdings Limited –a well-renowned name in the cryptocurrency market. You will be surprised to know that the company helped many debit card issuers to partner with Visa but it itself uses MasterCard to issue its debit card. This saved the company and its users from facing any issues when Visa ceased partnership with other debit card issuers. The decision to opt for MasterCard was only because the company’s primary target audience is digital nomads and freelancer. It wanted to create an easy market for them to penetrate into the cryptocurrency market with ease and also to pay cheaper fees.
In this article, we shall review some of the advantages, disadvantages and fee structures of the AdvCash Bitcoin debit card.
- The debit card features an e-wallet. This allows customers to easily deposit Bitcoin.
- Unlike other debit card issuers, the firm supports many e-currencies such as Perfect Money and OKPay.
- The debit card supports SEPA and SWIFT transfers, similar to a current bank account.
- Domestic transfers are free of cost.
- Users don’t have to pay any monthly maintenance fees.
- AdvCash offers strict account security. There are multiple tiers for identity protection of the user.
- All internal transfers are free, and there is no monthly maintenance fee.
- Another great perk is that the users can support Rebels (Russian currency)
- Unlike most debit card issuers, the AdvCash card, unfortunately, lacks a mobile app, making it impractical in today’s fast-paced world.
- The card is only accessible for Russian and European clients.
- There is not an ample amount of information about the company’s CEO and executives. Having an insight about who runs the affairs and who should address concerns makes for a bad reputation.
- Some verified users complain of purchasing limits when using the AdvCash.
- The cost of issuance of the debit card is $5 if the user orders it right away after signing up.
- The price can go up to $15 if the user doesn’t order the card even after one week of signing up.
- The price of the virtual card is $1.
- It is free to use the debit card in physical stores and online.
- If you wish to top-up your wallet, it costs $1
- There is a flat rate fee of $2 for any domestic ATM withdrawal.
- There are no monthly maintenance charges which are a unique perk, not offered by most debit card issuers.
- Currency exchange and foreign transactions cost 2.95%
- Physical card: Yes
- Virtual card: Yes
- Card type: MasterCard
- Mobile app: No
- Supported fiat currencies: EUR, GBP, RUB, and USD
- Supported cryptocurrencies: Bitcoin (BTC)
- Anonymous: Yes
The debit card doesn’t enjoy a positive review on platforms like TrustPilot. However, the management is fast to respond to any customer-related query and ensures all the demands are addressed with satisfaction. Despite this, it hasn’t stopped the bad review from popping up every now and then which calls for suspicion. On the whole, it seems to be a fairly good choice for European and Russians users. If only the company would invest in its distribution channels, the card has the potential to reach amongst the top debit cards. There is news that the company is currently testing its mobile app, which is a good sign. With no monthly charges, low ATM withdrawal rates, and strict security, the card does have the potential to win more customers.