The looming fate of payment cards has the cryptocurrency community worried…
And fair enough…
We’ve noticed the rise in the level of panic surrounding the EU Ban as October 14 draws closer.
Everyone is worried they won’t be able to use their cards to spend their bitcoin and there doesn’t seem to be an imminent solution.
- Will my cards still work?
- What will happen to my funds?
- I hear you have contactless cards as a solution?
- Will I have to pay for a new card?
Let us clarify:
The reality is if your registered address is outside Europe, your card will stop working after October 14.
What is Wirex doing about it?
What we can tell you is that we’re working on a solution that will work both INSIDE and OUTSIDE of Europe. This card will have a brand new design, new features (contactless & NFC compatibility) – both a world first.
We’re in the final stages – what this means is we’re doing our integration testing to make sure the payment services actually work. We’re finalising our paperwork to ensure we’re compliant, and we’re waiting for our card emitent to give our designs the tick of approval.
We expect to give you another update in the next few weeks.
These will replace existing plastic cards.
If you currently own a Wirex plastic card – you will be not be charged for a replacement card.
Those who currently own Wirex virtual cards will be eligible for an upgrade to a new card – more details to follow.
Come October 14:
Your cards will continue to work if you are registered within the EU.
Those affected outside the EU will no longer be able to use their card(s) for any transactions. The remaining balance on your cards will be transferred to your Wirex wallet. You will continue to have access your Wirex wallet to make transfers.
Again, you will not be asked to pay for a new replacement card. Once we are ready with the new contactless cards, we will be in contact to let you know how you can get your free replacement.
Get the latest updates
We will inform you once our new Contactless Cards become available. We are currently taking pre-registrations so we can prepare to send you a new card.
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Yes! Let me know the moment Contactless Cards are ready