AdvCash Debit Card Review

Many people today buy and hold digital assets as an investment. Others prefer using their cryptocurrencies as a medium of exchange. They want to be able to spend them in much the same way that they would spend fiat currencies like the USD, EUR, or GBP. The problem is that comparatively few retailers accept Bitcoin and other cryptocurrency units. AdvCash is working to make it easier for individuals to spend digital coins with its plastic and virtual cryptocurrency debit cards.

AdvCash serves as an offshore payment provider. They are able to help individuals and business owners harness the power of cryptocurrency. The card provided by AdvCash lets users spend money online as well as receive payments. This can be very useful for freelancers and webmasters who work for clients in many different areas of the world.

About AdvCash -

AdvCash is short for Advanced Cash. The company was created in 2014 and is based in Belize. Those who own the company remain anonymous to the general public. The company has said that their staff has more than twenty years of experience in matters of payment processing on an international scale. Information beyond that is hard to find. What is known is that the parent company of AdvCash is Wave Crest Holdings Limited. This company is a registered payment provider that was incorporated in Gibraltar.

Right away, this lack of transparency will cause some individuals concern. This is understandable. It is somewhat comforting that there are two licenses made available by AdvCash. The licenses establish that the company is authorized to provide financial transactions by the jurisdiction of Belize. Under the licenses, AdvCash can offer payment processing and international money transfers to clients in many areas of the world.

It is also a comfort that the company maintains a strong presence on social media. They have Facebook and Twitter accounts which are updated regularly. The customer service provided by the company is available through email by reaching out to [email protected]. In most cases, it seems as though users have been able to reach the company when they have an issue that needs to be resolved.

Services offered by AdvCash

First and foremost, AdvCash is a payment processor. They primarily exist to help resolve payroll issues of companies around the globe. In the digital age it is not uncommon for online businesses to work with individuals they have never met before. Companies need a way to pay freelancers who may be located in a different country. As you can imagine, making payments on a global scale carries a whole host of issues including currency transfers.

The solution proposed by AdvCash is to offer a debit card that is backed by cryptocurrency, specifically Bitcoin, rather than fiat currency. Bitcoin is available to users all over the world. So, a person who has an AdvCash debit card could receive their payments and use them at ATM machines or for shopping online. In essence, a cryptocurrency debit card functions a lot like a cryptocurrency wallet. The difference is that the card can be inserted into an ATM so that cash can be withdrawn. The conversion from digital currency to fiat is seamless and takes only a matter of seconds. The virtual and plastic cards offered by AdvCash are accepted anywhere that Visa and MasterCard are accepted.

Cards are available in the USD, EUR, and GBP. Unlike some other cards, this one can also be obtained in RUB for use in Russian markets. The company prides itself on being one of the institutions that is working to open up a Bitcoin debit card market in Russia.

According to AdvCash, there are 50 countries that will not permit usage of the card. But, in our research, we found many others that are not listed. The company will not ship a Bitcoin debit card to residents of the United States. They also do not ship to most residents of Africa and the Middle East. Venezuela is also exclude. Those who want to consider this card as a payment solution would do well to make sure the card is accepted in their country before proceeding.

Perhaps one reason that some countries do not permit their residents to have these cards is that they can be issued anonymously. This means that those who request the card do not have to verify personal information. However, it should be noted that there are limitations imposed upon those who do not wish to verify their accounts. Withdrawal limits for verified users are moderately higher.

Loading a AdvCash Bitcoin Debit Card

Funding an AdvCash card is primarily accomplished with the use of an e-wallet that is provided by the company. This is convenient because it lets users load with a bank transfer or receive Bitcoin transfers. The best way to think of how the e-wallet functions is to envision it, and the card, as a Bitcoin wallet.

What this means is that freelancers and other individuals can be paid with Bitcoin directly to their card. There is one strange aspect of the loading process. The company does not charge any fees to load the e-wallet, but there are fees incurred when moving funds from the e-wallet to the card. It seems to us that the process should be more seamless and accomplished with one action.

It costs $0.99 each time a user moves money from their e-wallet to the card. This can add up if a user receives frequent transfers. Obviously, the wise choice is to move larger amounts of money at a time because the fee does not change. So, when you load larger sums you are reducing the overall percentage of the fee.

Payment providers charge different amounts for loading the e-wallet. It is possible to move money to the wallet with OKPay, eCoin, and Payeer. The amounts charged can range from 0.95% and 4.25% depending on the processor. Again, these fees can become substantial over time.

AdvCash Fees and Limits

To begin, ordering the card costs $4.95. But this only applies if the card is ordered immediately upon registration. If the user waits for seven days, the fee increases to $14.95. The only way to explain this is that the company wants to encourage individuals to follow through on their intention to receive and use the card. It also cost an additional $1 to have a PIN delivered with the card. This is also somewhat hard to understand. After all, a debit card is virtually worthless without a PIN number.

Non-verified card holders are limited to $500 in withdrawals on a single day and may not exceed $2,500 in withdrawals each month. That is somewhat restrictive if the individual plans on using the card for the majority of their spending and bill paying throughout the month. But this is the price users must pay for anonymity. A maximum of $2,500 can be loaded each month to the card.

Those who are willing to verify their accounts receive higher limits. A load limit of $3,000 applies and the same limit applies to daily ATM withdrawals. Card holders are permitted to spend up to $10,000 per day online or at brick-and-mortar merchants who accept Visa or MasterCard.

There is a charge of $1.99 for each domestic ATM withdrawal. This is in addition to the fee charged by the ATM. It also costs $2.99 to make withdrawals at international ATM machines. There is a 2.95% currency exchange fee which facilitates trading Bitcoin for fiat currency. This is actually a reasonable fee when compare to that charged by cryptocurrency exchanges. The exchange rate is also competitive.

What you must remember is that the cryptocurrency market is very volatile. The price of Bitcoin can fluctuate on an hourly basis. What you load on the card may diminish in value before it can be used.

AdvCash Service and Support

At the present time the only support offered by AdvCash is via email. It would be more comforting if the company had live chat or telephone support.

What can be said is that email support requests to the company appear to be handled quickly in most cases. The individuals working the support desk and informed and able to assist on a wide range of issues. There may at times be a language barrier to overcome, but this is the case with any company that provides support on a global scale.

Our View of AdvCash

The AdvCash website does a good job of helping newcomers to cryptocurrency understand how the process works. Unfortunately, the absence of verifiable information about the owners of the company amounts to a lower rating for this company. The website is easy to use; only a couple of clicks will allow users to navigate to their desired section. It would be nice to see a mobile app for the company appear at some point in the future.

There are some distinct Russian ties here. The platform is available in a Russian translation and the RUB is one of the base currencies offered. Some might find this troubling given that Russia is a haven for some of the world’s brightest computer hackers. Nevertheless, the site is encrypted with the latest technology, and all transactions are claimed to be safe. Personal information supplied to the company is kept secure.

AdvCash earns 4 out of 5 stars on our cryptocurrency debit card rating scale.

AdvCash Pros

Card has no monthly maintenance fee
Available in four base currencies including the RUB
SWIFT transfers are free
Flat rate for other transfers

AdvCash Cons

No mobile apps
No company owner information supplied
Harsh daily limits

As of January 2018 Visa®  terminated a card issuer’s membership, causing cryptocurrency debit card providers to suspend their services. As a result, all the cards of the ADVCASH Cards Program were deactivated. Check back later.