If you own a crypto powered VISA debit card (like the ones sold by Spectrocoin, Bitwala or Wirex, but not only) you will have tighter cash withdrawal limits starting January 17th next year. This is imposed by Visa itself, and the cards issuers are just complying.
Here's an excerpt containing the current and the new limits:
| Currency | Current Daily Limit | New Daily Limit |
|---|---|---|
| USD | 2000 | 1000 |
| EUR | 2000 | 1000 |
| GBP | 1600 | 800 |
For a full list of the modifications, have a look here.
It's not yet clear if this is for all VISA cards or just for crypto debit cards.
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So we get a relatively high limit in the eurozone :)
I just ordered a Bitwala card. I'd rather keep my money in crypto, so I won't put more than 1000 euros on it anyway.
I just had an email from Bitwala about this. I haven't used mine to get cash, but I may do at some point. Generally I don't need huge amounts, so it won't really affect me. I may try it some time when I need to deal in cash.
Yeah, I got a few emails too and I thought to check the story. Apparently, it checks, hence my shoutout.
It remains to be seen if this is a move to block crypto into fiat or just an ordinary update.
I use these Bitcoin cards, because it's hard to get an actual Credit Card in Libya... But I'm trying to mininmise my use of them because they made a new rule for unverified users.. Max 250 USD/EUR/GBP lifetime load!!
That's sad because being in Libya I can never verify myself for VISA...
But I live with what I have~
hahah time to get two or more cards instead lol
"My Choice: Corporate" program is not only used for crypto cards. So it will affect all cards from WaveCrest.
Good to know, thanks :)
I'd love to have a 1,000 to withdraw! ;-)
That sucks. On the plus side I never need to withdraw more than $1,000 in a day yet lol. I see no reason why a person shouldn't be able to withdraw a large sum of their own money, especially if there were maybe an extra security precaution or two that did NOT require limiting it to $1000.
@dragosroua, it is always a be disheartening when centralize systems start to impact our decentralized world.
From a business standpoint , I understand. From a liberty standpoint, I am less than pleased.
Thank you for sharing, i was planning to get by through Luno.
upvote and following you. Thank you.
That's great. Thanks for sharing.