Wirex Visa Card Review — The Only Guide You Need
Wirex is a FinTech company with a single goal of making both fiat and cryptocurrencies available for everyday use, thus giving their users the freedom of choice when it comes to managing their funds. Initially, Wirex was named E-Coin (when the company used to be a virtual card provider) but they thought that rebranding was convenient after they started expanding the scope of their services and currencies.
Wirex and other alike fintech payment solutions such as Crypterium, using cryptocurrencies is becoming more and more convenient. They all share a vision for instant and better availability of banking services and a resolution to crush the geo-limitations of finance.
Wirex has launched its own Wirex Visa card so that users of the wallet can access their funds at any time and spend, transfer or exchange currencies on the go.
How to order a Wirex Card?
Ordering a Wirex card mainly depends on the verification status of your Wirex account. Once your account is verified, you will become eligible for a debit card. Besides, you can order your EUR or GBP payment card, and it will be issued with a correspondent currency account. There are no shipping or issuance fees and the delivery time usually takes no more than four days. You can order a Wirex debit card in any of these channels:
- Official Wirex website
- Android/iOS mobile app
If you choose to order your Visa via a web browser, you will need to go to the Wirex dashboard and click on the "Order cards." This step is followed by the selection of the preferred base currency card after which you can click on “Get the card.” Double check all the personal details and click on the “Place order” button to submit your application.
The process is similar for those of you who opt for ordering a card via the mobile app. Users of iOS or Android platforms will find “Choose a card” section on the dashboard where they need to tap on the “Add new” button. The next step is choosing the currency and checking personal information. The final step in the application is to tap on the “Order card” button.
Which countries are supported by the Wirex Card?
Even though Wirex is trying to be available on the global scale and offer its clients worldwide coverage, the list of the countries where their services are available is still limited. The company wants to assure all the potential clients that they will expand the area of their business once they meet all the local regulatory compliance procedures for the countries in question. To date, only UK and EU residents are eligible to order a Wirex card. If you are looking for a global solution, the Crypterium Card might be the right solution for you.
Where can you use the Wirex Card?
A Wirex debit card can be used anywhere in the world where Visa cards are accepted. There will be no limits to using this card with online merchants, retail stores, or ATMs.
Which currencies are linked to the Wirex Card?
In terms of funds management, this payment card are linked to current accounts in EUR or GBP. Alternatively, you can opt for a prepaid USD currency Visa card; however, you cannot have a USD currency account associated with this card.
What are the purchase limits of the Wirex Card?
As far as purchase limits are concerned, Wirex cardholder should be aware that the maximum balance on their payment cards depends on the currency associated with that card:
- GBP 15,000
- EUR 16,000
- USD 20,000
Furthermore, the daily amount of funds on the cards associated with GBP, EUR and USD currencies you can spend is £7,500; €8,000 and $10,000 respectively.
The amount you can spend monthly is unlimited, as well as the limit of funds loaded on any these card. For cardholders who wish to withdraw their funds from an ATM, the daily limit is 250 GBP/EUR/USD.
Wirex Card fees
When it comes down to card issuance and delivery fees, Wirex Visa cards have an advantage over most competitors. There are no card issuance and standard delivery charges, even though some initial deposit is required. The potential cardholder will have to pay a monthly card-management fee for all the Wirex cards in his/her possession. These fees are relatively low, and they go from £1.00,€1.20 to $1.50.
ATM withdrawals have a fixed fee in countries of EEA (the UK included) £1.75 / €2.25 / $2.50 and an international fee £2.25 / €2.75 / $3.50.
Is the Wirex Card Safe?
On the subject of the safety of the Wirex card, it is worth mentioning Wirex operates under an e-money license of the UK Financial Conduct Authority, which guarantees their payment cards count on standard VBV protection, typical to Visa cards.
Being PCI-DSS level 1 certified, Wirex wants to make all of its users feel comfortable and safe, and decrease the possibility of any kind of fraud to a minimum. Wirex offers a 3D Secure consumer authentication security, which ensures all the users are protected online and offline.
Any user can enable 2FA, choose a security word for additional security, or authorize the specific devices to have access to the linked account. All sensitive data is protected by TLS and 256-bit AES encryption.
Wirex Card — Final Assessment
The Wirex Card is certainly a big player in the market. This crypto debit card offers competitive conditions when it comes to pricing and fees, but fails to reach a wide audience. The card, as previously stated, is only available to UK and EU residents.