Coindesk Logo

BTC-e Enables Fund Withdrawals Using MasterCard and Visa Cards

BTC-e Enables Fund Withdrawals Using MasterCard and Visa Cards

BTC-e Enables Fund Withdrawals Using MasterCard and Visa Cards

The new program will allow customers to send money to debit and select credit cards issued internationally.

The new program will allow customers to send money to debit and select credit cards issued internationally.

The new program will allow customers to send money to debit and select credit cards issued internationally.

AccessTimeIconMar 21, 2014, 4:41 PM
Updated Sep 3, 2021, 10:59 AM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Notoriously tight-lipped bitcoin exchange and CoinDesk Bitcoin Price Index member BTC-e is now allowing customers to withdraw funds to Visa and MasterCard debit and credit cards, with some exceptions.

The company blog post, issued on 21st March, indicated that the new program is now available to customers in any country, using any currency. All customers will pay a 5% fee for the service.

The new functionality is noteworthy as it will allow customers to send money to debit and credit cards issued by two of the largest and most commonly used international card issuers. At present, the transfer of funds is only possible in US dollars.

Explained BTC-e:

"If your card is not in USD, the money will be converted at the rate of VISA / MasterCard or your bank's rate (depending on the agreement with your bank)."

BTC-e estimated that customers will need to wait between two and four days to receive funds. MasterCard's Maestro debit card, cards issued by PayPal and Visa Electron debit cards are not able to be used in conjunction with the service.

BTC-e did not respond to requests for further information.

Customer feedback

BTC-e conducted customer testing for an unidentified period before enabling the service, and posted answers to three frequently asked questions.

The exchange indicated the transactions will display as "affiliate payment" or "refund affiliate payment" on credit card statements. It added that funds can be sent to cards in any country and that on some cards such transactions would not be possible due to restrictions imposed by banks.

Added BTC-e:

"Some credit cards that do not allow [you] to have a positive balance cannot be funded. If payout to your card is not possible, then we will immediately notify you and refund the money back to your account."

Renewed activity

The news follows what appears to be an increasingly active period of experimentation from the major exchange in regards to its offerings, notably following the insolvency of its one-time major competitor Mt. Gox.

, it cut withdrawal fees via some of its third-party services in a move that increased the ease with which some customers would be able to move funds out of the exchange.

The moves also come in the wake of increasing attention from the mainstream media and warnings from major investors about the exchange's practices.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.