Yesterday, I got an email from BitPay offering a refund of some sort! At first, I thought it was a fishing email, but after verification, the email was legit. I didn't understand why they would give me a refund, but today they sent another email explaining it. I haven't used that card yet, so the refund is actually the fee that I paid to activate it. The card fee was 0.006738 BTC ($15) when I got it, so today that is worth $30. I doubled my money 🤑
According to their website, the BitPay Visa Prepaid Card is issued by Metropolitan Commercial Bank for US residents, whereas for Non-US residents, the card is issued by Wave Crest Holdings Limited pursuant to a license from Visa Europe. So if you're a Non-US or Non-European resident, your card will be deactivated. For US residents, there doesn't seem any indication of pulling their cards (yet?).
Here's the link to the eligible European countries. The list includes the European Economic Area, Europe Microstates, EEA Overseas Territories and a few Others.
https://mychoicecorporate.com/visa-card-issuance-list/
Here are excerpts of that email:
Our prepaid card program issuer Wave Crest Holdings Limited recently announced that it will no longer be issuing or maintaining Visa® Prepaid Cards outside of the territory of Europe.
This unfortunately means that the BitPay Card will no longer be available or usable outside of the countries in the European territory. Existing BitPay Cards and other Visa Prepaid Cards registered to cardholders outside of the territory of Europe will be closed as of 15 October, 2017.
We're sending you this email because this change will affect your BitPay Card. Keep reading to learn what you need to do next and what we're doing to make this right.
What You Need to Do Next
You can continue to use your BitPay Card as usual until 15 October, 2017 at 11:59 PM GMT. After this time, your card will be deactivated, and you will no longer be able to use it.
If you are still waiting for us to finish our review of your card application, we will be refunding your order fee and your card will not be created (see below for details). If your card is already in the mail, you will be able to activate and use your card until the 15 October deactivation date.
Please be sure to spend or withdraw any remaining balance on your BitPay Card before 15 October 2017. We recommend that you stop loading further funds onto your card in advance of the deactivation date, and we will be suspending your ability to load your card on 5 October 2017. This will help to ensure that you do not have funds on your card at deactivation.
If you do still have a balance on your card after your card is deactivated, we will provide you with a refund in keeping with our Cardholder Agreement. We will be reaching out to you directly with details if you still have a balance after the deactivation date.
We're sorry that we'll no longer be able to serve your area, but one setback won't stop us. We are already working to find partners which will enable us to issue the BitPay Card in your country again. We still look forward to continuing our work with Visa in the US, the European territory, and wherever we can issue cards in the future.
Thank you for being one of the first people in your country to get the BitPay Card. We love early adopters like you, and this setback won't keep us from getting service to you in the future. Keep an eye on your email inbox. You'll be one the first to know.
Until we can come back to your country, we will be refunding your card order fee. Check your email inbox for a message from [email protected]. This email will allow you to claim a bitcoin refund. Note that BTC refunds claimed later than 3 days may be subject to rate changes.
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Thank you for your posting
Where are you located when receiving this Drakos? I am in the US with an unused card myself. Do you know if they are planning to pull US cards too? Thanks for taking the time to create this PSA!
Canada. I updated the post, please re-read before the email excerpt. So no, US residents aren't affected (for now). I edited the title too.
Ah! I knew you were from Canada. Perfect English + French could only be this! ;)
Yes, some say I am a perfect Canadian... or am I?
I can't say I am surprised at all. Everything crypto will be killed in the US at some point, or as close to it as the government can get away with.
All dreams of lambos vanish.
thanks for leting us know this..
Ahhh. Well done for the doubling.
And actually their refund shows that BitPay is a pretty serious company. That's good to know.
What about the UK residents? Are we still cinsidered as part of europe?
That's a good question. Indeed, they included a link for the European countries eligible. UK is fine. Here it is, I'll update the post with it too.
https://mychoicecorporate.com/visa-card-issuance-list/
Thank you for the information! :)