Prepaid Card Can Be Funded by Bitcoins

Bitcoins has been making huge strides in the news lately, with more stores and customers using it every day. The latest development in the Bitcoin world is a new prepaid debit card available in the United Kingdom. This card can be purchased with and funded by Bitcoins, and it can be used in stores like any other prepaid card.

Surprisingly, the Bitcoins you put into the card do not come out as Bitcoins. They come out as Euros, British pounds and other forms of currency. This means that you do not have to only use it at stores that accept Bitcoins. You can use it anywhere MasterCards are accepted.

The card offers a unique SMS loading option where you can deposit money onto the card through text messaging. There is a fee associated with this option, but it gives users another way to get money onto their cards. Users may also do this online or in select retail stores.

The specific fees for this card vary based on the currency the Bitcoins are being converted to. In USD, a person can deposit up to $1,000 on the card after paying $77 for the initial setup. ATM withdrawal fees are around 1.5% to 2%, and monthly service fees are $2. You can learn more about the fees for your country and purchases of choice by reading the BTC terms of use.


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The information contained within this article was accurate as of June 24, 2013. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website.
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John Oldshue is the creator of LowCards.com. He worked for over 15 years in television and won an Emmy award for his reporting. He covers credit card rate issues for LowCards.com.