With instructions on how to set up your BitPay cardholder account.įiat: To set up direct deposit, cardholders can retrieve their account number and routing number by calling the Cardholder Services team. To receive payments via direct deposit, ask your employer to set up automatic payments to your BitPay Card. BitPay charges no additional fees for direct deposits.Ĭardholders who wish to deposit USD to their BitPay Card via an ACH transfer need to provide their account number and routing number to the crediting service. To initiate an ACH transfer, users can select a third party payment processor such as Western Union, Walmart, CVS Pharmacy, Rite Aid, Walgreens, and other participating retailers. BitPay charges an additional fee of $5 for ACH deposits.Ĭrypto Assets: Cardholders are charged a standard miner fee and BitPay’s “Network Cost Fee” when paying any BitPay invoice.įees for ACH deposits vary by location and can amount to $4.95 per deposit. To add funds to a BitPay Card balance with crypto assets, users can log in to a cardholder account and select “Add Funds”. Withdrawing Crypto Assets and Fiat Currency From there, they can enter a dollar amount and receive their invoice. The BitPay Wallet crypto asset balance is loaded to the card once the cardholder pays the invoice. All crypto assets are converted to USD when sent to the BitPay Card and cannot be withdrawn to an external crypto asset wallet. The merchant receives payment in their local fiat currency (e.g.Mastercard verifies that there are sufficient funds available to complete the transaction.The cardholder spends funds online or in-store at any Mastercard-approved merchant.If the cardholder deposits crypto assets, BitPay will automatically convert their funds to USD.The cardholder deposits crypto assets or USD to their BitPay account.Using the BitPay Card for purchases is comparable to using traditional debit cards, with only a few slight differences.Ī BitPay Card transaction works like this: Cardholders can withdraw fiat currency at ATMs. The BitPay Card has a mobile app available on iOS and Android. In May 2016, BitPay launched its prepaid debit card for Bitcoin users in all 50 US states. Little progress has occurred since the initial launch.Īs of late 2020, the BitPay Card is clearly a work in progress. The BitPay Card’s biggest weakness is its limited regional availability. The card is not available in countries or regions outside of the US.Ĭustomers have complained about various aspects of the user experience.
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