BTC-e allows fund withdrawals to Visa or MasterCard from any country

BTC-e allows fund withdrawals to Visa or MasterCard from any country

BTC-e has just announced on their site that they are allowing withdrawal of funds to Visa and MasterCard issued debit and credit cards with immediate effect.

 

The news update indicated that the new withdrawal option would be available to customers “in any country and in any currency.” However, payment would be made in US dollar, which means that for international customers, the fund would be converted to local currency “at the rate of Visa/MasterCard or the bank’s rate.”

 

While the withdrawal could be made in any country, BTC-e states that there are few exceptions. MasterCard’s Maestro debit card, Visa Electron’s debit card and cards issued by PayPal are not supported by the payout system. BTC-e estimates that withdrawal would take between two and four days for the fund to be deposited into the account.

 

The company explained:

On some cards withdrawal is not possible, this is due to the restrictions polices of some banks. For example: you cannot withdraw money through our exchange on the cards issued by PayPal. Some credit cards that does not allow 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.

 

For the time being, BTC-e is the only exchange known to allow this type of withdrawal. The convenience came with a price though. There would be a flat fee of 5 percent on withdrawals.

 

Check out the announcement on Reddit.