The first payout that a customer will receive for a purchase made with the Bitcoin debit card is a 1 1 Bitcoin (BTC) transfer and is a direct deposit and cannot be withdrawn. The first Bitcoin transfer will occur on the day of purchase, and will usually take the form of a payment of a pre-defined Bitcoin amount to a customer’s Bitcoin debit card. Thereafter, that customer’s transfer will occur on a weekly basis at the end of the month, and last for a set period of time, usually one day. Typically, this is done automatically by the Bitcoin debit card in the payment processor’s system; the customer can add/edit their Bitcoin balance settings on the card, or request that a fixed transfer rate be provided.
What’s an annual fee paid and how does it factor into my transaction?
The fee varies depending on the merchant. Each fee has a predetermined amount, but it is not always the same amount. It is estimated that each merchant will pay somewhere from 6 to 12% per transaction regardless of size or frequency of purchase.
What happens if the customer decides to cancel?
We will offer a refund to the customer as per our Terms and Conditions if the customer cancels their Bitcoin debit card order. Once this is processed, the customer will be charged a fee. When a customer cancels their Bitcoin debit card order, we will automatically send that customer a refund of the purchase fee, which will then be converted to a Bitcoin debit gift card. Please note: the refund is to cover the cost of the transaction only, and does not cover any chargeback issues or disputes initiated by the customer.
The process from purchase to refund and card transfer takes a short amount of time, what happens if there is a delay?
The customer cannot cancel their Bitcoin debit card order after the pre-paid period has ended. The credit card company would receive their payment, which would be deposited to their account for processing. The customer would then be given a few hours to redeem their Bitcoin debit gift card, and the transaction is complete!
How does Bitcoin debit work with a credit card?
In order to receive a Bitcoin debit card, a customer must complete the transaction through the Bitcoin debit card payment processor. After this, the customer’s balance is placed on their credit card. This is done in order to protect against possible charges by charging money that has yet to be received.
How much does a Bitcoin debit card cost?
The total cost is generally $50