Wirex mobile app (in the wild!)

Wirex Review (2019)

Wirex Card
  • Ease of Use
  • Customer Support
  • Payment Options
  • Speed
  • Fees
4.6

Summary

I’ve been impressed by Wirex.

It’s a crypto-friendly account, which has minimal fees, EXTREMELY competitive exchange rates (less than 0.5% above market rate), and a good user interface. Wirex now supports bitcoin, ether, XRP, and an ever-growing list of other cryptocurrencies.

It’s definitely the best bitcoin debit card available in the UK and Europe.

Wirex is a crypto-friendly currency account. It allows you to store, transfer, and exchange between cryptocurrencies (e.g., bitcoin & XRP) and fiat currencies (i.e., GBP, EUR, & USD).

With Wirex’s GBP Visa Debit card, you can also shop in-store and online.

Is it the best bitcoin debit card in the UK and EU? Check out this Wirex review to find out more.

Advantages & Disadvantages

Advantages

  • Quick verification (< 5mins).
  • 4* Trustpilot rating (700+ reviews)
  • Hold a UK FCA e-money licence.
    • Only two other crypto and fiat payment platforms hold this.
  • 24/7 customer support.
  • Buy and sell bitcoin (BTC), ether (ETH), litecoin (LTC), ripple (XRP), waves (WAVES), wollo (WLO), and dai (DAI) at VERY competitive rates.
  • Cashback (0.5% in satoshis) when you use your Wirex card (in-store only).
  • Contactless Visa Debit cards (issued and delivered for FREE).
  • Browser-based and mobile apps (iOS & Android).
  • Excellent interface.
  • Provide crypto-friendly business accounts too!

Disadvantages

Who Is Wirex?

Pavel Matveev and Dmitry Lazarichev.

Wirex was established in late-2014 by Dmitry Lazarichev and Pavel Matveev. They’re based in the UK but have offices around the world. They were previously known as ‘E-Coin’ but rebranded in 2016.

Wirex has over 1.5 million users across over 130 countries.

To sum up their mission statement, Wirex is aiming to.

  • Expand the availability of banking services.
  • Get more people involved in the ongoing financial revolution.
  • Remove the geographic limitations of finance.

Main Features

Crypto Features

Wirex’s bitcoin (BTC) wallet interface.

  • Store bitcoin (BTC), ether (ETH), litecoin (LTC), ripple (XRP), waves (WAVES), wollo (WLC), and dai (DAI) in their web wallets.
  • Send and receive from/to these cryptocurrency web wallets.
  • Buy and sell supported cryptocurrencies with GBP, EUR, and other supported fiat currencies at the most competitive rates on the market.

Card Features

Wirex’s account dashboard.

Supported Countries

Wirex fully supports 31 countries, which includes the UK and Europe.

In the near future, Wirex cards will be available in the US too.

There’s partial support (i.e., without card features) in dozens of other countries. You can check what features are available in your country here.

What countries are fully supported by Wirex

  • Austria
  • Belgium
  • Bulgaria
  • Croatia
  • Cyprus
  • Czech Republic
  • Denmark
  • Estonia
  • Finland
  • France
  • Germany
  • Greece
  • Hungary
  • Iceland
  • Ireland
  • Italy
  • Latvia
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Malta
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Romania
  • Slovakia
  • Slovenia
  • Spain
  • Sweden
  • United Kingdom

Supported Cryptocurrencies

You can buy, sell, and transfer the following cryptocurrencies on Wirex:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)
  • Waves (WAVES)
  • Wollo (WLO)
  • Dai (DAI)

Supported Traditional Currencies

In addition to GBP, EUR, and USD accounts, Wirex now supports the following traditional currencies:

  • AUD (Australian Dollar)
  • CAD (Canadian Dollar)
  • CHF (Swiss Franc)
  • CZK (Czech Koruna)
  • HKD (Hong Kong Dollar)
  • JPY (Japanese Yen)
  • Mexican Peso (MXN)
  • SGD (Singapore Dollar)

You can activate these additional currencies by:

  • Go to Preferences > Accounts.
  • Scroll down to Inactive Accounts.
  • Select the + symbol next to the currency you want to add.
  • Select Home in the left sidebar and you’ll see that currency in the Accounts Overview.

Payment Methods

You can fund your GBP account with:

  • Credit/debit cards (3D Secure)
  • UK bank transfer
  • SWIFT

I wouldn’t recommend using a credit card, as it’ll probably be considered a cash advance (not good). It’ll be simpler (and cheaper) to just use a debit card.

As of February 2019, you can also withdraw GBP from your account via a UK bank transfer. These are processed through the Faster Payments Scheme, which means they should be processed quickly.

If you’re using a credit or debit card, you can top-up your account with £3000/€3000/$3000 per day.

This limit doesn’t apply to UK bank transfers. However, the maximum account balance is £15000/€16000/$20000. The transfer might get bounced if you try to deposit more than that.

Deposits with a debit or credit card are instant, but my bank transfers weren’t credited for about an hour (even though they support Faster Payments). Unless you’re looking to deposit more than £5000, it’s quicker and easier to just use your debit card.

All EUR accounts are linked with an IBAN. This means that European residents can now fund their EUR accounts with a SEPA transfer too.

Fees

Wirex Card Fees

Wirex card fees are reasonable and competitive.

Setting up a Wirex account is FREE.

You can also get a physical card issued and delivered for FREE.

Unfortunately, there is a £1/€1.20/$1.50 per month account management fee. It’s not a significant amount, but it’s still an annoying financial consideration. Regardless of your account activity, you’ll pay this account management fee.

These are the other Wirex card limits and fees I picked out…

Fee or LimitCharge
ATM charge (in Europe)£1.75/€2.25/$2.50
ATM charge (outside Europe)£2.25/€2.75/$3.50
ATM withdrawals£250/€250/$250 per day
Cashback (in-store)£50 per day
Credit/Debit card top-up£3000/€3000/$3000 per day
Maximum card balance£15000/€16000/$20000
Daily Spend Limit£7500/€8000/$10000
Daily Transfer Limit10 BTC

I wouldn’t make a habit of withdrawing cash with the Wirex card, as the ATM charge will add up.

If I needed the raw cash, I’d just transfer the funds to my main bank account, and then withdraw via that (without paying any fees).

More information available here.

Buying Bitcoin With Wirex

Wirex offers the most competitive rates in the UK and Europe for BTC, ETH, XRP, and all other supported cryptocurrencies.

Although it varies, Wirex’s BTC exchange rate is usually about 0.3% – 0.5% above the real BTC to GBP exchange rate. It’s possible to get equivalent or slightly better rates elsewhere, but alternatives are nowhere near as convenient as Wirex.

It’s possible to buy and send supported cryptocurrencies on Wirex without ordering a Wirex card. If that’s all you want to do, check out this post.

How can I check how competitive Wirex’s exchange rate is?

When you’re buying bitcoin (BTC) with Wirex, it’ll clearly show you the exchange rate. However, the competitiveness of this exchange rate isn’t explicit.

To understand how competitive Wirex prices are, check out BittyBot. It ranks the exchange rate offered by bitcoin (BTC) sellers in the UK (cheapest first).

When you hover over ‘Price’, you’ll see a little pop-up.

This shows you how much the offered exchange rate is above the BPI (or Bitcoin Price Index).

There’s no bitcoin (BTC) broker offering better rates. Wirex’s rates are fluctuating between 0.3% and 0.5% above the market rate.

Interface

Wirex’s browser and mobile app interface are excellent.

It’s clean, intuitive, and easy-to-use.

Nothing more to say about that. It’s awesome.

Summary: Best Bitcoin Debit Card?

When I first heard about Wirex, I wasn’t expecting much.

But I was wrong. Wirex 3.0 is awesome.

Without a doubt, it’s the best bitcoin debit card available in the UK and EU right now.

Why?

  • You can buy and sell bitcoin (BTC) and other supported cryptocurrencies at VERY competitive rates.
    • Prices are less than 0.5% above the BPI (which is really good)
  •  It’s convenient and beginner-friendly.
  • Wirex GBP Visa Debit cards are accepted most places I tested.
  • 0.5% cashback on your purchases is competitive.

Want to give Wirex a shot? Signup (and get verified) in less than 5 minutes.

Have any questions?

Let me know in the comments sections below!

10 Comments

  1. Sarah 29th September 2018
    • Dean 29th September 2018
  2. Dave 7th March 2019
    • Dean 8th March 2019
    • Dean 9th March 2019
  3. David Cricketer 9th March 2019
    • Dean 10th March 2019
  4. Dave 10th March 2019
  5. Dave 14th March 2019
  6. Dave Cricketer 15th March 2019

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