Wirex Card Review (2020)
Ease of Use
I’ve been impressed by Wirex.
It’s a crypto-friendly account, which has EXTREMELY competitive fees, provides the market rate exchange rate, and a good user interface. Wirex now supports Bitcoin (BTC), Ethereum (ETH), Ripple (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) 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 see why I love it.
Advantages & Disadvantages
- Quick verification (< 5mins).
- 4.4 Trustpilot rating (6000+ reviews)
- Hold a UK FCA e-money licence.
- 24/7 customer support.
- Buy and sell Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Waves (WAVES), Wollo (WLO), Dai (DAI), Nano (NANO), Stellar (XLM), and Wirex Token (WRX) without getting ripped off.
- Makes buying and sell supported cryptocurrencies really quick and easy.
- Up to 1.5% cashback (in Bitcoin) when you use your Wirex card in-store.
- Contactless Visa Debit cards (issued and delivered for FREE).
- Browser-based and mobile apps (iOS & Android).
- Crypto-friendly business accounts are available too.
- £1/month account maintenance fee.
- It’s possible to buy and sell bitcoin (BTC) cheaper elsewhere.
- The revamped desktop interface looks terrible and feels harder to use.
- Wirex cards aren’t accepted in some places (but that is rare).
Who Are Wirex?
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 3 million active users across over 150 countries, with more than 3000 new registrations every single day.
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.
- Store Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Waves (WAVES), Wollo (WLC), Dai (DAI), Nano (NANO), Stellar (XLM), and the Wirex Token (WRX) in their web wallets.
- Send and receive from/to these cryptocurrency web wallets.
- Buy and sell supported cryptocurrencies with GBP, EUR, and other fiat currencies at competitive rates (about 2.5% in fees).
- Wirex’s GBP card is a Visa Debit (EUR/USD cards are prepaid). You can use it anywhere that Visa is accepted, which is at more than 54 million outlets and ATMs around the world.
- Contactless support.
- Designated account number and sort code.
- Spend wherever Visa Debit cards are normally supported (some merchants might decline it).
- Earn up to 1.5% cashback (in Bitcoin!) when you use your Wirex card in-store.
Wirex fully supports 37 countries, which includes the UK, Europe, and Singapore.
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 (or one that you’re visiting) here.
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)
- Nano (NANO)
- Stellar (XLM)
- Wirex Token (WRX)
If you live outside of the EU, you might not have access to all these cryptocurrencies. Check out this post for a list of cryptocurrencies supported in your country.
Supported Traditional (Fiat) 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)
- MXN (Mexican Peso)
- SGD (Singapore Dollar)
You won’t be able to add USD to your Wirex account if you’re not a resident in an EU country.
- Credit/debit cards (3D Secure)
- UK bank transfer
You can also withdraw GBP from your Wirex account via a UK bank transfer. These are processed through the Faster Payments Service (FPS), which means they should be processed quickly. For whatever reason, there’s not a reference field – which limits the usefulness of this.
If you’re using a credit or debit card, you can top-up your account with the GBP equivalent of $5000 per day. If you use a UK bank transfer, there’s no cap on how much you can deposit.
The maximum card balance is £15000/€16000/$20000, which seems more than enough. Your account balance (separate from card balance) is uncapped.
Deposits with a debit or credit card are instant, but my bank transfers weren’t credited for about an hour (even though use the FPS). I’ve found that it’s quicker and easier to just use your debit card.
All EUR accounts are linked with an IBAN. This means that EU residents can now fund their EUR accounts with a SEPA transfer too.
Wirex Card Fees
Wirex card fees are reasonable and competitive.
Setting up a Wirex account is FREE and getting a physical card issued and delivered is also FREE. There are also no domestic transaction fees and no loading fees.
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 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 Limit||Charge|
|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||$5000 per day (equivalent in local currency)|
|Maximum card balance||£15000/€16000/$20000|
|Daily Spend Limit||£7500/€8000/$10000|
|Daily Transfer Limit (UK bank transfer)||£3000 per day|
I wouldn’t make a habit of withdrawing cash with the Wirex card, as the ATM charge will add up.
If you need cash, I’d just transfer the funds to my main bank account and then withdraw at an ATM via that (without paying any fees).
More information available here.
Buying Bitcoin With Wirex
Wirex has competitive rates (and low fees) in the UK and Europe for Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and all other supported cryptocurrencies.
Wirex offers wholesale exchange rates when you buy Bitcoin (BTC), which are very close to the real BTC to GBP exchange rate. However, there is a 1.5% hidden in the crypto exchange rate and you’ll pay a fixed fee of 1% on top of that for any crypto purchases you make.
However, these alternatives aren’t as convenient. The closest competitor which offers equivalent convenience is Solidi. Check out my Solidi review for the lowdown on them.
It’s possible to buy and send supported cryptocurrencies on Wirex without ordering a Wirex card too. If that’s all you want to do, check out this post.
Wirex Token (WXT)
Wirex Token (WXT) is a utility token issued by Wirex.
If you hold a decent amount of this inside your Wirex account, you’ll unlock benefits such as:
- Reduced fees when you buy, sell, or transfer cryptocurrency.
- Enhanced cashback when you shop in-store.
- Reduced account management fees (coming soon).
- Reduced ATM fees (coming soon).
This is how much you need to unlock these benefits:
|Amount||Equivalent Cost||Fee Discount||Enhanced Cashback|
They’re planning to add more benefits for Wirex Token (WRX) holders in the near future. Check out this post for more details.
I think Wirex’s browser interface looks terrible, but it does the job.
Wirex has quite obviously developed the web interface around the mobile. The mobile version works and feels a lot better though.
Coinbase Card is another half-decent crypto debit card available in the UK.
It offers a great user experience, allowing you to spend directly from your cryptocurrency balance.
But the fees suck. Every single time you make a purchase, you’ll be charged a cryptocurrency exchange fee of 2.49%. Ooof! No thanks.
To find out more, check out my Coinbase Card review.
Another option is the MCO Visa Card, issued by Crypto.com.
It offers cashback on all your spending (up to 5%) and some other juicy benefits (like 100% cashback on Spotify, Netflix, and Amazon Prime). It’s currently available in the UK, EU, US, and parts of Asia-Pacific.
Check out my Crypto.com review to learn more.
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 right now.
- You can buy and sell Bitcoin (BTC) and other supported cryptocurrencies without getting ripped off (about 2.5% in fees).
- It’s convenient and beginner-friendly. You get can going in no time at all.
- Wirex GBP Visa Debit cards are accepted anywhere a normal Visa is (which is nearly everywhere).
- Cashback on in-store purchases starts at 0.5%, but you can get that up to 1.5% depending on how much Wirex Token (WRX) you’re holding.
Want to give Wirex a shot?
Thanks for reading this Wirex review!
Have a question about Wirex? Or do you want to share your own experience?
Comment below and let me know!