Lately, Visa announced it would suspend all crypto debit cards outside of the European Economic Area (EEA).
Now, it seems like MasterCard is to do the exact same thing. Existing cards will remain active for three more months, after which point they will be blocked automatically.
This news affects a lot of companies involved in the cryptocurrency debit card industry. Advcash, for instance, has already informed its customers that it cannot offer plastic and virtual cards to users in countries outside the EEA.
We regret to inform you that starting today due to recent Mastercard policy changes Wave Crest Holdings, our card provider, is unable to offer plastic and virtual cards to users in countries outside the European Economic Area (EEA). At the moment, we do not issue new Advanced Cash cards to countries outside the EEA/SEPA zone. Existing cards issued to non-EEA countries will remain active for 90 more days, after which they will be blocked. We are working to keep offering our cards to countries where we have the most users despite these policy changes. We will be able to tell you more about this at a later stage.We apologise for any possible inconvenience in this regard.
All existing cards belonging to people outside the EEA will remain active for another 90 days. After that time, MasterCard will block the cards automatically. Any remaining funds on one’s card must either be spent or withdrawn through the card issuer before that time. It will become impossible to register for such cards as a non-EEA citizen from now on.