BTC-e allows users to withdraw Bitcoin funds through MasterCard and Visa Cards

BTC-e’s new feature could be a game changer. The Bitcoin exchange is now allowing its users to send funds to almost all Visa and MasterCard debit and credit cards. There are some exceptions, but this means cards issued almost in any country and connected to pretty much any currency.

“We are pleased to announce that for your convenience, we have implemented a new payout system that allows you to send your funds to any cards VISA / MasterCard issued in any country and in any currency”, the company announced. Each request takes two to four business days to be completed and comes with a five-percent fee.

According to BTC-e, “transfer of funds is possible only in US dollars. If your card is not in USD, the money will be converted at the rate of VISA / MasterCard or your bank’s rate (depending on the agreement with your bank)”.

The exchange also explained that the operations will show as “affiliate payment” or “refund affiliate payment” in the credit card statement.

However, MasterCard’s Maestro and Visa Electron cards are not supported by the payout system. Some cards will not allow the transactions due to restrictions imposed by banks: “some credit cards that do 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”.

Image from Wikimedia

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Here are some reviews and ratings for BTC-E: use caution with this exchange! http://bittrust.org/btc-e