Luis Clark
Luis Clark
Luis is a personal finance expert who has been passionate and writing about crypto for more than five years.
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    Wirex Card Singapore Review 2023: Tiers, Perks and Benefits

    Wirex Card Singapore Review

    Wirex Card Singapore Review: Our Opinion

    From our extensive research, the Wirex card offers investors a simple way to spend their crypto funds. This card offers numerous benefits. It has zero issuance fees, offers standard cryptoback rates and free international ATM withdrawals.

    As a result of its unrivalled functionality and adaptability, the Wirex card is the ideal travel companion for consumers from Singapore travelling overseas for business or pleasure.

    An Overview of Wirex Card

    With the advent of digital technology and the adoption rate of cryptocurrencies increasing, crypto cards provide a convenient way to spend digital currencies. The Wirex card, which is owned by the Wirex crypto platform, is one of the leading cards that offer an innovative payment option.

    Wirex is a regulated organisation and worldwide digital payment platform that enables individuals to manage and use digital and traditional currency easily. Founded in 2014 by CEOs and co-founders Pavel Matveev and Dmitry Lazarichev, the exchange was designed to make the digital economy accessible worldwide.

    The firm is based in London, with offices in Singapore, Kiev, Toronto, Dallas, and Atlanta.  The company created the first contactless payment card in 2015, enabling customers to use both crypto and traditional currencies in everyday transactions.

    Wirex’s mission is to close the gap between all currencies, with the ultimate goal of bringing about a cashless world and the widespread adoption of the digital economy.

    Pros

    Cons

    Wirex Card: What Is It?

    what is wirex card

    The Wirex Visa card enables investors to spend multiple crypto and traditional currencies instantly. Users can simply add their preferred cryptocurrency to their Wirex Wallet to begin making purchases in locations accepting Visa. Over 61 million merchant locations worldwide accept the card in more than 150 different currencies. However, only a total of 22 currencies for both fiat and crypto, are available to Singaporeans.

    The Wirex card is suitable for crypto enthusiasts as it offers several benefits benefits like 

    • Up to 2% in Cryptoback incentives 
    • Automatic conversion of cryptocurrencies into local currency at the point of sale using the best live and Over-the-Counter (OTC) rates
    • Free ATM withdrawals.

    With this, customers can save up to 3% due to the fact that are no exchange fees on FX. This makes the digital economy more accessible than ever.

    Wirex Card: How Does It Work?

    The Wirex card is connected to the exchange’s borderless payment platform. During the payment process, the individual will be given the option of selecting the preferred currency, and the card will automatically convert the funds. This conversion is done using the best live and Over-the-Counter (OTC) rates available.

    Benefits & Perks

    benefits and perks wirex

    The Wirex Card offers various benefits for holders. This includes:

    • Up to 3% on international purchases when crypto is converted into the location’s local currency.
    • Cryptoback rewards of up to 2% back in WXT (Wirex native token) on every in-store or online purchase. 
    • Up to 12% in annual savings for card holders hold their WXT for 180 days.
    • Up to 1,000 WXT rewards for friends and family referrals.

    Cryptocurrencies Supported

    Singapore residents have access to 22 crypto and fiat currencies, some of which include:

    • Bitcoin (BTC), 
    • Ethereum (ETH), 
    • Litecoin (LTC), 
    • XRP, 
    • Stellar (XLM), 
    • Wirex Token (WXT), 
    • Dai (DAI), 
    • Nano (XNO), 
    • USD Coin (USDC), 
    • Tether (USDT) etc.

    Fees Explained

    Fees for the Multicurrency card are generally not applicable. However, a few come with little to no cost. We provide a detailed breakdown of the Wirex Card fees below:

    Wirex Physical Card

    No Cost

    Wirex Card Delivery

    No Cost

    Wirex Express Card Delivery

    S$5 – S$25

    Annual Fees

    No Cost

    Card Maintenance

    No Cost

    Card Replacement

    No Cost

    External Transfer

    Varies per crypto

    ATM Withdrawal Limit

    S$400 monthly, with 2% fees applicable

     

    Overall, the Wirex card is free to purchase with little to no additional fees.

    Different Card Holder Tiers

    The Wirex Visa card is available in three different tiers for users, which are: Standard, Premium, and Elite. Although the Standard tier is free, the others come with a monthly price.

    An overview of each card is provided below:

    Price

    Standard: SG$0/month

    Premium: SG$9.99/month

    Elite: SG$29.99/month

    X-tras

    Standard

    • 0.5% Cryptoback(in store)
    • Merchant Offers

    Premium

    • 4% annual Savings Bonus on WXT balance
    • 1% Cryptoback (in store)
    • 1% Cryptoback (online)
    • Merchant offers
    Elite
    • 12% annual Savings Bonus on WXT balance
    • 2% Cryptoback (in store)
    • 2% Cryptoback (online)
    • Curated elite offers from merchant partners

    Features

    Standard

    • Free multicurrency account
    • Free fully featured cryptocurrency wallets
    • Free Wirex card
    Premium
    • Free multicurrency account
    • Free fully featured cryptocurrency wallets
    • Free Wirex card
    Elite
    • Free multicurrency account
    • Free fully featured cryptocurrency wallets
    • Free Wirex card

    Market-leading rates

    Standard
    • Spend in over 150 currencies at live exchange rates
    • Unlimited live exchange rates
    • Unlimited Access to OTC (Over-the-Counter) crypto exchange rates
    Premium
    • Spend in over 150 currencies at live exchange rates
    • Unlimited live exchange rates
    • Unlimited Access to OTC (Over-the-Counter) crypto exchange rates
    Elite
    • Spend in over 150 currencies at live exchange rates
    • Unlimited live exchange rates
    • Unlimited Access to OTC (Over-the-Counter) crypto exchange rates

    Payments

    Standard

    • Pay at 61m locations around the world
    • UNLIMITED Cryptocurrency external transfers

    Premium

    • Pay at 61m locations around the world
    • UNLIMITED Cryptocurrency external transfers

    Elite

    • Pay at 61m locations around the world
    • UNLIMITED Cryptocurrency external transfers

    Withdrawals

    Standard

    • No ATM fee withdrawals up to SG$400 per month, then 2% fee

    Premium

    • No ATM fee withdrawals up to SG$400 per month, then 2% fee

    Elite

    • No ATM fee withdrawals up to SG$400 per month, then 2% fee

    Subscription Type

    Standard

    • Free, unlimited

    Premium

    • Annual, 90-day break clause

    Elite

    • Annual, 90-day break clause

    Opening an Account

    To get started with the visa card, new users will have to register for an Wirex crypto account on the Wirex website. Here are the steps to follow:

    Sign Up

    sign up wirex singapore

    Head on the Wirex official website and click “Register”. Provide information on country of residence, email, create a password and click continue. Afterwards, a confirmation email will be sent. Click the link in the mail and validate the provided information.

    Verify Account

    After signing up, users need to provide valid government issued documents which include passport or driver’s licence to validate their account. Simply upload the necessary documents and take a selfie to complete the verification process. Then click “Next”

    Add Funds

    Users can fund their accounts with traditional currency or crypto through a bank transfer or local cards. To add funds, look for the “Account” tab on the left hand side and click on it. Select the account to add funds to and click the “Add Funds” button. Next, choose the external account or linked card that will be used to deposit funds.

    For those who picked a linked card, they can complete the transaction within the Wirex app. However, for those who chose an external crypto or currency account, they will be provided with the necessary information on how to send funds to their Wirex account from the external platform.

    They will receive the funds once the transaction is completed.

    Order Card

    Customers can order a card only after the Wirex account has been successfully validated. However, a certain minimum balance is required in order to obtain a card.

    Once this is complete, an order can be put through Singpost via Standard delivery for free or DHL for Express delivery.

    Wirex Card App

    Wirex app is available for download for both iOS and Android users. With this, users can carry out all functions that are possible on the website on the go. This app can be used to order Wirex cards, manage their accounts, and also block their cards in case they get stolen or compromised.

    A password, face, or fingerprint identification secure for the Wirex mobile app. However, users have reported occasional bugs and verification issues.

    Customer Satisfaction

    Good customer service is essential, as it helps businesses inspire customer loyalty and build trust. Wirex claims users can receive 24/7 customer service. However, this service is only available via community support or the in-app live chat function/help centre, where users can send a message.

    In contrast, Wirex’s third-party reviews paint a different picture. Numerous users have complained that Wirex’s customer care needs to be improved because of its slow response time and inability to fix problems promptly.

    Is Wirex Card Right for You?

    The Wirex Multicurrency Card is ideal, especially because it enables a seamless point of sale exchange for real-life crypto spending. And although users receive numerous cryptoback rewards for online and in-store purchases, buying the Wirex card is entirely based on specific needs at the time. 

    The Wirex card is the ultimate travel card, designed for individuals who are always on the go. The perk of having this card is that it automatically converts to the local currency using the best possible live & Over-the-Counter (OTC) rates when users pay, saving them up to 3% on overseas transactions with zero fees.

    This is a game changer for every investor in the digital payments space who actively trades crypto everywhere.

    Final Thoughts

    Investors who wish to “live off crypto” will appreciate the Wirex card because it allows them to utilise virtual money wherever card payments are accepted. Featuring over 150 currencies, it allows users to make payments in their local currency automatically – with zero exchange fees.

    Wirex, however, only offers a limited number of crypto assets to investors, which might be an issue for individuals who prefer a lot more crypto varieties.

    FAQ

    Most frequent questions and answers

    The Wirex card is free to order, and anyone can simply order by creating an account on Wirex via web or mobile. After verifying their account, they can order from the dashboard by selecting “order card.”

    Wirex cards are accepted at ATMs that support Visa. However, there is a S$400 withdrawal limit, after which a 2% fee is applied.

    Traders can link their Wirex card to Paypal. They can do this by logging into their PayPal account and adding the Wirex card in the credit and debit cards section.

    After this, users should click on their PayPal balance, select “Withdraw money,” and choose a Wirex card. Then, click Next and enter the desired amount. Users’ funds will arrive shortly and can then be spent in real life with their multicurrency Wirex card.

    Wirex is based in the UK, with research and development centres in Wroclaw, Kyiv, and Lviv, and offices in Atlanta, Dallas, Dublin, Vilnius, Zagreb, and Singapore.

    In Singapore, Bitcoin is classified as property. Therefore, it can be legally bought from Bitcoin ATMs, exchanges, and even some banks and used as payment.

    We always try to provide the most accurate information available, and make sure our team follow through.
    If you want to know more about our Crypto Exchanges Review Methodology follow the link below

    Skrumble.com provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual’s needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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