FAQ

These are some of our frequently asked questions. If you don't see your question answered here, direct message us on Telegram at @BitooFinance.

Can I receive refunds on the card?

Yes. If you make a purchase, and the merchant refunds it, the instant we receive the refund, it's applied to your card.

All Bitoo cards (reloadable or non-reloadable) accept refunds the same way as any other card on the Visa network. Any delay receiving the refund is solely due to the merchant; some merchants take up to 7 business days to process refunds.

How do I know if this business/merchant accepts Bitoo cards?

Check our merchant database at: bitoo merchants. That contains user-driven information on success rates, split by Bitoo card type. Check for your desired business/merchant there.

If we don't have results for it, get a card and give it a try, so it can be added to the database. If it should work and it doesn't, we will give you a full on-chain refund.

What's the ETA on support for international cards?

Our international (INTL) non-reloadable (NR) card is now available in beta.

Please note that balance updates on the card are done manually by requesting updates from support on the Bitoo Finance Telegram. @BitooFinance

Can I get a refund for my non-reloadable card?

Unfortunately we can't offer refunds for non-reloadable cards.

We can't pull value from non-reloadable cards in the same way we can with reloadable cards. Our issuers make money on the "breakage", which is the leftover funds on a card when it expires.

Previously, to issue refunds, we would charge the card just like we are a regular business. But, because our charge account is just Bitoo Finance charging Bitoo Finance cards, it is incorrectly, but understandably, suspected by each merchant processor as money laundering.

Does it support 3D Secure (3DS)?

No. 3D Secure verifies the identity of the cardholder, so it is not compatible with our business model.

What are the tax obligations?

Bitoo vehemently encourages all users to pay their taxes on cryptocurrency. You are required to report gains and losses on your tax return when selling crypto assets. Speak to your tax advisor to better understand how your card impacts your tax situation.

What are the spending limits?

In the United States and in Canada, the spending limit is $1,000 per person, per day. This limit is set by FinCEN, the regulatory body for open loop prepaid access cards, and is not changeable.

Is there a referral system?

Absolutely. After you make your first deposit, you can refer friends and colleagues and receive 50% of their deposit fees for the entire use of their card.

Can I withdraw from the ATM?

ATM withdrawals are considered a "transfer of value" and are not permitted.

Can I top-up my cards in the Chrome Extension?

Unfortunately, all of our cards in the extension are non-reloadable. Meaning, once you create the card, we cannot deposit more to it.

What are the minimum deposits?

For the web reloadable card minimum deposit is $10. For the extension non-reloadable cards, minimum card size is $5.00.

What if the merchant doesn't accept Bitoo cards?

Some merchants don't accept prepaid cards such as ones from Bitoo Finance. If possible, add your Bitoo card to another service like PayPal, then pay the merchant through that service.

Can this card be spent with Stripe?

Yes. The processor, such as Stripe, has little to no basis on the success of spending your Bitoo Finance cards.

Is my name on the card? Can I choose the name?

Unfortunately the name on the card has to be Bitoo Finance.

When I use my card at a merchant (say, Amazon), what do they see?

From Amazon or any other merchant's perspective, it's just a regular prepaid card. Charges and refunds happen as normal.

Can I use Bitoo for all purchases?

Besides the $1,000 daily limit, Bitoo can be used for all other purchases except for purchasing prepaid access instruments such as gift cards or other debit cards.

Can I get a physical card?

Unfortunately, our current issuers don't support physical cards.

Which networks are supported?

Ethereum, Arbitrum, Polygon, Optimism, Base and Solana.

How does Bitoo Finance operate in a legal and compliant manner?

Bitoo Finance sells open and closed loop prepaid cards and gift cards.

Do you support Apple, Google, or Samsung Pay?

We support Apple, Google and Samsung Pay in most countries, with the notable exception of Canada.

How can I use Solana if MetaMask doesn't support it?

Use a Solana wallet, such as Phantom, to connect your Solana address with your MetaMask address on Bitoo.

Can I use Bitoo on mobile?

Absolutely. Simply use Bitoo using the browser feature in the Metamask app.

Do I need to use the Bitoo website for deposits?

Nope. Simply send your stablecoins to your deposit address from your Bitoo-connected wallet, and they will be automatically deposited to your card.

Which coins are supported?

Bitoo only supports USDT, USDC, and DAI on EVM networks.

Can I deposit fiat onto the Bitoo card, like a debit card?

Unfortunately, fiat deposits onto the card are not supported.

How are chargebacks/disputes handled?

Unfortunately due to the final nature of blockchain transactions and privacy preservation, we cannot support chargebacks.

How does Bitoo make money?

For some cards, we have a deposit fee. For some non-reloadable cards, there is no fee, because we purchase the card at a discount and sell it at face value.

Is it possible to reduce the fees?

Unfortunately, no. Currently, the 6.8% Bitoo fee is the lowest possible.

Does the stablecoin choice matter?

No. As soon as you deposit your stablecoin, it's instantly exchanged for U.S. dollars and put on your card.

Is Bitoo operational?

Bitoo Finance is operational. We issue reloadable and non-reloadable cards in the United States and Canada.

What are the fees?

The fees vary by product:

When will I get my withdrawal?

Withdrawals are manually reviewed for security and to manage gas fees. It will be completed within 24 hours.

The merchant declined my card, but took my money. Where is it?

They will send the refund back to your card. It will be immediately applied to your card balance when our issuing bank receives the refund.

I made one purchase, but was charged twice.

Occasionally, businesses with recurring billing may charge prepaid cards double the amount of the service, then refund one of the charges.

Can I change my balance from web to extension, or vice-versa?

Absolutely. It's currently a manual process, but we are happy to do it.

My balance on the website isn't showing in the extension. (or vice-versa)

For the time being, the balances between the extension and the website are not merged.

I added my card to Apple Pay, but it's getting declined.

Currently, our issuer has an ongoing issue with Apple Pay spending in some countries.

I can't connect Exodus (or another wallet) to Bitoo.

Unfortunately, at the moment, we only support MetaMask.

Can I deposit from another bank account or card?

Unfortunately all deposits need to come from on-chain transactions.

The Solana deposit option doesn't show for me.

Currently, Solana deposits are only for existing users.

Can cards be issued through an API?

Unfortunately we do not offer API access at the moment.

Why isn't there a Bitoo coin?

We are located in the United States, which has fairly aggressive views of ICOs.

Why can't I deposit Bitcoin, ETH, MATIC, or some other non-stable asset?

We currently just accept stable coins, which makes ledger management much simpler.

Adding to PayPal fails.

In general, it increases acceptance rate.

What's my card PIN?

None of our cards have an associated PIN.

Do I pay gas fees on deposit or on every card transaction?

You just pay gas fees when you deposit onto the card.

Which countries are supported?

The supported country varies by card type based on the physical location of the transaction.

Why does the deposit form say I have zero balance?

In most cases, it's a misunderstanding about what coins are in your wallet.

What's the maximum load on a card?

Reloadable or non-reloadable U.S. cards: $1,000 USD.

Why do transactions fail at U.S. gas stations?

This is due to the unique card authorization flow for U.S. gas pumps.

How do I access Bitoo Finance on my phone?

MetaMask also has an iOS and Android app.

Can I use the United States cards outside the United States?

No. Do not try to use the United States or Canada cards outside either respective country.