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    Thread: InstaForex Bancard, Brand New Debit Card from Instaforex

    1. #31
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      Quote Originally Posted by ajagbeolegba View Post
      I think the card is a good development for the instaforex company and their clients, it will ease our way of fund transactions. And as regard your query, it has been well stated by the thread starter that the card is domiciled in Euro and US Dollars, but it is in the tradition of the international card to pay you in your local currency when needed it. In other words, it will surely pay you based on the local currency which the ATM machine you are using is issuing. The card will do its conversion by itself.
      Sigh.. Fees upon fees just for use to enjoy our hard earned money. Theres transfer fee, withdrawal fee, conversion fee, etc. I guess the only way for us to enjoy using the card is when we make really big profit


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    3. #32
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      Quote Originally Posted by Warren Bafett View Post
      What trouble you are experiencing mate? Does it comes with high fees? For every $100 withdrawal through ATM in your country, how much it will deduct? Can you also check your Benecard balance through InstaClient Cabinet?
      You'll be charged $2.6 per ATM transaction. You can check all card comissions in this instaforex's page: https://www.instaforex.com/instaforex_benecard
      “Know when you’re getting out before you get in.” Jack Schwager


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    4. The Following User Says Thank You to Greentrader For This Useful Post:

      Warren Bafett (11-17-2017)

    5. #33
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      Quote Originally Posted by Greentrader View Post
      You'll be charged $2.6 per ATM transaction. You can check all card comissions in this instaforex's page: https://www.instaforex.com/instaforex_benecard
      $2.60 per transaction plus any conversion fees you get when you withdraw in your country currency.

      I think its safe to say the fees for every $10 is $4?


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      Warren Bafett (11-17-2017)

    7. #34
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      Quote Originally Posted by Greentrader View Post
      You'll be charged $2.6 per ATM transaction. You can check all card comissions in this instaforex's page: https://www.instaforex.com/instaforex_benecard
      It's still a bit high. But if am earning $1k per month in my trading I wont mind it, just that my earning is not much right now. Currently am using Neteller. But am also looking forward to try the benecard from Instaforex in the near future.
      No Guts No Glory!


    8. The Following User Says Thank You to Warren Bafett For This Useful Post:

      Borneo Scalper (11-20-2017)

    9. #35
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      Quote Originally Posted by Warren Bafett View Post
      It's still a bit high. But if am earning $1k per month in my trading I wont mind it, just that my earning is not much right now. Currently am using Neteller. But am also looking forward to try the benecard from Instaforex in the near future.
      Wouldnt be an issue to you since you are Warren Bafett. The profit you are generating daily would far outshine the rest of us here, especially me who is just a head hunter


    10. #36
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      i checked out the terms and fees for this debit card and i must admit they are good. if you compare to your local card fees you will notice they are much similar so if we have money in our real i** account we can use this card to cash out our profits. i still have long way in my career to achieve that but this option definitely attracts me and many other traders.


    11. #37
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      Quote Originally Posted by Borneo Scalper View Post
      $2.60 per transaction plus any conversion fees you get when you withdraw in your country currency.

      I think its safe to say the fees for every $10 is $4?
      There's no info in the site about how much they charge in currency conversion fees. But for EU countries there's no problem because its the same currency...

      Quote Originally Posted by normarster View Post
      i checked out the terms and fees for this debit card and i must admit they are good. if you compare to your local card fees you will notice they are much similar so if we have money in our real i** account we can use this card to cash out our profits. i still have long way in my career to achieve that but this option definitely attracts me and many other traders.
      My local card has no membership fees, no fees for ATM transactions in EU countries. This card its probably good for some countries outside EU.
      “Know when you’re getting out before you get in.” Jack Schwager


      Bangla Forex School


    12. #38
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      Quote Originally Posted by Greentrader View Post
      There's no info in the site about how much they charge in currency conversion fees. But for EU countries there's no problem because its the same currency...



      My local card has no membership fees, no fees for ATM transactions in EU countries. This card its probably good for some countries outside EU.
      Conversion fees will be charged by the bank / atm where you withdraw your cash as your card will most definitely be USD denomination like your trading account. Having said that, even when you withdraw in EU countries, you will still be charged conversion USD > EUR


    13. #39
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      Quote Originally Posted by Borneo Scalper View Post
      Conversion fees will be charged by the bank / atm where you withdraw your cash as your card will most definitely be USD denomination like your trading account. Having said that, even when you withdraw in EU countries, you will still be charged conversion USD > EUR
      You don't need to be charged with conversion USD > EUR. You can open a EUR account in I** and order a Euro card. The problem is the fees for membership and ATM fees which are not competitive in EU countries.
      “Know when you’re getting out before you get in.” Jack Schwager


      Bangla Forex School


    14. #40
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      Quote Originally Posted by Greentrader View Post
      You don't need to be charged with conversion USD > EUR. You can open a EUR account in I** and order a Euro card. The problem is the fees for membership and ATM fees which are not competitive in EU countries.
      That will work well for EU residents and help them to save conversion rate, unlike people from the Asian countries. For the Asian countries, the only way to use a card will only be if you can make really good profit to help cover the fees


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