What is UPayCard?
UPayCard provides payment solutions for individuals and businesses, facilitating effortless global payments. They provide e-wallets, prepaid cards, and online transfers.
As of January 2019, UPayCard accepts bank wire transfers as well as bank card payments, online payment systems, and crypto wallets. Please refer to the UPayCard website for the full up-to-date list of options for your country.
UPayCard has one of the lowest deposit fees among our payment options and has been safely used in thousands of deposits in 2018.
Deposits initiated in Backoffice:
Fee – 1%
Processed – immediately
Deposits sent to FXChoice as recipient manually from UPayCard accounts:
Fee – 2.9%
Processing time – 1 business day
Withdrawal fee – 0.9%
Min – USD100 or equivalent in other currencies
Get a UPayCard account:
- Sign up on upaycard.com and click the email confirmation link in your inbox
- In your UPayCard account, go to the‘My Profile’ section and open the ‘Documents’ tab. Upload the listed documents (required for deposits into UPayCard to be processed):
- Passport, driver’s license, or national ID card – front and back
- Utility bill, bank statement, or an alternative government issued ID – confirming the address you used when signing up
For each of the documents uploaded, make sure it’s a colour photo or scan and that all four corners of each document are visible.
The full list of documents may be different depending on your country.
The verification process takes up to 3 business days.
Deposit via UPayCard:
Required: the name on the UPayCard account must match the name on the FXChoice account, any third-party payments will not be accepted, and the funds will be returned to the payer.
- Upload funds to your verified UPayCard account via bank transfer (0% UPayCard fees as of Jan 2019), PayPal, Skrill, Neteller etc.
The processing time of wire transfer deposits into UPayCard can be up to 8 business days.
Learn more about their fees on deposits via online payment systems: https://upaycard.com/fees
- Once the funds are in your UPayCard account, you can go back to the Backoffice and submit the deposit form in Deposit by UPayCard.
The funds will show up on your FXChoice trading account immediately, minus the 1% processing fee.
Withdraw via UPayCard:
- the initial deposit was made via UPayCard
- the name on the UPayCard account must match the name on the FXChoice account
- In Backoffice > Withdrawal, select UPayCard, fill in the form and hit the ‘Send Request’ button
- Go to your inbox and click on the withdrawal confirmation link in the email.
Your withdrawal request will be processed by our Finance team during the same business day or, if we’re closed for the day, early the next business day.
The funds will be automatically transferred to your UPayCard account, minus the 0.9% processing fee.
- If you wish to withdraw the funds from your UPayCard balance into your bank account, the instructions by UPayCard as of January 2019 are as follows (we recommend always referring to UPayCard FAQ for up-to-date info).
Click ‘Withdraw Money’ in the left-hand side menu in your UPayCard account and select one of the options available to you: wire transfer, cryptocurrencies etc. (actual methods available may be different depending on your country).
If you wish to withdraw funds from UPayCard to your bank account, you will need to have the bank account verified with UPayCard first. We recommend that you apply for verification beforehand as the process takes up to 3 business days, according to UPayCard’s support team.
Please be informed that we are unable to accept payments from customers from the following countries via UPayCard: Afghanistan, American Samoa, Azerbaijan, France, India,Iran (the Islamic Republic of), Iraq, Israel, Korea (the Democratic Peoples Republic of), Korea (the Republic of), Kosovo, Lebanon, Myanmar, Palestine (State of), Samoa, Syrian Arab Republic (the), Turkey.