The BlockCard™️ VISA Debit Card is available now to all users in the United States, and we are preparing to launch internationally soon!
All users who meet the minimum balance requirement can click on the "Select Card" button on your account dashboard which will allow you to complete KYC and activate your card. Once you have completed KYC authentication, your virtual card (with full VISA card number and expiration/CVV) will be available immediately in your account dashboard while your physical card is sent to you in the mail, arriving in 7 to 10 business days. Please note that account will show as 'inactive' until KYC is completed and your card is activated, and that accounts currently require a minimum balance of at least $10 in order to complete the KYC identity verification process (we recommend at least $50-100 to start with).
The minimum balance is used to protect your account against the volatility of crypto markets — your card spendable balance is the amount of your balance exceeding $10, and any amount up to your full balance may be withdrawn directly as TERN at any time you wish. (The minimum balance requirement was formally $100, but as of January 2020 it has now been reduced to just $10, thanks in large part to the feedback from our user community. We sincerely appreciate your suggestions and enthusiasm for BlockCard while we continue rolling out the product and features!)
Your BlockCard has a VISA card number with expiration/CVV that allows you to make purchases online and anywhere else VISA is accepted, as well as debit an ATM transactions. BlockCard is also enabled for use with Apple Pay, Google Pay, and Samsung Pay so that you will be able to use BlockCard anywhere that accepts those forms of payment as well. Mobile pay options can be used with either your virtual card or physical card, so now you have the option to pay with crypto wherever you go (even if you don't have your card with you).
For information on how to deposit, please view this solutions article.
Initial rollout will be in the United States, and other countries will follow pending partnership with local banks on a country by country basis. We can't specify an exact timeframe at the moment, but the goal is to scale to international markets as quickly as possible.
What are my options and costs?
Plastic BlockCards cost $10. Metal BlockCards will be available soon and will cost $50 including delivery. When the metal card becomes available, existing plastic card users will be able to upgrade – so you can start with the plastic card now if you wish and easily upgrade later. Virtual BlockCards are free and will be available on your account dashboard once you have completed KYC and activated a physical card.
What documents are required for KYC identity verification?
Our banking partners have their own KYC criteria and the required documents will be requested when you begin the process — in the United States, you can complete the process with your Social Security Number and either your Passport or Driver's License number. Documentation must meet their standards based on your local state and government laws. If you do not pass KYC the first time you have the option to submit additional documentation and try again.