Advcash Review: How Do You Make Fiat and Crypto Payments?

Faster, simpler, and more efficient payment solutions make all the difference in a rapidly developing world. Advcash emerges as a user-friendly platform connecting traditional money and the exciting world of cryptocurrencies.

In this Advcash review, we will explore how the platform simplifies transactions, making it easy for users to navigate the complexities of both fiat and crypto payments. Discover the features, functionalities, and unique advantages that make Advcash a go-to solution in the modern financial scene.

Key Takeaways

• Advcash is one of the best global payment service platforms for businesses and individual users.
• This platform is reputable for its payment processing and automation features. It is also well known for its fiat swapping and peer-to-peer crypto trading abilities.
• Advcash is not available for U.S.-based clients.

Advcash Overview

What Is Advcash?

Advcash is a global payment platform that provides fiat and crypto payment services for individuals and businesses.

The platform combines a range of payment tools, from e-wallets Advcash cards, and local and international payment systems, including bank transfers, MasterCard, and Visa cards.

Advcash’s integration of multiple payment channels ensures users can deposit, send, receive, exchange, and spend fiat or cryptocurrencies in a fast, simple, and affordable way.

How Does Advcash Work?

Advcash is a popular choice for individuals and businesses who need a convenient and reliable way to make payments online. 

For individuals, accessing Advcash is a simple four-step process, as discussed below.

• Create an account: You can create an Advcash account for free.

• Verify your identity: This payment platform has a KYC process. Although it is not mandatory, it is important to complete the process if you want to transact more than $2500 monthly.

• Fund your wallet: You can fund your Advcash wallet with a variety of methods, including bank transfers, credit cards, and cryptocurrencies.

• Transact: Once your wallet is funded, you can send and receive payments to and from other Advcash users. You can also swap crypto and traditional money or deposit and withdraw funds on major crypto exchanges.

Businesses that plan on using Advcash also have to follow a similar process, including setting up an account, completing business KYC, and selecting a payment gateway.

Advcash KYC Verification Requirements

KYC verification on Advcash is a simple process. For individual KYC verification, users only need to submit personal details, including name, address, and phone number, plus a copy of their passport, driving license, or national ID card. 

Business account verifications require the company’s certificate of incorporation, the account holder’s passport, and a document linking the company to the account holder. The verification process can take at least 2 hours.

Is Advcash Safe to Use?

Advcash has several measures to ensure account and asset safety. Below are some of the most important safety features on Advcash.

• Licensing: Advanced Cash Limited is a licensed financial institution authorized to provide payment services by the Belize Financial Services Commission (FSC).
• HSM-Encrypted Servers: Hardware Security Module (HSM) servers have isolated memory spaces that protect and manage sensitive data, particularly cryptographic keys.
• Multi-Tier Account and Payment Protection: Both merchant and personal accounts provide multiple layers of security, including intelligent environment monitoring, physical and software OTP tokens, payment passwords, and IP restrictions.
• Two-Factor Authentication: Advcash has 2FA features powered by Protectimus. Protectimus is a certified provider and coordinating member of the Initiative for Open Authentication (OATH). OATH is an industry standards body that promotes open standards for authentication.

Why Should You Choose Advcash?

Advcash is a compelling choice for individuals and businesses seeking faster, simpler, and more accessible payment options. Let’s list some of the top reasons why you should choose this platform.

• Simplified Crypto Trading: With Advcash, you get to buy and sell crypto conveniently and at impressive rates.
• Easier Fiat Currency Swapping: Advcash has fiat wallets that enable users to swap between currencies.
• Wide range of Payment Methods: Advcash supports several mainstream payment gateways, including Visa cards, Mastercards, bank transfers, crypto wallets, Advcash cards, and Pix.
• Access to multiple crypto exchanges: Multiple crypto exchanges, including Bitget, HTX, KuCoin, OKX, BitGlobal, and CoinEx, are Advcash partners.
• Robust Security Measures: Advcash has multiple security measures, including 2FA, multi-tier account and payment protection, HSM-encrypted servers, and a thorough KYC process.
• Chargeback Management: The chargeback feature on Advcash merchant accounts helps businesses track and resolve payment disputes related to credit cards and bank transfers.
• Automated Payment: Using the Advcash API, businesses can automate outgoing fiat and crypto payments and obtain transaction history

Why Shouldn’t You Choose Advcash?

There are a few compelling reasons why you shouldn’t choose Advcash. 

• A limited number of supported cryptocurrencies: Advcash supports around ten cryptocurrencies. This is a limited number compared to the number of crypto coins on the market.
• Regional Restrictions: Some Advcash features, like crypto acquiring or certain payment methods, are inaccessible in certain regions. 
• Lengthy Account Verification Process: Advcash estimates that account verification takes at least two hours. However, the process can take up to several days. This can be frustrating for users who need quick access to their funds.

Advcash Review: Features

Advcash has multiple features for individual account holders and businesses as well. 

Advcash Features For General Merchants

General merchants on Advcash are businesses that sell goods or services online or in person. They can be of any size, from small businesses to large enterprises. 

Typically, these companies include online stores, gaming companies that have online reward or payment systems, and cashback services. For such companies, Advcash offers the features below.

• Payment processing: Advcash allows merchants to send and accept payments online. It supports customizable payment flows through crypto, credit cards, bank transfers, and local and international payments.
• Chargeback Management: Chargebacks are a type of transaction dispute that occurs when a customer disputes a charge on their credit card or bank statement. Advcash helps manage such disputes by facilitating processes to cancel a bank card payment initiated by the cardholder through their bank.
• Payment Automation: Advcash has an API for businesses. This API helps in automating outgoing fiat and crypto payments and obtaining transaction history.
• Shopping Cart Interface: The ADV SCI is an online shopping platform solution for accepting payments in both fiat and crypto. SCI is integrated into the e-commerce site, allowing a buyer to transfer funds and the Merchant to receive and properly process received payment.

Advcash Features For Crypto Companies

Advcash offers reliable payment solutions for crypto-based companies, including

• Mass Payments: Advcash makes it possible for crypto companies to send funds to your employees, customers, affiliates, and more, regardless of their location. Using the platform’s API, clients can seamlessly integrate mass payout capabilities into their crypto exchange.
• Fiat and Crypto Deposits: With Advcash, crypto companies can receive cash or digital asset deposits from their clients. The platform provides SEPA, USDC, USDT, and crypto wallet deposit methods.
• Crypto to Fiat Swaps: Advcash crypto merchants can exchange crypto for swap and vice versa within Advcash.

Advcash Features For Individual Clients

Besides business, Advcash offers individual users compelling features. Here are the key features of an individual Advcash account.

• Depositing Funds: Advcash has a deposit funds feature that allows users to deposit assets from Visa cards, MasterCard, bank transfers, and cryptocurrencies through Second February Limited. Second February is Advcash’s parent company.
• Instant Fiat Currency Exchange: Through Advcash, clients are able to swap one currency for another. To set up an exchange, one needs to create separate wallets for the currency they have and the one they wish to transact. Currently, Advcash can support the following currencies: United States Dollar (USD), Euro (EUR), British Pound (GBP), Azerbaijani Manat (AZN), Cook, Islands Dollar (RAR), Ukrainian Hryvnia (UAH), Kazakhstani Tenge (KZT), Brazilian Real (BRL), Turkish Lira (TRY), and, Vietnamese Dong (VND).
• Send Funds: Advcash allows users to send funds to other Advcash accounts, credit cards, bank accounts, and even via email. On email, the recipient receives a link to create an Advcash account to access their funds. If they already have an account, they only need to log in to see their received funds.
• Buy and Sell: Advcash has a buy and sell system that allows peer-to-peer trades among individual account holders.

Fees & Limit

Advcash charges varying fees for individual and business accounts. Additionally, these fees vary based on the payment method, network, and currencies involved. 

Let’s discuss these charges in depth.

Individual Account Deposit Fees

Advcash offers a variety of deposit methods. The funding methods are country-specific, and each comes with varying fees.

• Traders in the EU who have a EUR or USD bank account can transfer funds using SEPA. This comes with a 3.5 EUR charge or more.
• Non-EU traders can use a Visa or Mastercard card to load their account with USD, EUR, GBP, or KZT. There is a 3.5% fee for this method.
• Pix is accessible for BRL deposits. This method attracts a 1.5 BRL fee.
• Traders can also use any ERC20, TRC20, or BSC BEP20 wallet to fund their accounts with USDC or USDT. There is a 1.5 USD fee for this method.
• You can transfer Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), Zcash (ZEC), Tron (TRX), or Binance Coin (BNB) to your Advcash account from any cryptocurrency wallet. The fee for this method is the internal exchange rate.

The table below summarizes deposit fees on Advcash.

Related: How to Convert BEP20 to ERC20 Tokens Guide in 2023 

Individual Account Withdrawal Fees

Withdrawal fees on Advcash vary based on the coin and withdrawal method.

• Personal account transfers for USD, EUR, and other supported fiat currencies are free.
• SEPA withdrawals for traders in the EU cost 3.5 EUR or more.
• Cross-border local bank transfers for fiat currencies like ARS, AUD, BDT, BRL, COP, DOP, HKD, INR, IDR, JPY, MYR, NPR, NZD, PKR, PHP, SGD, ZAR, KRW, LKR, THB, TRY, and VND have a 0.5% fee.
• Traders can use Pix to withdraw BRL for Advcash. There is a 3.5 BRL fee for this method.
• Visa and Mastercard card withdrawals cost 2.5%. They also have a fixed fee of 5 USD for USD withdrawals or 5 EUR for EUR withdrawals.
• Traders with Visa or Mastercard cards issued in Kazakhstan have a fee of 2.5% plus a fixed fee of 500 KZT.
• ERC20, TRC20, or BSC BEP20 wallet withdrawals for USDC and USDT charge 0.5%. There’s also a fixed fee of 8 USD for ERC20 withdrawals, 3 USD for TRC20 withdrawals, or 1 USD for BSC BEP20 withdrawals.
• You can withdraw Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), Zcash (ZEC), Tron (TRX), or Binance Coin (BNB) from your Advcash account to any cryptocurrency wallet. The fee for this method is the internal exchange rate.
• The fees for BTC, ETH, USDT, or USDC withdrawals from an Advcash account to any cryptocurrency wallet vary based on the network.

Below is a table that summarizes individual account withdrawal fees.  

Related: BEP2 vs BEP20 vs ERC20: The Best Comparison in 2023 

Business Account Fees

Business fees vary slightly from individual accounts’ fees. Here’s a breakdown of Advcash deposit fees for business accounts.

• SEPA transfers: For SEPA transfers, there is a fee of 0.1% of the transfer amount plus a fixed fee of 5 EUR.
• USDT, USDC: For USDT and USDC transfers, there is a flat fee of 1.5 USD.
• Loading your Advcash account from a cryptocurrency wallet, such as a Bitcoin or Ethereum wallet, is free.

The following table shows the payment channel, supported currencies, and the corresponding deposit fees.

Withdrawal fees for Advcash business accounts also vary from the ones charged on individual accounts.

• SEPA withdrawals on Advcash cost 0.25% of the transfer amount plus a fixed fee of 5 EUR.
• For withdrawing USDT and USDC, there are different fees depending on the blockchain network used:
• Withdrawing cryptocurrencies to a cryptocurrency wallet incurs an internal network fee. The specific fee will depend on the cryptocurrency being withdrawn.

Here is the table to summarize withdrawal fees for Advances business accounts on Advcash.

Limits

Unverified accounts have a $2,500 monthly limit for internal transactions. This includes both receiving and sending funds. 

Verified personal Advcash account holders can enjoy higher internal transaction limits, reaching up to 299,999 USD per month and 49,999 USD per day or per transaction.

External transaction limits vary depending on the chosen method and are displayed on the transaction page. For transactions processed through external gateways, limits may fluctuate based on the gateway’s current conditions.

Advcash Supported Countries

Advcash does not provide support for transactions in several countries. The list of unsupported countries is as follows:

• Afghanistan
• Belize
• Burundi
• Central African Republic
• Chad
• Côte D’Ivoire
• Cuba
• Democratic Republic Of The Congo
• Eritrea
• Ethiopia
• Guinea
• Haiti
• Iran
• Iraq
• Republika Kosovo
• Liberia
• Libya
• Myanmar
• North Korea
• Somalia
• Sudan
• Syria
• Uganda
• United Kingdom
• United States
• United States Minor Outlying Islands
• Yemen
• Zimbabwe
• Puerto Rico
• American Virgin Islands

What Are Advcash Cards?

Advcash offers a comprehensive range of prepaid card products in various currencies, accessible in several countries. Depending on your location, you may be eligible for one or several instantly loaded Advcash-branded Visa, Mastercard, or UnionPay cards. Explore the cards below and their offerings.

ADV Europe:

• Physical card in EUR and USD for the EU (Visa/MC).
• Free or express delivery options.
• No monthly maintenance fees.
• Instant loads from fiat Advcash e-wallets only.

ADV Europe Virtual:

• A virtual card in EUR and USD for the EU (Visa/MasterCard).
• No monthly maintenance fees.
• Instant loads from Fiat Advcash e-wallets only.

ADV Global:

• Physical UnionPay and Mastercard cards in USD are available in all supported countries.
• Free courier delivery.
• No-fee POS payments in USD.
• Instant loads from Fiat Advcash e-wallets only.

Conclusion

Advcash is one of the best payment processing platforms for individuals and businesses alike. The platform offers a range of payment methods for mainstream cryptocurrencies like BTC, ETH, USDC, and USDT, as well as traditional currencies.

Besides that, Advcash has top-notch security and impressive features for individuals, online merchants, and cryptocurrency-based businesses. These factors combined make Advcash a platform worth considering for any trader who wants easier, faster, and more accessible payment systems.

FAQs

Where is AdvCash located?

Advcash is located in Belize City, Belize. The exchange operates and is licensed under the Belize Financial Services Commission (FSC).

How long does it take to receive money from Advcash?

The time it takes to receive money from Advcash can vary based on the withdrawal method. For example, personal account transfers for USD, EUR, and other supported fiat currencies are generally immediate. 

However, Visa cards can take a few hours to three days. Cross-border local transfers can take one to three days, while e-mail payments take less than 48 hours.

How much does Advcash charge for withdrawals?

Advcash charges different fees for withdrawals depending on the withdrawal method and currency. For example, SEPA withdrawals in EUR have a fee of 0.25% of the transfer amount plus a fixed fee of 5 EUR. 

Withdrawals to cryptocurrency wallets have internal network fees that vary based on the specific cryptocurrency being withdrawn. Visa and Mastercard card withdrawals have a 2.5% fee plus a fixed fee of 5 USD for USD withdrawals or 5 EUR for EUR withdrawals.

How much does Advcash charge for deposit?

Advcash charges varying fees for deposits based on the payment method and currency. For example, SEPA transfers in EUR have a fee of 3.5 EUR. Visa or Mastercard card deposits have a 3.5% fee. 

Pix deposits for BRL have a 1.5 BRL fee. Deposits from ERC20, TRC20, or BSC BEP20 wallets for USDC or USDT have a 1.5 USD fee. Cryptocurrency deposits to Advcash are generally free, with fees determined by the internal exchange rate.

What is the limit of Advcash transfer?

For internal transfers, unverified accounts have a $2,500 limit for receiving funds and making internal transactions. This limit resets every 30 days. Verified personal Advcash account holders can make internal transfers (received and sent combined) of up to 299,999 USD per month and up to 49,999 USD per day or per transaction.

External transactions have varying limits that vary depending on the chosen method. These limits are displayed on the transaction page. For transactions processed through external gateways, limits may fluctuate based on the gateway’s current conditions.

Can I use Advcash without verification?

Yes, Advcash KYC (Know Your Customer) verification is not mandatory, but it is important if you want to transact more than $2500 monthly. KYC verification also unlocks global transfers and Advcash cards. The verification process is stated to take at least 2 hours.