TenX bank cards will not work outside the EU

Holders of bank cards of the Singapore project TenX, who are not residents of the European Union, will not be able to use them after October 16 2017. This was stated by the company's representatives in its official blog.

What exactly happened?

Since TenX does not (yet) have a banking license​ - every active TenX card currently in circulation is issued by a card partner who is actually licensed to issue cards, namely, Wave Crest Holdings Limited.
In late-August 2017, WaveCrest informed TenX that they would no longer issue and maintain Visa® Prepaid Cards to cardholders outside of the European territory.

WaveCrest’s new policy does not change anything for cardholders in the European territory. Cardholders outside the European territory with active TenX cards will not be able to use their cards from 16 October 2017 onwards.

Plan B

However plan B has been already prepared: TenX is onboarding alternative card issuers who can issue cards outside of Europe. They’re currently targeting a November 2017 launch for these new cards. Cardholder outside of Europe affected by the WaveCrest change, can receive these new TenX cards free of charge.


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