Having been in the cryptocurrency space since 2013, we’ve grown as the space has matured, gaining valuable insight into how blockchain technology is revolutionizing the FinTech sector.
Exciting things are happening every day in the crypto space and we felt it was time to commit our full focus to a solution for the cryptocurrency community.
With that focus in mind, we're sorry to announce that we'll be ending our cross-border payment services, with support for the Wyre dashboard on Thursday, September 20, 2018.
Our main priority during this time is to make this end-of-life process as seamless as possible for our affected users, and to provide as much visibility into what to expect during the process.
Here are some key dates to keep in mind that may require action on your part.
How is Wyre's service changing?
Wyre will no longer be offering cross-border payment services (i.e USD to CNY) through the dashboard. This means users will no longer be able to send fiat to fiat payments to other individuals.
Who does the service change affect?
The changes will affect all dashboard users as we'll be changing our service offerings and dashboard functionalities. Individual and business users who only use Wyre for cross-border payments will be affected the most.
For all users:
- New dashboard interface will go live on August 15, 2018. Learn more about the changes here.
- Users will no longer be able to add contacts after August 15, 2018.
- Users will only be able to add USD payment methods after August 15, 2018.
- Wyre will stop all cross border payment services via dashboard on September 20, 2018.
- Unverified accounts or accounts with no previous activity will be disabled after September 20, 2018.
For business and individual users (fiat to fiat only):
- Wyre will stop cross-border payment services on September 20, 2018. Please make sure to send payments to your existing contacts before this day.
- To withdraw funds, please email [email protected] with your request; including the amount and last 4 digits of your bank account. Any remaining balances after September 20, 2018 will be sent back to their original funding source .
- Unverified accounts and accounts with no previous activity will be disabled after September 20, 2018.
For API and crypto users:
- While functionality for sending money to contacts will be removed, this will not affect service for API users and those trading cryptocurrency.
- Crypto users with no balances but previous trading activity will also be unaffected.
So... what is Wyre going to do now?
The Wyre dashboard will become a cryptocurrency exchange platform, facilitating crypto to fiat, fiat to crypto exchanges. We'll be adding new cryptocurrencies such as DAI, WETH and ETH.
What will happen to my current balance?
- Individual and business users who have only used Wyre before for cross-border payments will have access to their funds until September 20, 2018. Funds that are not removed by this date will be sent back to the original source of funds.
What will happen to my account?
- Unverified accounts or accounts with no activity will be disabled after September 2018.
- API users are not affected by these changes and service will be uninterrupted.
- Crypto users, or users who have used BTC in the past, are also unaffected.
What if I miss the deadline?
- Please email us at [email protected] for help with funds retrieval. Our goal is to have all funds removed from the Wyre dashboard by the end of September.
Announcing our partnership with WorldFirst
It’s really important to us that you can continue your business activities as usual and so, after months of investigations, we have identified WorldFirst as the partner who we – and you – can trust.
WorldFirst is one of the largest payments companies in the world, processing over $15 billion a year. They’ve built a great business by continually offering great rates backed-up with award-winning service. We know you’ll be in really safe hands with the team at WorldFirst!
Important things to know
- ⚠️ WorldFirst is only available for business users at the moment.
- WorldFirst currently does not offer CNY or BRL payouts but will be launching these soon!
- WorldFirst is not able to send CNY payments to individuals, only businesses.
Interested in getting started? Use this link to sign up 👈. If you're an existing verified Wyre user, please complete the online form only. You do not need to upload all verification documents. A WorldFirst representative will ask you to sign a shareholders' form and submit an updated proof of address document. For more information, chat with your dedicated WorldFirst account manager for additional help.
Learn more about our partnership here: https://medium.com/@wyre/bc90e4166655
Other Recommended Services
Although we're not partnered with these companies, we know that they're leading platforms in the payments industry that you can trust.
XendPay - with Xendpay not only do you get leading currency rates but excellent customer services as well. Services are available for business and individual users, however, they do not support US users.
TransferWise - Great exchange rates and low fees! Transferwise is the creme of the creme in the payments industry. They support +50 countries including US, Brazil, China and Mexico.
Please contact us at [email protected] or give us a call at (415) 374-7356, Monday through Friday from 9:30 am to 6:00 pm PST. We're here to help!
We want to send a heartfelt thanks to all our users who have used Wyre to send payments all over the world. It’s been a wild ride and none of it would have been possible without you 💙.
Thank you again for all your support!