Why Did My Transaction Fail?

It's not uncommon for card transactions to fail. If you have attempted to purchase crypto using Wyre's services and the order didn't go through, this article will detail what you can do next.

 

Please note: This guide will help you understand how to resolve credit/debit card transaction failures.

 

Here at Wyre, we strive to be the best in the fast-paced crypto industry. This means that we provide multiple payment options to all our users to purchase crypto quickly, safely, and securely. Because there are so many moving parts in this process, there are a number of different reasons for transactions to fail, including:

  • Insufficient funds
  • The banking institution or credit card company does not allow crypto purchases
  • Local laws prevent Wyre from operating in your area
  • Bank authorization code failure 
    • (Article coming soon!)

 

There are many more reasons for a transaction to fail, and due to banking privacy laws, we may not know the exact cause. However, you can follow these steps to help your next transaction attempt succeed:

 

👉  Wait 1-2 days before trying again.

  • If you're purchasing crypto for the first time, or if you're using a new platform to purchase crypto, your financial institution might flag this transaction for security reasons. We know how anxious our users are to join the crypto movement, but waiting a few days before retrying the transaction is often the best step to take when your first attempt fails.

 

👉 Check our current geographic restrictions HERE.

  • Due to local licensing restrictions in some areas around the world, we may not yet be operational in your state or country. You can click the link above to see if your location is on the list of non-operational areas.

 

👉  Check with your bank-issued card to see if you have any holds/blocks for cryptocurrency transactions.

  • Like Wyre, your financial institution values your security, and you may have holds or blocks in place for certain types of transactions. If your transaction attempt fails, we recommend that you reach out to your bank or credit card company to remove any blocks and inform them that you are attempting an authorized transaction.

 

👉  Apple Cash Cards and Prepaid Cards are not accepted.

  • At the moment, we are not able to process payments from prepaid cards like Apple Cash Cards, Cashapp, Transferwise, Revolut, N26, and others.

 

👉  Visa, MasterCard only.

  • We hope to expand our payment processing services to accept other card types, but currently, Visa and MasterCard are the only options for making a credit/debit card payment.

 

👉  Review your Apple Pay info and Card billing info.

  • It's important to keep your billing information updated! If you've moved recently, it's possible that you may be entering a new billing address before it has been updated with your financial institution. Be sure to check with your bank to ensure your records are up to date!

 

👉  Cards connected to Business accounts not allowed.

  • For security reasons, please make sure that your payment method is linked to a personal card or bank account.

 

👉 PO BOX address not accepted.

  • To verify your account/payment method, a physical street address is required.

 

👉  You will need to use a mobile phone # and not a Landline/VOIP #.

  • In order to complete a transaction with Wyre, you must use a mobile phone number. Landline, VOIP, Google Voice, and prepaid phone numbers are not accepted.

 

👉  Use a different device to complete the transaction (smart phone, laptop/PC, tablet, etc.).

  • If you're having difficulties completing a transaction, using a different device may help. Laptops and desktop PCs are often the best options for crypto transactions.

 

👉 Clear your browser history/cache and cookies.

  • Clearing your browser history is a good way to refresh your computer before attempting a new transaction.

 

Still have questions? Our Support Team would be happy to help you! Contact us HERE.



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