Advanced Cash is on the list of the latest and the most popular payment system. It was established in 2014 and it has quickly proved to be a reliable and convenient platform with a great functionality. The system has its advantages and disadvantages, as well as features which distinguish it from competitors.
About the payment system
Advcash is a specific service with an offshore. The system was set up in the autumn of 2014. After the establishment it started to improve through attracting clients who preferred the new platform to the old ones. This has become possible because of a specific program which allowed getting a range of benefits to clients. Features of the system are:
- availability of the official website;
- partnership with clients from all over the world;
- affiliate program with profit on a commission from all referrals;
- a great choice of currencies;
- increased confidentiality and anonymity;
- supporting most currencies and payment;
- a big threshold for limits of deposits and withdrawals.
The main feature, which has made the system popular and demanded, is a combination of anonymity and money transfers without a commission (if they are made between wallets within the system).
Advcash consists of three organizations. These companies are:
- Advanced Cash Limited;
- ADV Project Limited;
- “The information processing center” Limited.
The electronic payment system is provided by Advanced Cash Limited. It was registered in Beliz. This country has low taxes. The address of registration is: Suite 102, Ground Floor, Blake Building, Corner Eyre&Hutsons Streets, Belize City.
IFSC licensing takes place there every year.
Representatives and partners of the company are located all over the world.
Registration and vrification
Adv Cash has a Russian version of the website. It’s necessary because of a few reasons:
- an opportunity to use personal account and create various wallets;
- you may need verification while working with some banks (it’s a part of a security system);
- limits of funds increase;
- additional functional opportunities appear.
Registration process itself is not difficult. You will need to enter the official website and sign up using all needed information. Specificities of the registration:
- a name is written in English, as it is in a passport;
- all information must be credible;
- there are 2 types of an account: “Personal” and “Business”. The second one is necessary if you have your own online-service or a website.
You will need to customize all security settings and protect your account. If necessary, verification process is conducted. It allows improve functionality of the system.
Without verification a user will be anonymous. But limits are lower compared to a completely registered account. Another feature is that verification is necessary if cards are used or bank transfers are conducted. This depends on how a client uses his account.
Advcash exchanger can work with any types of currencies and cryctocurrencies. By default, there are three wallets: for euros, dollars and rubles. You can also add the following wallets:
- hryvnia (Ukraine);
- Belarusian ruble;
- tenge (Казахстан);
- pound sterling;
- Brazilian real.
In the future the number of currencies can be increased, as there are more and more clients from all countries of the world.
The system works with most exchangers of cryptocurrencies and fiat currencies. It’s also possible to conduct transfers to various e-wallets and bank cards. You need to take into account that there’s a commission for third-party transfers. It depends on types of a payment and other payment system. Within Advcash there’s no fee for exchanges of all major currencies.
Operations with cryptocurrencies are conducted in such a way that transfers from any payment system convert cryptoccurencies to a currency supported by the service. Conversion is held at the exchange rate at the time of transaction.
Operations with cards were available since the start of the platform, but later this opportunity was suspended. This function is planned to be launched once again in the middle of 2019. It will be able to do shopping on the Internet with the card as well as to use it in a standard way. The
procedure of getting it is the same: you will have to draw up the card through the website providing all information and an address of delivery.
There will be several variants of cards, including personal and regular ones:
- Visa in USD and EUR for Europe;
- Mastercard in USD and EUR;
- Visa for rubles.
It will be possible to pay with the card in any part of the world. Withdrawals will be conducted in any ATM which supports particular type of the card, just like before. For all people, who drew up cards of the system before, card reissuing will be done for free.
Deposits and withdrawals in AdvCash
Withdrawals in Adv Cash are set universal. This means that to transfer money to any payment system, you will need to log into your account and issue a transfer, passing such security queries as passwords and codes installed in settings.
Withdrawals have some features:
- transfers without a commission are available only within the system, but for other services there will be a fee set for a particular type of a transfer;
- verification is necessary for withdrawals through cards and banks;
- there’s a wide choice of methods of transfers.
You can withdraw money to:
- a virtual or plastic card from Advanced Cash;
- to any card from Visa or Mastercard;
- to any banks, but having an account there and completed verification are required;
- to various electronic payment systems, including the ones for cryptocurrencies.
The main feature of the system is an opportunity to transfer money to any service which uses electronic money. This can be done through the exchanger set up in the system itself.
The main feature of withdrawals is different amounts of commission, that’s why a user chooses the best option himself.
Deposits to a personal account are also universal, as it is available via any method, including:
- transfers from different types of cards;
- bank transfers;
- money transfers from SIM cards of mobile providers;
- through exchangers;
- through various XPS.
It’s necessary to keep in mind that deposits and withdrawals are available through a personal account based on set limits. Another nuance is having different commissions for users from different countries.
Pros and cons of AdvCash
The service has a lot of feature which can be considered both positive or negative. Advantages are:
- anonymous operations with a wallet;
- having an interface and support in Russian;
- lack of commissions for internal operations;
- wide choice of currencies in addition to three standard;
- an opportunity of send money to those who aren’t registered in the system;
- a high level of security and simple configuration;
- a huge number of options for deposits and withdrawals;
- an opportunity to use cryptocurrency stocks.
There are hardly any disadvantages of the system for an ordinary user, but there are two negative features. The first one is suspending of drawing and use of cards, which now work only in EU and with a short limit. But this downside will be resolved soon.
The other disadvantage and the more important one is a high level of commission for operations with third-party services. This makes clients use exchangers more often in order to withdraw money from the other platform. This is payback for convenient use and increased functionality.
Advanced Cash is a new company on the XPS market, but it has already earned a good reputation because of a convenient system and its universality. The service has both pros and cons, but there are a lot more benefits.