TLDR;
This video discusses recent changes and challenges regarding online payment solutions for Algerians. It covers the discontinuation of services from popular platforms like Wise and Revolut, updates on Dukascopy's card availability, the situation with Maevin, the ban on cryptocurrency-related activities with RedotPay, and a potential solution with Moniko in the future.
- Wise and Revolut are no longer viable options for Algerians due to verification issues and residency requirements.
- Dukascopy has stopped issuing physical cards to residents outside of Europe.
- Maevin has ceased new registrations from Algeria, and existing accounts may face issues with card expiration.
- RedotPay and all cryptocurrency related activities are illegal in Algeria.
- Moniko presents a potential alternative, offering virtual cards and aiming for physical cards in 2026, with some users reporting success in linking it with PayPal.
Introduction [0:00]
The video starts by highlighting the importance of staying informed about recent events affecting online payment options for Algerians. The speaker mentions a piece of "unhappy news" regarding a specific card that was once highly favoured, hinting at challenges and potential solutions for the future, specifically looking towards 2026. The speaker encourages viewers to like the video and subscribe to the channel for updates.
Review of Wise and Revolut [0:31]
The speaker revisits the topic of Wise and Revolut, emphasising that these platforms no longer support Algerian residents. He explains that while initial verification might seem possible with an Algerian passport, users often face issues related to proof of residency and source of funds. The speaker advises viewers against pursuing these options unless they possess a European visa or residency permit, as these platforms require documentation to prove the right to live in the European address provided.
Dukascopy Card Discontinuation [2:16]
The speaker addresses the unfortunate news regarding Dukascopy, previously considered a secure and reliable option for Algerians. He explains that Dukascopy allowed users to open accounts with an Algerian passport and address, providing a European IBAN for transactions. However, the service is no longer available for residents outside of Europe. The speaker shares a recording of a conversation with Dukascopy support, confirming that they have stopped issuing physical cards to individuals residing in Algeria due to a decision from their partner, Swiss Bankers. While it's still possible to open a Dukascopy account and receive/send money, obtaining a physical card is currently not an option for Algerians.
Maevin Account Updates [5:38]
The speaker moves on to Maevin, noting that new registrations from Algeria have been suspended since June or July. This means that it's impossible to create a new account or obtain a card if you're in Algeria. For those with existing Maevin accounts, the speaker mentions that they should still function normally, but once the card expires, it cannot be renewed. Existing accounts will transition to using the Euro as the primary currency.
RedotPay and Cryptocurrency Regulations [6:19]
The speaker addresses RedotPay and other cryptocurrency platforms, reminding viewers that dealing with cryptocurrency is illegal in Algeria. He warns that Algerian authorities could request RedotPay to block Algerian users, potentially leading to account closures. The speaker advises those with funds in RedotPay to withdraw them and cease using the platform to avoid potential issues.
Moniko as a Potential Solution [7:21]
The speaker introduces Moniko as a potential solution for Algerians in 2026. He explains that Moniko faced initial challenges due to issues with its previous French partner's licensing. However, Moniko now has a new partner based in the Netherlands and is focusing on the African market. The speaker highlights that Moniko allows users to easily open an account with an Algerian passport and proof of address. Currently, Moniko only offers virtual cards, with the possibility of physical cards becoming available in 2026.
Moniko and PayPal Integration [8:39]
The speaker discusses the pros and cons of Moniko, particularly its potential integration with PayPal. He mentions that Moniko cards are Visa cards, which can be used for most transactions. The speaker shares that he contacted Moniko support and learned that while it's possible to link the card to PayPal, users need to complete at least two transactions through PayPal to validate the card. The speaker encourages viewers with experience using Moniko and PayPal to share their experiences in the comments to help others in the community.
