Topic: [ANN] 700,000 Cash Deposit Locations in Brazil, Russia, USA - BitInstant - page 14. (Read 58463 times)

The rate is a flat 3.99% all around. When you do 'Bitcoin to email' coinapult charges an extra 1% for the conversion and trading fee which we clearly display in orange on the next page.

For some transfers, zipzap adds $3.95 fee on it. So yes, when doing $20 it may seem $5 is too hefty, but on $500 its alot less.

Thank you. I will be trying this over the weekend. Im excited! I am in the 7-11 at least once per day

Cool.

I noticed it disappears if I select 'bitcoin to email' AND THEN edit the 'amount' field.  But the 'destination' field is before the amount field, so it doesn't disappear until after I've become confused by its presence.

Also, it doesn't reappear if I switch back to 'mtgox' or anything else.

Sooooooo... Europe then?! (and France in particular  )

What's the agenda like?

I tried it.  I selected 'walmart' and 'to email' options, and tried depositing $20:

It says I'm going to get $19.20 for my $20.  A 4% fee.  Seems good:



It asks me for a 4 digit PIN, then tells me I'm going to receive $18.20 for my $20.  A 9% fee.  What happened there?

Oh, and it also tells me there will be a further 1% fee for the USD to BTC conversion.  So that's a nice round 10% fee in total.



Then when I get the voucher to print, it turns out I have to pay $23.95 (a convenience fee of $3.95 has been added):



That makes a total fee of exactly 25%.  I pay $23.95 to get $18.202 and then have to pay an extra 1% on top of that for the conversion.

I wonder if there's some way of presenting the true cost up front, and making the fees clearer.  It seems, for instance, that I end up getting more money if I deposit $99.99 than if I deposit $100, because the rate goes up 1% at $100.  But the only way of finding that out is by trial and error.  I'd like to see the fee structure spelled out clearly.

Maybe tomorrow I'll give it a go with some of the money I'm going to use to buy back what is more and more looking like bitcoins I won't ever be getting back from Bitcoinica or Bitcoinica Consultancy or Amir Taaki or the mysterious Owner.

Does CVS, 7-11, and Walmart all use Moneygram? If I get stuck with a $3.95 fee, it looks like it would actually be cheaper to deposit at a bank, unless I sent a very large amount.

Maybe not then. However the fee's are the same

If I select Brazil flag, I don't see moneygram option

How?

You mean why don't we use Moneygram instead of Boleto?

You can!

So why on Brazil don't you use moneygram instead of  zipzap?

It's always 3.99% but for some transfers (Moneygram I believe) Zipzap charges an extra $3.95

When is it ~7%? Is it always ~4% in US?

This is so good!  We need it in Australia! 

Really? Can you try it out? Im eager to know if that will work

There is a russian kiwi netwotk in argentina...

One word: Awesome!

I simply had to try this out, so here is my review.

Step 1: On The Web
- Went to bitinstant.com
- Chose Cash --> CVS to MtGox
- Entered my mtgox account number (you can see it when logging into mtgox, I think you can use your mtgox username as well)
- Entered 100 USD
- Entered my email address
- web page says: You Receive 96.01 USD
- Click Send funds
- You get to review what you entered
- Click Go!
- I get redirected to https://www.cashpayment.com/Public/CashOrder, where my current location is prefilled (in my case Mountain View CA) and I see a map with 14 stores within 5 miles.
- I chose CVS at 850 California Street
- Click Create Payment Slip, and my browser downloads a pfd file, which i print out

This took about 1 minute

The 1 page document contains the address of the store, some instructions, a bunch of labeled numbers, and some logos. It occurs to me that I have to pay USD 103.95 for my USD 100 transfer.

Step 2: At The Store
- The instructions mention a red phone... In the store there happens to be a red phone... I pick it up
- The phone auto dials a number and I get connected to a robo-voice asking me to enter a number which I find on the table next to the phone. Now it knows which store I am in.
- The robo-voice asks a number of questions (don't remember the exact order), and I specify that I want to pay a bill by typing on the phone, enter the amount to pay (103.95 from the pdf), enter the receive code 9611 (from the pdf), and eventually I am told that I will get redirected to a human.
- This never happens, and after a minute or so I hang up and start over.
- I go through the process again, and this time I get connected to an operator.
- I confirm the amount to pay, tell the account number (from the pdf), tell my name and address.
- The operator says that I am all set, and can go to the counter in the store and say that I want to make an express payment.
- At the counter I say that I want to do an express payment using Money Gram.
- She asks what the amount is and what my name is, and asks for ID.
- I show her my Danish drivers license. She briefly looks at it and I pay her USD 104 and get back my 5 cents and a receipt.

This took about 5 minutes

Step 3: After Math
- I receive an email from [email protected] shortly after. Actually the time on my receipt says 4:03 PM and I received the email 4:02. That's really fast  The mail confirms that I have received USD 95.01 in my mtgox account.
- Logging into my mtgox account I find USD 96.01 there, and since I am pretty sure that I did not have any funds there I guess that the email should have said USD 96.01 instead of 95.01.
- Anyway... I purchase BTC 18.69981974 and send them to my wallet.

This took about 1 minute

All in all I paid USD 103.95 for USD 96.01 worth of BTC at the current market price.

Will I do it again?
Absolutely

 

Bank fail.

^ true story