[ANN] bitfloor cash deposit, ACH withdraw, and wire transfers

DeathAndTaxes

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Gerald Davis

Quote from: Stephen Gornick on September 04, 2012, 06:27:07 PM

Quote from: Draino on September 04, 2012, 03:39:55 PM

between this, bitcoinica, and pirate, i believe that's 3 strikes

There were many questions as to Bitcoinica's security long before they were hacked. As far as pirate, that isn't even close to being in the same category as this.

This one was a little different because people presumed that because some good security practices were in place, others (such as what should be rule #1 for an exchange ... Thou shalt keep anything more than a day's worth of bitcoin need in cold storage) would be followed as well. As we learned too late, they weren't

Yeah Due Diligence failure on my part. I just assumed and I guess so did everyone else. Had it come to light that there was no coldwallet I would have stopped using the site. Not shifting blame just genuinely surprised about this security failure AND my own failure to ensure the exchanged lived up to my own personal standards.

Stephen Gornick

legendary

Activity: 2506

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Quote from: Draino on September 04, 2012, 03:39:55 PM

between this, bitcoinica, and pirate, i believe that's 3 strikes

There were many questions as to Bitcoinica's security long before they were hacked. As far as pirate, that isn't even close to being in the same category as this.

This one was a little different because people presumed that because some good security practices were in place, others (such as what should be rule #1 for an exchange ... Thou shalt keep anything more than a day's worth of bitcoin needs in cold storage) would be followed as well. As we learned too late, they weren't

Draino

full member

Activity: 168

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Quote from: qxzn on September 04, 2012, 01:54:50 PM

https://bitcointalk.org/index.php?topic=105818.20

between this, bitcoinica, and pirate, i believe that's 3 strikes

thanks for nothing, bitcoin.

qxzn

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https://bitcointalk.org/index.php?topic=105818.20

Draino

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Merit: 100

http://www.downforeveryoneorjustme.com/bitfloor.com

it's been down since at least last night, any word?

shtylman

sr. member

Activity: 243

Merit: 250

Quote from: Stephen Gornick on August 31, 2012, 02:32:02 PM

At one time the BitFloor signup page read:

Quote

Giving you access to your funds is very important to us.

To help ensure continued operation, we follow the US AML (anti-money laundering) practices outlined by FinCEN. USD withdraws are capped at $1,000 daily and $10,000 monthly. We reserve the right to ask for identifying information and to adjust these policies.

You will be notified of any policy changes via email.

I no longer see BitFloor's AML policy anywhere on the BitFloor site. Is this published anywhere?

I will be adding back shortly. It was removed from the signup page as it was not accurately reflecting your actual caps. No policy has changed and there will be no fund movement disruption.

Stephen Gornick

legendary

Activity: 2506

Merit: 1010

At one time the BitFloor signup page read:

Quote

Giving you access to your funds is very important to us.

To help ensure continued operation, we follow the US AML (anti-money laundering) practices outlined by FinCEN. USD withdraws are capped at $1,000 daily and $10,000 monthly. We reserve the right to ask for identifying information and to adjust these policies.

You will be notified of any policy changes via email.

I no longer see BitFloor's AML policy anywhere on the BitFloor site. Is this published anywhere?

drrussellshane

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Activity: 546

Merit: 500

Quote from: TheButterZone on July 18, 2012, 09:19:20 PM

Looks like Chase isn't fee-free anymore. Logged in, put $20 in the cash deposit form, and got this:
Visit any Chase branch location within 24 hours and fill out a deposit slip with the following information to be credited. The amount MUST be the exact amount listed.
Account name: Bitfloor
Account number: 467594151
Cash Amount: $20.31

No... that $0.31 is so bitfloor will know to which account they should deposit the funds.

TheButterZone

legendary

Activity: 3010

Merit: 1031

RIP Mommy

Looks like Chase isn't fee-free anymore. Logged in, put $20 in the cash deposit form, and got this:
Visit any Chase branch location within 24 hours and fill out a deposit slip with the following information to be credited. The amount MUST be the exact amount listed.
Account name: Bitfloor
Account number: 467594151
Cash Amount: $20.31

On #bitcoin-otc they're theorizing that the .31 cents is a verification amount. Will that be credited along with the $20?

shtylman

sr. member

Activity: 243

Merit: 250

Quote from: ?? on ??

Quote from: shtylman on July 16, 2012, 06:18:25 PM

2) I will look into this. The way US banking works unfortunately makes it quite annoying to provide the routing and account number publicly however we do understand many of our client need this for the wire deposit options.

This information is public as far as I know. Unless business accounts have different routing numbers.

https://www.chase.com/index.jsp?pg_name=ccpmapp/smallbusiness/shared/page/routing_number

edit: since i've linked the business page, for chase the ABA is 021000021

I figured as much and wanted to double check myself. I will post that for the next release.

shtylman

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Activity: 243

Merit: 250

Quote from: DeathAndTaxes on July 16, 2012, 06:13:52 PM

A feature request. Can 2 factor authentication be limited to just withdrawals?

A "bug fix" request. The deposit page STILL doesn't have routing (ABA) information. Most domestic banks don't use SWIFT codes, don't have an option to enter SWIFT codes, and if they do charge higher international wire rates. It is simply confusing to end user to not include routing (ABA) information.

1) Not at this time. Although I do think that could be a useful feature instead of making a user enter a pin for withdraw.

2) I will look into this. The way US banking works unfortunately makes it quite annoying to provide the routing and account number publicly however we do understand many of our client need this for the wire deposit options.

DeathAndTaxes

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Activity: 1218

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Gerald Davis

A feature request. Can 2 factor authentication be limited to just withdrawals?

A "bug fix" request. The deposit page STILL doesn't have routing (ABA) information. Most domestic banks don't use SWIFT codes, don't have an option to enter SWIFT codes, and if they do charge higher international wire rates. It is simply confusing to end user to not include routing (ABA) information.

shtylman

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Activity: 243

Merit: 250

Quote from: Stephen Gornick on July 16, 2012, 04:48:28 PM

I had trouble trying to enter a market BUY order earlier today. I didn't keep a record of the error it showed -- something to the effect of "coins had already been sold or something to that effect". I tried multiple times, multiple amounts. I did then see my market order enter but it sat there and did not get filled.

I canceled and then switched so that it did a limit order BUY and the limit order executed just fine, as did all subsequent limit orders.

Was there an execution problem earlier or does this need more specifics to be able to troubleshoot?

Usually it is better to email support (faster response times). But yes, there was an issue with market orders earlier today (limit orders did not have problems). The issue should be resolved now. In the future, if a market order fails, please consider trying a limit order. I will work on making the error message clearer and more helpful

Stephen Gornick

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Activity: 2506

Merit: 1010

I had trouble trying to enter a market BUY order earlier today. I didn't keep a record of the error it showed -- something to the effect of "coins had already been sold or something to that effect". I tried multiple times, multiple amounts. I did then see my market order enter but it sat there and did not get filled.

I canceled and then switched so that it did a limit order BUY and the limit order executed just fine, as did all subsequent limit orders.

Was there an execution problem earlier or does this need more specifics to be able to troubleshoot?

dave3

sr. member

Activity: 344

Merit: 250

I did email support before to get the complete wiring instructions, but they just pointed me to the deposit page.

I checked the updated deposit page again today, but there's still no ABA number for a domestic transfer or bank address. Oh well.

shtylman

sr. member

Activity: 243

Merit: 250

Quote from: dave3 on July 08, 2012, 02:00:55 AM

Has anybody done a wire transfer into bitfloor?

They say they process international and domestic wire transfers, but the only wiring instructions on their deposit page is basically their account name, account number, and a SWIFT code.

All of the US domestic wire transfers I've ever done have used an ABA number. The only times I've used a SWIFT code have been for international wire transfers.

Also, my bank (and all the banks I've dealt with in the past) require a receiving account address and bank address to process the wire transfer, but these aren't included in bitfloor's wiring instructions.

Am I missing something, or maybe only certain banks are willing to process these sorts of wire transfers?

We have added a few more details to the website regarding wire transfer information (it can be found on your user deposit page). The bank address is not needed in many cases and in others you can just put USA or New York.

DeathAndTaxes

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Activity: 1218

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Gerald Davis

Quote from: dave3 on July 08, 2012, 02:00:55 AM

Has anybody done a wire transfer into bitfloor?

They say they process international and domestic wire transfers, but the only wiring instructions on their deposit page is basically their account name, account number, and a SWIFT code.

All of the US domestic wire transfers I've ever done have used an ABA number. The only times I've used a SWIFT code have been for international wire transfers.

Also, my bank (and all the banks I've dealt with in the past) require a receiving account address and bank address to process the wire transfer, but these aren't included in bitfloor's wiring instructions.

Am I missing something, or maybe only certain banks are willing to process these sorts of wire transfers?

I have. Send an email to support and they can provide you the ABA (routing #). Not sure why it isn't listed on the website.

Anyways my wire in was easy. I ended up sending it late (~3PM EST). Got notification within the hour from the site that it was pending and the funds were in my account the next morning.

Too easy... except he should post the ABA. My bank allows using SWIFT code but doing so makes it an "international wire" price even though it isn't leaving the US.

dave3

sr. member

Activity: 344

Merit: 250

Has anybody done a wire transfer into bitfloor?

They say they process international and domestic wire transfers, but the only wiring instructions on their deposit page is basically their account name, account number, and a SWIFT code.

All of the US domestic wire transfers I've ever done have used an ABA number. The only times I've used a SWIFT code have been for international wire transfers.

Also, my bank (and all the banks I've dealt with in the past) require a receiving account address and bank address to process the wire transfer, but these aren't included in bitfloor's wiring instructions.

Am I missing something, or maybe only certain banks are willing to process these sorts of wire transfers?

miernik

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Activity: 334

Merit: 250

Quote from: runeks on June 02, 2012, 04:31:49 PM

I would definitely be using this exchange to fill at least some of my BTC needs if it allowed a cheaper way to transfer funds internationally. The last time I tried an international transfer of USD I was charged $30 (I'm in Denmark), which is an unacceptably high fee for me. I see that BTC is trading for $5.15 at Bitfloor right now, while Mt. Gox is charging around $5.23, so there's no doubt I would move some orders to this exchange if it had a cheaper way to deposit funds for EU residents.

Next time you need some coin, you can drop me a message if you like, I might be able to do some deal through a local Danish account.

Anyway there are plenty of exchanges with accounts in the EU, why would you want to transfer funds to US?

runeks

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I would definitely be using this exchange to fill at least some of my BTC needs if it allowed a cheaper way to transfer funds internationally. The last time I tried an international transfer of USD I was charged $30 (I'm in Denmark), which is an unacceptably high fee for me. I see that BTC is trading for $5.15 at Bitfloor right now, while Mt. Gox is charging around $5.23, so there's no doubt I would move some orders to this exchange if it had a cheaper way to deposit funds for EU residents.

Topic: [ANN] bitfloor cash deposit, ACH withdraw, and wire transfers (Read 5854 times)