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Topic: Bitcoin Exchange that except Debit Card deposits - page 2. (Read 4271 times)

kjj
legendary
Activity: 1302
Merit: 1026
You can do a chargeback with a prepaid card just like with a normal card.

The chargeback rules are enforced by VISA/MasterCard/Discover/etc, not by the issuing bank.

you can't chargeback cash that the exchange pulled out of an ATM.

Ahh, cash, good point.  That would work, but it won't scale.
legendary
Activity: 1680
Merit: 1035
You can do a chargeback with a prepaid card just like with a normal card.

The chargeback rules are enforced by VISA/MasterCard/Discover/etc, not by the issuing bank.

you can't chargeback cash that the exchange pulled out of an ATM.
hero member
Activity: 504
Merit: 500
I had a thought about using prepaid VISA cards you can top off.

Buy such a VISA, write down the info, and send the VISA to the exchange operator. If you want to transfer money into your account, top off the VISA with another method (go to WalMart and deposit cash, or add money to it using another card), notify the exchange, and have them march to the nearest ATM and use your card to withdraw the balance into cash.

It's convoluted, and likely costly, but if you trust the exchange with your money, you can keep more on the card than you want to buy BTC with, and just ask them to take the cash from it for the amount of BTC you want to buy.


  Its actually simple and only cost a few dollars per refill. You are able to refill them online with just the card number via moneypak.  Now the catch is, that the owner is able to receive a more permanent card with their billing info assigned to it which would allow them to report the card stolen, likely after they have used it to purchase said bitcoins and received them..  I am not familiar with the issuers policies on stolen cards and aleged transactions as a result of said theft. Might be worth looking into. That aside they should still be useful for a one time use of transfer if there is no recourse for a would be scammer to recover funds they had already spent from the card.
kjj
legendary
Activity: 1302
Merit: 1026
You can do a chargeback with a prepaid card just like with a normal card.

The chargeback rules are enforced by VISA/MasterCard/Discover/etc, not by the issuing bank.
legendary
Activity: 1680
Merit: 1035
I had a thought about using prepaid VISA cards you can top off.

Buy such a VISA, write down the info, and send the VISA to the exchange operator. If you want to transfer money into your account, top off the VISA with another method (go to WalMart and deposit cash, or add money to it using another card), notify the exchange, and have them march to the nearest ATM and use your card to withdraw the balance into cash.

It's convoluted, and likely costly, but if you trust the exchange with your money, you can keep more on the card than you want to buy BTC with, and just ask them to take the cash from it for the amount of BTC you want to buy.
sr. member
Activity: 291
Merit: 250
Step 1. Deposit $10,000 to Bitcoin Debit exchange.
Step 2. Exchange $10,000 into X Bitcoin.
Step 3. Tell bank the $10,000 was invalid, request refund.
Step 4. Take X Bitcoin wallet and spend however you want.

Yep, this is the exact reason you will never see an exchange that lets you fund your account in this manner.
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
Step 1. Deposit $10,000 to Bitcoin Debit exchange.
Step 2. Exchange $10,000 into X Bitcoin.
Step 3. Tell bank the $10,000 was invalid, request refund.
Step 4. Take X Bitcoin wallet and spend however you want.
member
Activity: 112
Merit: 10
Hi,

I am just wondering when/if or if there are currently plans for a bitcoin exchange accepting debit card deposits? This would allow buying coins to be MUCH quicker and cheaper.. What is the current reason that this has not been attempted?
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