Bitcoins Direct Support Thread - page 2.

DannyHamilton

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Quote from: DeathAndTaxes on May 14, 2013, 04:20:56 PM

Update: Lots of coins available.

That wouldn't have anything to do with the turnover of 40,000 BTC at MtGox a bit over an hour ago, would it? Grin

Perhaps you managed to get some cheap purchases in as the exchange rate dropped to $109.42 and then bounced right back up to $116?

DeathAndTaxes

donator

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Gerald Davis

Update: Lots of coins available.

phishphood

newbie

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This was my first wire with TC but not my first transaction. Everything went smooth as ever and I had my coins in a matter of hours. This cat is highly recommended!

neil_mccauley

newbie

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Just made my first USD Wire to BTC transaction with TC and everything went perfect. Thanks guys!

TangibleCryptography

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Tangible Cryptography LLC

Quote from: Dabs on May 09, 2013, 09:51:10 AM

Quote from: TangibleCryptography on May 09, 2013, 09:38:14 AM

As long as your wire is made from a US bank you are fine.
As for foreign competitors, I certainly hope we get some.

That's good to know. Would it matter what bank? Or let me rephrase that, will it be better if I opened an account at Wells Fargo?

It doesn't matter. Any bank can wire funds to any other bank in minutes. The need for US based bank is US based banks follow certain KYC (Know your customer) procedures (proof of identity, checking against terrorist watchlist, etc). Foreign banks "may" not follow similar procedures which increases the KYC requirements for MSB. We simply don't have the time or resources to follow those enhanced KYC procedures so we opt out of accepting foreign wires. You can thank the US government for that burden.

Dabs

legendary

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The Concierge of Crypto

Quote from: TangibleCryptography on May 09, 2013, 09:38:14 AM

As long as your wire is made from a US bank you are fine.
As for foreign competitors, I certainly hope we get some.

That's good to know. Would it matter what bank? Or let me rephrase that, will it be better if I opened an account at Wells Fargo?

TangibleCryptography

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Tangible Cryptography LLC

As long as your wire is made from a US bank you are fine.
As for foreign competitors, I certainly hope we get some.

Dabs

legendary

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Quote from: ?? on ??

You probably need to look for a new source of bitcoins, and give up on purchasing them from BitcoinsDirect. Trying to find ways around their policy is just going to force them to have to try to prevent you from doing so. Telling everyone in the world in BitcoinDirect's forum thread how you plan to circumvent their policy is making it easier for them to identify your efforts and prevent you from doing so.

BitcoinsDirect has legal obligations. They are not going to risk their business and potentially their freedom to help you circumvent those obligations.

I'm not trying to circumvent or find ways around. I am trying to be in full compliance. If it means I have to be in the US, I just want to be clear about that before I buy my $3000 plane ticket or visit the US Embassy in my country to apply for a $200 visa. So when the immigration officer asks me "business or pleasure?" I can honestly say "a little bit of both."

That also means, I am fully documented by the US government and BitcoinsDirect should have no problem accepting my money once I legally open a US domestic bank account.

If I wanted to go around, I'd have done it already. Also, I'm not announcing that someone else could have done it as that goes without saying.

The alternative is to do business with an offshore competitor, if they even exist.

I probably won't even do it then, as it will cost me more to travel, than I would have wanted to buy only bitcoins. So, I'm just asking, in case I'm actually going there.

Dabs

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I'm not going to be laundering any money. I just want to buy bitcoins.

The uncle I mentioned is a blood relative (brother of my father) and we share the same last name (surname.) I can teach him to buy using GPG, but he's a senior citizen so that might involve more than a couple of emails and chats. He's been living in the United States for more than 30 years with 3 children (my cousins) and a few grandchildren.

It's that, or I fly to the US and open a US bank account; although that's going to be a problem for me since I've given up my green card years ago. I will have to fly in and land as a tourist on a multiple entry visa. I used to have a US bank account about 10 years ago when I was studying in UIC (University of Illinois in Chicago) and Northwestern University. So I had a state ID, a US driver's license, and of course my student ID. All expired now of course.

I want to buy as myself, not posing as someone else.

This could also be my excuse to revisit Six Flags or MGM or Florida. (I took a long road trip from IL to FL, with family, close to winter time.)

justusranvier

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Quote from: Dabs on May 08, 2013, 09:56:23 AM

Haven't you thought of the possibility that the third party might allow his name to be used, but the actual buyer is someone else who knows GPG?

It doesn't do anyone any good to talk about potential ways to bypass Bitcoin Direct's AML policy.

I'm positive they would rather devote their time to better serving customers, but unfortunately they have to operate in an environment in which doing that would get their bank accounts closed, business shut down, assets seized, and possibly involve them being kidnapped and thrown into cages. it's not that they don't want you as a customer, it's that there's a literal gun to their head restricting their ability to do business with you.

So don't take theses rules personally, and if you find some way to bypass them don't publicize it. As soon as they become aware of a way to bypass their policy they have to start thinking about additional precautions,, which means they now have to devote their time to finding ways to stay in compliance instead of selling Bitcoins.

TangibleCryptography

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Tangible Cryptography LLC

Quote from: Dabs on May 08, 2013, 09:56:23 AM

Quote from: TangibleCryptography on May 07, 2013, 11:43:34 PM

Sorry no. We can't accept funds from any third party on your behalf.

Is this due to all the new regulations and guidelines? You've effectively cut off all your international customers. So should I just get my uncle to actually order from you? I'd have to teach him GPG. Haven't you thought of the possibility that the third party might allow his name to be used, but the actual buyer is someone else who knows GPG?

Yes. We also understand this limits the service to US customers at the current time. No you can't use a third party. While it may be possible for you to "fool us" if we find out we are obligated to halt the transaction and file a SAR (Suspicious Activity Report). Yes we understand it is possible for someone to allow their bank account to be used, it is possible for someone to get another person to open a bank account in their name to get around various AML/KYC procedures. For illegal activitity this probably happens on a daily basis.

It doesn't matter how nonsensical the rules are noncompliance is noncompliance.

TL/DR:
a) we can only accept wires from US banks at the current time.
b) there is no ETA on when we will be able to accept international wires.
c) you can not have a third party process a transaction for you.

Now if someone were to buy some coins from us and they chose to sell them to you well that is beyond the scope of our business.

leinem

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Site completed ?

Dabs

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Quote from: TangibleCryptography on May 07, 2013, 11:43:34 PM

Sorry no. We can't accept funds from any third party on your behalf.

Is this due to all the new regulations and guidelines? You've effectively cut off all your international customers. So should I just get my uncle to actually order from you? I'd have to teach him GPG. Haven't you thought of the possibility that the third party might allow his name to be used, but the actual buyer is someone else who knows GPG?

TangibleCryptography

sr. member

Activity: 476

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Tangible Cryptography LLC

Quote from: Dabs on May 07, 2013, 10:42:05 PM

Quote from: DeathAndTaxes on May 07, 2013, 09:58:10 PM

One thing I would add is that anytime you talk to your bank use the exact words "BANK WIRE". Don't use any slang or other terms ("I need to transfer funds", "account to account transfer", "send money"). For clients who ran into problems it usually is their bank making a mistake because they DIDN'T use the words "BANK WIRE" and the bank assumed they wanted to do an ACH (Direct Deposit) transaction for example. To any new or potential clients (or even new client of other exchanges/brokers) the word "BANK WIRE" has an exact and specific meaning that is the same at any bank, anywhere in the world. Save yourself some time and confusion by making sure to only use those words when talking with your bank.

Hi. I'm an international customer, but you are not currently accepting bank wires from abroad. Can I get my cousin or uncle who has a US bank account to wire you the money? I make the PO, I get the funding instructions, I tell my uncle to send you the BANK WIRE. Then I get the bitcoins. (I'll pay my uncle later.)

Sorry no. We can't accept funds from any third party on your behalf.

Dabs

legendary

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The Concierge of Crypto

Quote from: DeathAndTaxes on May 07, 2013, 09:58:10 PM

One thing I would add is that anytime you talk to your bank use the exact words "BANK WIRE". Don't use any slang or other terms ("I need to transfer funds", "account to account transfer", "send money"). For clients who ran into problems it usually is their bank making a mistake because they DIDN'T use the words "BANK WIRE" and the bank assumed they wanted to do an ACH (Direct Deposit) transaction for example. To any new or potential clients (or even new client of other exchanges/brokers) the word "BANK WIRE" has an exact and specific meaning that is the same at any bank, anywhere in the world. Save yourself some time and confusion by making sure to only use those words when talking with your bank.

Hi. I'm an international customer, but you are not currently accepting bank wires from abroad. Can I get my cousin or uncle who has a US bank account to wire you the money? I make the PO, I get the funding instructions, I tell my uncle to send you the BANK WIRE. Then I get the bitcoins. (I'll pay my uncle later.)

koin

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Quote from: DeathAndTaxes on May 07, 2013, 09:58:10 PM

"BANK WIRE" has an exact and specific meaning that is the same at any bank, anywhere in the world.

domestic transfer in the u.s. uses fedwire with funds sent to a bank by its fed routing number. international transfer to a bank in the u.s. uses swift (only if the bank participates in the swift network) and funds set to a bank by its swift code. so even "bank wire" can mean multiple things based on the circumstances.

DeathAndTaxes

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Gerald Davis

Quote from: BCB on May 07, 2013, 09:53:27 PM

I've used Citibank, Wells Fargo and Bank of America personal accounts to wire funds to Bitcoins Direct. The Fees range between 18 (BofA) to 30(WF) for same day wire transfer (we are both in the United State). Actual same day delivery time is usually with in the hour (in my experience).

For Citibank and Bank of America you can create a wire payee and send online. (Some banks will also need to verbally confirm the payee you are adding the first time by a phone call to avoid fraud. The Bank will not leave a message if they call you and get voice mail if you do not state your name on your out going message. I've delayed some initial transfers due to this). The wire just silently failed and I had to follow up with the bank to find out what happened.

For Wells Fargo personal accounts there is no online function. I actually had to go into the bank to add Bitcoins Direct to send a wire. I prefer Wells Fargo for their p2p payment function (only between personal account).

Also, as all other clients have commented here, I've always received nothing but prompt payment and outstanding customer service the many times I've purchased coin from Bitcoins Direct. Thank you.

Thanks for the detailed comparison. Very helpful for new and potential clients. Bank Wires are pretty simple for those who have done them in the past but they can be somewhat intimidating.

One thing I would add is that anytime you talk to your bank use the exact words "BANK WIRE". Don't use any slang or other terms ("I need to transfer funds", "account to account transfer", "send money"). For clients who ran into problems it usually is their bank making a mistake because they DIDN'T use the words "BANK WIRE" and the bank assumed they wanted to do an ACH (Direct Deposit) transaction for example. To any new or potential clients (or even new client of other exchanges/brokers) the word "BANK WIRE" has an exact and specific meaning that is the same at any bank, anywhere in the world. Save yourself some time and confusion by making sure to only use those words when talking with your bank.

BCB

vip

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BCJ

I've used Citibank, Wells Fargo and Bank of America personal accounts to wire funds to Bitcoins Direct. The Fees range between 18 (BofA) to 30(WF) for same day wire transfer (we are both in the United State). Actual same day delivery time is usually with in the hour (in my experience).

For Citibank and Bank of America you can create a wire payee and send online. (Some banks will also need to verbally confirm the payee you are adding the first time by a phone call to avoid fraud. The Bank will not leave a message if they call you and get voice mail if you do not state your name on your out going message. I've delayed some initial transfers due to this). The wire just silently failed and I had to follow up with the bank to find out what happened.

For Wells Fargo personal accounts there is no online function. I actually had to go into the bank to add Bitcoins Direct to send a wire. I prefer Wells Fargo for their p2p payment function (only between personal account).

Also, as all other clients have commented here, I've always received nothing but prompt payment and outstanding customer service the many times I've purchased coin from Bitcoins Direct. Thank you.

TangibleCryptography

sr. member

Activity: 476

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Tangible Cryptography LLC

Quote from: chrisrico on May 07, 2013, 03:07:59 PM

Question: what banks do people use for personal accounts that offer same-day wire transfers, preferably initiated online?

My credit union SUCKS when it comes to this (and anything online-banking related), so I'm strongly considering switching.

Bank Of America & Wells Fargo both allow sending wires from online banking. I believe you need to call to enable bank wires but once setup you should be able to execute them online. This is based on information from customers and may be dated so always verify with the bank before opening an account.

chrisrico

hero member

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Question: what banks do people use for personal accounts that offer same-day wire transfers, preferably initiated online?

My credit union SUCKS when it comes to this (and anything online-banking related), so I'm strongly considering switching.

Topic: Bitcoins Direct Support Thread - page 2. (Read 77876 times)