Author

Topic: Buying bitcoins at Chase or Wells Fargo (Read 3123 times)

legendary
Activity: 1050
Merit: 1000
August 20, 2011, 10:42:26 AM
#12
Hi Serge,

Thank you for your concerns.

We are doing everything we can to ensure it remains mutually beneficial for ExchB and any bank that we would partner with.

As you mention, these are very large operations that are well-equipped to help any business that wants to use their services to collect funds. If you need to collect cash you can use their tellers. If you need to receive lots of checks they provide check scanners and PO Boxes....all for a fee.

Time will tell if something comes up that changes what we can do in respect to instant cash deposit, but until then we encourage anyone who wishes to, to give it a try. How else can a large number of people buy Bitcoin the same day?

Thank you,

David (weex)

Best of luck with your business.

I am saddened that there is a general sense of criminal activity going on when people want to spend their dollars the way they want to, including buying bitcoins.

It is sad but more over worrisome. 
If other exchanges begin to employ same remote deposits and it will gain so much attention, what could happen next?
hero member
Activity: 630
Merit: 500
Posts: 69
August 20, 2011, 08:30:19 AM
#11
Yeh.... you should deeeefinitely make frequent withdrawals juuuuust in case they decide to lock your account.

Off shore account, off shore account!

I'm guessing this is already done.  It's not just for the movies kids, if you live in America, you should have a non-American account.  Make sure to review heavily which island and bank you pick Smiley
hero member
Activity: 616
Merit: 500
August 20, 2011, 04:10:33 AM
#10
Yeh.... you should deeeefinitely make frequent withdrawals juuuuust in case they decide to lock your account.
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
August 20, 2011, 03:37:53 AM
#9
Hi Serge,

Thank you for your concerns.

We are doing everything we can to ensure it remains mutually beneficial for ExchB and any bank that we would partner with.

As you mention, these are very large operations that are well-equipped to help any business that wants to use their services to collect funds. If you need to collect cash you can use their tellers. If you need to receive lots of checks they provide check scanners and PO Boxes....all for a fee.

Time will tell if something comes up that changes what we can do in respect to instant cash deposit, but until then we encourage anyone who wishes to, to give it a try. How else can a large number of people buy Bitcoin the same day?

Thank you,

David (weex)

Best of luck with your business.

I am saddened that there is a general sense of criminal activity going on when people want to spend their dollars the way they want to, including buying bitcoins.

It is very sad. With the advent of digital money, the banks have handed an opportunity for dramatic expansion of a police state to the politicians who have shown no restraint whatsoever to assume the worst of the citizenry (guilty until proven innocent) and enacted the obnoxious KYC and attendant laws for wholesale invasions of financial privacy. In this respect, digital fiat money as we know it is deficient as money since it it then becomes less fungible than physical cash.
legendary
Activity: 1137
Merit: 1001
August 20, 2011, 03:06:35 AM
#8
Hi Serge,

Thank you for your concerns.

We are doing everything we can to ensure it remains mutually beneficial for ExchB and any bank that we would partner with.

As you mention, these are very large operations that are well-equipped to help any business that wants to use their services to collect funds. If you need to collect cash you can use their tellers. If you need to receive lots of checks they provide check scanners and PO Boxes....all for a fee.

Time will tell if something comes up that changes what we can do in respect to instant cash deposit, but until then we encourage anyone who wishes to, to give it a try. How else can a large number of people buy Bitcoin the same day?

Thank you,

David (weex)

Best of luck with your business.

I am saddened that there is a general sense of criminal activity going on when people want to spend their dollars the way they want to, including buying bitcoins.
legendary
Activity: 1102
Merit: 1014
August 20, 2011, 01:54:01 AM
#7
Hi Serge,

Thank you for your concerns.

We are doing everything we can to ensure it remains mutually beneficial for ExchB and any bank that we would partner with.

As you mention, these are very large operations that are well-equipped to help any business that wants to use their services to collect funds. If you need to collect cash you can use their tellers. If you need to receive lots of checks they provide check scanners and PO Boxes....all for a fee.

Time will tell if something comes up that changes what we can do in respect to instant cash deposit, but until then we encourage anyone who wishes to, to give it a try. How else can a large number of people buy Bitcoin the same day?

Thank you,

David (weex)
legendary
Activity: 1050
Merit: 1000
August 19, 2011, 03:33:52 PM
#6
This deposit method is working great for us.  Feel free to give it a try: buy a bitcoin or two!


-Arthur

Hi Arthur
Are your banks aware what kind of service/business you are running and allowing people from all over US deposit funds to you that way? I know it's very convenient and sometimes I have my clients make payments to me this way once in a blue moon, but nothing on such a national level.  My only concern is that once they find out from news media about being associated with Bitcoin in such a way they may cut you off (?) - I don't know if they can legally or if you can safely utilize deposits that way.  Remember in 90s most banks allowed second endorsement on checks, now - not any more.
full member
Activity: 132
Merit: 100
Ripple
August 19, 2011, 09:17:39 AM
#5
Here is another article:
http://tradewithdave.com/?p=7764

Also see the annoucement thread:
https://bitcointalksearch.org/topic/announce-exchb-now-lets-you-buy-bitcoins-with-cash-today-via-15000-locations-36602

This deposit method is working great for us.  Feel free to give it a try: buy a bitcoin or two!


-Arthur
full member
Activity: 182
Merit: 100
August 19, 2011, 09:04:09 AM
#4

I'm curious on how true this is. Is there any more information available? Perhaps a phone call to those Chase and Wells Fargo branches?

Its very true, I'm sure the branches don't know anything about it. As far as they know you're just depositing money into someone's account.
legendary
Activity: 1918
Merit: 1570
Bitcoin: An Idea Worth Spending
August 19, 2011, 08:58:21 AM
#3

I'm curious on how true this is. Is there any more information available? Perhaps a phone call to those Chase and Wells Fargo branches?
legendary
Activity: 1050
Merit: 1000
August 18, 2011, 01:51:56 PM
#2
Chase and WF won't like that article's title at all me thinks.

Not sure how banks will respond to this method of utilizing their deposit service, especially given the publicity connecting them with Bitcoin world.
legendary
Activity: 3066
Merit: 1147
The revolution will be monetized!
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