Topic: Can you pay your household bills with bitcoin ? - page 3. (Read 6832 times)
I am waiting for the day when I will be able to pay household bills directly with bitcoins.
Could be done on top of Bit-Pay, but they already charge ~5% for EUR. Add your own margin on top of that and soon you pay a premium close to 10% just for a simple SEPA transaction.
Also I'm not 100% sure how the legal situation is in that regard. In the end it goes like this for the company: "Someone gives me play money and a filled out SEPA form, and as soon as I received 'enough' of the play money I send forward the Euros from that SEPA transaction on my own.". Might be completely simple and easy to do, or it might be a heavily regulated field, with AML laws, licenses and whatnot - I personally have no idea.
Also I'm not 100% sure how the legal situation is in that regard. In the end it goes like this for the company: "Someone gives me play money and a filled out SEPA form, and as soon as I received 'enough' of the play money I send forward the Euros from that SEPA transaction on my own.". Might be completely simple and easy to do, or it might be a heavily regulated field, with AML laws, licenses and whatnot - I personally have no idea.
@Tuxavant - excellent !
Each service that we create just makes bitcoin easier and easier to use.
Each service that we create just makes bitcoin easier and easier to use.
I now work for a company that resells utility services(gas, electricity, phone). I am actively engaging the executives within this organization and sharing my excitement and knowledge of Bitcoin. Some day, soon, someone is going to make this happen and it will be BIG Fing news.
I would think that a bill pay service would be fairly easy to set up and do pretty well making a few % per transaction.
You just set up a web page that accepts BTC, get a form they fill out of the amount, name, address and account number of where they want the check to go. Then just print out the checks and mail them out every day.
Sounds like something bit-pay could do fairly easily if they wanted the extra load.
You just set up a web page that accepts BTC, get a form they fill out of the amount, name, address and account number of where they want the check to go. Then just print out the checks and mail them out every day.
Sounds like something bit-pay could do fairly easily if they wanted the extra load.
Spendbitcoins.com offers a bill paying service using the Australian BPAY system.. With that you can pay pretty much any bill you have, rent, energy, rates even taxes.
Probably doesn't help you out in Europe though.
Probably doesn't help you out in Europe though.
I was just doing my monthly accounts with an old school bank account and moving money around with PayPal etc.
Examining it with a bitcoin eye, the only thing I could not do with bitcoin is pay my household bills.
If I could replace my standing orders and direct debits with a bitcoin equivalent I would hardly need a bank account.
(Well I would need a bit of fiat to pay for my groceries and petrol).
Are there any services - existing or being worked on - that ?:
1) Take regular bitcoin payments
2) Convert to fiat - say buying directly on an exchange at the spot rate.
3) Pay domestic bills in a 'direct debit' fashion.
4) Perhaps with an API so that the user can pull their most recent bills into a suitable client.
There is no chargeback risk as they are accepting bitcoin.
I would be happy to pay a percent or 2 for the service.
The user has a "float risk" - the amount of bitcoin/ fiat in the service from when you put the bitcoin in and the fiat comes out but that would a short period of time. ( a few hours?).
I am in Europe - SEPA payment area - but let's include USD too.
Examining it with a bitcoin eye, the only thing I could not do with bitcoin is pay my household bills.
If I could replace my standing orders and direct debits with a bitcoin equivalent I would hardly need a bank account.
(Well I would need a bit of fiat to pay for my groceries and petrol).
Are there any services - existing or being worked on - that ?:
1) Take regular bitcoin payments
2) Convert to fiat - say buying directly on an exchange at the spot rate.
3) Pay domestic bills in a 'direct debit' fashion.
4) Perhaps with an API so that the user can pull their most recent bills into a suitable client.
There is no chargeback risk as they are accepting bitcoin.
I would be happy to pay a percent or 2 for the service.
The user has a "float risk" - the amount of bitcoin/ fiat in the service from when you put the bitcoin in and the fiat comes out but that would a short period of time. ( a few hours?).
I am in Europe - SEPA payment area - but let's include USD too.
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