Topic: Face to face trade, my story. (Read 2073 times)

Yeah, we had the first one in the world actually:
http://www.time.com/time/specials/packages/article/0,28804,1914560_1914558_1914559,00.html

In my country you can't withdraw funds using your ATM card except via the ATM. The only way to withdraw money at the counter is via a cheque. No ID is required though.

I like face to face trades, just seems safe for me. Plus it's the only way I have really bought coins before. I am a pretty shy guy to people I haven't really met before so eating McDonalds with a complete stranger was a little nerve racking for me haha.

Nice story!

I have sold bitcoins a few times on a face to face basis, and its always at McD!

The issue of getting cash out of an ATM is a big problem which is just getting bigger - the most I think you can get out of a UK one is usually about £500 in the nicer parts of the country. 

Its great to hear a nice story about bitcoin which doesn't end badly!

Maybe this could become a trend?

Interesting read, I have never actually done a local trade because there are no 'other' bitcoin buyers/sellers in my area, which is sad.

I do carry ID, they wanted a passport tho.

Depends on what kind of ID we are talking about. In my country there's the ID and there's driver license. I often carry the driver's license but I hardly ever carry the ID and I believe the opposite, that it's dumb thing to do to always carry the ID. I can't get a bank loan or even withdraw cash from my bank account with my driver's license - and that's a good thing. I also don't do these things in my average day. The ID on the other side is more than enough for identity theft and if you have a bank clerk working with you, it's trivial to take lots of loans with stolen IDs.

I see a lot of people with wallets full of sensitive stuff - five to ten different cards, all kinds of IDs, basically with every financial and/or personal information token they have. Now that is a dumb thing to do to always carry all that with yourself even if you hardly ever need most of this stuff. I usually have just cash and/or one low-limit/balance card for everyday usage and driver's license with me. I pick other stuff on a intend-to-use basis. I never had my wallet lost or stollen, but if I had, no really harm done. Losing a wallet with the ID and all the cards on the other side, now that's a real pain in the ass and possibility of being a victim of some financial/identity theft crime. Thanks, but no thanks.

Here in the US I think banks can set their own withdrawal limits for their ATMs? I have not checked in a while, but the ATMs I usually use have a $500 limit. A few years back I was going to buy a truck from one of my girlfriend's friends (I had just totaled my car running into a deer). My girlfriend picked me up and drove me to get the truck, about an hour drive. I had planned to write a check, but realized I forgot my checkbook at home, and it was evening so all the banks were closed. So we stopped at an ATM and both used the max withdrawal of $500 to get the $1000 I needed for the truck. I never officially paid her back, but now we are married and she just takes my whole paycheck

I am surprised they totally turned you away just because you didn't have any ID (which is a dumb thing to do, why don't you just always carry your ID?), Isn't there some sort of security questions you can answer and forms to fill out certifiying you are who you say you are in the case when you don't have any ID? All that hulabaloo for just 600 pounds?

I know with my bank and I can and have my ATM limit raised... Usually they even ask for how long.

In the USA - most ATMs have a $400 withdrawal limit.  Being able to pull 2000 Euro from an ATM must be nice lol

This is rather new. I remember when the withdrawal limit at my bank was 400 Mark. Yes, Mark.

True, if banks go bust you will have thousands of people withdrawing all their money from ATM's.

That's because UK banks have recently had bank runs so they dont dare put the limits up.  It's something people in the UK have wanted for years.  

EDIT: Note -- expect this in germany soon!

Yea, it sucks. Shame it's my account and I can't even set my own limits.

That is weird. In my country you can usually set your own limits for each card. ATMs have hard limit of a single withdrawal amount but it's mostly due to number of bills that can be disposed in one go (20-30 bills). But if you want more, you can simply withdraw twice. I used to withdraw equivalents of 3000 GBP without any problems.

Yea, it's the limit everywhere. Not sure, think it is for fraud purposes. ATM fraud is high in the UK, helps avoid someone cleaning your bank out.

Do all banks in UK have such ridiculously low ATM limits, or are there some which have higher limits?

ATM withdrawal limits in German banks are commonly 1000 EUR or 2000 EUR a day (roughly 850 GBP or 1700 GBP), in Polish banks 5000 PLN a day is most common (around 1000 GBP).

Why do UK banks prevent people for using ATM's for larger amounts, while on the continent many banks have no problem with that, which is very useful when for example buying a used car from someone. So when you buy a used car in UK after bank opening hours you can't withdraw the money from an ATM, but have to do it earlier, and then carry the cash around - not very safe. Better keep it on the account until the deal is decided on, which can often happen in evening after-work hours when banks are closed. A thousand or two worth of Euros or pounds is a common amount to pay in cash for a used car, so UK banks force unsafe practice of having to withdraw earlier and carry cash around in such cases?

You can only withdraw 300 GBP a day from them.

Yea, that's the second thought - why didn't you use an ATM?

Nice story, very enjoyable to read.