Payment processing sites that allow bitcoin trading - page 2.

ColdHardMetal

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Quote from: Challengerek on May 01, 2011, 01:43:56 PM

Interesting! Does anybody know if they don't accept buying financial instruments due to their own internal rules or is there some sort of general legal issue?

It's probably related to anti-money laundering regulations in whatever jurisdiction they are based in. They just don't want the hassle more than anything I expect.

Challengerek

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Interesting! Does anybody know if they don't accept buying financial instruments due to their own internal rules or is there some sort of general legal issue?

weavejester

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With the recent closing down of Coinpal, I've been looking into the terms and conditions of alternative payment processing sites, to see whether they would allow buying bitcoins. Some other people are probably doing the same thing, so this thread is an attempt to collect everyone's investigations into one place (or at least a place to report my own investigations).

The sites I've looked at so far:

Google Checkout

Forbids "Financial products, services and stored value" and "Discounted currencies or currency exchanges" (reference).

Amazon Payments

Forbids "Cash or cash equivalent instruments - including but not limited to money orders, travelers' checks, and generally accepted stored value products." (reference).

AlertPay

Forbids "Using or selling any form of e-cash, web cash or other matter, tangible or not, that is redeemable by a Buyer for a product or service from a third party." (reference).

NoChex

Forbids "Currency, bullion or prepaid debit/credit cards" (reference).

Moneybookers

Requires approval for "money exchange or remittance businesses, including but not limited to bureaux de change, currency exchanges and purchase of travel money" (reference). I enquired about approval for bitcoin, but they told me it would not be allowed. (And even closed down the account I used to make the request!)

So as yet I've not found a payment processing site that seems like it would allow bitcoins. I'll continue to look around, and update this thread as I do.

Topic: Payment processing sites that allow bitcoin trading - page 2. (Read 3150 times)