Topic: UK ATM Locations (Read 1143 times)

Certainly an interesting idea, but as people have mentioned, you'd have to be properly licensed in order to handle the fiat currency.

Because it involves fiat money. So a bank with have to be involved at some point and the business will have to play by their rules.

I hope I'm wrong and banks do play nicely. But they have very little to gain from Bitcoin and a lot to loss if it becomes widespread.

Anyway our UK government will just tax it to death when converted to fiat anyway. They are good like that.

A bank doesn't have to be involved. I don't see how this would be different than buying a ticket or topping up your phone or something from a machine.

firstly ontopic:
i also agree Airports seem most suitable, aswell as train stations as the first main places to have ATM's

now slightly off topic:


complete over exadjuration.

for one UK banks do not have problems with bitcoins. they do however have problems with teenage entrepreuners or "young folk" with business plans wrote in crayon..dang it thats my exadjuaration.

what i mean to say is in the past, people setting up accounts in the UK for the purpose of bitcoin business, have themselves ( the people ) been so fearful of government response to bitcoin, and fearful of accusation that they would be accused of drug smuggling due to the propaganda, that these businesses had informed their banks they were selling 'advertising' or 'game credits'.

as long as you know the HMR rules on wire transfers, AMLCCD (anti-money laundering/Customer Due Diligence (UK version of AML/KYC)) and your upfront from the start that your business is bitcoin related. then your fine.

a few accounts have been frozen due to the chargeback kings crocodile tears attempts at getting their funds back, and when scammers say "i was hacked and someone bought bitcoins through this account" which starts banking investigations. and then the business is indeed found to be trading bitcoins, although their business plan states "advertising space". of course the banks wont just let the account continue, uninhibited.

its not bitcoins they hate, its the fact that stories dont match up, creating risk. however i have been honest with my bank and they are happy with my business. i also know of others too.

in the past it has been found that 'retail' banks are easier to deal with then 'investment' banks. meaning a bank that is aimed at consumer savings and retail business, as oppose to private investment companies.

i do not have a definitive list but generally from speaking to dozens of others it appears that banks related to the HBOS group are more accepting if bitcoin based business plans, as oppose to banks related to the RBS group.
EG
HBOS=LLoydsTSB, Bank of scotland, Halifax
RBS=Royal Bank of scotland, Natwest, Ulstar bank

there have been some instances where HSBC have had minor issues with some customers. but as i said above i do not have a definitive list of the least head-achy banks to deal with

oh and with the announcement that richard branson accepted BTC for a virgin galactic ticket. it may be worth while trying Virgin Money. just be honest from the start, that your business is indeed bitcoin related and that you will do all you can to avoid/limit/prevent illegal activity. and you should be fine

Hi

I second the Heathrow loacation

No UK bank will deal with anything Bitcoin related. Banks are too hostile towards it.

Heathrow airport would be a good idea. I'm surprised there aren't any stock IPO type crowdfunders to buy a few ATMS. The ATM in Vancouver has seen almost nonstop action this past week, they must be making a fortune.

There's tens of thousands of ATMs all over the UK, but as far as I'm aware there isn't one that dispenses BTC yet . There was one at a tech fair down in London a few months ago, but I'm sure they will start to pop up all over in 2014.

Are you wanting to set one up?

If anyone feels they have a good ATM location and has rights to place it there.

Please PM would to hear your idea's.