western union refusing wire transfers

empoweoqwj

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Quote from: akaman on January 28, 2014, 06:37:14 PM

Quote from: justusranvier on January 27, 2014, 04:00:44 PM

Quote from: akaman on January 27, 2014, 03:39:18 PM

Question is: How are we going to get value *into* the bitcoin economy without the aid of banks? Ripple?

Sweat equity.

No. Assuming I reward my employees/contractors for their work with bitcoins. How will *I* obtain those coins? At some point someone needs to purchase coins from someone else.

You have no way of obtaining bitcoins at the moment? Its like being back in 2012

ZephramC

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Quote from: akaman on January 28, 2014, 06:37:14 PM

Quote from: justusranvier on January 27, 2014, 04:00:44 PM

Quote from: akaman on January 27, 2014, 03:39:18 PM

Question is: How are we going to get value *into* the bitcoin economy without the aid of banks? Ripple?

Sweat equity.

No. Assuming I reward my employees/contractors for their work with bitcoins. How will *I* obtain those coins? At some point someone needs to purchase coins from someone else.

Provide something that bitcoin owners desire.

empoweoqwj

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Activity: 518

Merit: 500

Quote from: BreathOfZen on January 27, 2014, 05:00:49 PM

Quote from: akaman on January 27, 2014, 03:37:46 PM

Quote from: Jmh428 on December 12, 2013, 12:19:58 AM

I tried two different wire transfers today into bitstamp and both were rejected. The first was a smaller wire tranfer company i used before for bitstamp and the second one was at my bank and they deal with western union. They said that western union will not transfer to any bitcoin related business account. That was a surprise to me. I still got stuck with the related wire transfer charges from the bank! Im in Canada. Should I fight this and demand that they transfer the money or what are my options?

I just had the same happen to me today. My bank (a credit union in the US) use Western Union for international wires. The wire was returned after 1 business day, with WU simply stating they do no transact with "this entity" (i.e. Bitstamp). Asked my bank for a copy of the letter from Western Union but they refused. In any case, WU's intentions is easy enough to decipher: Western Union is boycotting Bitstamp (and probably other BTC exchanges they know of). Quite predictable though when you think of it...

My bank refunded the 40 USD wire transfer fee and apologized.

I just had a wire transfer from my credit union to Bitstamp rejected by WU today as well. The only difference between our stories is that they didn't apologize too much Sad

So WU are decided to fight rather than work with bitcoin. Interesting (but completely wrong) strategy.

akaman

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Quote from: justusranvier on January 27, 2014, 04:00:44 PM

Quote from: akaman on January 27, 2014, 03:39:18 PM

Question is: How are we going to get value *into* the bitcoin economy without the aid of banks? Ripple?

Sweat equity.

No. Assuming I reward my employees/contractors for their work with bitcoins. How will *I* obtain those coins? At some point someone needs to purchase coins from someone else.

BreathOfZen

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Activity: 140

Merit: 100

Quote from: akaman on January 27, 2014, 03:37:46 PM

Quote from: Jmh428 on December 12, 2013, 12:19:58 AM

I tried two different wire transfers today into bitstamp and both were rejected. The first was a smaller wire tranfer company i used before for bitstamp and the second one was at my bank and they deal with western union. They said that western union will not transfer to any bitcoin related business account. That was a surprise to me. I still got stuck with the related wire transfer charges from the bank! Im in Canada. Should I fight this and demand that they transfer the money or what are my options?

I just had the same happen to me today. My bank (a credit union in the US) use Western Union for international wires. The wire was returned after 1 business day, with WU simply stating they do no transact with "this entity" (i.e. Bitstamp). Asked my bank for a copy of the letter from Western Union but they refused. In any case, WU's intentions is easy enough to decipher: Western Union is boycotting Bitstamp (and probably other BTC exchanges they know of). Quite predictable though when you think of it...

My bank refunded the 40 USD wire transfer fee and apologized.

I just had a wire transfer from my credit union to Bitstamp rejected by WU today as well. The only difference between our stories is that they didn't apologize too much Sad

justusranvier

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Quote from: akaman on January 27, 2014, 03:39:18 PM

Question is: How are we going to get value *into* the bitcoin economy without the aid of banks? Ripple?

Sweat equity.

akaman

sr. member

Activity: 247

Merit: 250

Quote from: franky1 on December 12, 2013, 02:44:40 AM

bitcoin allows you to transfer value to anyone without restriction
bitcoin allows you to own and possess value

banks and fiat transfer systems block transfers of their IOU's, add alot of fee's to reduce IOU's value and give delays of upto 3-5 days.

this all proves that bitcoin is a better system then the banking system

once bitcoin goes mainstream to purchase groceries and utitities we can be free of the banking system

Thanks for re-iterating the same propaganda we've heard a zillion times. Question is: How are we going to get value *into* the bitcoin economy without the aid of banks? Ripple?

akaman

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Activity: 247

Merit: 250

Quote from: Jmh428 on December 12, 2013, 12:19:58 AM

I tried two different wire transfers today into bitstamp and both were rejected. The first was a smaller wire tranfer company i used before for bitstamp and the second one was at my bank and they deal with western union. They said that western union will not transfer to any bitcoin related business account. That was a surprise to me. I still got stuck with the related wire transfer charges from the bank! Im in Canada. Should I fight this and demand that they transfer the money or what are my options?

I just had the same happen to me today. My bank (a credit union in the US) use Western Union for international wires. The wire was returned after 1 business day, with WU simply stating they do no transact with "this entity" (i.e. Bitstamp). Asked my bank for a copy of the letter from Western Union but they refused. In any case, WU's intentions is easy enough to decipher: Western Union is boycotting Bitstamp (and probably other BTC exchanges they know of). Quite predictable though when you think of it...

My bank refunded the 40 USD wire transfer fee and apologized.

franky1

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Merit: 4766

bitcoin allows you to transfer value to anyone without restriction
bitcoin allows you to own and possess value

banks and fiat transfer systems block transfers of their IOU's, add alot of fee's to reduce IOU's value and give delays of upto 3-5 days.

this all proves that bitcoin is a better system then the banking system

once bitcoin goes mainstream to purchase groceries and utitities we can be free of the banking system

Serge

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Merit: 1000

i gave WU so much legit business over past decade plus some more years, in the end they banned me from using their services because i sent out two transfers at the same day for equal amounts to one person, no real reason was provided except that their anti-fraud department didn't approve the transfers, i couldn't reach anyone there to clear things up and to provide any necessary details and paperwork for my transfers. and ofc nowhere it said i couldn't do two identical amount transfers at the same day to a single person - my reason for doing that was debit card limits because WU debit charge goes as an ATM withdraw or something like that.
I understand their position, as there are tons of fraud going through their system or at least it used to, but they don't give legit users/businesses options to differentiate themselves from fraud in a first place. I also hated that their online service inquire higher fees than going though a local agent - what a nonsense. their 'conservative' outdated means of doing business will lead them in the same path as AOL.

btw i also find it strange that OP mentions a bank doing wire transfers through WU, although it could be possible as there is whole section for businesses on their web site.

gog1

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I don't get this, Western Union is doing the wire? Ain't u doing it from a bank?

Jmh428

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I tried two different wire transfers today into bitstamp and both were rejected. The first was a smaller wire tranfer company i used before for bitstamp and the second one was at my bank and they deal with western union. They said that western union will not transfer to any bitcoin related business account. That was a surprise to me. I still got stuck with the related wire transfer charges from the bank! Im in Canada. Should I fight this and demand that they transfer the money or what are my options?

Topic: western union refusing wire transfers (Read 6442 times)