Bitcoin Forum

I wanted to cash out some funds to my US accounts to pay off some debts. I can't do this directly to any of my accounts because all of my accounts are with banks that will immediately close your account if you're dealing with BTC. Hoping I can use etrade as a middleman.

Has anyone tried to cash out via etrade before? If so, what amounts have you cashed out?

Does anyone know of a btc friendly bank in the US?

This is the terms? i don't see any from their website that if you deal with bitcoin your account will be close immediately..
But i think better to contact them via support
https://us.etrade.com/contact-us

I don't really seen any post from their site.. Where did you get this news ?

What do you mean? I'm asking if anyone's ever used etrade to receive USD from cash outs. I don't know if they allow it or not. So far I've sent around 4K USD there. I guess I'll find out. Maybe I'm the first person who's tried to use etrade for btc cash outs.

If your banks going to lock up your bank account if bitcoin is involved, probably go for localbitcoins.com instead. You can probably set up a meetup with a localbitcoins buyer and receive your money directly in cash, depending on how much you're planning on selling of course.

Chase gives you shit for depositing large amounts of cash too. Specially, in the area of the US where I'm from, it's in the midst of a heroin epidemic. They'd assume I was a drug dealer. I went and bought a car with cash a few years back. The car dealers were all joking with each other thinking I was a drug dealer.

Guess I'll give etrade a try and report if they close my account or not. I suspect other trading houses would be suitable as long as they have an ACH routing number and give you an account number for deposits / withdrawals.

I don't what you mean by "cash out", but I have sent money from a Bitcoin exchange to my E*Trade bank account via both bank wire and ACH without any problems.

I've used both BMO Harris and Capital One to transfer funds to and from bitcoin exchanges.  Neither of them have complained.

I think you answered his question.

What exchanges have you uses for this?

Have you tried working with a credit union rather than a bank? Credit unions are similar to banks and from the customer's perspective seem the same as a bank, but they are owned by the members rather than a corporation. I know that the one I use has never had a problem working with Bitcoin exchanges. You might consider looking into one to see what their policies are concerning cryptocurrencies and see if you are able to join one.

Which bankd aren't friendly to these transactions? Banks make money off of money, why would they restrict an inbound transfer of money to your account? How do they know it's bitcoin related? Why would they care?

If your bank is being an ass this regard, a few options:

(1) get a bitcoin debit card, which will allow you to soend your bitcoin at point of sake or withdraw it slowky via a local ATM. Know thay ATM transactions carry higher fees.

(2) test small withdrawal to your etrade accpunt to see what action (if any) etrade takes.

In the US, transactions over $10,000 require reporting by the bank for the Feds. Keep your transactions below this level and you'll minimize attention. But as i started, what are you really worried about?

From my understanding, they're a bit difficult to get into. I vaguely remember I tried to get into an alumni union for my uni. But they wouldn't allow me since I didn't finish my degree :(. I've never served in the military, so USAA is out of the question.


Thanks, how much have you cashed out with them? I need to cash out about $15K to pay off credit card debts and I'm tempted to cash out another $100K to buy a condo.

By cash out, I mean, convert to cash. Sorry, maybe I go to the casino too much.