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Title: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: amagimetals on July 19, 2013, 08:13:24 PM Hello bitcoin community,
BotW is shutting down our bank account for accepting bitcoins and we need your help suggesting a new bitcoin-friendly bank! Most of our business is not in bitcoins, however we wish to continue serving the bitcoin community and we are not happy with BotW! For more information: http://www.reddit.com/r/Bitcoin/comments/1inixa/bank_of_the_west_is_shutting_down_our_bank/ Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: italeffect on July 19, 2013, 08:23:47 PM Check out the Internet Credit Union at https://iafcu.org http://www.reddit.com/r/Bitcoin/comments/1idmri/the_internet_archive_rescues_bitcoiners_from/ Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: Rampion on July 19, 2013, 08:25:02 PM America, the land of the free.
Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: TippingPoint on July 19, 2013, 08:26:53 PM Get off the grid.
Experience freedom. Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: AliceWonder on July 19, 2013, 10:30:08 PM America, the land of the free. Freedom's just another word for nothing left to lose... Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: bytemaster on July 19, 2013, 10:36:34 PM America, the land of the free. Freedom's just another word for nothing left to lose... Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: justusranvier on July 19, 2013, 11:08:53 PM Hint: Start organizing your businesses in such a way that you don't require a bank account at all. Here's an example of how it might work:
http://www.reddit.com/r/BitSpend/comments/1gqjf8/an_open_letter_to_the_bitspend_team/ Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: FUEPA on July 19, 2013, 11:33:42 PM I was just going to suggest that bitcoin stop accepting Bank Of the West. Yeah!
Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: CurbsideProphet on July 20, 2013, 12:02:36 AM America, the land of the free. Bank of the West is owned by BNP Paribas so this might not just be a USA thing. Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: Melbustus on July 20, 2013, 04:30:00 AM Please let us know what you end up doing...
Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: crumbs on July 20, 2013, 12:43:48 PM Hint: Start organizing your businesses in such a way that you don't require a bank account at all. Here's an example of how it might work: http://www.reddit.com/r/BitSpend/comments/1gqjf8/an_open_letter_to_the_bitspend_team/ Are you joking? This? \/ "Another way to allow Bitcoin users to shop at stores that only accept USD is to match them up with people who want to buy Bitcoins with Dollars." Just so i get this straight: -I sell mittens for bitcoin. -I should provide my bitcoin customers with middlemen who will buy their bitcoins for dollars? -Once my customers have exchanged their bitcoins into dollars, they spend their dollars to buy my mittens? a) How am i a bitcoin store? I obviously want nothing to do with bitcoin, requiring my customers to turn their bitcoins into dollars before i touch their money. b) Who in their right mind would go through such rigmarole to buy a pair of mittens? Most would simply stop pretending they're Rube Goldberg & trade in dollars. Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: Lethn on July 20, 2013, 12:48:16 PM Get off the grid. Experience freedom. Not as easy as you might think. Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: pwi on July 20, 2013, 03:53:59 PM America, the land of the free. Freedom's just another word for nothing left to lose... <----- I <3 this Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: TippingPoint on July 21, 2013, 04:13:46 AM Get off the grid. Experience freedom. Not as easy as you might think. I agree. And there are things that I cannot move off the grid. Those things are taxed and tracked up the ying yang. It is legalized theft and servitude. Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: BitGo on July 22, 2013, 04:28:39 PM Hello bitcoin community, BotW is shutting down our bank account for accepting bitcoins and we need your help suggesting a new bitcoin-friendly bank! Most of our business is not in bitcoins, however we wish to continue serving the bitcoin community and we are not happy with BotW! For more information: http://www.reddit.com/r/Bitcoin/comments/1inixa/bank_of_the_west_is_shutting_down_our_bank/ Where you only accepting bitcoins as donations? Or where you exchanging/selling/buying BTC with USD? Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: amagimetals on July 22, 2013, 05:15:43 PM Hello bitcoin community, BotW is shutting down our bank account for accepting bitcoins and we need your help suggesting a new bitcoin-friendly bank! Most of our business is not in bitcoins, however we wish to continue serving the bitcoin community and we are not happy with BotW! For more information: http://www.reddit.com/r/Bitcoin/comments/1inixa/bank_of_the_west_is_shutting_down_our_bank/ Where you only accepting bitcoins as donations? Or where you exchanging/selling/buying BTC with USD? We accept bitcoins as payment for our products. However we do not sell them or exchange them with individuals. Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: BitGo on July 22, 2013, 08:48:25 PM We accept bitcoins as payment for our products. However we do not sell them or exchange them with individuals. Did they tell you why they closed your account for accepting Bitcoin? For example, did they think you were a Money Transmitter? Or did they not give a reason other than that you were accepting BTC? Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: fellowtraveler on July 23, 2013, 04:24:36 AM Is the bank black list site down? Can't connect...
Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: amagimetals on July 25, 2013, 12:19:32 AM Wells Fargo will not allow us to open an account with them. They said that they will not work with any business that accepts, sells, or holds bitcoins.
Even if you are a business that holds onto bitcoin... Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: amagimetals on July 31, 2013, 01:49:29 PM Ernest Hancock on LRN.FM will be interviewing Amagi Metals owner, Stephen Macaskill, about bitcoins, the banking industry, and our current banking situation.
Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: MrHempstock on August 03, 2013, 01:28:36 AM I wish you and your business the best and much profit in life.
And we should continue to notify each other of hostile banks. But with those things said, I can't for the life of me understand why so many BTC users/ companies act SURPRISED when their bank shuts them down or otherwise misbehaves when they realize your involved with BTC. I mean, jeez, it's not like BTC is a threat to the current banking system or anything. Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: joesmoe2012 on August 04, 2013, 06:33:58 AM I've added this to the list of hostile banks thread:
https://bitcointalk.org/index.php?topic=264679.0 Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: amagimetals on August 16, 2013, 07:17:10 PM Update:
We are now banking at a few locations, the most notable being IAFCU which the bitcoin community strongly recommended. Thank you for all your help and support! Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: jonoiv on August 16, 2013, 08:30:43 PM Why do you need a bank?
Go on the silk road and get a bitcoin creditcard! Top it up in BTC and withdraw in USD or Euro at the ATM. Disclaimer: I have never tried it, just noticed them while snooping around :) Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: Polyatomic on August 17, 2013, 07:49:05 AM Can customers still make purchases using bitcoin.
Title: Re: Bank of the West is Shutting Down Our Account for Accepting Bitcoins Post by: amagimetals on August 18, 2013, 03:37:46 PM Can customers still make purchases using bitcoin. Of course! Here is our trading post: https://bitcointalk.org/index.php?topic=130831.0 |