I posted an ad in a local classified ads site (craigslist would probably do), looking to purchase bitcoins and got a reply, met up with the 'seller' and exchanged the dollars (cash in hand) and coins (transferred via smartphone apps).
Worked out well and didn't have to worry about big-bank like entities.
EDIT: This post explains the 'why' perfectly -
https://bitcointalk.org/index.php?topic=164254.0 I've included the relevant sections from deepceleron below.
[...]
Why is it difficult to purchase Bitcoins with your old-fashioned money?If this is the fault of Bitcoin, it is because Bitcoin is too good. If you receive a payment with Bitcoin, you can be 100% sure that the money is yours and it can't be disputed or taken back out of your wallet. PayPal, Credit cards, ACH checking transfer and money wires, Chase Quickpay, Dwolla, and most any other banking payments, however,
can be reversed - they are less trustworthy than the Bitcoins you are trying to buy.
This is why even Bitcoin exchanges have rigorous verification procedures - they need to verify your identity thoroughly, not because of Bitcoin, but because they are taking your government currency, transferred through banks and payment processors, which is fundamentally problematic. Exchanges that only deal with Bitcoin-based virtual currencies (such as
Bitcoin to Namecoin) have no such identity requirements.
[...]
So how can you obtain bitcoins, if nobody on the Internet can tell the difference between you and a foreign crime syndicate? If you don't wish to go through the lengthy verification procedures on exchanges, I recommend you first investigate local traders who are willing to exchange bitcoins in person. Sites such as
https://localbitcoins.com/ or
http://www.tradebitcoin.com/ may help you find local Bitcoin users. Also, Bitcoin is for commerce - sell something and accept Bitcoin!
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