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Author Topic: Opinions on using OKpay to purchase Bitcoin from the UK  (Read 873 times)
GreenerK
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April 08, 2013, 11:43:52 AM
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Can anyone share their experience with using OKpay as a source of purchasing Bitcoin from a UK account? Including timescales, fees, issues etc.

I can see from their site that they support converting deposited funds into Bitcoin (once you're verified of course) but the site is not really clear on the timescales or fees involved.

I've had a search through these forums, but can't find anything concrete.

I'm currently trying the UK Bank Account -> TransferWise -> BitStamp method as this seems to be the recommended process. But it's not exactly quick. By the time the funds have cleared, I'd be just as better off buying from BitBargain's current 20% rates, judging by the rate at which Bitcoin is climbing.

The Bitstamp method does feel like a very "clean" process, but if OKpay were a possibility it would cut out an extra step.


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Riddar
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April 08, 2013, 11:53:22 AM
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Timescale - a day or two. They say verification can take three days, but I submitted (and was rejected) within a day, then approved the next day with a modified form. You can pay for expedited verification.

Funding is good if you don't mind waiting a few days for a bank wire to move and paying for a bank wire. I get high wire fees from my bank (and found all the other funding options sketchy as hell, IMO), so I ended up not going through with using that site.
GreenerK
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April 08, 2013, 12:05:19 PM
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Thanks Riddar,

I think I get charged about £22 for a bank wire from my bank, which tips the decision somewhat.

So once verified and the wire has gone through, how much do OKpay take off the top? The site suggests £4 but the wording is a little vague.

£26 and a few days wait almost makes it not worth it, considering the "get quickly" services such as BitBargain then come close to the overheads.
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July 05, 2013, 09:53:49 AM
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I know this thread is old, but just wanted to comment on top.

The UK Bank > Transferwise > Bitstamp route is now shut off from Transferwise - http://www.thebitcoinchannel.com/archives/3960

What alternatives are UK Bitcoin enthusiasts using now that Transferwise limped out...?
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