FreedomFund (OP)
Member
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Activity: 84
Merit: 10
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June 17, 2013, 03:23:11 AM |
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To my fellow Canadians,
What are your thoughts on the recent shutdown of BMO accepting deposits and does anyone have any information on the new format?
I appreciate any feedback, Thanks!
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Blockchain TV - Telling the stories of global blockchain adoption
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niko
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June 17, 2013, 03:38:12 AM |
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To my fellow Canadians,
What are your thoughts on the recent shutdown of BMO accepting deposits and does anyone have any information on the new format?
I appreciate any feedback, Thanks!
Not worried. Virtex took the full legal route, they pay taxes (gst is included in the fees), and this government seems very much ok with bitcoin businesses. BMO had their reasons, I don't care. Been transferring money online between my bank and virtex without any problems for over a year.
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They're there, in their room. Your mining rig is on fire, yet you're very calm.
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FreedomFund (OP)
Member
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Activity: 84
Merit: 10
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June 17, 2013, 03:42:56 AM |
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To my fellow Canadians,
What are your thoughts on the recent shutdown of BMO accepting deposits and does anyone have any information on the new format?
I appreciate any feedback, Thanks!
Not worried. Virtex took the full legal route, they pay taxes (gst is included in the fees), and this government seems very much ok with bitcoin businesses. BMO had their reasons, I don't care. Been transferring money online between my bank and virtex without any problems for over a year. Thanks for the feedback niko. I have not verified my cavirtex account as I have been doing deposits at the BMO branch. I guess i buy OTC or sit tight until they open up another cash deposit avenue.
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Blockchain TV - Telling the stories of global blockchain adoption
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niko
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June 17, 2013, 03:58:52 AM |
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To my fellow Canadians,
What are your thoughts on the recent shutdown of BMO accepting deposits and does anyone have any information on the new format?
I appreciate any feedback, Thanks!
Not worried. Virtex took the full legal route, they pay taxes (gst is included in the fees), and this government seems very much ok with bitcoin businesses. BMO had their reasons, I don't care. Been transferring money online between my bank and virtex without any problems for over a year. Thanks for the feedback niko. I have not verified my cavirtex account as I have been doing deposits at the BMO branch. I guess i buy OTC or sit tight until they open up another cash deposit avenue. I see. Try localbitcoins or even kijiji, too. I have not tried virtex cash deposits in a long time, so I can't provide any information. Good luck!
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They're there, in their room. Your mining rig is on fire, yet you're very calm.
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cavirtex
Full Member
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Activity: 143
Merit: 100
CAVIRTEX | Canadian Virtual Exchange
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June 17, 2013, 04:18:50 PM |
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To my fellow Canadians,
What are your thoughts on the recent shutdown of BMO accepting deposits and does anyone have any information on the new format?
I appreciate any feedback, Thanks!
Not worried. Virtex took the full legal route, they pay taxes (gst is included in the fees), and this government seems very much ok with bitcoin businesses. BMO had their reasons, I don't care. Been transferring money online between my bank and virtex without any problems for over a year. Thanks for the feedback niko. I have not verified my cavirtex account as I have been doing deposits at the BMO branch. I guess i buy OTC or sit tight until they open up another cash deposit avenue. As niko alluded to, if you verify your account you can make deposits via bill payment and direct withdrawal from your bank account. Both methods are safe and convenient. We hope to announce alternative cash deposit methods soon. Thank you for your patience and understanding.
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CAVIRTEX is Canada's #1 Bitcoin exchange with over 90 million CAD traded in our 3 years of operations. Visit https://www.cavirtex.com.
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Alexander The Great
Newbie
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Activity: 28
Merit: 0
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June 17, 2013, 05:04:29 PM |
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Government takeover is what it looks like to me
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moni3z
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June 17, 2013, 10:38:59 PM |
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Banks don't like doing anything that involves using a teller, they will drop you if it's too much work for them and not enough gigantic profitz
Too bad we don't have HSBC cash deposit machines like they have in Asia/Europe. Walk up, dump in cash and choose account #'er to credit it to. Next day it's there.
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Adelex
Newbie
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Activity: 36
Merit: 0
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June 18, 2013, 12:06:52 AM |
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I think a credit union could stand to gain a lot by positioning themselves as the defacto bitcoin bank.
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niko
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June 18, 2013, 12:58:13 AM |
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Banks don't like doing anything that involves using a teller, they will drop you if it's too much work for them and not enough gigantic profitz
Too bad we don't have HSBC cash deposit machines like they have in Asia/Europe. Walk up, dump in cash and choose account #'er to credit it to. Next day it's there.
This makes sense, and likely explains the BMO blockade.
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They're there, in their room. Your mining rig is on fire, yet you're very calm.
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superesc
Newbie
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Activity: 12
Merit: 0
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June 18, 2013, 02:46:57 AM |
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Was hoping BMO won't shut it down but I guess that was wishful thinking... waiting to see what their alternative plan is...
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macintosh
Newbie
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Activity: 28
Merit: 0
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June 18, 2013, 03:45:57 AM |
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What is BMO?
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macintosh
Newbie
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Activity: 28
Merit: 0
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June 18, 2013, 04:19:50 AM |
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I dont even know what Bmo means
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niko
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June 18, 2013, 02:40:28 PM |
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I dont even know what Bmo means
You will never know.
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They're there, in their room. Your mining rig is on fire, yet you're very calm.
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Portnoy
Legendary
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Activity: 2030
Merit: 1000
My money; Our Bitcoin.
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June 18, 2013, 03:32:53 PM |
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I think a credit union could stand to gain a lot by positioning themselves as the defacto bitcoin bank.
A credit union is all I ever use and have never had a problem. Forget the big banks.
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bongwater
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Activity: 14
Merit: 0
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June 18, 2013, 03:39:59 PM |
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This is not good.
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macintosh
Newbie
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Activity: 28
Merit: 0
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June 18, 2013, 05:35:10 PM |
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BMO shutdown can you explain this to me please
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niko
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June 18, 2013, 06:40:57 PM |
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BMO shutdown can you explain this to me please
Briefly, for a while Virtex had a deal with Bank of Montreal to allow for cash deposits: you log into your Virtex account and announce the deposit, then you walk into any BMO branch with Virtex' account info, and deposit cash. Now BMO decided not to allow this anymore, presumably because it's too much work for their tellers, and no profit.
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They're there, in their room. Your mining rig is on fire, yet you're very calm.
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cavirtex
Full Member
Offline
Activity: 143
Merit: 100
CAVIRTEX | Canadian Virtual Exchange
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June 19, 2013, 05:50:08 PM |
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New cash deposit procedures now available at CaVirtex. For complete details, please visit: https://www.cavirtex.com/news
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CAVIRTEX is Canada's #1 Bitcoin exchange with over 90 million CAD traded in our 3 years of operations. Visit https://www.cavirtex.com.
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