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Author Topic: Bank of the West is Shutting Down Our Account for Accepting Bitcoins  (Read 7938 times)
amagimetals
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July 19, 2013, 08:13:24 PM
 #1

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/

AmagiMetals.com is a global eCommerce precious metals retailer and advocates for free markets, free choice, financial responsibility, and sound money.
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italeffect
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July 19, 2013, 08:23:47 PM
 #2


Check out the Internet Credit Union at https://iafcu.org


http://www.reddit.com/r/Bitcoin/comments/1idmri/the_internet_archive_rescues_bitcoiners_from/

Dash: Xdopotr3eAHpsSCMkUyU2YWP3WQWb5X3t8
Rampion
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July 19, 2013, 08:25:02 PM
 #3

America, the land of the free.

TippingPoint
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July 19, 2013, 08:26:53 PM
 #4

Get off the grid.

Experience freedom.
AliceWonder
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July 19, 2013, 10:30:08 PM
 #5

America, the land of the free.

Freedom's just another word for nothing left to lose...

QuarkCoin - what I believe bitcoin was intended to be. On reddit: http://www.reddit.com/r/QuarkCoin/
bytemaster
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July 19, 2013, 10:36:34 PM
 #6

America, the land of the free.

Freedom's just another word for nothing left to lose...
How about not being afraid of losing anything.   

https://steemit.com  Blogging is the new Mining
justusranvier
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July 19, 2013, 11:08:53 PM
 #7

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/
FUEPA
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July 19, 2013, 11:33:42 PM
 #8

I was just going to suggest that bitcoin stop accepting Bank Of the West. Yeah!
CurbsideProphet
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July 20, 2013, 12:02:36 AM
 #9

America, the land of the free.

Bank of the West is owned by BNP Paribas so this might not just be a USA thing.

1ProphetnvP8ju2SxxRvVvyzCtTXDgLPJV
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July 20, 2013, 04:30:00 AM
 #10

Please let us know what you end up doing...

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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July 20, 2013, 12:43:48 PM
 #11

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.
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July 20, 2013, 12:48:16 PM
 #12

Get off the grid.

Experience freedom.


Not as easy as you might think.
pwi
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July 20, 2013, 03:53:59 PM
 #13

America, the land of the free.

Freedom's just another word for nothing left to lose...

<----- I <3 this

Buy my PS3 https://bitcointalk.org/index.php?topic=216554.msg2282760#msg2282760

Sign up with campbx:  https://campbx.com/main.php?r=3lo7dSqrLOu Yes it's an affiliate link, but you will not see me touting anything I do not both believe in and make extensive use of myself. Campbx is one of those things.
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July 21, 2013, 04:13:46 AM
 #14

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.
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July 22, 2013, 04:28:39 PM
 #15

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?

Securing the World's Bitcoin https://bitgo.com
amagimetals
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July 22, 2013, 05:15:43 PM
 #16

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.

AmagiMetals.com is a global eCommerce precious metals retailer and advocates for free markets, free choice, financial responsibility, and sound money.
Join us on: Facebook - Twitter - Google Plus
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July 22, 2013, 08:48:25 PM
 #17


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?

Securing the World's Bitcoin https://bitgo.com
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July 23, 2013, 04:24:36 AM
 #18

Is the bank black list site down? Can't connect...

co-founder, Monetas
creator, Open-Transactions
amagimetals
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July 25, 2013, 12:19:32 AM
 #19

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...

AmagiMetals.com is a global eCommerce precious metals retailer and advocates for free markets, free choice, financial responsibility, and sound money.
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amagimetals
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July 31, 2013, 01:49:29 PM
 #20

Ernest Hancock on LRN.FM will be interviewing Amagi Metals owner, Stephen Macaskill, about bitcoins, the banking industry, and our current banking situation.

AmagiMetals.com is a global eCommerce precious metals retailer and advocates for free markets, free choice, financial responsibility, and sound money.
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