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Author Topic: List of Bitcoin Hostile (and friendly) Banks  (Read 25663 times)
joesmoe2012
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July 30, 2013, 09:51:03 AM
 #1

Let's discuss which banks are, and which banks are not bitcoin friendly.

I will try to keep this post updated with all new information as it comes in, feel free to PM me or reply to this thread if you have something to add.

(please note, just because a few transfers from bitcoin exchanges have gone through, doesn't make a bank necessarily bitcoin friendly. This list is for banks who have a proactive attitude towards bitcoin, publicly endorse it, or support major exchanges.)


And now for the list of Banks and their bitcoinfriendly-ness:

To qualify on the list a bank or payment processor must without explanation terminate or refuse business of legitimate bitcoin busineses. The point of this threas is to name and shame said institutions and to encourage people who are there customers, regardless of bitcoin, to take there business elsewhere.

Australia:

   Commonwealth Bank of Australia
         CurrencyFair (Website)
      
  • CurrencyFair denies the application for any business having anythinng to do with bitcoin.
   OzForez.com.au
      
  • Denids the application of any business having anything to do with bitcoin.
      
      
Canada:

   The Royal Bank of Canada (Link)
         
   BMO
      
  • CanadaBitcoins was accepting cash deposits here, but accounts closed due to AML/KYC Requirements. Link.
  • CanadaBitcoins no longer accepting cash deposits at all to BMO, verified or not. Link.

   CIBC
      
  • CanadaBitcoins was accepting cash deposits here, but accounts closed due to AML/KYC Requirements. Link.[url=http://

   Royal Bank of Canada  
      
   Royal Bank of Canada  
      
   Toronto-Dominion Bank
               
   Bank of Nova Scotia  
         

   TDBank (Link)
      
   TD Dominion
      
  • CanadaBitcoins was accepting cash deposits here, but accounts closed due to AML/KYC Requirements. Link.[url=http://

   Taype
      
  • "Canadianbitcoins: Aug 6 2013   TAYPE INTERNATIONAL has been temporarily replaced with DIRECT WORLD for all Bill Payment Banks. Please do not send any payments to your TAYPE payee if you already have one setup in your online banking.Aug 6 2013 "
      
   Vogogo
      
  • "Cavirtex Aug. 6, 2013, 3:11 p.m. - New Bill Payment Provider - Vogogo: For rapid and secure processing of your online bill payments, we have partnered with Vogogo. One of the main reasons for this is to increase the speed of processing."
         

         
         

Finland

   Suomen verkkomaksut / checkout.fi
      
  • Multiple reports of declining buisness with bitcoin related services, including bittiraha.fi.
   
   Nordea
            
   Osuuspankki
      
   Tapiola
                  
   
Germany

   Commerzbank
      
  • Shut down bitcoin24 account.

   Fidor Bank AG
      
   Sofort Bank
      
  • "Proof was given to me in a private message I will not publish, unless it's sender gives me the go ahead, my source tells me anyone can verify this by contacting the bank about opening an account for a bitcoin related buisness, perhaps someone fluent in german could do this?"
          
Holland
   RaboBank
      
Spain

   ING
      
  • ING Spanish Branch Blocking all Bitcoin Transactions. Reddit.
      
      
Sweden
   
   SEP
         
Switzerland
      
      Coop Bank
               
United Kingdom

   Barclays
      
  • Prevented MtGox, Intersango, and BlockChain.info from accepting GBP.
      

United States

   Bank of the West (Link)
         Capital One (Link)
      
   Chase (Link)
      
  • Many people on this forum (as well as others), myself included, have had their accounts closed by chase. Some did mention bitcoins, others didn't. It's usually the high volume of cash deposits or one-way international wires (i.e. if you receive alot of US deposits but send alot of foreign wires).

   Comerica (Comerica)
      
   Dwolla (Dwolla)
      
   Internet Credit Union (Link)
   
  • Located in Sanfrancisco, California, USA. Opened in 2013
  • "taking a proactive pro-Bitcoin stance" Link to Reddit[/ur]
  • Spoke at San Jose Bitcoin Conference in 2013, saying that the current banks, "suck, so we are going to build out own." (Citation needed fo rthe video of this)
  • Handled withdraws for BitFloor after Capitol One had shut down their account just sending a single check to Roman (site owner of BitFloor).
  • Regulators start to spook IAFCU, they cancel pending deal with TradeHill after TradeHill already announced that accounts were be moved over from TradeHills unregulated system to IAFCU Government insured and regulated account.
  • Blog Post from IAFCU, "Rocky Road is still one of my favorite flavors" discussing how they are suspending business with Corporate Bitcoin Clients. IAFCU Blog Link.

   US Bank (Link)
         Wells Fargo
Documentation Needed.


Unknown Country

   MetroBank
      
  • Closed Intersango Account.
   
Global   

   PayPal (Website)
      
   OkPay ( Website )
   
   WorldFirst FX
      
  • Denies any bitcoin related business's application for an account.
      

   
Originally maintained by Isokivi @ https://bitcointalk.org/index.php?topic=189917.0



   
      
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July 30, 2013, 10:02:51 AM
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Thank you for taking over maintaining the thread.

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July 30, 2013, 10:39:29 AM
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Keeping an interest in this thread  Wink

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July 30, 2013, 10:47:04 AM
 #4

Incase there is any interest in the origiona thread, here is a paste of the OP.

[edit]Looking for someone to take over the maintenance of this thread or to start a new one.

To qualify on the list a bank or payment processor must without explanation terminate or refuse business of legitimate bitcoin busineses. The point of this threas is to name and shame said institutions and to encourage people who are there customers, regardless of bitcoin, to take there business elsewhere.

ATM This is by a long shot not a comprehensive list, your contributions are required. For starters it would be beneficial if someone could sum up the UK bank situation I am not up to date. Also I would like to know if AML and KYC requirements have been met by the services in question, if not then the entry does not belong on the list imo, discuss.

Bank / payment processor name      Country                            Proof                                                                         AML/KYC status

The Royal Bank of Canada                   Canada                    http://www.salon.com/2013/04/26/canada_tightens_restrictions_on_bitcoin_trading_partner/. https://www.libertybit.com/news
TDBank                                            Canada                    http://www.salon.com/2013/04/26/canada_tightens_restrictions_on_bitcoin_trading_partner/
Suomen verkkomaksut / checkout.fi      Finland                     Multiple reports of declining buisness with bitcoin related services, including bittiraha.fi.
Commerzbank                                   Germany                   Shut down bitcoin24 account
Capital One                                          ?                         Shut down bitfloor account
Metro Bank                                          ?                         Shut down intersango account
Barclays                                          UK                           Prevented MtGox, Intersango and Blockchain.info from accepting GBP.
Banco do Brasil                                 Brasil                       Shut down mercado bitcoin account
Ukash                                                                           http://www.reddit.com/r/Bitcoin/comments/1dbyo0/ukash_declines_merchant_application_for_bitcoin/
Royal Bank of Canada                        Canada                    https://www.coinforum.ca/discussion/57/canadian-bitcoins-and-cadbitcoin-have-accounts-frozen
Toronto-Dominion Bank                       Canada                   https://www.coinforum.ca/discussion/57/canadian-bitcoins-and-cadbitcoin-have-accounts-frozen
Bank of Nova Scotia                           Canada                   https://www.cavirtex.com/news , another user confirms he's account being closed too (in this thread, page 3).
Comercia                                             ?                        http://www.wired.com/wiredenterprise/2013/07/iafcu
Unconfirmed reports:
Paypal                                            Global                      https://bitcointalk.org/index.php?topic=202431.msg2114217#msg2114217

Bank name                                     Country     
Sofort Bank                                      Germany                  Proof was given to me in a private message I will not publish, unless it's sender gives me the go ahead, my source tells me anyone can verify this                                                                                                                by contacting the bank about opening an account for a bitcoin related buisness, perhaps someone fluent in german could do this ?
Uncategorized
Dwolla                                              US                       http://arstechnica.com/tech-policy/2013/05/feds-seize-money-from-top-bitcoin-exchange-mt-gox/ http://bitcoin.stackexchange.com/questions/10924/why-cant-dwolla-send-to-mt-gox                                                    It would appear that Dwolla is in no way hostile, but I felt it should be included on this list while the situation persists.
                       


Bitcoin friendly banks:
Bank name                                       Country               Relevant information
SEB                                                  Sweden                Swedish article, use google translate.
Nordea                                              Finland                 Conducts business with bittiraha.fi
Osuuspankki                                       Finland                 Conducts business with bittiraha.fi
Tapiola                                              Finland                 Conducts business with bittiraha.fi
Bank of Montreal                                 Canada                 Working with CaVirtex
Internet Credit Union                            ?                         "taking a proactive pro-Bitcoin stance" http://www.reddit.com/r/Bitcoin/comments/1g2r6q/audenx_is_a_badass/cagg431
TD Bank                                              US                     https://bitcointalk.org/index.php?topic=189917.msg2794888#msg2794888
Fidor Bank AG                                     Germany               http://www.newswire.ca/en/story/1197313/bitcoin-de-and-fidor-bank-ag-agree-on-large-scale-partnership

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July 30, 2013, 11:09:51 AM
 #5

Okay I have finished updating OP. If you have anything to add, please PM me or post it in a reply here.
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July 30, 2013, 11:38:41 AM
 #6

Added more info on paypal to OP


Saw this on reddit:
http://www.reddit.com/r/Bitcoin/comments/1g23w2/paypal_email_to_employees_policy_regarding_bitcoin/

Quote
From a friend in Paypal, got this in an email today:
Clarification on Bitcoin merchants using PayPal 6/10/2013 8:58 AM (-05:00) Impacted market: EMEA
We’ve received a number of escalations regarding Bitcoin merchants using PayPal. Any merchant seeking to sell or buy Bitcoins with PayPal is operating as a financial exchange. Please be aware that Financial Exchange merchants are prohibited unless pre-approved by PayPal. This process involves getting VP approvals from both Risk and Compliance, and only licensed financial institutions are considered.
Merchant contacts
If we receive contacts on Bitcoin sales, instead of escalating further, kindly advise customers that they need to be licensed financial institutions to be considered for approval. However, there are some acceptable cases, as outlined below.
Acceptable Bitcoin business models for PayPal
Merchants with a business model that is related to Bitcoin but does not sell Bitcoins may be acceptable. For example: Merchants offering Bitcoin education packages Merchants selling computer hardware designed specifically for mining Bitcoins. In this case, kindly ensure that the merchant isn’t pre-selling and actually has the equipment ready to deliver.
Please note – All Bitcoin-related e-commerce should be considered high risk.

Any thoughts?
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July 30, 2013, 02:31:01 PM
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TD Bank                                              US                    https://bitcointalk.org/index.php?topic=189917.msg2794888#msg2794888
   
      

While I appreciate that I am cited as a source, I think that TD US should be put in an "unconfirmed" section or something along those lines. For one, my friends use TD. I do not, and thus don't know the full extent of their friendliness. They haven't had any issues, but I don't think that this qualifies as "Bitcoin friendly". Maybe someone could contact a representative and confirm that they are either supportive or at the very least neutral? If TD Canada is hostile then I doubt that they are truly friendly. There probably just isn't an official company stance either way.

I myself use Citizens Bank. I have done a few wires and even some debit charges (through Skrill) and initially I had some issues. I buy bitcoins pretty much every day, and only about every 3 out of 4 transfers would make it through without being rejected. This was very frustrating, so I called customer support each and every time it got rejected. The very first call had the representative saying that Citizen's "does not associate with these kinds of businesses" although I don't know whether they were referring to Skrill or any of the exchanges. The next two calls went the same way, although Citizens did not prevent me from using my bank account on any of the sites. Finally, on the fourth time it got rejected I got pissed, as the time before I had specifically requested that any bitcoin related money transfer go through. After arguing with the rep, I finally requested to talk to the fraud department directly. They were much more reasonable and explained that the customer service rep probably didn't know what she was talking about (lol) and that the reason that most of the transfers were rejected was because the recipient banks were foreign, and the constant purchases every day looked suspicious. They explained that Citizen's does not "associate" (not sure what exactly they mean by this) with these kinds of businesses but that they would not reject any more transfers or flag them as suspicious.

From this, it would appear that Citizen's is "friendly", but it seems more likely that they just don't care either way.
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July 30, 2013, 07:15:12 PM
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Added to dwolla section:

Central bankers & pussies, iow, yes they do make a difference to what companies will risk doing regardless or not of any present guidelines/rules or legislation is apparent:



I hope this brings the debate in to the light in Thailand & sets some precedents for P2P use of virtual currencies in a good way, there are certainly many Thais who are not so enamored by the present gov.
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August 01, 2013, 03:36:41 AM
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TD Bank                                              US                    https://bitcointalk.org/index.php?topic=189917.msg2794888#msg2794888
   
      

While I appreciate that I am cited as a source, I think that TD US should be put in an "unconfirmed" section or something along those lines. For one, my friends use TD. I do not, and thus don't know the full extent of their friendliness. They haven't had any issues, but I don't think that this qualifies as "Bitcoin friendly". Maybe someone could contact a representative and confirm that they are either supportive or at the very least neutral? If TD Canada is hostile then I doubt that they are truly friendly. There probably just isn't an official company stance either way.

I myself use Citizens Bank. I have done a few wires and even some debit charges (through Skrill) and initially I had some issues. I buy bitcoins pretty much every day, and only about every 3 out of 4 transfers would make it through without being rejected. This was very frustrating, so I called customer support each and every time it got rejected. The very first call had the representative saying that Citizen's "does not associate with these kinds of businesses" although I don't know whether they were referring to Skrill or any of the exchanges. The next two calls went the same way, although Citizens did not prevent me from using my bank account on any of the sites. Finally, on the fourth time it got rejected I got pissed, as the time before I had specifically requested that any bitcoin related money transfer go through. After arguing with the rep, I finally requested to talk to the fraud department directly. They were much more reasonable and explained that the customer service rep probably didn't know what she was talking about (lol) and that the reason that most of the transfers were rejected was because the recipient banks were foreign, and the constant purchases every day looked suspicious. They explained that Citizen's does not "associate" (not sure what exactly they mean by this) with these kinds of businesses but that they would not reject any more transfers or flag them as suspicious.

From this, it would appear that Citizen's is "friendly", but it seems more likely that they just don't care either way.

I had already quoted your post from the original thread and was going to politely ask if that was indeed the only reference to TD's friendliness, and then I read your above post lol. Beat me to it.

I wonder if credit unions would be a better starting place for us to find BTC-friendly $ institutions? They are all non-profit...

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August 01, 2013, 07:16:23 AM
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IAFCU is Based in the USA
New Brunswick, NJ

USbank and Wellsfargo need to be added to unfriendly banks

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August 01, 2013, 07:40:07 AM
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For the record TD Bank Canada and TD bank USA are the same company just a different division that TD created when they entered into the US market during the recession and bought out some banks as part of their expansion plans.

http://en.wikipedia.org/wiki/Toronto-Dominion_Bank
You might want to label it TD Bank N.A
TD Bank, N.A. — merged entity of Commerce Bank or Commerce Bancorp, TD Banknorth and TD Bank USA on June 1, 2008
http://en.wikipedia.org/wiki/TD_Bank,_N.A.

Going back through old post weird it does not work as a wiki link but it is in the search and works if clicked on
http://en.wikipedia.org/wiki/Special:Search/TD_Bank,_N.A

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August 01, 2013, 11:05:07 AM
 #12

IAFCU is Based in the USA
New Brunswick, NJ

USbank and Wellsfargo need to be added to unfriendly banks


Okay, Added.


Also added Bank of the West to the bad banks list per https://bitcointalk.org/index.php?topic=259152.0


For the record TD Bank Canada and TD bank USA are the same company just a different division that TD created when they entered into the US market during the recession and bought out some banks as part of their expansion plans.

http://en.wikipedia.org/wiki/Toronto-Dominion_Bank
You might want to label it TD Bank N.A
TD Bank, N.A. — merged entity of Commerce Bank or Commerce Bancorp, TD Banknorth and TD Bank USA on June 1, 2008
http://en.wikipedia.org/wiki/TD_Bank,_N.A.


Ive removed TD bank as there wasn't much confirmation on that one.
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August 02, 2013, 01:06:40 AM
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For the record TD Bank Canada and TD bank USA are the same company just a different division that TD created when they entered into the US market during the recession and bought out some banks as part of their expansion plans.

http://en.wikipedia.org/wiki/Toronto-Dominion_Bank
You might want to label it TD Bank N.A
TD Bank, N.A. — merged entity of Commerce Bank or Commerce Bancorp, TD Banknorth and TD Bank USA on June 1, 2008
http://en.wikipedia.org/wiki/TD_Bank,_N.A.


Ive removed TD bank as there wasn't much confirmation on that one.


Fair enough for the record James at Canadianbitcoins had cash deposit with CIBC BMO Royal Bank and TD Dominion at one Time but each one closed their accounts pertaining to KYC/AML procedures. However they all allow for online banking to be connected to them with verification.

Anti money laundering and Know Your Client are the issues.

Pretty much the only ones I'm not sure of the Status is National Bank and Credit Unions such as Servus Credit Union / or provincial banks like ATB  Financial (Alberta Treasury Banks), based on your confirmation data from Scotiabank (Bank of Nova Scotia) guess they are all non-friendly.

https://www.canadianbitcoins.com/messages.php

Jun 21 2013   Cash deposit at BMO and CIBC are disabled until further notice. Please get verified and use Bill Payment

Feb 21 2013   Effective Feb 22 at 5PM, we will no longer be accepting TD Cash at Branch Deposits, or TD Payee payments to BUY or SELL Bitcoins.

Feb 21 2013   Effective Feb 22 at 5PM, we will no longer be accepting TD Cash at Branch Deposits, or TD Payee payments to BUY Bitcoins. We will continue allowing TD Payee payments to SELL Bitcoins until 5PM Tuesday Feb 26th, at which time no TD Bank payments will be available.

PS: Here is an additional link for the Royal Bank of Canada
http://www.calgaryherald.com/technology/Calgary+bitcoin+exchange+fighting+bank+backlash+Canada/8306709/story.html


I'm aware that canadianbitcoins and cavirtex are always on top of regulations that's why I trust these exhanges, so if your not allowed to disclose information at this time that's fine.

My question is regarding Canadianbitcoins
Can you explain the reason canadianbitcoins has temporarily disabled cash deposit and if this is related to mtgox and TAYPE
Also will this be a similar update to the one on cavirtex
Thanks

To be honest was thinking of posting this question in Canadianbitcoins but it would be a 2 year necro  
Was not sure on whether to revive it or ask here maybe next time to show how far bitcoin has gone Wink

As a side-comment
"I've been involved with Bitcoins since the CPU mining days, and double digit difficulty (man, when it jumped to 43, that was rough!)"
Love that post  
Two year anniversary to a hangover incoming  Wink
https://bitcointalk.org/index.php?topic=27087.msg341290#msg341290

Lol i just went back and read that thread, so nostalgic.  Bitcoin has come a long way since then.

We have disabled cash deposits due to potential issues that we are working out with the banks.  I'm assuming its pretty much the same issue as with cavirtex -- banks dont like anonymous cash deposits from third parties into accounts... even if we have KYC docs for all them, the banks dont know that (because they dont ask, they just assume that we dont for some reason)  

It is NOT related at all to whats going on with mtgox (that i know of at least)

We are working with TAYPE closely and with the BANKS to find the right solutions that keeps everyone happy. For the most part, it comes down to AML/KYC.

Almost time for another Canada Day aimlessly tackling the crowds around Parliament hill spreading the rambling drunk truth about bitcoins!

Cheers
 James




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August 02, 2013, 08:41:12 AM
 #14



For the record TD Bank Canada and TD bank USA are the same company just a different division that TD created when they entered into the US market during the recession and bought out some banks as part of their expansion plans.

http://en.wikipedia.org/wiki/Toronto-Dominion_Bank
You might want to label it TD Bank N.A
TD Bank, N.A. — merged entity of Commerce Bank or Commerce Bancorp, TD Banknorth and TD Bank USA on June 1, 2008
http://en.wikipedia.org/wiki/TD_Bank,_N.A.


Ive removed TD bank as there wasn't much confirmation on that one.


Fair enough for the record James at Canadianbitcoins had cash deposit with CIBC BMO Royal Bank and TD Dominion at one Time but each one closed their accounts pertaining to KYC/AML procedures. However they all allow for online banking to be connected to them with verification.

Anti money laundering and Know Your Client are the issues.

Pretty much the only ones I'm not sure of the Status is National Bank and Credit Unions such as Servus Credit Union / or provincial banks like ATB  Financial (Alberta Treasury Banks), based on your confirmation data from Scotiabank (Bank of Nova Scotia) guess they are all non-friendly.

https://www.canadianbitcoins.com/messages.php

Jun 21 2013   Cash deposit at BMO and CIBC are disabled until further notice. Please get verified and use Bill Payment

Feb 21 2013   Effective Feb 22 at 5PM, we will no longer be accepting TD Cash at Branch Deposits, or TD Payee payments to BUY or SELL Bitcoins.

Feb 21 2013   Effective Feb 22 at 5PM, we will no longer be accepting TD Cash at Branch Deposits, or TD Payee payments to BUY Bitcoins. We will continue allowing TD Payee payments to SELL Bitcoins until 5PM Tuesday Feb 26th, at which time no TD Bank payments will be available.

PS: Here is an additional link for the Royal Bank of Canada
http://www.calgaryherald.com/technology/Calgary+bitcoin+exchange+fighting+bank+backlash+Canada/8306709/story.html


I'm aware that canadianbitcoins and cavirtex are always on top of regulations that's why I trust these exhanges, so if your not allowed to disclose information at this time that's fine.

My question is regarding Canadianbitcoins
Can you explain the reason canadianbitcoins has temporarily disabled cash deposit and if this is related to mtgox and TAYPE
Also will this be a similar update to the one on cavirtex
Thanks

To be honest was thinking of posting this question in Canadianbitcoins but it would be a 2 year necro 
Was not sure on whether to revive it or ask here maybe next time to show how far bitcoin has gone Wink

As a side-comment
"I've been involved with Bitcoins since the CPU mining days, and double digit difficulty (man, when it jumped to 43, that was rough!)"
Love that post 
Two year anniversary to a hangover incoming  Wink
https://bitcointalk.org/index.php?topic=27087.msg341290#msg341290

Lol i just went back and read that thread, so nostalgic.  Bitcoin has come a long way since then.

We have disabled cash deposits due to potential issues that we are working out with the banks.  I'm assuming its pretty much the same issue as with cavirtex -- banks dont like anonymous cash deposits from third parties into accounts... even if we have KYC docs for all them, the banks dont know that (because they dont ask, they just assume that we dont for some reason) 

It is NOT related at all to whats going on with mtgox (that i know of at least)

We are working with TAYPE closely and with the BANKS to find the right solutions that keeps everyone happy. For the most part, it comes down to AML/KYC.

Almost time for another Canada Day aimlessly tackling the crowds around Parliament hill spreading the rambling drunk truth about bitcoins!

Cheers
 James





Okay I'm adding all this in now.

Can you clarify what you mean by, "However they all allow for online banking to be connected to them with verification."

So if the people making the cash dpeosits were to submit their verification info online to Canadabitcoins and then canadabitcoins submits that to the bank then its no issue?

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August 02, 2013, 08:48:50 AM
 #15

Okay I think I've added everything that has been contributed so far. If I've missed something, or anything else needs to be removed because it is incorrect, please let me know.

Thanks again for all the contributions!
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August 02, 2013, 09:12:33 AM
 #16

Okay I'm adding all this in now.

Can you clarify what you mean by, "However they all allow for online banking to be connected to them with verification."

So if the people making the cash dpeosits were to submit their verification info online to Canadabitcoins and then canadabitcoins submits that to the bank then its no issue?

Verification
To get verified for bill payments
Your TAYPE INTERNATIONAL account number is: xxxxxxxxxxxx (for CIBC/BMO/RBC/HSBC/Desjardin/Credit Unions)
Your DIRECT FUND SOLUTIONS account number is: xxxxxxxxxxxx (for TD Canada Trust)
Your DIRECT WORLD (DIRECT WORLD CONVENIENCE CARD) account number is: xxxxxxxxxxxxxxx (for ScotiaBank)

May 1 2013   Direct Deposit to any Canadian Bank is now available to SELL bitcoins for VERIFIED ACCOUNTS ONLY
Some API images
http://postimg.org/image/arwnoe385/a1dee4d3/
http://postimg.org/image/fl4gnia7h/69825cb6/
http://postimg.org/image/mk716qg7l/7ccc743a/

Hope that helped the Canada data out a bit

I guess banks do accept bitcoin orders but they added a 1-3 day delay if you consider the fact that a month ago you could walk into a RBC or CIBC  ask the teller to send money to this account and have your bitcoins within 24 hours Smiley

Jun 19 2013   Clarification on Bill Payments - There is NO RATE GUARANTEE. Banks take anywhere from 1-3 business days to process bill payments, so orders may be adjusted to the current rate at the time of receipt of payment from the bank.

Yes that is the case but if you want to confirm just ask James he runs Canadianbitcoins and will reply to your posts in the Havelock thread pretty much as long as you don't raise red flags by doing 10k transactions in and out you should be ok ^_^

Old Transaction

Thank you for placing your order to BUY Bitcoins from Canadian Bitcoins.

Please note, the CENTS have been adjusted. You must deposit this exact amount
or we will not be able to identify your order!

Transaction ID: xxxxxxxxxxxxxxxxxxxx406197f4406219283
Bitcoin Deposit Address: xxxxxxxxxxxxxxxXxxxxxxxxxxxxxxxXxx
Buy Amount: $xxx.xx CAD
Buy Rate: $xx.xx CAD/BTC
Total: x.xxxx BTC

Go to any CIBC Branch with cash in hand, and tell them you would like to
deposit into the following account:

Branch: 00986
Account: 3319512
Account Holder: 8159181 CANADA INC.
Deposit Amount: $xxx.xx CAD

Once the payment is credited to our account your order will be added to the processing queue.

FAQ: When will I receive my Bitcoins?
If its during core business hours (Mon-Fri, 10-4 EST), you should expect your coins by the end of the day. If it is outside those hours, you should expect your coins by the end of the next full business day. Yes, you might get them a lot sooner, but please don't call us in a panic if 'last time it only took 1 hour, and now its been 3 hours!'. Please wait until the end of the next business day before contacting us for 'missing bitcoins'

Thank you for choosing Canadian Bitcoins!
http://www.canadianbitcoins.com

Then after you went to the bank and executed your order you got this

Thank you for using Canadian Bitcoins to buy your Bitcoins!

Transaction ID: xxxxxxxxxxxxxxxxxxxx406197f4406219283
Bitcoin Amount: x.xxxxxxxx
CAD Amount: $xxx.xx
Rate: $xx.xx CAD/BTC
Bitcoin Wallet Address: xxxxxxxxxxxxxxxXxxxxxxxxxxxxxxxXxx

Your Bitcoins have been sent to the wallet address above
which may take up to an hour to appear in your wallet. Please
ensure your client is up-to-date with the latest blocks in
order to see the incoming transaction.

You can verify the bitcoins have been sent by checking the
following block chain link:

http://blockchain.info/address/xxxxxxxxxxxxxxxXxxxxxxxxxxxxxxxXxx

Below is a copy of your complete transaction log for your reference
2013-06-10 xx:xx:xx    created    Transaction Created
2013-06-10 xx:xx:xx    completed    Transaction Completed


Thanks again, for choosing Canadian Bitcoins!
http://www.canadianbitcoins.com

Simply put more of a PITA now Smiley

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August 08, 2013, 01:33:34 AM
 #17

You can add Popmoney to the the list they shutdown payments to LiteTree Exchange.
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August 08, 2013, 01:59:21 AM
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You can add Popmoney to the the list they shutdown payments to LiteTree Exchange.
Source link please Smiley

On a sidenote
Canadianbitcoins
Aug 6 2013   TAYPE INTERNATIONAL has been temporarily replaced with DIRECT WORLD for all Bill Payment Banks. Please do not send any payments to your TAYPE payee if you already have one setup in your online banking.Aug 6 2013
Cavirtex
Aug. 6, 2013, 3:11 p.m. - New Bill Payment Provider - Vogogo
For rapid and secure processing of your online bill payments, we have partnered with Vogogo. One of the main reasons for this is to increase the speed of processing.

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August 08, 2013, 03:36:37 AM
 #19

Does anyone know if SEB or Nordea do business with Bitpay? I can easily open an account in either one of these banks and would like to link my BitPay account to it.

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August 09, 2013, 02:40:25 PM
 #20

As we noted in another thread, we are in the process of opening a physical Bitcoin acquiring / redemption centre.  You will be able to walk in and sell your coins for cash or trade them for precious metals.  Alternatively, you can purchase or trade for Bitcoins.   We are doing this because we believe that no system that relies upon traditional banking is sustainable.  
Having started many online banking companies in the late 90's and early 00's that focused on mass payments in the online gaming field, we quickly learned that banks are not your friends when it comes to quasi-banking services.  Once you became too successful, it was game over.  At one point in 2003 we were clearing 1,000 checks daily through an HSBC branch.  After a couple of months and several bank audits, we received the dreaded "We are sorry to inform you" letter.  The same occurred at all of the major Canadian banks, credit unions and trusts. That was more than 8 years ago when banks were not as sophisticated as they are today to monitor irregular activity.
As for US banks, forget about them.  Just try receiving wire or cash deposit payments into your account from multiple sources.  We had over 5000 individuals holding deposit slips to our accounts at Chase and BofA.  Individuals would walk into a branch with a completed deposit slip and make a deposit.  Within weeks all accounts were shut down.  Especially personal accounts which receive several deposits (3 or more) from unrelated sources are flagged for audit.  The primary goal of the bank is to avoid personal accounts being operated as business accounts.
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