Buying bitcoins at Chase or Wells Fargo

[RodeoX]

Is this big news?

http://anteyekon4myst.visibli.com/share/DlRPpP

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[Serge]

Chase and WF won't like that article's title at all me thinks.

Not sure how banks will respond to this method of utilizing their deposit service, especially given the publicity connecting them with Bitcoin world.

[Phinnaeus Gage]

Is this big news?

http://anteyekon4myst.visibli.com/share/DlRPpP

I'm curious on how true this is. Is there any more information available? Perhaps a phone call to those Chase and Wells Fargo branches?

[Bitcoin Swami]

Is this big news?

http://anteyekon4myst.visibli.com/share/DlRPpP

I'm curious on how true this is. Is there any more information available? Perhaps a phone call to those Chase and Wells Fargo branches?

Its very true, I'm sure the branches don't know anything about it. As far as they know you're just depositing money into someone's account.

[ahbritto]

Here is another article:
http://tradewithdave.com/?p=7764

Also see the annoucement thread:
https://bitcointalk.org/index.php?topic=36602.0

This deposit method is working great for us.  Feel free to give it a try: buy a bitcoin or two!


-Arthur

[Serge]

This deposit method is working great for us.  Feel free to give it a try: buy a bitcoin or two!


-Arthur

Hi Arthur
Are your banks aware what kind of service/business you are running and allowing people from all over US deposit funds to you that way? I know it's very convenient and sometimes I have my clients make payments to me this way once in a blue moon, but nothing on such a national level.  My only concern is that once they find out from news media about being associated with Bitcoin in such a way they may cut you off (?) - I don't know if they can legally or if you can safely utilize deposits that way.  Remember in 90s most banks allowed second endorsement on checks, now - not any more.

[weex]

Hi Serge,

Thank you for your concerns.

We are doing everything we can to ensure it remains mutually beneficial for ExchB and any bank that we would partner with.

As you mention, these are very large operations that are well-equipped to help any business that wants to use their services to collect funds. If you need to collect cash you can use their tellers. If you need to receive lots of checks they provide check scanners and PO Boxes....all for a fee.

Time will tell if something comes up that changes what we can do in respect to instant cash deposit, but until then we encourage anyone who wishes to, to give it a try. How else can a large number of people buy Bitcoin the same day?

Thank you,

David (weex)

[TTBit]

Hi Serge,

Thank you for your concerns.

We are doing everything we can to ensure it remains mutually beneficial for ExchB and any bank that we would partner with.

As you mention, these are very large operations that are well-equipped to help any business that wants to use their services to collect funds. If you need to collect cash you can use their tellers. If you need to receive lots of checks they provide check scanners and PO Boxes....all for a fee.

Time will tell if something comes up that changes what we can do in respect to instant cash deposit, but until then we encourage anyone who wishes to, to give it a try. How else can a large number of people buy Bitcoin the same day?

Thank you,

David (weex)

Best of luck with your business.

I am saddened that there is a general sense of criminal activity going on when people want to spend their dollars the way they want to, including buying bitcoins.

[marcus_of_augustus]

Hi Serge,

Thank you for your concerns.

We are doing everything we can to ensure it remains mutually beneficial for ExchB and any bank that we would partner with.

As you mention, these are very large operations that are well-equipped to help any business that wants to use their services to collect funds. If you need to collect cash you can use their tellers. If you need to receive lots of checks they provide check scanners and PO Boxes....all for a fee.

Time will tell if something comes up that changes what we can do in respect to instant cash deposit, but until then we encourage anyone who wishes to, to give it a try. How else can a large number of people buy Bitcoin the same day?

Thank you,

David (weex)

Best of luck with your business.

I am saddened that there is a general sense of criminal activity going on when people want to spend their dollars the way they want to, including buying bitcoins.

It is very sad. With the advent of digital money, the banks have handed an opportunity for dramatic expansion of a police state to the politicians who have shown no restraint whatsoever to assume the worst of the citizenry (guilty until proven innocent) and enacted the obnoxious KYC and attendant laws for wholesale invasions of financial privacy. In this respect, digital fiat money as we know it is deficient as money since it it then becomes less fungible than physical cash.

[GeniuSxBoY]

Yeh.... you should deeeefinitely make frequent withdrawals juuuuust in case they decide to lock your account.

[BitcoinPorn]

Yeh.... you should deeeefinitely make frequent withdrawals juuuuust in case they decide to lock your account.

Off shore account, off shore account!

I'm guessing this is already done.  It's not just for the movies kids, if you live in America, you should have a non-American account.  Make sure to review heavily which island and bank you pick

[Serge]

Hi Serge,

Thank you for your concerns.

We are doing everything we can to ensure it remains mutually beneficial for ExchB and any bank that we would partner with.

As you mention, these are very large operations that are well-equipped to help any business that wants to use their services to collect funds. If you need to collect cash you can use their tellers. If you need to receive lots of checks they provide check scanners and PO Boxes....all for a fee.

Time will tell if something comes up that changes what we can do in respect to instant cash deposit, but until then we encourage anyone who wishes to, to give it a try. How else can a large number of people buy Bitcoin the same day?

Thank you,

David (weex)

Best of luck with your business.

I am saddened that there is a general sense of criminal activity going on when people want to spend their dollars the way they want to, including buying bitcoins.

It is sad but more over worrisome. 
If other exchanges begin to employ same remote deposits and it will gain so much attention, what could happen next?