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Author Topic: Oct.1st laws? No more withdrawing from prepaid card via ACH?  (Read 1557 times)
wildboy211
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August 31, 2011, 02:05:59 AM
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Normally if i wanted to buy some bitcoins i would load up my Walmart Moneycard at Walmart and then send it to Dwolla via ACH then to MtGox. I was checking my card and it said beginning Oct. 1st you cannot withdraw money from the card with ACH.
1. Anyone know about this?
2. Anyone know a way around this / alternative?
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Trader Steve
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August 31, 2011, 02:17:54 AM
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Buy from www.exchangebitcoins.com using their cash deposit at over 15,000 Chase and Wells Fargo branches. Better yet, create a local MeetUp group and cultivate a local trading network so you can do exchanges outside of the formal exchanges.
wildboy211
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August 31, 2011, 02:26:39 AM
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Buy from www.exchangebitcoins.com using their cash deposit at over 15,000 Chase and Wells Fargo branches. Better yet, create a local MeetUp group and cultivate a local trading network so you can do exchanges outside of the formal exchanges.


Signing up now...now anyone know about this law?
koin
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August 31, 2011, 07:14:24 PM
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now anyone know about this law?

is there a reason you believe it is related to some law?
wildboy211
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August 31, 2011, 11:56:58 PM
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now anyone know about this law?

is there a reason you believe it is related to some law?

Its said because of "new federal regulation starting Oct. 1st"...
WiseOldOwl
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September 01, 2011, 06:14:17 PM
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Our experience with WalMart Moneycard and greendot moneypaks has been pretty terrible.
These companies do not like bitcoin, or want to help it to say the least.

Avoid at all costs.


also try
https://bitcoinbux.com
we have a bunch of different ways to pay. we base off of mtgox prices though so its best to buy when they are favorable in comparison to the site mentioned above.


http://cryptoswap.com
XRP/BTC/LTC/BTE
wildboy211
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September 02, 2011, 03:08:05 AM
 #7

Our experience with WalMart Moneycard and greendot moneypaks has been pretty terrible.
These companies do not like bitcoin, or want to help it to say the least.

Avoid at all costs.


also try
https://bitcoinbux.com
we have a bunch of different ways to pay. we base off of mtgox prices though so its best to buy when they are favorable in comparison to the site mentioned above.



www.exchangebitcoins.com seems to have the easiest way with depositing - i have a chase bank 5 minutes from my house, this will probably be my new way of buying coin.
WiseOldOwl
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September 02, 2011, 03:10:33 PM
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Yes they have a chase account,
we have BofA
and
US Bank at the moment.


http://cryptoswap.com
XRP/BTC/LTC/BTE
koin
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September 02, 2011, 08:51:48 PM
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Its said because of "new federal regulation starting Oct. 1st"...

ha, well -- october 1st is when the durbin ammendment of the dodd-frank goes into effect so maybe there is some wording somewhere that would prohibit this.  that their prepaid card even had allowed withdrawal of funds via ach transactions is something that wasn't widely known.

more likely is that banks and financial entities don't like getting their debit card fees regulated by the feds and are blaming that action for every change that will be seen negatively by their customers.
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