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Author Topic: Alternative to dwolla  (Read 1083 times)
aam123
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September 06, 2011, 05:58:47 PM
 #1

I'm looking to start buying bitcoins but I hear that the website dwolla has major delays to put the money into your mt.gox. So I was wondering what an alternative was and I would love some instructions on how to use this other website, I have a bank account with city bank and wanted to know if I could transfer money from right there
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N.Olmos
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September 06, 2011, 06:08:49 PM
 #2

Hi aam123,

Try this:
Cash deposits can be made at any of over 15,000 Chase or Wells Fargo branches.
https://www.exchangebitcoins.com/help

n.olmos

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aam123
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September 06, 2011, 07:04:48 PM
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even if i dont have a chase account?
N.Olmos
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September 06, 2011, 09:44:52 PM
 #4

Hi aam123,

You do not need a Chase or Wells Fargo account. You make a cash deposit into the ExchangeBitcoins.com checking account.

This is what I use and it works very well.

1 - Open a free account at ExchangeBitcoins.com
2 - Make a Cash Deposit Order on their site. Tell them how much I want to deposit and they will give you their bank account information. You should print out a copy to take with you to the bank.
3 - Go to nearest Chase or Wells Fargo bank and complete a cash deposit slip with ExchangeBitcoins.com address and bank account information.
4 - Give the cash to the teller. You do not need anything else. Make sure you get a receipt for the cash deposit.
5 - Copy or photograph the deposit receipt and email it to ExchangeBitcoins.com with the information they gave you from step #2.
6 - Your cash should be in your account in about one hour or less. (my experience).
7 - Buy bitcoins. (if you prefer Mt.Gox you may send your bitcoins to them later)

Hit: I think they want you to deposit an odd dollar amount to make it easier to distinguish deposits. (ie deposit 498.64 instead of 500.00)

From their webiste:
Deposit Cash at a Local Bank Branch
Cash deposits can be made at any of over 15,000 Chase or Wells Fargo branches. You can deposit from $5 to $2,000 per day. There is a deposit fee of the higher of $1 or 1% of your deposit.

Cash deposits work as follows: Fill out the form below to make a no-commitment deposit reservation, you will have 2 business days before the reservation expires to make your deposit. The reservation will present you with step-by-step instructions: fill out a deposit slip, present the deposit slip and your cash to a teller, and send us an e-mail including an image of your receipt to confirm your deposit. Your cash deposit clears when we verify your e-mail.

Please do not use any account-to-account transfer feature that your bank may offer. This process is exclusively for cash that is physically deposited with a teller.

Bank:      
Amount:   




You have an active deposit reservation: Cancel

1. Print these instructions and take them with you.
2. At the bank, fill out a deposit slip as follows:
Account name: Exchange Bitcoins Inc.
Account address: 805 Veterans Blvd Suite 200, Redwood City, CA 94063-1736
Type: Checking
Wells Fargo Account Number: XXXXXXXXXX

Amount: $XXXXX.XX (You MUST deposit EXACTLY this amount to be credited).
3. Make your deposit by presenting the deposit slip and cash to a teller. Don't forget any change you are due.
4. Obtain a receipt.
5. Verify the amount on the receipt is EXACTLY: $XXXXX.XX
6. Send an e-mail to deposits@exchb.com with this statement:

Dear ExchB,

I have made a cash deposit in the amount of $XXXX.XX at Wells Fargo for account XXXXXXXXXX.

YOUR NAME

7. Cash deposits clear on receipt of your e-mail.

   

XXXXX = is my information.

n.olmos


Edit:
Update: Looks like Chase is out and Bank of America is in.

"Deposit Cash at a Local Bank Branch
Cash deposits can be made at any of thousands of Bank of America or Wells Fargo branches. You can deposit from $5 to $2,000 per day. There is a deposit fee of the higher of $1 or 1% of your deposit.

Please note we have replaced Chase with Bank of America for cash deposits as of Sept. 7th, 2011.

Cash deposits work as follows: Fill out the form below to make a no-commitment deposit reservation, you will have 2 business days before the reservation expires to make your deposit. The reservation will present you with step-by-step instructions: fill out a deposit slip, present the deposit slip and your cash to a teller, and send us an e-mail including an image of your receipt to confirm your deposit. Your cash deposit clears when we verify your e-mail.

Please do not use any account-to-account transfer feature that your bank may offer. This process is exclusively for cash that is physically deposited with a teller."

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Cato
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September 07, 2011, 05:49:32 AM
 #5

If I recall correctly, some exchanges might accept WebMoney. I don't recall which ones though, so you'll have to look.

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infiniblank
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September 07, 2011, 10:09:57 AM
 #6

Dwolla is a very good service, it may be that mtgox is just being slow cause it's so busy.
johnb210
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September 07, 2011, 12:00:18 PM
 #7

Dwolla is a very good service, it may be that mtgox is just being slow cause it's so busy.

I dunno, I signed up for a Dwolla account on Saturday, and am still waiting on the Dwolla "confirmation payments" into my WellsFargo checking account so that I can then load money into Dwolla to even start.

I realize that it was a holiday weekend so I'm not being impatient, it's just funny because Dwolla keeps sending me daily emails telling me to "go check your bank account to confirm our confirmation payments!"  Huh

Thanks for the link to the WellsFargo direct deposit, I may try that instead.
NAGAjalokia
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September 07, 2011, 04:59:44 PM
 #8

buy second life linden dollars on virwox.com (sp?) and then exchange for BTC, probably the quickest route

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nefanon
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September 07, 2011, 07:19:10 PM
 #9

buy second life linden dollars on virwox.com (sp?) and then exchange for BTC, probably the quickest route

Dwolla is sooooooooooooooooooooooooo slow. I've used it about 3 times now and any transaction or transfer takes AT LEAST 3 days.

I was going to try Virwox but I didn't want to have to create a Second Life account  XD
bitcoinhead
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September 08, 2011, 01:20:51 AM
 #10

I guess dwolla is slow because they are using the ACH network to send the payments.  This can certainly take overnight (ie. 2 days).

BitcoinRedLight
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September 08, 2011, 12:55:35 PM
 #11

Dwolla had some significant accounting problems it suffered through, so I wouldn't expect them to be too concerned about time delays.

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nefanon
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September 09, 2011, 06:30:00 PM
 #12

Is www.Paxum.com any good?
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