Alternative for BTC cash in and cash out [USD bank account]

[pinoycash]

I tried this before last year 2018, Using PS Bank Peso account

Bittrex(USD) to PSBank(PHP) via international wire transfer at auto convert na to PHP once nag reflect sa passbook account.

Sa BPI pala 1 Day lang ang processing ng Wire transfer? Sa PSBank inabot ng 5 banking days bago pumasok sa passbook ko at araw araw ako napunta sa branch para itanong kung dumating na laging wala pa at nung ika 5th day lang dumating. yun daw ang normal processing ng international wire transfer

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[Ipwich]

I just received an email today, a reply of my application but it's not approve yet and it seems I have to apply again to attach the required documents.

Email received.

[pinoycash]

I just received an email today, a reply of my application but it's not approve yet and it seems I have to apply again to attach the required documents.

~snip~

Statement of Account ba nasubmit mo?

ako kasi passbook lang yung underpage with my name account number and address

tapos yung passbook page ng latest transaction in the past 30 days.

Kung ATM ang account request ka sa bank ng proof of deposit or bank statement in the past 30 days may bayad nga lang yun depende sa bank.

tapos wag Cellphone camera gamitin mo pagpicture, pa SCAN mo talga yung buong page.

[Ipwich]

I just received an email today, a reply of my application but it's not approve yet and it seems I have to apply again to attach the required documents.

~snip~

Statement of Account ba nasubmit mo?

ako kasi passbook lang yung underpage with my name account number and address

tapos yung passbook page ng latest transaction in the past 30 days.

Kung ATM ang account request ka sa bank ng proof of deposit or bank statement in the past 30 days may bayad nga lang yun depende sa bank.

tapos wag Cellphone camera gamitin mo pagpicture, pa SCAN mo talga yung buong page.

It's not a bank statement, it's just a passbook.
I am now requesting a bank statement from the bank so I can re apply again.
They need to see my name and address in the statement and my passbook does not show all the information.

Hopefully in the 2nd try it will be successful.



I'm getting ready in case BTC will pump this year. 

[Ipwich]

Just an update, I just submitted my bank statement and other requirement as a proof of residency, let's see if we will have the success this time.
Will update the status once I receive an email, most probably in less than 24 hours they will reply.

[ruthbabe]

tested 1324 USD withdrawal from bittrex

bpi account received 1307.5 USD

sa mga allergic sa fees na mga tao dyan, as long as mas mataas ang selling price at mas mababa ang buying price sa bittrex ay mas marami ka pa rin na makukuha USD cash(sell) or BTC (buy)
-snip-

Ayos to sir ah. Paano pag nagtanong yung bank kung saan galing ang sources nung transacation fund, allowed ba na galing sa crypto currency exchange? And magkano ang fees from bittrex to your bank account?

Sa bittrex din dati ako nagtitrade kayo nung nag simula sila ng KYC lumipat na ako sa Binace.  

Parehas pala tayo, tol... ganyan din ang aking ginawa at saka mas simpleng gamitin ang binance kumpara sa bittrex sa aking palagay iyan. Well, $16.93 na fee ay kalakihan na rin pero sa tingin ko ay ok na rin kung walang tsetse buretse. 

[Ipwich]

tested 1324 USD withdrawal from bittrex

bpi account received 1307.5 USD

sa mga allergic sa fees na mga tao dyan, as long as mas mataas ang selling price at mas mababa ang buying price sa bittrex ay mas marami ka pa rin na makukuha USD cash(sell) or BTC (buy)
-snip-

Ayos to sir ah. Paano pag nagtanong yung bank kung saan galing ang sources nung transacation fund, allowed ba na galing sa crypto currency exchange? And magkano ang fees from bittrex to your bank account?

Sa bittrex din dati ako nagtitrade kayo nung nag simula sila ng KYC lumipat na ako sa Binace.  

Parehas pala tayo, tol... ganyan din ang aking ginawa at saka mas simpleng gamitin ang binance kumpara sa bittrex sa aking palagay iyan. Well, $16.93 na fee ay kalakihan na rin pero sa tingin ko ay ok na rin kung walang tsetse buretse. 

You don't need to do this if you are not earning enough money.
5% less versus the current exchange rate is nothing if you are just making like 10K pesos per month.

But, if you are making at least a million per year or even half of it, 5% is already a material amount.

Let's compute, with coins.ph exchange rate (it's less 5% of the standard rate), so in a year if you cash out for 1 million pesos, 5% is already PHP 50,000 and that is material to me considering I can still enjoy that Php 50,000 in some other fun activity, or even using it to help your relatives or family.

[Ipwich]

Update : Still no reply from bittrex regarding my application.

To OP usually how long is the processing period?

[arielbit]

Update : Still no reply from bittrex regarding my application.

To OP usually how long is the processing period?

1-2 days only, it took 2 days for me because I have to point out my name and address in the lower left of the bank statement, bittrex support didn't notice that the first day.

[Ipwich]

Update : Still no reply from bittrex regarding my application.

To OP usually how long is the processing period?

1-2 days only, it took 2 days for me because I have to point out my name and address in the lower left of the bank statement, bittrex support didn't notice that the first day.

It's already 4 days now and I still did not receive a reply, maybe they also have some weekend or off woks days?
I will wait until the end of this week, if still not update, I might resubmit again and maybe try Kraken since they also allow USD transaction.

What other sites do you know that accepts USD transactions?

[arielbit]

Update : Still no reply from bittrex regarding my application.

To OP usually how long is the processing period?

1-2 days only, it took 2 days for me because I have to point out my name and address in the lower left of the bank statement, bittrex support didn't notice that the first day.

It's already 4 days now and I still did not receive a reply, maybe they also have some weekend or off woks days?
I will wait until the end of this week, if still not update, I might resubmit again and maybe try Kraken since they also allow USD transaction.

What other sites do you know that accepts USD transactions?

Saturday and Sunday, maybe they don't process request in those days (Business days are typically Monday to Friday). Be patient, I think your application will be approved, it wasn't complicated for me.

kraken and bittrex only..

[Ipwich]

I received an email today, still I have a little problem but just a minor ones, I guess I can comply this anytime soon, but this one below I don't understand.

To ensure your bank details are added to the system correctly please also include the international USD wire instructions from your bank for your account.

Can you help me on this...?

[arielbit]

I received an email today, still I have a little problem but just a minor ones, I guess I can comply this anytime soon, but this one below I don't understand.

To ensure your bank details are added to the system correctly please also include the international USD wire instructions from your bank for your account.

Can you help me on this...?

I think they want the SWIFT code to be given by the bank (verified by picture) not just something you typed, a picture of the bank certification should include the SWIFT code.

The attached document from your bank must show your account number, bank name, bank address, and most importantly your bank account name. If possible, please show bank routing number as well, as this will help ensure the right routing (ABA or SWIFT) number is recorded. We do not need to see any balance, transaction, or other personal information. Please feel free to redact that information from any statements you send us. The intent is to confirm you have control of the account and we have your account number and routing number logged correctly.

(maybe try this first) you can give this link to them to verify the SWIFT code https://www.bpiexpressonline.com/p/1/875/ways-to-send

if they still want a picture of the certification with the SWIFT code, i guess you have to get one from your bank.

[pinoycash]

I received an email today, still I have a little problem but just a minor ones, I guess I can comply this anytime soon, but this one below I don't understand.

To ensure your bank details are added to the system correctly please also include the international USD wire instructions from your bank for your account.

Can you help me on this...?

Most banks provides a leaflet for USD wire transfer instructions and Faqs,

You should get one from directly from the bank teller or officer since this is not usually given to normal clients/depositor.

[Ipwich]

Finally I got approved, thanks for all your help guys, especially the OP.

Part of the message I received through email today.

Congratulations, your request to enable your Bittrex account(s) for USD trading, USD deposits, and USD withdrawals for my name  has been approved!

I made my first deposit transaction today with a small amount (less than $100) , and I notice there is no fee, if this is normal then it's good for us.

If anyone wants to apply, I would also be willing to help to entertain your questions.

[Ipwich]

@arielbit good morning to you.

Based on your experience, can you tell what is the normal processing period before your withdrawal reflects into your BPI account?
I still don't receive mine and it's been 24 hours already.

[arielbit]

@arielbit good morning to you.

Based on your experience, can you tell what is the normal processing period before your withdrawal reflects into your BPI account?
I still don't receive mine and it's been 24 hours already.

@arielbit ilan days or hours aabutin para pumasok sa account mo yung usd withdrawal from bittrex? Pwede din ba sya kahit weekend or holiday? I mean papasok pa din ba or during business days lang dito satin?

ang receiving side ng BPI laging online kasi computer na yan, may system nang nagpprocess nyan. ang US o yung bittrex ang imonitor mo.

realtime ang wire transfer within the day nandito na yan.

sabi ni bittrex, withdrawal made before 9 AM PST ay merereceive sa same day or 1 AM dito sa Pilipinas, sabihin natin na nag withdraw ka ng gabi dito bago ka matulog, pag gising mo ng umaga hanggang tanghali, most likely pumasok na yung pera mo.

I only tried it once and it was quick.

[Ipwich]

I only tried it once and it was quick.

This is the reply I received today when I chat to their support.


Thank you for your patience. Please be aware that international wire transfers may take up to 5 business days to settle due to global inter-bank transfer limitations. If this time frame has passed and you still have not received your USD wire transfer in your bank account, your withdrawal may be delayed.

Withdrawal delays can occur due to intermediary bank processes or invalid wire deposit information. If your withdrawal is delayed, please reach out to your bank and request your wire deposit instructions.

To investigate your withdrawal further, we will require a copy of the International USD Wire Deposit Instructions from your Bank, so we can verify the information on your account is correct.



Update today March 15, all solve, I deposited successfully but I just have questions about the fee because I can seem to find a fee bracket.

I tried with a small amount first  - 25 usd and I only received 18.50 usd, I don't know if I will transact a bigger amount it might take a bigger fee.

[pinoycash]

Update today March 15, all solve, I deposited successfully but I just have questions about the fee because I can seem to find a fee bracket.

I tried with a small amount first  - 25 usd and I only received 18.50 usd, I don't know if I will transact a bigger amount it might take a bigger fee.

Wire transfer fee is fix amount depending on the bank, You should ask your bank how much they charge in sending a wire transfer transaction. Since Bittrex has ZERO fees in both deposit and withdrawal via wire transfer

Fiat Deposit and Withdrawals- Bittrex does not charge fees for USD deposits and withdrawals. You will want to check with your bank as they may charge a fee to send your wire transfer as well as receive a wire transfer at your bank. Also, for international customers if your bank uses an intermediary bank you will want to check with them to see if they charge a fee.

Source: https://bittrex.zendesk.com/hc/en-us/articles/115000199651-What-fees-does-Bittrex-charge-

[Ipwich]

Update today March 15, all solve, I deposited successfully but I just have questions about the fee because I can seem to find a fee bracket.

I tried with a small amount first  - 25 usd and I only received 18.50 usd, I don't know if I will transact a bigger amount it might take a bigger fee.

Wire transfer fee is fix amount depending on the bank, You should ask your bank how much they charge in sending a wire transfer transaction. Since Bittrex has ZERO fees in both deposit and withdrawal via wire transfer

Fiat Deposit and Withdrawals- Bittrex does not charge fees for USD deposits and withdrawals. You will want to check with your bank as they may charge a fee to send your wire transfer as well as receive a wire transfer at your bank. Also, for international customers if your bank uses an intermediary bank you will want to check with them to see if they charge a fee.

Source: https://bittrex.zendesk.com/hc/en-us/articles/115000199651-What-fees-does-Bittrex-charge-

There is no fee according to Bittrex and also according to the bank.
I don't get a clear answer actually but according to the bank manager that I talk to in the branch where I open my account, he said the fee is from the intermediary bank, so there could be a 3 party involve in the transaction, and that is alright for me, my only concern is I want to know the exact fee bracket.