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ibrahim11 (OP)
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August 23, 2014, 06:13:58 PM
Last edit: August 24, 2014, 01:45:49 PM by ibrahim11 |
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Hi, my sisters bank account got suspended for buying 2 btc because she was transferring over £600 to a btc seller. I have to go to her bank with a photo id and my bank statement and show them that I transferred funds to my sisters account. (By the way, I transferred money from my paypal using my debit card to my sisters paypal then she withdrawed it to her bank account. I did this because I don't have online banking and the banks were closed at the time to make a cash deposit. Also, I'm under 18 so if they ask why do I have paypal, i'll just say aren't I allowed it and if they say I have to be over 18 then I will just say I didn't know that  ) However, the banks do not know what bitcoin is. So what do I say to them? Should I say it is a virtual currency and should I show them a screenshot of localbitcoins? Thanks |
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Make sure you back up your wallet regularly! Unlike a bank account, nobody can help you if you lose access to your BTC.
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ibrahim11 (OP)
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August 23, 2014, 07:48:43 PM |
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bump
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Milkcookie
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August 23, 2014, 07:54:59 PM |
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A bank that do not know whats bitcoins  maybe print out some wikipedia and show it to them |
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valvalis
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August 23, 2014, 08:15:33 PM |
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It's a really hard thing to do  Even It's difficult to explain what bitcoin is to my parents |
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Milkcookie
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August 23, 2014, 08:36:29 PM |
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What bank is it if its not a secret  |
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ibrahim11 (OP)
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August 23, 2014, 09:03:31 PM |
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What bank is it if its not a secret TSB bank (UK). The lady in the bank didn't know what bitcoin was. I'll just say to them it's a virtual currency. |
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cryptofan5
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August 24, 2014, 05:26:15 AM |
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Can just say that its online credits to use for online payments on a game site :-)
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ibrahim11 (OP)
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August 24, 2014, 01:37:04 PM |
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Can just say that its online credits to use for online payments on a game site :-)
I'm pretty sure they'll think im a retard for trying to buy over £600 ($995) worth of game credits. |
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oceans
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August 24, 2014, 03:15:02 PM |
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I honestly thought most banks knew what bitcoins were to be honest, proved wrong though from this post.  I would see if you can find any information on places such as wikipedia or even other websites that you can print off to show them exactly what it is that is being done and take it from there. I hope you get this resolved soon |
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gelar24
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August 24, 2014, 03:24:59 PM |
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It's a really hard thing to do Even It's difficult to explain what bitcoin is to my parents haha true even though I have explained to their parents still do not know: D but they wonder why I can earn a lot of bitcoin it: D |
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ibrahim11 (OP)
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August 24, 2014, 06:00:21 PM |
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Which companies accept bitcoin? I am asking so I can give the bank some info about it and how it is widely used I know Dell and Overstock accept bitcoins. Does anyone know any other big companies that accept bitcoins? |
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Vortex20000
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August 25, 2014, 01:57:42 AM |
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Refer them to weusecoins.com.
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Dabs
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The Concierge of Crypto
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August 25, 2014, 02:03:49 AM |
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They don't need to know what BTC is, they just need to be assured that your sister really does want to transfer those £600 to someone else.
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bitkanu
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August 25, 2014, 04:12:14 AM |
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Which companies accept bitcoin? I am asking so I can give the bank some info about it and how it is widely used I know Dell and Overstock accept bitcoins. Does anyone know any other big companies that accept bitcoins? its really good question basically it helps to show growth of Bitcoins . if you want to study Bitcoin deeply then you have to follow this site " http://www.coindesk.com/" . I sure you will updated time to time if any changes come in BTC market |
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haploid23
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August 25, 2014, 04:40:48 AM |
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I honestly thought most banks knew what bitcoins were to be honest, proved wrong though from this post. All banks know what bitcoin is by now. It's the low level gnomes that work inside the physical locations that haven't got a clue what bitcoin is. Talk to an analyst in the fraud department, tell them it's a bitcoin transaction and they'll close your bank account. |
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desticy
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www.cd3d.app
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August 25, 2014, 06:01:47 AM |
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Please be assured that the bank must know Bitcoin, but may not know for the bank teller
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Mars not Moon
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August 25, 2014, 06:26:15 AM |
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As long as it's your money and it's from a legit source,you don't have to really explain for what purpose you are transferring the money either it be a bitcoin or anything.It's not the banks concern btw but the paypal could raise the question.Paypal and Bank are ;)different
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ibrahim11 (OP)
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August 25, 2014, 06:41:06 PM |
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They don't need to know what BTC is, they just need to be assured that your sister really does want to transfer those £600 to someone else.
I honestly thought most banks knew what bitcoins were to be honest, proved wrong though from this post. All banks know what bitcoin is by now. It's the low level gnomes that work inside the physical locations that haven't got a clue what bitcoin is. Talk to an analyst in the fraud department, tell them it's a bitcoin transaction and they'll close your bank account. I'm pretty sure they won't close the bank account because when my sister went into the bank, the lady was talking to the headquarters and all they seemed to be looking for was a stamped bank statement showing my bank account transferring funds to her paypal account. I have ordered a bank statement, I will go and get it stamped and I will take my passport and go to my sisters bank with her. |
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haploid23
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August 25, 2014, 07:49:57 PM |
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I'm pretty sure they won't close the bank account because when my sister went into the bank, the lady was talking to the headquarters and all they seemed to be looking for was a stamped bank statement showing my bank account transferring funds to her paypal account. I have ordered a bank statement, I will go and get it stamped and I will take my passport and go to my sisters bank with her.
I'm not saying it's a guaranteed that they close your account, but you sister is at very high risk of having an account closure (and possibly banned too) if you say it was for a bitcoin transaction. I'm not sure if UK has similar sentiments as the US, but here generally banks will close your account if you're dealing with bitcoin, even if it's totally legit. |
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ibrahim11 (OP)
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August 25, 2014, 08:06:42 PM |
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I'm pretty sure they won't close the bank account because when my sister went into the bank, the lady was talking to the headquarters and all they seemed to be looking for was a stamped bank statement showing my bank account transferring funds to her paypal account. I have ordered a bank statement, I will go and get it stamped and I will take my passport and go to my sisters bank with her.
I'm not saying it's a guaranteed that they close your account, but you sister is at very high risk of having an account closure (and possibly banned too) if you say it was for a bitcoin transaction. I'm not sure if UK has similar sentiments as the US, but here generally banks will close your account if you're dealing with bitcoin, even if it's totally legit. Oh well, we'll see |
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