Bitcoins Direct Support Thread

[ChipGeek]

I also have had an excellent transaction with Tangible and plan on using them again in the future.

[TangibleCryptography]

Tangible Cryptography is happy to announce that starting Friday (09/14) clients will be able to deposit at any PNC branch.   The addition of PNC Bank to our deposit accounts with Bank Of America and Wells Fargo gives our clients over 16,000 locations nationwide to purchase bitcoins.  The Bitcoins Direct service will continue to offer secure, private, off exchange sales with no fees and an exchange rate 1% below the 'MtGox last price'.

[samadamsbeer]

I'm thinking to open an account with Bank Of America, Wells Fargo, or PNC Bank branch, just for purposes of purchasing BTC. Does anyone have any suggestions for one vs. the other? It would be not used frequently so would be looking for a no-fee account, no interest I assume. I'm frequently throughout New England, Boston/NH. Would be great if works abroad too.

[TangibleCryptography]

I would point out that aren't required to have a BofA, Wells Fargo, or PNC Bank account to use Bitcoins Direct.  We accept cash deposits at those branches.  The only advantage of having an account with one of the three would be you could withdraw from your account and deposit into our account at the same location.   We also accept bank wire's so it is possible to send funds to our account from any bank if you are concerned about transporting cash.

If you need an account in one of the three for a reason I can't think of the only one offering truly free checking is PNC.  With the other two there are limits (min balance, or direct deposit, or no teller transactions) to get free account.

[samadamsbeer]

My mistake. I had in the back of my mind the fact that I believe Bank of America account holders can transfer money to other Bank of America account holders, I believe free of charge, online. But I think this may be something equivalent to ACH which you don't accept. Otherwise I will endeavor to use your service ASAP!

[TangibleCryptography]

My mistake. I had in the back of my mind the fact that I believe Bank of America account holders can transfer money to other Bank of America account holders, I believe free of charge, online. But I think this may be something equivalent to ACH which you don't accept. Otherwise I will endeavor to use your service ASAP!

BofA does have a feature where you can instantly transfer funds to another BofA account.  This would be a great deposit option but they block it from working on business accounts.  If you try you will get an error.  No technical reason it couldn't work but they don't want to give business accounts free "anything".

[samadamsbeer]

My mistake. I had in the back of my mind the fact that I believe Bank of America account holders can transfer money to other Bank of America account holders, I believe free of charge, online. But I think this may be something equivalent to ACH which you don't accept. Otherwise I will endeavor to use your service ASAP!

BofA does have a feature where you can instantly transfer funds to another BofA account.  This would be a great deposit option but they block it from working on business accounts.  If you try you will get an error.  No technical reason it couldn't work but they don't want to give business accounts free "anything".

Depending on what the fee was, I still would be interested. It would certainly be the convenient armchair option that beats wire transfers or cash deposits. Just need your customers to have accounts in certain banks.

[TangibleCryptography]

Maybe I wasn't clear, it isn't available to business accounts at any cost.  Bank Of America intentionally cripples that service so it can't ve used to send funds from or to business accounts.  Banks have small business exactly where they want them.  "Free checking" yeah not for businesses.   Transaction fee, deposit fee, withdraw fee, ACH fee, check fee, bank wire fee, monthly fee, account data fee, and every bank's favorite the credit card fees.  Business accounts are even charged to use cash (no I am not kidding)!  

So Bank Of America (and every other major bank) cripples all these instant transfer services to make sure businesses can't bypass their fee empires.  If a customer wants to pay a business the banks want them to use a CC so the bank can get 3% or maybe a bank wire so the bank can collect $10 to $30. IIRC last month we paid almost $2,000 in banking fees and we still can't use instant account transfers.

[BCB]

+1 TC fast and easy transaction.

Thank you.

[sunnankar]

Banks have small business exactly where they want them.  ... Business accounts are even charged to use cash (no I am not kidding)!  

You may consider Chase as an alternative to BoA. Not that I like Chase much but they at least seem better than BoA. I have an account for one of my simple LLCs and doesn't seem too bad. Got dinged with a fee because they changed how it functions and were not very clear in the documentation. But overall not all that bad.

We charged a monthly service fee to your Chase BusinessSelect Checking account because it did not meet at least one of these criteria during the statement period:   

Maintain an average daily balance of at least      $7,500.00   
Your average daily balance was      $X,XXX.XX   
 
Make Chase Business credit card purchases of at least      $1,000.00   
You spent      $XXX.XX   
 
Pay qualifying checking-related services or fees of at least      $50.00   
You paid      $0.00   
 
Keep an average qualifying deposit and investment balance of      $25,000.00   
Your average qualifying balance was      $X,XXX.XX

[jwzguy]

Another stellar transaction with Tangible Cryptography. Thanks!

[Severian]

Another stellar transaction with Tangible Cryptography. Thanks!

I really wish all bitcoin merchants would take a cue from TC. Never a hitch.

[arabianights]

Maybe I wasn't clear, it isn't available to business accounts at any cost.  Bank Of America intentionally cripples that service so it can't ve used to send funds from or to business accounts.  Banks have small business exactly where they want them.  "Free checking" yeah not for businesses.   Transaction fee, deposit fee, withdraw fee, ACH fee, check fee, bank wire fee, monthly fee, account data fee, and every bank's favorite the credit card fees.  Business accounts are even charged to use cash (no I am not kidding)!  

So Bank Of America (and every other major bank) cripples all these instant transfer services to make sure businesses can't bypass their fee empires.  If a customer wants to pay a business the banks want them to use a CC so the bank can get 3% or maybe a bank wire so the bank can collect $10 to $30. IIRC last month we paid almost $2,000 in banking fees and we still can't use instant account transfers.

How about opening a dollar bank account here where I live on the Isle of Man? Obviously business banking still ain't free but it's a hell of a lot cheaper than that!

[TangibleCryptography]

Maybe I wasn't clear, it isn't available to business accounts at any cost.  Bank Of America intentionally cripples that service so it can't ve used to send funds from or to business accounts.  Banks have small business exactly where they want them.  "Free checking" yeah not for businesses.   Transaction fee, deposit fee, withdraw fee, ACH fee, check fee, bank wire fee, monthly fee, account data fee, and every bank's favorite the credit card fees.  Business accounts are even charged to use cash (no I am not kidding)! 

So Bank Of America (and every other major bank) cripples all these instant transfer services to make sure businesses can't bypass their fee empires.  If a customer wants to pay a business the banks want them to use a CC so the bank can get 3% or maybe a bank wire so the bank can collect $10 to $30. IIRC last month we paid almost $2,000 in banking fees and we still can't use instant account transfers.

How about opening a dollar bank account here where I live on the Isle of Man? Obviously business banking still ain't free but it's a hell of a lot cheaper than that!

The only thing we have found for non-residents in Isle of Man is magnitudes more expensive (like any offshore location).  We would like an Isle of Man or other SEPA capable account so we could provide similar services for EU clients but the costs are simply prohibitive.    Canada might be a possibility soon. 

[arabianights]

As a resident I can be a silent partner and open the account for ya in return for a tenth of what you're paying per month

(You would need to setup a company over here which again I can help with but after that I have no idea what is involved and it may be prohibitively expensive)

[DeathAndTaxes]

I don't think you understand why our banking fees are so high so that is a promise you can't deliver on. Still even if it were true you don't really think we would still be in business if we setup accounts so an unknown person on the internet in another continent would be the sole signatory on an account containing tens of thousands of dollars of company property?

[2weiX]

Maybe I wasn't clear, it isn't available to business accounts at any cost.  Bank Of America intentionally cripples that service so it can't ve used to send funds from or to business accounts.  Banks have small business exactly where they want them.  "Free checking" yeah not for businesses.   Transaction fee, deposit fee, withdraw fee, ACH fee, check fee, bank wire fee, monthly fee, account data fee, and every bank's favorite the credit card fees.  Business accounts are even charged to use cash (no I am not kidding)! 

So Bank Of America (and every other major bank) cripples all these instant transfer services to make sure businesses can't bypass their fee empires.  If a customer wants to pay a business the banks want them to use a CC so the bank can get 3% or maybe a bank wire so the bank can collect $10 to $30. IIRC last month we paid almost $2,000 in banking fees and we still can't use instant account transfers.

How about opening a dollar bank account here where I live on the Isle of Man? Obviously business banking still ain't free but it's a hell of a lot cheaper than that!

The only thing we have found for non-residents in Isle of Man is magnitudes more expensive (like any offshore location).  We would like an Isle of Man or other SEPA capable account so we could provide similar services for EU clients but the costs are simply prohibitive.    Canada might be a possibility soon. 

maybe that polish bank (wbk?) that mtgox and intersango relay their SEPA over?

[aneutronic]

Maybe I wasn't clear, it isn't available to business accounts at any cost.  Bank Of America intentionally cripples that service so it can't ve used to send funds from or to business accounts.  Banks have small business exactly where they want them.  "Free checking" yeah not for businesses.   Transaction fee, deposit fee, withdraw fee, ACH fee, check fee, bank wire fee, monthly fee, account data fee, and every bank's favorite the credit card fees.  Business accounts are even charged to use cash (no I am not kidding)!  

So Bank Of America (and every other major bank) cripples all these instant transfer services to make sure businesses can't bypass their fee empires.  If a customer wants to pay a business the banks want them to use a CC so the bank can get 3% or maybe a bank wire so the bank can collect $10 to $30. IIRC last month we paid almost $2,000 in banking fees and we still can't use instant account transfers.

Have you checked ING? Bitfloor is currently accepting deposits through their customer to customer transfers.

[DeathAndTaxes]

Have you checked ING? Bitfloor is currently accepting deposits through their customer to customer transfers.

Yes.  ING offers no business checking accounts so there is no option for instant payment. We can forward ING payments to our company bank accounts.  We are currently conducting a limited trial.  However understand that is a normal ACH so the standard 3-5 day delay applies, there is nothing "instant" about it.  So it is more like; deposit $x, lock exchange rate, wait 3-5 days, we deliver BTC.

[Bugpowder]

My mistake. I had in the back of my mind the fact that I believe Bank of America account holders can transfer money to other Bank of America account holders, I believe free of charge, online. But I think this may be something equivalent to ACH which you don't accept. Otherwise I will endeavor to use your service ASAP!

BofA does have a feature where you can instantly transfer funds to another BofA account.  This would be a great deposit option but they block it from working on business accounts.  If you try you will get an error.  No technical reason it couldn't work but they don't want to give business accounts free "anything".

That feature is really just for tiny transfers.  $1k limit / day $2.5k / wk.