Silk Road forums
Discussion => Security => Topic started by: SlimScott on September 14, 2011, 01:34 am
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I made a cash deposit at a Wells-Fargo branch exactly as instructed by ebc.com yesterday at lunch. So far I have received no confirmation from them about the deposit and no credit has appeared on my account.
Anyone have any idea how long a cash deposit should take to process? I'm worried that I've thrown a large sum of money away. :(
EDIT: Resolved! See my post below for details.
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Did you keep the receipt given to you by the teller and scan it and e-mail it to them? You must do this with the exact amount
and your login name.
I so far have found them very reliable.
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Yes, I did this the same evening that I made the deposit.
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I so far have found them very reliable.
Then perhaps you could tell us what the estimated time is to complete this process. This info would be very helpful to others considering this service. ;)
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Ok, this has been resolved as follows:
I emailed Ebc about my deposit and got a response within 15 minutes saying they hadn't received my email and would I please resend it. I double-checked everything down to the tiniest letter/number and resent. This time I got confirmation within minutes.
Ebc contact said he wasn't sure why my initial email had been missed, but this one worked just fine. Got funds credited to my account almost immediately after confirmation of my info being received.
Looks like there was just a small snafu in this case. I would hazard a guess that in a normal situation of this kind (cash deposit at bank), funds should be transferred into your Ebc account on the same day that you send confirmation of deposit, if not within hours/minutes.
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I've used this service a few times now and have had nothing but GOOD LUCK with them. As soon as you can send them that email with the scanned attachment of your deposit slip you will have $$$ in your account within hours but more like minutes if its during business hours. No problems. The only thing is that people are asking a few cents more than the up to the minute quote of mtgoxlive. You can always leave a bid and see if anybody jumps on it. It's a great way to get coins I believe. Yes you are being photographed in a bank but they do not have your name for just making a deposit. I feel safe doing it.
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Even buying BTC was super easy. I put in an order at ~20 cents lower than the current rate at that moment, and my purchase was filled within a few hours. I have absolutely no problem paying a little more for BTC if the process is this easy.
Ebc has completely earned my respect and I will certainly do business with them again.
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I made a ING p2p transfer, been 2 business days so far since it was picked up (the estimate 2-3 days, so hopefully will arrive Monday or Tues). Definitely going to try the BoA cash deposit next time.
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If you do cash at BoA and then email a copy of the deposit receipt you will have your money in your account in hours but more like minutes. At least that's been my experience.
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If you do cash at BoA and then email a copy of the deposit receipt you will have your money in your account in hours but more like minutes. At least that's been my experience.
My first transaction was about an hour as I recall. Had I bid more $ per BTC, I would have closed much sooner. :)
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Unfortunately there are no BoA or Wells Fargo banks in my area but I've noticed a few places mentioning being able to deposit cash into bitcoin at Chase banks, however the deposit page on exchangebitcoins doesn't say anything about Chase. If this were a possibility it would be a huge convenience, otherwise, what other methods could I use to turn cash into bitcoin most effectively?
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They switched over to BoA from Chase the beginning of September I believe. Luckily I have both around me but I agree Chase was more convenient. BoA needs out of state deposit slips which you have to ask for....not that big of deal but just so you know. Unless of course you are making a deposit in California.
Still one of the easier and safer ways to get bitcoins I believe.
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Should have figured out this exchangebitcoins things before September I guess. For the nearest Wells Fargo or BofA I'd have to travel at least 60 miles which isn't really practical haha. Looks like I have to investigate other means to purchase this elusive currency. Any advice that can steer me towards getting bitcoins most securely in minimal time is always appreciated.
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i've used https://www.exchangebitcoins.com for many hundreds of dollars worth of purchases and i have *nothing* but praise for them.
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Somewhere on their site it says you can send an "image" of your receipt. Is it okay with them if I send an actual picture of it instead of a scan? I don't have access to a scanner..
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Somewhere on their site it says you can send an "image" of your receipt. Is it okay with them if I send an actual picture of it instead of a scan? I don't have access to a scanner..
Of course. Not a problem at all.
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i also had great service with Exchangebitcoins.com. i deposited cash at bank, took pic of deposit slip with cell phone, sent email (of pic) to the address, and funds in account in minutes. placed bid for BC and got my ordered filled in few hours (could of got them in minutes if my bid was higher)
this was my first time buying bitcoins. I made deposited,got coins, and placed an order, all in the same day :) ;)
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I will add that I usually have had great turnaround time from them -- like usually under 20 minutes for the money to be in the account after the confirmation e-mail is sent.
However, this thread seemed to be created shortly after my similar experience, where I made a deposit, followed it with an e-mail and received no response for more than 12 hours. At first, I thought maybe there was a backlog because with more popularity, maybe they were just taking extra time. But I finally e-mailed them at the info@ e-mail as well as the deposits@ e-mail and the money was in my account within 20 minutes again.
Maybe they had some sort of outage or something and they lost a few e-mails.
Just for the record, I've always just snapped a picture and attached it to the e-mail, never scanning.
All in all, even with my one poor experience, I still love Exchangebitcoins.com
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Hours or less for cash deposits, 2-3 business days for bank transfer, IME. Web site design is spartan, just the info you need and no fluff. Haven't tried Mt.Gox or Tradehill yet, probably not going to bother as long as ExchB keeps up w/ security.
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I mail a US Postal Money order so it takes a couple days to make it to them and a couple days for the deposit to fund my account.
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I have had nothing but good experiences with exchangebitcoins. Simply go to BoA or WF and make your deposit. Save the receipt, take a picture of it, and email it along with your account info. I have always been credited within 10 mins of sending the email. It should be noted that I always make my deposits during business hours though, and I assume it could take up to a few hours. I highly recommend this site to anyone in the United States. The only drawback is that prices are always slightly higher than that of Mt Gox (~5 cents more per bitcoin). There is also a 1% or $1 (whichever is greater) fee on the deposit you make. The convenience is totally worth the slightly additional cost IMO.
As far as security/anonymity goes I feel confident. Although you are being taped during the transaction at the bank, you don't have to give your name for a deposit. As long as you don't make huge, regular deposits (say $2000 twice a week) at the same branch you will be just another random customer. Switch your branches up if you're worried about employees remembering your face.
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Yea pictures through your camera or phone should suffice. Just remember to use tormail (or any other throwaway email id) and remove to scrub the meta-data from the image.