Silk Road forums
Discussion => Security => Topic started by: hashmaster on September 25, 2012, 09:14 pm
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So what are the best options now both these sites are unable to process transactions?
used both intersango and mtgox but both are now limiting uk options to deposit
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I just started a thread same time as you, im thinking of transfering to their EUR bank account in poland but need to find a bank that does international transfers for free or cheap... My bank charges £27 !!! The account is based in poland and they usually charge 10 pln per transfer which is about £2..
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Yeah, me and a mate have had the same problem today. I'm guessing the 300 transaction (deposits) limit has been reached, and then Barclays put a block on the account. I'm considering trying after midnight to see if the 300 daily transaction limit has been reset and then it will allow GBP transfer. I hope so.
If it's not working later, then I'm presuming this block on that a/c and sort code is permanent or at least semi-permanent. Going the same way as Intersango....
The way I see it, there are two possible reasons for this.
1.) The type of account that Mt.Gox have with Barclays is not a proper business account, and therefore they're not paying fee's on money being deposited into the account. This might explain why Barclays have restricted them, and are trying to make them switch to a business account where they have to pay fees, and would then no doubt have to pass them onto people like us.
2.) The establishment are cracking down on Bitcoins. It's fair to say they don't like this free-market currency as THEY don't have any control over it, and therefore can't impose fees or follow the money. Also, it must be very difficult to attack the SR as it's concealed on the Tor network, but it's far easier to attack the way people get their bcs, by making things difficult for the Bitcoin-exchange websites. I used to get my coins from Intersango, but they had a similar problem and are no longer able to accept UK bank transfers.
The crazy thing is, who ever heard of a bank that didn't accept money!!?? This is a big concern for all of us. I would say something is going down behind the scenes and this is part of an orchestrated plan by the establishment.
Can anyone recommend a good BTC exchange which allows GBP bank transfers?
In response to Orinoko Flow, I also looked at transferring to Mt.Gox Japanese bank, but you get charged 2.5% of the amount, plus a 1,000 yen ($12) receiving fee, PLUS whatever fee your UK bank is charging for the international transfer. Starts to get a bit silly at this point...
cheers
PTF
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I also tried to transfer funds to MTGox today online, only to have a popup telling me the account number was incorrect (Which it wasn't).
So at lunch I popped to my local bank and again attempted the same transaction, the lady in the bank who I know quite well from going in, told me that the account could not be credited because the account status was closed.
She turned the monitor around to show me as well...
Hopefully they or intersango sort something out soon, I don't really know of any other options.
: (
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I have contacted mtgox support as I£136 that's floating around somewhere and they are going to find the transactions after they received their Sept statement from barclays. Furthermore they also said "we are working towards a solution to this temporary suspension of UK deposits with Barclays or another UK/ EU bank". So it is a headache but all is not lost, MTgox are the longest running btc exchange. In the mean time if the charges involved for international transfers aren't cost effective, I personally am looking into okpay account to deposit to my mtgox account through there, although I need to do more research. There is always more than one way to skin a rabbit!!
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The international transfers via online banking aren't too expensive IF you're sending a decent about of cash. £10 flat rate with most banks. I did one to Intersangos Euro account and it took 3 hours and I had the funds. Took 10 mins to do online. All up, quicker than the old GBP deposit.
I reckon I paid about 5% more overall for my BTC. I'm also looking into other methods, but this seems the best for now, especially if you get a few friends to chip in so you've got a few hundred quid to make it worthwhile.
PTF