Post
Topic
Board Currency exchange
Re: Buy Bitcoins Direct @ MtGox last without fees or exchanges
by
rjk
on 19/07/2012, 20:47:58 UTC
We stopped accepting GreenDot MoneyPaks as a funding option roughly a month ago pending a review.  We have decided to no longer accept them.  We were never defrauded the issue is simply scale.  MP to PayPal is useful but that is limited to only $4K per month.  MP to credit cards has limited value for us and if we attempt to get cash that incurrs a high cost.  We now have over $100,000 worth of Bitcoins to sell each month.  MoneyPak simply doesn't scale.   If GreenDot allowed us to become a MP merchant we could accept MP and get daily ACH deposits however that is unlikely to happen given GreenDot hostility towards Bitcoin. 
Isn't this where Bitinstant steps in with a pre-made Greendot intermediary, all set up and ready to go? Yessir, all wrapped up in a tidy package for you, they will take the Moneypaks, and send you an ACH to disburse to your customers as you see fit. For a fee, of course. Wink

If not them, someone needs to do it.