Hi Tangible, is there an estimated time of when you will start accepting moneypaks again? I like to buy my coins with MoneyPaks and would love to use your service!
We will not be accepting MoneyPaks in the future. The only exception would be the very very unlikely event GreenDot reconsiders and allows us to become an official MoneyPak merchant.
From our surplus coins thread:
Roughly a month ago we stopped accepting GreenDot MoneyPaks as a funding option pending an internal review. After some deliberation we have decided to no longer accept GreenDot MoneyPaks going forward. 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.
There is more discussion in that thread about our failed attempt to get a GreenDot merchant account.
Hi Tangible,
I'm very sad to hear that!
MoneyPak is my preferred way of purchasing coins. Seems like everyone is starting to no longer accept MoneyPak's which sucks for me.