Quote from: matthewh3 on April 24, 2013, 06:34:44 PM

Quote from: Its About Sharing on April 24, 2013, 09:13:38 AM

I imagine there are very very easy ways around that.

For example, here in Germany, bitcoin.de does not yet have a bank account (though they just made a deal with a bank).
Now, when you sign up there, you have to register your bank account. They merely sent you .01 with a code attached. Get that and verify that code through their site - that activates your account.
Next, when you buy a bitcoin you receive the verified sellers account information. You send the money via SEPA or German transfer and mark it as paid (you have 12 hours to mark it).
When the money arrives, the seller marks it as such and the coins, which are locked in their account, are released into your account.

If England allows SEPA transfers to Germany, just sign up with bitcoin.de.

Now, I did have problems with this system. I sold 5 BTC's at 150 Euro and the price tanked shortly there after. The seller, decided not to pay and bitcoin.de automatically cancelled the transaction
after 24 hours. Not much I could do with a selfish crook like that. Anyway, I and probably others, complained and then they changed the confirmation time from 24 to 12 hours. These are just
growing pains. The idea of bitcoin.de getting the bank account will make transactions instantaneous (relatively speaking) and solve this problem.

Anyway, you see my point. If there is an exchange where you are not, per say, sending money to the exchange, but rather an individual, how the heck can a bank know that? Yes, there is more
worry, but by from experience sellers (which I forgot to check and my seller had only 1 star) and just don't buy all from the same person if you are unsure. But if the person has a pefect record, then all is usually good.

IAS

Yes the UK is part of the SEPA zone its just that all UK banks charge extortionate fees for sending or receiving SEPA transfers.

That is weird. In Germany I don't even pay for SEPA at all (Not that I noticed). Anywhere in the EU it is the same as doing an in Country transfer (free). Probably dependent on the bank,
but that is really unfair what is going on in the UK.