Security & Verification
Using e-Currency Bitcoin for purchase and withdrawal is one method although many UK members do find that the process of withdrawing, transferring e-Currency to GBP & into the related UK bank account can be a lengthy and costly experience. This is definitely a great method for purchase.
The key issue that many people overlook is the importance of verification and uploading the required proof of identity and bank details. All merchant accounts do impose limitations on withdrawals where verification is not completed.
Ensure the verification process is adhered to, signing up for a merchant account is not all that is needed, follow all requirements and note that these additional processes are for your security and follow a strict legal protocol. These rules are not put in place without good reason and I have seen people wrongly accusing financial institutions simply because that person has not followed the legal processes put in place.
Documentation uploaded is often rejected for verification due to the quality or incompleteness of image, with this in mind do not be surprised if your documents are rejected, keep communications with the provider consistent and check that all documentation is correctly presented as per the requirements of each individual provider, this can be frustrating but unfortunately it is a necessary evil to overcome.
For withdrawals and crediting use Perfect Money for all fund transfers including bank transfers.
To get your Perfect Money account click on text link or image below and you will be redirected to their site.
What is Electronic Currency?
Bitcoin Debit Card
XAPO to buy, sell or transfer bitcoins and get a debit card to withdraw at ATM’s and purchase within Stores or use on-line globally, there are currently three currencies you can assign to a card (GBP,USD or EUR) any purchase made with your chosen currency has no fee attached by XAPO.
A standard currency exchange percentage fee for purchases in any other currencies is made.