The Glory
3 months ago I was ecstatic when I learned how to turn my STEEM INTO CASH. I have since learned several methods, but have stayed faithful to the Bitpay card. I have known for sometime that fiat banks aren't to be trusted with safekeeping your money considering they are in the business of earning for an income what they are holding for us. How ironic is that?
Behind BITPAY
If you see on the hihglighted area, it says This card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Visa U.S.A. Inc. This card must be surrendered upon request. As the laws are written for the big banks, we don't actually own the plastic cards that give us access to our fiat. In some cases you don't wholly own the money that you deposit which is why the FDIC only insures up $250,000 USD. Metropolitan Commercial Bank is a NY based banking institution that financially backs BITPAY so that the VISA, U.S.A. Inc logo can be used. With that being said, it's just like having a bank account. Your assets can easily be denied in the interest of fraud prevention. My card started declining after a several stops to the hardware stores for the @harveyrelieffund. The recorded phone call shows you their explanation or lack thereof.
For the Naysayers
Steemit-Karaoke
Moto-Vlogging
STEEMIT MEET UP Austin
First World Problems
40 Hour Work Week Scam Exposed
Letting Your 5 year old Listen to Rap
There's Adventure in all of Us
I showed you how to pay rent with STEEM
I showed you how to turn STEEM into CASH
N-word etiquette on steem!
I took you to on #STEEMITAERIALTOURS
I took you to #STEEMITGUNCLUB
Animation by the one and only @xtrodinarypilot
STEEM ON & I WILL TAKE YOU PLACES
...mostly in Texas LOL
When he says, "your bank" put a block on it, he is referring to Metropolitan? And this was after several trips to the same store in one day?
Yea spot on, my personal chase account does that,But not my business accounts. That just shows me that perhaps i should spread my btc out to more than just my bitpay wallet. Also thanks for watching the video in its entirety.
It was likely flagged simply due to multiple visits to the same store that day. That's one of the behaviors that's flagged by fraud prevention. Scammers will do that a lot once they get a hold of a card or number. Instead of using it for large transactions - that are usually noticed by a cardholder/issuer/bank - they'll make multiple smaller transactions to avoid detection until they've already drained as much as possible.
I don't think it's necessarily an issue with Bitpay. I've had this happen to me before with a Discover card because I made two transactions at the same store within about 10 minutes. Another time, someone actually got a hold of my card number somehow (I think from Amazon), then used it to make a $350 purchase on Amazon. It was immediately flagged by Discover because the shipping address wasn't mine and they actually called me to confirm.
It always sucks when your card is declined, but it seems like this was just a legit flag* from fraud protection.
*Not to be confused with a flag on Steemit.
Bitpay still didn't not update my address after I sent in the info. Call the FTC for more trouble I've told them before I would call the FTC and everything cleared right up!
I was about to suggest the same. I've had that happen with my AMEX before, but they called me right away to make sure my card hadn't been compromised.
I haven't really started using my bitpay yet, but I would also wonder if it was the multiple trips to the same place that tripped their system.
Your headline got my attention and I was happy to see the other mentions of wallets similar to bitpay. So far, it's the only one I have with this kind of capability.
dam! I was gunna look in to using it too. Oh well, things happen so fast in the crypto world
@cyberblock bitpay is still active.
nice post come check my channel out @crypto-pro and upvote my articles plus I upvoted you
OUCH! Another one bites the dust!
yeah, it's an easy fix but geez. can a brotha get a break? lol
same for bitwala i would guess. Meh I will just hodl my crypto until I can actually buy stuff with it.
bitwala is European?
I should do my research, they are actually a German start-up, maybe I will send an application to them, Berlin is quite a nice city after all. Thanks for the productive backlash :D
Oh no, I love Europe. I tried bitwala and it wouldn't accept my US address.
I had some issues paying with bitwala myself so I prematurely assumed that similar structures would be in place for my card and that Bitwala is just some outlet of a big bank, but it actually is quite a neat start-up.
When I work for them I will make sure you will get one of the first Bitwala US Cards ;)
Shakepay passes through bitpay and has announced their resignation from the field as well, I really wish more places would simply accept it directly.
Shakepay is done? This kind of opens a door for creative projects.
Well bitpay is shakepays processor soo yea. And yes I agree, I am watching OCASH on bitshares pretty close, but their ITO is horrendous.
use tenx!
Link
https://www.tenx.tech/
or
https://tokencard.io/
How did yours get shut down? Mine still works, I love bitpay... at least so far, lol.
The dude from bitpay explained it in the recorded phone call.
I am just a few days away from getting my BitPay card. 💳 Pretty stoked to spend crypto just one time😋
I use my bitpay card to talk to clerks about crypto
It's pretty reliable?
Glad you were able to get it sorted out.
Thank you for what you are doing to help with relief efforts and cryptocurrency.