My Financial Institution does not suport the purchase of BitCoin

Bitcoin Questions and AnswersCategory: General questionsMy Financial Institution does not suport the purchase of BitCoin

SGreen asked 3 months ago

Last updated on February 20th, 2018 at 12:19 pm

Hi. I have been trying for months to purchase bitcoin but regardless of the sites or exchange I used, either did not service my area or I could not pass verification. I now believe that verification was not the problem, but my financial institutions. My last attempt was at Changelly. In this attempt, I made 3 attempts to make a purchase. 1st with my Chase credit card, 2nd with my Community Bank Debit card and 3rd with a Prepaid Walmart credit card, managed by Green Dot. These transactions tend to go thru Simplex and were all denied. I then called Chase credit card company to find out why it was denied, and they told me that Simplex is a legitimate company, but Chase does not support the purchase of Bitcoins. So I am assuming that this is the same case with my Bank and prepaid card services. Could you list the financial institutions that you know will allow the purchase to complete and I will be glad to open a account with them to make a transaction. Thanks

1 Answers
Steven Hay answered 3 months ago

Hi SGreen,
 
I”m reposting my answer to you from the comments section, in case you didn’t see it there.
 
I assume from your mentions of Walmart and Chase that you’re an American citizen. I have no idea why your payment method of choice, i.e., credit / debit cards, is failing. If you’re set on using this method (it is more expensive than most other methods but usually more convenient, although this certainly doesn’t seem to be the case for you), then I’d suggest you try try CoinMama.com.
 
The quickest and easiest method will likely prove to be a cash purchase. For full details, check out my guide on buying Bitcoin with cash (briefly stated, your options are buying from a person face-to-face via LocalBitcoins.com / Mycelium Local Trader, via bank deposit from Liberty X / Wall of Coins / BitQuik or from an ATM found on CoinATMradar.com):
 

4 Ways to Buy Bitcoin with Cash Worldwide (Updated for 2018)


 
I would also investigate signing up with an exchange and funding your account via bank transfer. However, the verification process for signup will likely take a while (perhaps as long as 2 weeks) which is why I recommend cash; it tends to be fast and fairly easy.

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