Difference between revisions of "LocalTill"

From Bitcoin Wiki
Jump to: navigation, search
(Add image, create sections)
(Change to past-tense as shuttered along with BitFloor.)
 
Line 1: Line 1:
 
[[File:Bank of America deposit to LocalTill.jpg|320px|thumb|right|Bank of America customer receipt for LocalTill cash deposit]]
 
[[File:Bank of America deposit to LocalTill.jpg|320px|thumb|right|Bank of America customer receipt for LocalTill cash deposit]]
  
'''LocalTill''' is an anonymous merchant cash processing service based in the state of New York, that identifies deposits based on a unique code embedded in last digits of the deposit amount by adding a variable fee between 1% and 4%.
+
'''LocalTill''' was an anonymous merchant cash processing service based in the state of New York, that identifies deposits based on a unique code embedded in last digits of the deposit amount by adding a variable fee between 1% and 4%.
  
For example, a 500 USD deposit with a merchant may require the user to deposit 509.21 USD at a bank, whereby "9.21" is interpreted as a unique identifier for the deposit.
+
Localtill was used by [[Bitfloor]] in the USA, allowing users to make cash deposits (towards bitcoin purchases) at [[Bank of America]] branches using an "out of state deposit" slip.  
 
 
Localtill is used by [[Bitfloor]] in the USA, allowing users to make cash deposits (towards bitcoin purchases) at [[Bank of America]] branches using an "out of state deposit" slip. Deposits are usually credited within 30 minutes, as long as they are made before 5pm Eastern Time.
 
  
 
==Anonymity==
 
==Anonymity==
LocalTill does not request any data identifying the user who makes the deposit. Bank of America does not require identification when making cash deposits, but CCTV footage is likely recorded. The bank teller may ask for a phone number "for reference", which is in actuality not used.
+
LocalTill did not request any data identifying the user who makes the deposit. Bank of America was not requiring identification when customers made cash deposits, but CCTV footage was likely recorded.
 
 
==Fees==
 
LocalTill's fee serves as a deposit identified and is generated randomly when requesting the deposit. It is possible to get lower fees by repeatedly initiating deposit requests.
 

Latest revision as of 07:04, 18 April 2013

Bank of America customer receipt for LocalTill cash deposit

LocalTill was an anonymous merchant cash processing service based in the state of New York, that identifies deposits based on a unique code embedded in last digits of the deposit amount by adding a variable fee between 1% and 4%.

Localtill was used by Bitfloor in the USA, allowing users to make cash deposits (towards bitcoin purchases) at Bank of America branches using an "out of state deposit" slip.

Anonymity

LocalTill did not request any data identifying the user who makes the deposit. Bank of America was not requiring identification when customers made cash deposits, but CCTV footage was likely recorded.