08-24-2020, 02:32 AM
Did a dumb thing, need help
<!-- SC_OFF --><div class="md"><p>First off, let’s acknowledge that I’m a dumb idiot who did a dumb thing - have a chuckle at my naïvety, take a moment to reflect on the superiority of your judgement - and let’s move past it. </p> <p>In short, because my checking account, debit card associated with that account, and my credit card are all provided by Discover, which is apparently uniquely hostile to its customers’ involvement in <em>any</em> crypto-related transaction, more so than, say, MasterCard or Visa. </p> <p>So, my brilliant solution to this issue was to use my Discover debit card to buy two $500 prepaid Vanilla Visa cards. After several days researching the details of prepaid cards and online card payment processors, it appears that all cards that can be used for online transactions, including credit, debit, and prepaid cards, fall into one of two categories: “authorized,” meaning the card issuer has your identity info on file - whether or not they provide that info depends on the specifics of the transaction, but the important thing is that they <em>have</em> the info, and thus will confirm the card as “authorized” to whatever online card processor is handling the transaction. Then there are the “unauthorized” cards, where the issuer will confirm the card is real, it’s balance is sufficient for the transaction, etc, but has no identity info on file associated with the card. And, unfortunately, it seems the vast majority of online payment processors will reject unauthorized cards.</p> <p>So my question is, besides losing 30% of the money trading these cards for BTC on a P2P exchange with some dude in Bulgaria, is there any way to either A) transfer/exchange the funds on these cards to another card, account, etc. that <em>can</em> be used to buy crypto, or B) find a direct coin vendor that will accept payment with such unauthorized cards? </p> <p>I will note that even the exchanges where I had completely the most extensive and detailed KYC processes (uploading & verifying ID cards, my passport, phone number, address, and so on) will not take these unauthorized cards, which seems strange to me as they already have all my identity info, so I can’t see what the problem would be with paying with a card that’s not associated with my identity. Thanks in advance for any advice!</p> </div><!-- SC_ON --> Kind Regards R
<!-- SC_OFF --><div class="md"><p>First off, let’s acknowledge that I’m a dumb idiot who did a dumb thing - have a chuckle at my naïvety, take a moment to reflect on the superiority of your judgement - and let’s move past it. </p> <p>In short, because my checking account, debit card associated with that account, and my credit card are all provided by Discover, which is apparently uniquely hostile to its customers’ involvement in <em>any</em> crypto-related transaction, more so than, say, MasterCard or Visa. </p> <p>So, my brilliant solution to this issue was to use my Discover debit card to buy two $500 prepaid Vanilla Visa cards. After several days researching the details of prepaid cards and online card payment processors, it appears that all cards that can be used for online transactions, including credit, debit, and prepaid cards, fall into one of two categories: “authorized,” meaning the card issuer has your identity info on file - whether or not they provide that info depends on the specifics of the transaction, but the important thing is that they <em>have</em> the info, and thus will confirm the card as “authorized” to whatever online card processor is handling the transaction. Then there are the “unauthorized” cards, where the issuer will confirm the card is real, it’s balance is sufficient for the transaction, etc, but has no identity info on file associated with the card. And, unfortunately, it seems the vast majority of online payment processors will reject unauthorized cards.</p> <p>So my question is, besides losing 30% of the money trading these cards for BTC on a P2P exchange with some dude in Bulgaria, is there any way to either A) transfer/exchange the funds on these cards to another card, account, etc. that <em>can</em> be used to buy crypto, or B) find a direct coin vendor that will accept payment with such unauthorized cards? </p> <p>I will note that even the exchanges where I had completely the most extensive and detailed KYC processes (uploading & verifying ID cards, my passport, phone number, address, and so on) will not take these unauthorized cards, which seems strange to me as they already have all my identity info, so I can’t see what the problem would be with paying with a card that’s not associated with my identity. Thanks in advance for any advice!</p> </div><!-- SC_ON --> Kind Regards R