Difference between revisions of "LocalTill"

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(Change to past-tense as shuttered along with BitFloor.)
 
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'''LocalTill''' is an anonymous merchant cash processing service that authenticates deposits based on a unique code embedded in last digits of the deposit by adding a variable fee between 1% and 4%.
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[[File:Bank of America deposit to LocalTill.jpg|320px|thumb|right|Bank of America customer receipt for LocalTill cash deposit]]
  
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. No personal data is requested of the user who makes the deposit.
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'''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 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. No identification is required. Bank of America tellers may ask for a phone number "for reference", which is actuality never used.
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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.  
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==Anonymity==
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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.

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.