Fold has been reporting on their Discord that many users are having issues using PayPal bill pay over the past week. I paid my cable bill this morning without issue. Though many are reporting being unable to pay credit card and mortgage bills.
If this goes away, I don't think it would be worth it for me to continue to use Fold. We'll see.
Thanks Derek, and I agree. Paying bills over fold are the bulk of my sat rewards on the platform…..
They completely shutdown and blocked my account; this happened when I asked to withdraw my rewards. They told me I would not be given any reason for my account being closed. And that was it. I was a diehard Fold fan…but I was a fool to trust em’. Oh well 🤷
Damn. Have you had issues with any other Prime Trust Bitcoin sources like strike or swan?
Do you remember LvL? I had a similar issue with LvL but after their “pause” they reopened my account….then closed down as a company maybe 2 months later
No I’ve never really heard about them!
They were challenger bank; offered card and connected debit card account as well as custody and trade of the “standard” three digital assets.
Also offered (and I used) their premium membership. For I think it was 10 American Chuckie cheese dollars you got “market maker functionality” basically a trader bot you funded and it made you “yield” off arbitrage trades depending on what you loaded the bot with. You could even mix and have it do USD and BTC.
All very cool. But also I would assume highly unregulated
wow... wtf? i wonder if you had your Prime Trust account closed because you live in South Dakota?
Negative. I’m a little south of Dakotas. I still have all the email exchanges too…I was (and still am) salty about it
You should be. That’s some bs
Right!? Wht gets me is the “we can’t give you any more information other than it is closed for good; this is for our safety”. Ok cool…but what about me, the customers, safety? Like is this a potential threat to MY financial safety? I’d say it is by default but I guess I’ll just have to live with that nebulous threat…forever 🤷
Most likely I think is me using the card at my employed place of business. I’m pretty sure companies that offer rewards don’t like their services used at a place where the user has access to the financial side of things in anyway. Does not matter if the user never abuses such a relationship, the potential is enough for them to terminate an agreement. The SHADY part comes when you consider that PT should not have access to that information let alone make closures or account altering decisions based on such private data. This is the foundation of my most likely theory.
Capital controls are starting. Attempting to slow the exits.
Already happened in 🇬🇧 with exchanges via banks. Expect more of this type of news in 🇺🇸 & 🇪🇺
Time to stack some more corn
I deposited some USD in Paxos and I had to go through a long AML process in which they asked for a lot of documentation and took a few weeks in total. I've used Paxos in the past and sometimes they asked for documentation but it was never like this. Maybe this is capital controls?
This is what’s happening. I tried to pay mortgage again and it failed.
I can pay the run of the mill bills but not the mortgage and CC.
However… I’m going to try and pay mortgage by calling mortgage company.
Also, I know I can pay credit card by calling CC company and going direct with FOLD card. I’ve done it in the past. 😜
Well played sir
I guess they’re wising up to the BTC rewards on cc payments. I’d bet the cc company is covering some hefty fees and they don’t want any part of it
If I have to pay all of my bills next month by calling them or adding the Fold routing numbers, then I'll be done with Fold altogether.
There’s a lot like you. It’s pretty brutal.
The rewards have slipped and then this…
I used to be able to get 3-4% on large bills if I hoarded my spins. Okay, I get that, it's not sustainable. I didn't mind working hard to play the system just right, time my bills, and get 2% back. But now it's a god damn hassle to even get that! The rewards just are not as good as you said. I'd rather spend that time and energy on Nostr. Zaps are better.
This is why I switched to the tiered guaranteed rewards on the Gemini CC
I’m in NO WAY touting the Gemini card as the answer, it just was better for me than the irritation building up with Fold.
Just adding my experience to the convo
Don’t you need 100 BTC to get in on Gemini?
CLEARLY NIT 🤣😂🤣
NOT 🤦🏻♂️
😅 I don’t know where I heard that from then
Trust, Don’t Verify 😂
😂 when I heard about it I was like: hope those people mentioning being a client have a good team of bodyguards 🤣
I use Gemini CC for gas because it's 10% back in bitcoin and you can't beat that anywhere.
That is pretty amazing indeed but they are very limited I believe - us only AFAIK
Juicy cashback regardless
The guaranteed 3% back for restaurants always encourages me to buy more expensive dinners…which I enjoy…but are counterproductive to the end goal!
🤣
I firmly believe that the Gemini (and blockcard RIP) card are major life hacks. I love how Gemini converts automatically. I pay everything I can on it (gas, food, etc) and withdraw the sats every week.
Exactly what I do
Amazing i need to look into this
Why is nobody talking about this.
Use promo code DRoss for an additional 10% off 🤣
😂😂
The 10% back on fuel is limited to $200/month but resets every month for 12 months
Best deal I’ve gotten in Bitcoin rewards across BlockFi, Fold, Coinbase, or Gemini. And it’s guaranteed! No Spin required!!!
You could at least shill my Gemini affiliate link. 👀
Rugged again. 😂
