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smithers

FlashFX allows to send funds from Australia to Bitstamp in minutes

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Allegedly one can send funds from Australia (AUD) to Bitstamp (USD) in minutes.

 

Step 1: send funds from Australian FI to FlashFX account instantly, using New Payments Platform (NPP) 

link: https://help.flash-fx.com/en/articles/2963836-what-is-the-fast-new-payments-platform-npp

 

Step 2: transfer funds from your FlashFX account to Bitstamp (actually the description in the following link includes also the "step 1" above)

link: https://help.flash-fx.com/en/articles/1151535-transfer-money-to-bitstamp-with-flashfx

 

one more link: https://mailchi.mp/flash-fx/flashfx-fund-your-bitstamp-usd-account-in-minutes (source says the transfer uses ODL)

 

Disclaimer: I have not tried it and I am not from Australia, so probably I am not going to try it. So I have no idea, if and how this would actually work.

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6 hours ago, smithers said:

Disclaimer: I have not tried it and I am not from Australia, so probably I am not going to try it. So I have no idea, if and how this would actually work.

I have a friend you uses it to send money from their bank account to FlashFX and then FlashFX to their Bitstamp account - that was over a year ago and it worked then. The only thing that has changed is that the Australian banks now have instant settlement for bank-bank transfers so the overall process is a bit faster.

Although the service is very handy for Bitstamp account holders in Australia, I've written off FlashFX because they refused me an account despite me having provided them full KYC materials. Apparently, they didn't like me checking if they were a scam or not when they started up (perhaps they think it's normal to wantonly send your KYC details and cash to an unknown, untested business).

The FlashFX team is extremely small and the whole operation is basically run by their CEO. Including, from time to time, the webchat! :biggrin:

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1 hour ago, Pablo said:

The only thing that has changed is that the Australian banks now have instant settlement for bank-bank transfers so the overall process is a bit faster.

I don’t think that is correct.  In the past they used to use a Nostro account which meant they occasionally ran out of funds at the exchange.  Now they use OnDemandLiquidity so they won’t ever have to say sorry the service is not available till Tuesday.

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