The Bitcoin firm BitGold, which is a Canadian international savings and payments service, that enables individuals and businesses to transact with physical gold, has announced that it has successfully created a direct link with nine of America’s biggest banks.
The firm also announced that it has successfully activated a “secure and direct link through a proprietary authorization with Chase, Bank of America, Wells Fargo, Citi, US Bank, USAA, Fidelity, Charles Schwab, Capital One and even American Express” which enables a user to verify his identity and authorize his account to purchase or redeem gold or to settle them back directly to his bank account.
This feature is unlike the traditional Automated Clearing House (ACH) confirmations, and the Bitcoin firm also quipped that the updates it has made are the product of listening to consumer feedbacks.
Now the Bitcoin firm users who have accounts at these American institutions can quickly authorize deposits into their BitGold vaults and redeem them back into their linked Bank Account. Such a scenario is bound to make the transactions faster, more secure, and affordable.
Headquartered in Toronto, this Bitcoin company brings together two of the most diverse markets at present, namely gold and the Bitcoin.
Linking an ACH account is a fine alternative to a more traditional bank wire or a credit card option. Here are some of the benefits:
- Reduced hassle and no paperwork.
- Control and visibility as ACH transactions are easily tracked and recorded between BitGold and a consumer’s financial Institution.
- No minimums.
For a user to link his account with ACH he can do so by following the steps below:
- First login to the BitGold account.
- In the option “Settings” click on open the Bank Accounts section.
3. Next, click on the option “link ACH Bank account.”
4. Now simply select the bank and click on “login to link your account” and the job is done!