the banking thread

[roguejuror]

bank discussion

today is the first time i see a bank charging a % of amount transfer. gtfo.

 

[rito]

what kind of transfer? international?

 

[roguejuror]

yeah international, $45 +5%

 

[rito]

5% is absurd. Who does that. So it costs $5,045 to wire $100k? No way people are paying that.

Colombian banks do this on incoming transfers. If you don't negotiate ahead of time, and get it in writing, they will rape you.

 

[plommer]

You're a pauper now.

 

[roguejuror]

a central american bank is doing that

yeah on incoming you have to arrange a fixed structure

$15 0-1000
$30 1k-5k
$45 5k-10k

and such for example

 

[Cami]

My parents kept their US bank and I guess transfer money that way or something. Every time she sends me money, it's either via something like western union or a check.

 

[vagabond]

RJ, is it USD to USD transfer? Fees as a % of amount does not make sense unless it involves currency conversion. Even then 5% is high.

 

[kato]

pesky

 

[FreeFall]

bitcoin

 

[Cami]

Lets face, greed is continuing to grow. It's not just about covering their costs/overhead, it's about maximizing their profit, and they will use the customer to do so. bastard companies.

 

[roguejuror]

RJ, is it USD to USD transfer? Fees as a % of amount does not make sense unless it involves currency conversion. Even then 5% is high.

yes same currency no conversion involved

 

[Matty]

bitcoin

also charges a % of transfer amount

admittedly small

 

[Mudcat]

Those banks are something else, I tell you wut.


:justwantedtoparticipate:

 

[FreeFall]

also charges a % of transfer amount

admittedly small

small isn't even a fair statement.

Technically you can make transactions and pay 0 fees but it may take up to an hour for a miner to bother with your block/transaction. Fair enough freefall stop being a technical prick.

In retrospect I sent 100BTC today for a fee of .0001. My transaction took 10 minutes to happen. At current rates of 117USD/1BTC I paid ~$0.02 dollars for this to happen. Calling that small isn't even fair. Insignificant is closer to the right word, but even then this amount is so miniscule I wouldn't even think twice about it.

 

[plommer]

yeah international, $45 +5%

International USD wires to a bank in Canada are $10 at most banks ($15 at RBC) if the incoming amount is greater than $50.

 

[Gilmartin]

http://www.lloydstsb-offshore.com/international-current-accounts/ has free wires, in and out. You have to make at least 50K per year, or be able to deposit 25K, though, in order to open an account.