Banks are Pigs - page 4. | Bitcointalksearch.org

NUFCrichard

legendary

Activity: 1218

Merit: 1003

Quote from: Joohansson on March 06, 2015, 01:43:21 AM

I'm about to pay an invoice for a domain. It cost $10/ year but the bank take $7.5 in transfer fee.
75% in fee Huh

That is ridiculous and this is why Bitcoin will succeed in the long run.

I know they aren't popular in the bitcoin world, but Paypal would be an easy option.
Lots of companies use Paypal to transfer small amounts of money around because, as you say, bank transfers are really expensive.

ABitNut

hero member

Activity: 764

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I'm a cynic, I'm a quaint

Quote from: Joohansson on March 06, 2015, 02:17:32 AM

Sweden is not part of Euro, we have our own currency. Can I demand to pay in euros or how does that work?

First of all, smart move of Sweden not to adopt the euro. Count your blessings ;-)

You can ask the provider if you can pay in euros. Since they're a Denmark based company they shouldn't have a problem with that. Then it's just up to you on instructing your bank to make a euro payment. They'd still charge you for converting Swedish currency to euro currency though.

Your bank is basically laughing its ass off with the "International payments in currencies other than the euro" clause and probably encouraging everyone to make payments to euro countries in $. Or anything other than euros. So you'll have to try and make the payment euro by having a local bank convert the currency into euro, and then transferring the euros. Good luck on trying to pull it off. If you manage it, make sure you share the info somewhere for all your fellow Swedes / Swedish residents to use as well. Screw ridiculous rates.

bitbunnny

legendary

Activity: 2912

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WOLF.BET - Provably Fair Crypto Casino

Banks are legal thieves and have no mercy, just looking for a profit, we all know that

Joohansson

full member

Activity: 212

Merit: 102

Quote from: ABitNut on March 06, 2015, 02:08:15 AM

Quote from: Joohansson on March 06, 2015, 02:03:04 AM

Quote from: ABitNut on March 06, 2015, 01:53:49 AM

Quote from: Joohansson on March 06, 2015, 01:43:21 AM

I'm about to pay an invoice for a domain. It cost $10/ year but the bank take $7.5 in transfer fee.
75% in fee Huh

That is ridiculous and this is why Bitcoin will succeed in the long run.

75% fee sounds ridiculous. However this is probably an international payment involving SWIFT and some very cumbersome processes for both the sending and receiving bank. Based on that they can probably defend the fee, since it covers their cost.

Have you tried offering your provider to pay, say... $12.50 worth of BTC directly? That's sounds like a win/win to me. Banks (pretend to) struggle with international payments. Bitcoin does it easily.

Yeah, the provider is based in Denmark and i live i Sweden. I offered them Bitcoins via support mail, have not got any response yet. I´ve been using that provider for 10 years, I´ve never seen this fee before though.

Last I knew Denmark and Sweden are both in the EU. In that case European rules apply:

Quote

For international payments in euros within the EU, banks should charge you no more than they would for a national transaction of the same value in euros.
This rule applies to all electronically processed payments in euros, including:

transfers between bank accounts in different EU countries
withdrawals from cash machines/ATMs in EU countries
payments by debit or credit card across the EU
direct debit transactions
money remittances.
International payments in currencies other than the euro are not subject to these provisions.

See http://europa.eu/youreurope/citizens/shopping/banking/day-to-day-banking/index_en.htm and make sure you're paying in euros. If so, then you've got your bank by the balls. Make sure you copy all the official papers that shows they're charging you this outrageous amount and that it's most definitely not the same amount as they charge for a national transaction. Then tell them to process your payment according to the law *and* file a complaint.

Cheers.

Sweden is not part of Euro, we have our own currency. Can I demand to pay in euros or how does that work?

Amph

legendary

Activity: 3248

Merit: 1070

well, we all know that bank are the biggest legal thieves

for this reason i'll not cash out my btc, until i can buy directly everything with them(and the price will be good by that time fortunately)

ABitNut

hero member

Activity: 764

Merit: 500

I'm a cynic, I'm a quaint

Quote from: Joohansson on March 06, 2015, 02:03:04 AM

Quote from: ABitNut on March 06, 2015, 01:53:49 AM

Quote from: Joohansson on March 06, 2015, 01:43:21 AM

I'm about to pay an invoice for a domain. It cost $10/ year but the bank take $7.5 in transfer fee.
75% in fee Huh

That is ridiculous and this is why Bitcoin will succeed in the long run.

75% fee sounds ridiculous. However this is probably an international payment involving SWIFT and some very cumbersome processes for both the sending and receiving bank. Based on that they can probably defend the fee, since it covers their cost.

Have you tried offering your provider to pay, say... $12.50 worth of BTC directly? That's sounds like a win/win to me. Banks (pretend to) struggle with international payments. Bitcoin does it easily.

Yeah, the provider is based in Denmark and i live i Sweden. I offered them Bitcoins via support mail, have not got any response yet. I´ve been using that provider for 10 years, I´ve never seen this fee before though.

Last I knew Denmark and Sweden are both in the EU. In that case European rules apply:

Quote

For international payments in euros within the EU, banks should charge you no more than they would for a national transaction of the same value in euros.
This rule applies to all electronically processed payments in euros, including:

transfers between bank accounts in different EU countries
withdrawals from cash machines/ATMs in EU countries
payments by debit or credit card across the EU
direct debit transactions
money remittances.
International payments in currencies other than the euro are not subject to these provisions.

See http://europa.eu/youreurope/citizens/shopping/banking/day-to-day-banking/index_en.htm and make sure you're paying in euros. If so, then you've got your bank by the balls. Make sure you copy all the official papers that shows they're charging you this outrageous amount and that it's most definitely not the same amount as they charge for a national transaction. Then tell them to process your payment according to the law *and* file a complaint.

Cheers.

Joohansson

full member

Activity: 212

Merit: 102

Quote from: ABitNut on March 06, 2015, 01:53:49 AM

Quote from: Joohansson on March 06, 2015, 01:43:21 AM

I'm about to pay an invoice for a domain. It cost $10/ year but the bank take $7.5 in transfer fee.
75% in fee Huh

That is ridiculous and this is why Bitcoin will succeed in the long run.

75% fee sounds ridiculous. However this is probably an international payment involving SWIFT and some very cumbersome processes for both the sending and receiving bank. Based on that they can probably defend the fee, since it covers their cost.

Have you tried offering your provider to pay, say... $12.50 worth of BTC directly? That's sounds like a win/win to me. Banks (pretend to) struggle with international payments. Bitcoin does it easily.

Yeah, the provider is based in Denmark and i live i Sweden. I offered them Bitcoins via support mail, have not got any response yet. I´ve been using that provider for 10 years, I´ve never seen this fee before though.

erre

legendary

Activity: 1680

Merit: 1205

Just use bitcoins

To avoid international fees, you can also transfer bitcoin to someone living in the same country and make him pay

ABitNut

hero member

Activity: 764

Merit: 500

I'm a cynic, I'm a quaint

Quote from: Joohansson on March 06, 2015, 01:43:21 AM

I'm about to pay an invoice for a domain. It cost $10/ year but the bank take $7.5 in transfer fee.
75% in fee Huh

That is ridiculous and this is why Bitcoin will succeed in the long run.

75% fee sounds ridiculous. However this is probably an international payment involving SWIFT and some very cumbersome processes for both the sending and receiving bank. Based on that they can probably defend the fee, since it covers their cost.

Have you tried offering your provider to pay, say... $12.50 worth of BTC directly? That's sounds like a win/win to me. Banks (pretend to) struggle with international payments. Bitcoin does it easily.

Joohansson

full member

Activity: 212

Merit: 102

I'm about to pay an invoice for a domain. It cost $10/ year but the bank take $7.5 in transfer fee.
75% in fee Huh

That is ridiculous and this is why Bitcoin will succeed in the long run.

Topic: Banks are Pigs - page 4. (Read 3322 times)