Gemini.com offers free money wires for USD withdraws & deposits... sweet :P

BayAreaCoins

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Quote from: LeoFirefly on January 07, 2018, 01:44:32 AM

Hi,

Yes, I thought so too and checked. But my Bank received only $93, which means some bank used by Gemini made a charge which is not visible to me or my bank as my account got only 93, and then on top of that my bank put the charges. I was expecting to receive 100 and then its ok what my bank charges, as i can atleast see that as a separate transaction for the charges and can also talk to my bank to waive it etc.

Quote from: Quickseller on January 07, 2018, 01:39:19 AM

Gemini doesn’t change anything for wire withdrawals. The fees are likely that of your bank.

Lots of banks charge a receiving fee for money wires.

I would imagine that is what you had happened and in a few days you'll receive a deposit slip from the bank in the mail.

I believe my small town Arkansas bank charges $5... if you get a "real" bank account, then they don't nickle and dime you for fees related to wires. (US Bank and such as I recall)

LeoFirefly

newbie

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Hi,

Yes, I thought so too and checked. But my Bank received only $93, which means some bank used by Gemini made a charge which is not visible to me or my bank as my account got only 93, and then on top of that my bank put the charges. I was expecting to receive 100 and then its ok what my bank charges, as i can atleast see that as a separate transaction for the charges and can also talk to my bank to waive it etc.

Quote from: Quickseller on January 07, 2018, 01:39:19 AM

Gemini doesn’t change anything for wire withdrawals. The fees are likely that of your bank.

Quickseller

copper member

Activity: 2996

Merit: 2374

Gemini doesn’t change anything for wire withdrawals. The fees are likely that of your bank.

LeoFirefly

newbie

Activity: 21

Merit: 0

Gemini doesn't charge a fee, but to do a test, I withdrew USD $100

My Bank received only USD 93, and after receiving the amount it charged me a additional USD 7 as incoming wire fees.
So net I received only USD 84 on a USD 100 withdrawal.

So there were two fees
1. By Gemini's intermediary bank or the bank used to wire the money over via SWIFT (Question: Does anyone know what's slabs for bank used by Gemini for intl wire)
2. By my Bank which is $7 fixed fee for any amount

Does anyone know what are the wire charges slabs, is it fixed fee or depends on the amount. The fee's of USD 7 charged by the Gemini bank's intermediary, is that going to be the same say If i want to transfer 5000 or higher amount etc.

Has anyone tried to withdraw over ten thousand to a USD bank account outside of the United states ?

BayAreaCoins

legendary

Activity: 4004

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Owner at AltQuick.com

Quote from: Quickseller on April 19, 2016, 11:27:08 PM

Most banks will charge a fee to send a wire transfer regardless of your deposit relationship (even if you have the super special checking account with a 5-6 figure average total deposit relationship), however they will often waive incoming wire fees if you have a large enough of a deposit relationship.

I was very surprised to learn that coinbase charges $10 just to process a wire, and not only that, they set a hard limit of $10,000 per day for ACH deposits, both of which I think is BS.

Another great feature about gemini is that they allow you to start trading with your ACH deposit immediately, so there is no need to have to wait a week to buy bitcoin after you initiated the transfer, although the limit is only $500 per day.

Coinbase charges $10 to process a wire?!

Jesus my small town bank only charges $5.

Gemini is the first place I've ever seen to offer free wire withdraws.

I like the fact I can trade my ACH deposit same day. I did run into something strange doing that though. I had $1,000 in BTC and $500 pending fiat... I wasn't allowed to withdraw any of the BTC until I waited out the $500 deposit or liquidated $500 of BTC. I kinda figured I'd be able to withdraw $500 of the BTC leaving the other $500 for the pending stuff, but I guess they want to be careful with the volatility of BTC... which is understandable.

I've been nothing but impressed with Gemini. If they'd make a few tweaks here and there + fix some of their marketing errors... they'd be the #1 exchange in the USA no problem.

Quickseller

copper member

Activity: 2996

Merit: 2374

Most banks will charge a fee to send a wire transfer regardless of your deposit relationship (even if you have the super special checking account with a 5-6 figure average total deposit relationship), however they will often waive incoming wire fees if you have a large enough of a deposit relationship.

I was very surprised to learn that coinbase charges $10 just to process a wire, and not only that, they set a hard limit of $10,000 per day for ACH deposits, both of which I think is BS.

Another great feature about gemini is that they allow you to start trading with your ACH deposit immediately, so there is no need to have to wait a week to buy bitcoin after you initiated the transfer, although the limit is only $500 per day.

BayAreaCoins

legendary

Activity: 4004

Merit: 1250

Owner at AltQuick.com

Quote from: ?? on ??

Quote from: BayAreaCoins on April 19, 2016, 10:14:06 PM

I'm kind of cheap when it comes to banking and I just found out tonight that www.Gemini.com offers free wire withdraws Cheesy

.

My bank charges $17 sending and $5 receiving.

Gemini charges $0 sending and $0 receiving.

Good shit IMO Grin

.

Fuck Coinbase... get Gemini.

I need bitcoins. Want to trade $100 of my PayPal for $100 of your bitcoin?

Negative ghost rider!

I only do my PP for BTC 99.99% of the time.

I strongly recommend getting a Paypal 1% back debit card and then linking that bad boy into Circle.com.

Circle sent me a nosy email the other day wondering what my occupation and such was.

BayAreaCoins

legendary

Activity: 4004

Merit: 1250

Owner at AltQuick.com

I'm kind of cheap when it comes to banking and I just found out tonight that www.Gemini.com offers free wire withdraws Cheesy

.

My bank charges $17 sending and $5 receiving.

Gemini charges $0 sending and $0 receiving.

Good shit IMO Grin

.

Fuck Coinbase... get Gemini.

Topic: Gemini.com offers free money wires for USD withdraws & deposits... sweet :P (Read 3563 times)