JUST TRANSFERED 20K USD AND BANK CHARGED ME $700 !!!! - page 3.

Juggy777

hero member

Activity: 2646

Merit: 686

Quote from: globe-biz on March 26, 2018, 08:21:37 PM

This is why we need bitcoin. I am soo sick of these central bank mafia scum controlling our finances.!!!

I just did a international wire transfer and the banks cuased me to loose $700 because of how the make a huge 3% margin with the conversion of the money from one country currency to another.Imagine those bankers sitting there in their Jacuzzis relaxing while their computers move money getting $700 or much more from all the people who send money.
D@mn mafia!!
What would you do with $700 for free??

These banks are building the own destruction by robbing people like that.It is very arrogant they should be in jail for theft and fraud.
This is why we need bitcoin!! If I used the ightning network I could have done the transaction for some pennies!

This is horrible mate, have you checked the terms if it's possible that you were overcharged which I feel is the case. Obviously bitcoins would have helped you a lot, it's sad that it's not allowed to do it officially. It's only a matter of time before people realise that bitcoins can help them tremendously.

Crypdon

member

Activity: 616

Merit: 11

This is why banks hate crypto and are trying to FUD it to the floor. If we take control of our own finances and send coins instantly for a low fee, no-one would use their extortionate bank services any more and they will have to cash in their lambos for micras

SirTradeX

newbie

Activity: 50

Merit: 0

Quote from: globe-biz on March 26, 2018, 08:21:37 PM

This is why we need bitcoin. I am soo sick of these central bank mafia scum controlling our finances.!!!

I just did a international wire transfer and the banks cuased me to loose $700 because of how the make a huge 3% margin with the conversion of the money from one country currency to another.Imagine those bankers sitting there in their Jacuzzis relaxing while their computers move money getting $700 or much more from all the people who send money.
D@mn mafia!!
What would you do with $700 for free??

These banks are building the own destruction by robbing people like that.It is very arrogant they should be in jail for theft and fraud.
This is why we need bitcoin!! If I used the ightning network I could have done the transaction for some pennies!

This is exacly how the system wants it. They help rich people get richer and all low and middle class exacly where we are. This is exacly why I wish we will keep our decentralised currencies. I am trully sorry about you leraning this the hard way... This decentralisation is a first glace of our freedom in a very long time and I hope it says like that.

BR

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

I once asked a banker friend of mine why these banks charge an exorbitant amount of fee whenever someone wants to send money from point A to B. His answer? It's fast, reliable and there's nothing better around to do transfers just like what banks do. Then I asked him, if wire transfers are the 'ideal' way to send money to someone over distant places, then why do money remittance centers exist? He didn't know the answer, yet tried to change the topic at that moment. You see, in this time and age, there are lots of alternatives that could save you money without losing--or better yet, improving--the quality of service you'll be receiving. Remittance centers and bitcoins are great alternatives, and you aren't losing security, effuciency and reliability either, but you can save a lot of money. Why people still allow banks to scam them and complain is beyond me.

coin_maker

newbie

Activity: 238

Merit: 0

Actually, banks are bound to do so to survive. I am feeling sorry hearing the loss of $700. And I think, people should grab cryptocurrencies and adopt with blockchain technology that reduce human works and unwanted bank charges also.

chennan

legendary

Activity: 1316

Merit: 1004

Quote from: Oasisman on March 27, 2018, 08:47:09 AM

This kind of banking issue is never new. Youre right about how Bitcoin was created. To eliminate the traditional banking system and its greediness. It was created for us to have a financial freedom, free from ridiculous high transaction fees. But its sad to say that we cant get rid of it, since the bank is part of our system financially.

The fact that we can't "get rid of it" is an interesting one that relates a lot to economics. Here's an article from 2014 that proposes problems of a deflationary currency like Bitcoin that you can see why we would somewhat "need"? banks and other regulatory oversight in the economy:

https://www.economist.com/blogs/freeexchange/2014/04/money

Here they pose questions about how you would deal with increasing populations & wages, etc.

chennan

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Activity: 1316

Merit: 1004

Quote from: eternalgloom on March 27, 2018, 07:22:40 AM

Quote from: gentlemand on March 26, 2018, 09:54:24 PM

Quote from: chennan on March 26, 2018, 09:50:37 PM

I have noticed this too actually. I mean, how long did it take for the security chips to make it on the credit/debit cards and for stores to actually accept them? It took the longest time ever. And not only that but people where bitching the whole time too because it was a minor inconvenience to be told that you have to insert the chip rather than swipe.

Things are always slower in terms of progress here in the good ole US. Sad

It's a total disgrace. And when you realise how pathetic bank transfers there are and how much ATM use costs you also realise that BTC serves a useful purpose that simply isn't called for in Europe.

In the EU there's masses and masses of innovation when it comes to banking. It's getting faster and more convenient all the time. It's still built on the same old crud of course but at least they attempt to be convenient.

Yeah I can't really complain about banking here in my country (Belgium), with SEPA it's just cheap and easy to send payments to any country in Europe.
Also banking + bitcoin is pretty well developed here too. I can just go to a Dutch exchange (Bitonic), pay with my debit card and receive Bitcoins instantly, without any transfer costs.

Same for cashing out Bitcoins, I can send my Bitcoin to a Dutch exchange and have the money on my bank account the same day.

On an even brighter note, there are always better ways coming out in terms of enabling on and off ramps of fiat to BTC and vise versa. Take a look at localbitcoin.com or bisq.io for ways to deal without a centralized exchange service and give it a go a couple of times to get used to it. I believe it is really important to get acclimated now as opposed to later because I feel as time goes on there will be more and more incentive to do only P2P transactions to avoid regulations nations might force on its citizens.

metenjean

full member

Activity: 854

Merit: 140

Quote from: gentlemand on March 27, 2018, 07:02:55 AM

Quote from: metenjean on March 27, 2018, 05:38:30 AM

Its the same here in South east asia and everything was slow if you're talking about financial transaction. It could take days to do local transaction with different bank if your transaction nominal is more than $10k. Not to mention the international transactions can take longer than that and also we're talking about conversion rate of each currencies. Here you even get to choose if you want to do faster transaction, then you can use another financial transactions with "additional fees".

Once you go properly international everything seems to stop. Getting money from the UK to the US can sometimes take weeks and cost $50-$100. If it was somewhere like Java or Tajikistan I can't imagine how sluggish that can be.

That's why I presume the people who are sceptical about Bitcoin's possibilities never have to deal with getting money across borders. It's truly like night and day compared to banking.

Your only option in many cases is quasi Hawala like Western Union and that simply won't work for significant amounts.

Indeed, sometimes transfering money across countries can take weeks and compared to bitcoin it only a matter of hours. I used western union before but i think it roughly the same only a slightly faster and it cost more than banking also i'm not reliant giving a high amount of money using western union for transactions.

Oasisman

hero member

Activity: 2716

Merit: 552

This kind of banking issue is never new. Youre right about how Bitcoin was created. To eliminate the traditional banking system and its greediness. It was created for us to have a financial freedom, free from ridiculous high transaction fees. But its sad to say that we cant get rid of it, since the bank is part of our system financially.

aioc

hero member

Activity: 2926

Merit: 567

This is indeed very annoying and this is one of the reasons why people prepare storing their cash or wealth to cryptocurrency and precious metal if this do not change and the emerging market on cryptocurrency, we will soon see less people using bank transactions.

Sexie

member

Activity: 420

Merit: 10

Quote from: globe-biz on March 26, 2018, 08:21:37 PM

This is why we need bitcoin. I am soo sick of these central bank mafia scum controlling our finances.!!!

I just did a international wire transfer and the banks cuased me to loose $700 because of how the make a huge 3% margin with the conversion of the money from one country currency to another.Imagine those bankers sitting there in their Jacuzzis relaxing while their computers move money getting $700 or much more from all the people who send money.
D@mn mafia!!
What would you do with $700 for free??

These banks are building the own destruction by robbing people like that.It is very arrogant they should be in jail for theft and fraud.
This is why we need bitcoin!! If I used the ightning network I could have done the transaction for some pennies!

Some banks also collecting too much fees, they will collect fees by thousands. Some banks do not collect more than fees, it is fix charges, even how much you will send to other person. Even when you deposit your money into tha banks if you do not maintain the minimum balance , they will deduct again your deposits . But when you maintain your minimum deposit, the interest is just very small 1 percent. So the banks is only to save your money there with maintaining balance with small interest. Not like in bitcoin, less fees, no deductions and no third party.

ManaMan

member

Activity: 238

Merit: 38

Quote from: globe-biz on March 26, 2018, 08:21:37 PM

This is why we need bitcoin. I am soo sick of these central bank mafia scum controlling our finances.!!!

I just did a international wire transfer and the banks cuased me to loose $700 because of how the make a huge 3% margin with the conversion of the money from one country currency to another.Imagine those bankers sitting there in their Jacuzzis relaxing while their computers move money getting

They don't care since you got to go through them to use your fiat, you have to have bank account to send and receive money to and from other people. As not many are even willing to pay you by cash. Banks were made with purpose and have been comfortable and still are, when cryptocurrencies get mainstream and they are slowly going unnoticed then we will hurt them bad.

Ravenangel

member

Activity: 448

Merit: 10

Just another reason as to why cryptocurrency should be embraced, with the speed of the blockchain technology, such slug is never experienced, and if there is a delay it cant be as long as the banking system, with BTC the transaction speed will be faster and far cheaper

eternalgloom

legendary

Activity: 1792

Merit: 1283

Quote from: gentlemand on March 26, 2018, 09:54:24 PM

Quote from: chennan on March 26, 2018, 09:50:37 PM

I have noticed this too actually. I mean, how long did it take for the security chips to make it on the credit/debit cards and for stores to actually accept them? It took the longest time ever. And not only that but people where bitching the whole time too because it was a minor inconvenience to be told that you have to insert the chip rather than swipe.

Things are always slower in terms of progress here in the good ole US. Sad

It's a total disgrace. And when you realise how pathetic bank transfers there are and how much ATM use costs you also realise that BTC serves a useful purpose that simply isn't called for in Europe.

In the EU there's masses and masses of innovation when it comes to banking. It's getting faster and more convenient all the time. It's still built on the same old crud of course but at least they attempt to be convenient.

Yeah I can't really complain about banking here in my country (Belgium), with SEPA it's just cheap and easy to send payments to any country in Europe.
Also banking + bitcoin is pretty well developed here too. I can just go to a Dutch exchange (Bitonic), pay with my debit card and receive Bitcoins instantly, without any transfer costs.

Same for cashing out Bitcoins, I can send my Bitcoin to a Dutch exchange and have the money on my bank account the same day.

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

Quote from: metenjean on March 27, 2018, 05:38:30 AM

Its the same here in South east asia and everything was slow if you're talking about financial transaction. It could take days to do local transaction with different bank if your transaction nominal is more than $10k. Not to mention the international transactions can take longer than that and also we're talking about conversion rate of each currencies. Here you even get to choose if you want to do faster transaction, then you can use another financial transactions with "additional fees".

Once you go properly international everything seems to stop. Getting money from the UK to the US can sometimes take weeks and cost $50-$100. If it was somewhere like Java or Tajikistan I can't imagine how sluggish that can be.

That's why I presume the people who are sceptical about Bitcoin's possibilities never have to deal with getting money across borders. It's truly like night and day compared to banking.

Your only option in many cases is quasi Hawala like Western Union and that simply won't work for significant amounts.

Pan Troglodytes

member

Activity: 392

Merit: 39

Maybe it would make sense to investigate it some more and maybe rise a complaint? Maybe there was some error on the side of your bank or this other bank? It seems the fee was really drastically high.

metenjean

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Merit: 140

Quote from: gentlemand on March 26, 2018, 09:26:37 PM

Is that in the US?

I've noticed that American banking is stuck somewhere in the 19th century compared to Europe where everything is fresh, shiny and often free.

Or it could be anywhere else other than the EU. We're rather lucky with all the tech tossers throwing new types of banking at us all the time.

Its the same here in South east asia and everything was slow if you're talking about financial transaction. It could take days to do local transaction with different bank if your transaction nominal is more than $10k. Not to mention the international transactions can take longer than that and also we're talking about conversion rate of each currencies. Here you even get to choose if you want to do faster transaction, then you can use another financial transactions with "additional fees".

chennan

legendary

Activity: 1316

Merit: 1004

Quote from: gentlemand on March 26, 2018, 09:54:24 PM

Quote from: chennan on March 26, 2018, 09:50:37 PM

I have noticed this too actually. I mean, how long did it take for the security chips to make it on the credit/debit cards and for stores to actually accept them? It took the longest time ever. And not only that but people where bitching the whole time too because it was a minor inconvenience to be told that you have to insert the chip rather than swipe.

Things are always slower in terms of progress here in the good ole US. Sad

It's a total disgrace. And when you realise how pathetic bank transfers there are and how much ATM use costs you also realise that BTC serves a useful purpose that simply isn't called for in Europe.

In the EU there's masses and masses of innovation when it comes to banking. It's getting faster and more convenient all the time. It's still built on the same old crud of course but at least they attempt to be convenient.

I understand the point and benefits of helping people bank in a more convenient way, but not only that but using Bitcoin would be way more secure than a bank if you are thinking about it in both being a retailer being paid in Bitcoin or just someone sending money across the pond... not to mention much cheaper.

I think the banks have already gotten the hint that Bitcoin is the way to go, hell... they are already putting in tons of money for their own "blockchain research". It'll be soon when they have to realize that they have to rely on the sheer numbers of hash power that Bitcoin has in order to transact in a secure way.

juiceannabel

newbie

Activity: 224

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Quote from: globe-biz on March 26, 2018, 08:21:37 PM

This is why we need bitcoin. I am soo sick of these central bank mafia scum controlling our finances.!!!

I just did a international wire transfer and the banks cuased me to loose $700 because of how the make a huge 3% margin with the conversion of the money from one country currency to another.Imagine those bankers sitting there in their Jacuzzis relaxing while their computers move money getting $700 or much more from all the people who send money.
D@mn mafia!!
What would you do with $700 for free??

These banks are building the own destruction by robbing people like that.It is very arrogant they should be in jail for theft and fraud.
This is why we need bitcoin!! If I used the ightning network I could have done the transaction for some pennies!

What the hell mate ? There is something wrong with that bank obviously!
Why can the fee so high? Bank system sucks.
Bitcoin and cryptocurrency are the best choice for us. no bank system can control bitcoin and crypto.

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

Quote from: chennan on March 26, 2018, 09:50:37 PM

I have noticed this too actually. I mean, how long did it take for the security chips to make it on the credit/debit cards and for stores to actually accept them? It took the longest time ever. And not only that but people where bitching the whole time too because it was a minor inconvenience to be told that you have to insert the chip rather than swipe.

Things are always slower in terms of progress here in the good ole US. Sad

It's a total disgrace. And when you realise how pathetic bank transfers there are and how much ATM use costs you also realise that BTC serves a useful purpose that simply isn't called for in Europe.

In the EU there's masses and masses of innovation when it comes to banking. It's getting faster and more convenient all the time. It's still built on the same old crud of course but at least they attempt to be convenient.

Topic: JUST TRANSFERED 20K USD AND BANK CHARGED ME $700 !!!! - page 3. (Read 992 times)