Ridiculous Banking Fee's - page 2. | Bitcointalksearch.org

Furio

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Quote from: Gyfts on July 21, 2015, 08:52:45 AM

Quote from: Furio on July 21, 2015, 07:28:40 AM

Quote from: Gyfts on July 21, 2015, 06:45:23 AM

You don't use it, simple. You "boycott" their services and promote something that goes directly against it...(Bitcoin Wink

)

To add to this, any type of service, whether it be PayPal or Western Union, has extreme fees sending international payments. Between conversion fees with currencies and cuts the service takes, you're looking at a major cut in all outgoing transactions. Nothing compared to the miners fee, though.

You state it so simple, but the reality is that a fraction of the population has acces to equipment capable of Bitcoin mining or transfers. Most people in Thailand don't even have a computer, so your option isnt a option my friend, not everybody can accept, trade and exchange Bitcoin.... Still a long way to go

Boycotting is simply not allways a option...

Not necessarily Bitcoin mining, but just accepting Bitcoin. You can accept Bitcoin from a mobile phone if needed. The point I'm making is no one is forcing you to use the services of PayPal, WU, ect. If you don't like the fees, don't use it, and use Bitcoin instead. If you don't have a computer or mobile phone, fees should not be your worry. I a state like that I doubt the person would be sending and receiving transactions (internationally) frequently enough for fees to even make a notable difference. As far as the whole boycotting goes, I didn't mean this in a literal sense as you should go and "protest" or something along those lines. PayPal and WU are huge companies to where they don't need the business of the OP to make any difference to them. In a bigger picture though, sometime in the future when public acceptance of Bitcoin exists, these companies will have a rough time competing therefore they'll be forced to adjust fees and such.

I understand what you mean, and you're right for the most part. My point is that not everyone can use this, due to knowhow or lack of resources. I never use Paypal, banks, or Creditcards unless I really have to, and the problem is, I HAVE TO use them so ridiculously much to get anything done abroad....

AtheistAKASaneBrain

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Quote from: Furio on July 17, 2015, 04:42:07 AM

Quote from: Amph on July 17, 2015, 02:33:11 AM

what bank account do you have? because with deutesche bank i'm paying zero on everything on every transaction and on every withdrawal from any atm

the only fee is associated with conversion rate, when you want to deal with different fiat money, but this is normal

Your confusing this with IBAN transfers, those are free within the EU, international banking transfers sadly, no Sad

I understnad conversion rates, but over 30 euro's, really!?

I think you mean SEPA transfers. I think even then you have to pay some fee. Banking infrastructures are huge monsters that need a lot of cash to be maintained. Im sure you are paying one way or another if indirectly throught fees, through somewhere else. Everyone pays the banks if you use a bank.

Gyfts

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Quote from: Furio on July 21, 2015, 07:28:40 AM

Quote from: Gyfts on July 21, 2015, 06:45:23 AM

You don't use it, simple. You "boycott" their services and promote something that goes directly against it...(Bitcoin Wink

)

To add to this, any type of service, whether it be PayPal or Western Union, has extreme fees sending international payments. Between conversion fees with currencies and cuts the service takes, you're looking at a major cut in all outgoing transactions. Nothing compared to the miners fee, though.

You state it so simple, but the reality is that a fraction of the population has acces to equipment capable of Bitcoin mining or transfers. Most people in Thailand don't even have a computer, so your option isnt a option my friend, not everybody can accept, trade and exchange Bitcoin.... Still a long way to go

Boycotting is simply not allways a option...

Not necessarily Bitcoin mining, but just accepting Bitcoin. You can accept Bitcoin from a mobile phone if needed. The point I'm making is no one is forcing you to use the services of PayPal, WU, ect. If you don't like the fees, don't use it, and use Bitcoin instead. If you don't have a computer or mobile phone, fees should not be your worry. I a state like that I doubt the person would be sending and receiving transactions (internationally) frequently enough for fees to even make a notable difference. As far as the whole boycotting goes, I didn't mean this in a literal sense as you should go and "protest" or something along those lines. PayPal and WU are huge companies to where they don't need the business of the OP to make any difference to them. In a bigger picture though, sometime in the future when public acceptance of Bitcoin exists, these companies will have a rough time competing therefore they'll be forced to adjust fees and such.

Furio

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Quote from: Gyfts on July 21, 2015, 06:45:23 AM

You don't use it, simple. You "boycott" their services and promote something that goes directly against it...(Bitcoin Wink

)

To add to this, any type of service, whether it be PayPal or Western Union, has extreme fees sending international payments. Between conversion fees with currencies and cuts the service takes, you're looking at a major cut in all outgoing transactions. Nothing compared to the miners fee, though.

You state it so simple, but the reality is that a fraction of the population has acces to equipment capable of Bitcoin mining or transfers. Most people in Thailand don't even have a computer, so your option isnt a option my friend, not everybody can accept, trade and exchange Bitcoin.... Still a long way to go

Boycotting is simply not allways a option...

Amph

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Quote from: Slark on July 21, 2015, 05:18:27 AM

Quote from: Amph on July 17, 2015, 02:33:11 AM

what bank account do you have? because with deutesche bank i'm paying zero on everything on every transaction and on every withdrawal from any atm

the only fee is associated with conversion rate, when you want to deal with different fiat money, but this is normal

Well, your 'no fee' privileges are limited for sure. They are restricted to be only in your country or maybe Eurozone in Deutsche bank feel generous.
If you try to pay for something you buy far away - maybe like Op in Thailand - I am sure that the fees would be devastating.
And secondly there are are different rules for supposedly the same Bank located different countries, so Deutche Bank in France could have different fees that in Greece etc.

yeah you're right but i would not buying anything outside from euro, and not because of the fees(which can rise to 25 euro or around that) but because of the customs that might blocks my items and force me to pay much more than a mere 25 euro...

maku

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Quote from: Gyfts on July 21, 2015, 06:45:23 AM

You don't use it, simple. You "boycott" their services and promote something that goes directly against it...(Bitcoin Wink

)

To add to this, any type of service, whether it be PayPal or Western Union, has extreme fees sending international payments. Between conversion fees with currencies and cuts the service takes, you're looking at a major cut in all outgoing transactions. Nothing compared to the miners fee, though.

It will be a good way if all people were aware of the problem. But people are being oblivious and kept in the dark. They are living in the scheme of economic slavery and we need to teach them that old system is not helping them and instead is robbing them from their money. If 10 or 20 people boycott bank services it won't be enough...

Gyfts

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You don't use it, simple. You "boycott" their services and promote something that goes directly against it...(Bitcoin Wink

)

To add to this, any type of service, whether it be PayPal or Western Union, has extreme fees sending international payments. Between conversion fees with currencies and cuts the service takes, you're looking at a major cut in all outgoing transactions. Nothing compared to the miners fee, though.

Bardman

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Quote from: Furio on July 17, 2015, 01:05:41 AM

Our "beautifull" banking system @ work.

I ordered 2 nice pances from a tailor which I befriended in Thailand. I transferred 4000 bath (108 euro's) and ask the bank to let me pay for the transaction.... Boy did I regret that

The billed me for 32 euro's, only for the transfer, but now the best part, the guy in Thailand only recieved 3900 bath!? So eventhough I paid the FULL transaction, they still deducted 100 bath from this poor guy's account!!

This remains the biggest chance for crypto. There should be a global organization dedicated to promote bitcoin as a means to transfer funds in low wage countries. This guy is gonna try bitcoin next order, simply because I explained it to him as a way to avoid those ridiculous high costs for creating numbers in a computer out of thin air...

In short, how could we as a community promote this. If you look at the enormous marketing budgets from services as paypal or western union, with their same ridiculous fees, how can we make a fist to something like that?

What are your ideas?

Oh boy, banks.. The fees, ok i can understand it, every bank has similar fees but the -100 bath? That's actually robbery, you should have made a complaint because that is not fucking normal.

acquafredda

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Quote from: Furio on July 17, 2015, 01:05:41 AM

Our "beautifull" banking system @ work.

I ordered 2 nice pances from a tailor which I befriended in Thailand. I transferred 4000 bath (108 euro's) and ask the bank to let me pay for the transaction.... Boy did I regret that

The billed me for 32 euro's, only for the transfer, but now the best part, the guy in Thailand only recieved 3900 bath!? So eventhough I paid the FULL transaction, they still deducted 100 bath from this poor guy's account!!

This remains the biggest chance for crypto. There should be a global organization dedicated to promote bitcoin as a means to transfer funds in low wage countries. This guy is gonna try bitcoin next order, simply because I explained it to him as a way to avoid those ridiculous high costs for creating numbers in a computer out of thin air...

In short, how could we as a community promote this. If you look at the enormous marketing budgets from services as paypal or western union, with their same ridiculous fees, how can we make a fist to something like that?

What are your ideas?

we need a service like transferwise that works with BTC!
That would be awesome.
SO come on devs... do that

Slark

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Quote from: Amph on July 17, 2015, 02:33:11 AM

what bank account do you have? because with deutesche bank i'm paying zero on everything on every transaction and on every withdrawal from any atm

the only fee is associated with conversion rate, when you want to deal with different fiat money, but this is normal

Well, your 'no fee' privileges are limited for sure. They are restricted to be only in your country or maybe Eurozone in Deutsche bank feel generous.
If you try to pay for something you buy far away - maybe like Op in Thailand - I am sure that the fees would be devastating.
And secondly there are are different rules for supposedly the same Bank located different countries, so Deutche Bank in France could have different fees that in Greece etc.

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Quote from: countryfree on July 17, 2015, 06:00:58 PM

What surprises me here is that OP made a transfer without checking how much the fee would be.

You would be more surprised, if you knew how little percentage of people really know anything about the fee's and the interest banks charged. My company recently invited a bank to present their products to the employees. During the presentation, the rep asked people, what fee's they were paying on different transactions. Only 1 out of the 500 employees who attended, had information on his banks tarrifs and fee's.

People complain, but they seldom investigate further into cheaper alternatives. They just get used to it, and then they start to budget for it. When I pitch Bitcoin to people, I normally ask them about their banking fee's, and most of them just guess how much the total monthly fee is, they do not know the individual charges. Shocked

Furio

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Quote from: countryfree on July 17, 2015, 06:00:58 PM

What surprises me here is that OP made a transfer without checking how much the fee would be. I make bank transfers every week, and I always check before hand. To make international transfers, most bank ask for a percentage of the transaction with a cap at both ends. It can be $10 on the bottom end and $150 on top.

Some customers may get reduced rates if the transfer is between 2 accounts within the same bank. Say, it's cheaper to make a transfer between an HSBC account in London to another HSBC account in Hong Kong, than to make the same transfer from HSBC in London to Citibank in New York, but BTC is the cheapest option by far.

I checked afterwards, it wouldn't make much different because there is little to no difference between banks policies and fees. Some have a slight lower cap, some higher, but for my amount this wouldn't have made any difference sadly...

On a positive note, the pance fits like a glove

knowhow

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bank fees ,and credit card fees,thats why bitcoin is used and the main thing it were created to make those fees be fair and make our money worth more then it currentlu worths

countryfree

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Your country may be your worst enemy

What surprises me here is that OP made a transfer without checking how much the fee would be. I make bank transfers every week, and I always check before hand. To make international transfers, most bank ask for a percentage of the transaction with a cap at both ends. It can be $10 on the bottom end and $150 on top.

Some customers may get reduced rates if the transfer is between 2 accounts within the same bank. Say, it's cheaper to make a transfer between an HSBC account in London to another HSBC account in Hong Kong, than to make the same transfer from HSBC in London to Citibank in New York, but BTC is the cheapest option by far.

n2004al

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Quote from: Furio on July 17, 2015, 01:05:41 AM

Our "beautifull" banking system @ work.

I ordered 2 nice pances from a tailor which I befriended in Thailand. I transferred 4000 bath (108 euro's) and ask the bank to let me pay for the transaction.... Boy did I regret that

The billed me for 32 euro's, only for the transfer, but now the best part, the guy in Thailand only recieved 3900 bath!? So eventhough I paid the FULL transaction, they still deducted 100 bath from this poor guy's account!!

This remains the biggest chance for crypto. There should be a global organization dedicated to promote bitcoin as a means to transfer funds in low wage countries. This guy is gonna try bitcoin next order, simply because I explained it to him as a way to avoid those ridiculous high costs for creating numbers in a computer out of thin air...

In short, how could we as a community promote this. If you look at the enormous marketing budgets from services as paypal or western union, with their same ridiculous fees, how can we make a fist to something like that?

What are your ideas?

That fee is high without doubt. But all the banks (less or more) have fee in sending or receiving money. You think that they must use bitcoin to do such transactions or same people must sent bitcoin when sending money? Maybe it will be the same. Bitcoin it is nor real money so you must convert for sure your fiat money in bitcoin to make the sending process and then the other part must convert the bitcoin in the needed fiat currency. The change of bitcoin maybe can be the same cost as sending the real money.

Furio

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Quote from: Q7 on July 17, 2015, 07:59:25 AM

And you haven't taken into consideration the hidden fees. What I hate about banks is that they will hide behind their Terms and Conditions and I bet most individuals, an average daily user like myself didn't even notice that the fees existed. And you haven't consider the fact that there are millions of users using their services each day and the small amount will really pile up.

If it was a small amount, I wouldn't be complaining, but on a transaction of 100 euro, 32 euro's fee's, what the fuck!? Mafia.....

qiwoman2

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In Canada the banking fees really suck because my Hubby has to pay 20 bucks a month just for a normal checking account if the balance is under 100 Canadian dollars lol. At least here in Cyprus all my banking is Free unless I need to do a bank transfer and now with bacs it is much cheaper. I don't know why Canadian banking is so far behind and expensive lol.

Q7

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And you haven't taken into consideration the hidden fees. What I hate about banks is that they will hide behind their Terms and Conditions and I bet most individuals, an average daily user like myself didn't even notice that the fees existed. And you haven't consider the fact that there are millions of users using their services each day and the small amount will really pile up.

Amph

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Quote from: NUFCrichard on July 17, 2015, 06:13:50 AM

Quote from: Amph on July 17, 2015, 02:33:11 AM

what bank account do you have? because with deutesche bank i'm paying zero on everything on every transaction and on every withdrawal from any atm

the only fee is associated with conversion rate, when you want to deal with different fiat money, but this is normal

You can get free withdrawls from any ATM with Deutsche Bank? From a Sparkasse too?

I have a Deutsche Bank account and get changed if I send money abroad, but the amount that arrives has been correct, i foot the bill.

i didn't tried from sparkasse but until now it was always zero from the AT that i tried, it is also written in their document that there is zero fees on everything in the euro zone

Furio

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Quote from: greBit on July 17, 2015, 06:28:43 AM

A better idea would be to pay the bank a visit, ask the manager what went wrong and talk more detail into it. Maybe the procedures done by you had a flaw and you were fined for it, or maybe it might even be an honest mistake by a bank and you should talk to them once. And if everything was done properly, sue the bank in the citizen protection court for shit load of money from the bank Wink

No it simply are the rates for international transfers, most banks charge a percentage, not even a fee, it's dependant how high the amount is, it can go up to 150 euro's, ridiculous.

Topic: Ridiculous Banking Fee's - page 2. (Read 2444 times)