Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32603. (Read 26730403 times)
October 17, 2013, 09:02:15 PM
October 17, 2013, 08:33:35 PM
This is getting blown way out of proportion.
A news item get blown out of proportion?! On THIS forum of all places?! I never thought I'd live to see the day...
Yes but at the same time, a high constant fee is a good way to lock "most" people out but keep it legal for you and your pals (provided you are rich or funded by the rich).
For example, from reading these forums I learned the term "dollar denominated account" a few months ago. So I googled around found just one bank (UBS) that offered foreign currency denominated accounts. I thought it might be a good idea to diversify a bit into euros, yuan, etc. Called them up -- not going to happen unless I was going to deposit > 1 million USD. Too much overhead and paperwork...
Ironically, there's a trick that lets you do it in a small way with the company we love-to-hate: Paypal. If someone sends you money you can choose to hold it in the currency it was sent...
October 17, 2013, 08:24:50 PM
This is getting blown way out of proportion.
A news item get blown out of proportion?! On THIS forum of all places?! I never thought I'd live to see the day...
October 17, 2013, 08:02:13 PM
October 17, 2013, 07:33:21 PM
This is getting blown way out of proportion.
A news item get blown out of proportion?! On THIS forum of all places?! I never thought I'd live to see the day...
October 17, 2013, 07:20:12 PM
Yep i went to the bank also to do a wire this morning. I had to leave the coins, my keys and my mobile !! on a lock out of the security scanner door. Go the the back of queue and wait for half an hour. When it was my turn, the guy told me that due to reducing costs I should do that kind of transactions on the ATM outside in the street.
When will these dinousaurs extinct?
When will these dinousaurs extinct?
You can't take coins into your bank ?
Coins are money right...
fiat money and money are two different things
October 17, 2013, 07:06:56 PM
Yep i went to the bank also to do a wire this morning. I had to leave the coins, my keys and my mobile !! on a lock out of the security scanner door. Go the the back of queue and wait for half an hour. When it was my turn, the guy told me that due to reducing costs I should do that kind of transactions on the ATM outside in the street.
When will these dinousaurs extinct?
When will these dinousaurs extinct?
You can't take coins into your bank ?
Coins are money right...
October 17, 2013, 07:05:57 PM
I can send same day wires to most of the world.
sent two wires today, took about 45 min at the bank... god i love btc...
time is money....
Yep i went to the bank also to do a wire this morning. I had to leave the coins, my keys and my mobile !! on a lock out of the security scanner door. Go the the back of queue and wait for half an hour. When it was my turn, the guy told me that due to reducing costs I should do that kind of transactions on the ATM outside in the street.
When will these dinousaurs extinct?
time is money....
Yep i went to the bank also to do a wire this morning. I had to leave the coins, my keys and my mobile !! on a lock out of the security scanner door. Go the the back of queue and wait for half an hour. When it was my turn, the guy told me that due to reducing costs I should do that kind of transactions on the ATM outside in the street.
When will these dinousaurs extinct?
Most people are able to send a wire online in less than 3 minutes. Sounds like you need a better bank.
Yes, takes me a couple of minutes on the bank's website to send to a recipient who's already setup on my account.
If I do an international wire early in the afternoon they send it the same day and I know one guy who I pay on a regular basis often receives his payments the day I send them.
Of course this isn't a US bank we're talking about.
If I send a payment to another UK bank account it arrives in their account instantly using their 'faster payments' method.
October 17, 2013, 07:03:18 PM
HSBC here just told me that the USA is stopping wire transfers out of the country in order to protect their economy to prevent people from panicking. It sounds just like Cyprus.
yeah right..... October 17, 2013, 07:02:22 PM
October 17, 2013, 07:01:18 PM
HSBC here just told me that the USA is stopping wire transfers out of the country in order to protect their economy to prevent people from panicking. It sounds just like Cyprus.
October 17, 2013, 06:59:04 PM
I can send same day wires to most of the world.
sent two wires today, took about 45 min at the bank... god i love btc...
time is money....
Yep i went to the bank also to do a wire this morning. I had to leave the coins, my keys and my mobile !! on a lock out of the security scanner door. Go the the back of queue and wait for half an hour. When it was my turn, the guy told me that due to reducing costs I should do that kind of transactions on the ATM outside in the street.
When will these dinousaurs extinct?
time is money....
Yep i went to the bank also to do a wire this morning. I had to leave the coins, my keys and my mobile !! on a lock out of the security scanner door. Go the the back of queue and wait for half an hour. When it was my turn, the guy told me that due to reducing costs I should do that kind of transactions on the ATM outside in the street.
When will these dinousaurs extinct?
Most people are able to send a wire online in less than 3 minutes. Sounds like you need a better bank.
October 17, 2013, 06:55:45 PM
sent two wires today, took about 45 min at the bank... god i love btc...
time is money....
Yep i went to the bank also to do a wire this morning. I had to leave the coins, my keys and my mobile !! on a lock out of the security scanner door. Go the the back of queue and wait for half an hour. When it was my turn, the guy told me that due to reducing costs I should do that kind of transactions on the ATM outside in the street.
When will these dinousaurs extinct?
October 17, 2013, 06:09:29 PM
sent two wires today, took about 45 min at the bank... god i love btc...
time is money....
The funny part is you then still have to wait about a week for the money to actually be transferred. Its numbers for god's sake, what takes so long? I don't even know why its so slow TBH.
October 17, 2013, 06:02:08 PM
October 17, 2013, 05:02:12 PM
October 17, 2013, 04:46:43 PM
guy on reddit sheds some light:
Quote from: http://www.reddit.com/r/Bitcoin/comments/1oo0w7/lets_clear_the_air_about_chase_and_other_banks/
What is going on is there is an amendment that is being added to Regulation E, called the new remittance transfer rule. It is part of the Dodd-frank act, and this new rule is made to create 'consumer protection' so that you can cancel a wire within 30 minutes of making it, know what fees there are, etc. I did a more detailed write up on my blog that has links to sources and all that jazz.
TL;DR: There are new regulations that are being implemented on Oct. 28th. To avoid the headache, many banks (Chase and HSBC) are simply stopping int'l wire transfers, and other banks that still do outbound international wire transfer fees are going to double or triple.
Disclosure: I know about this because I work in finance.
TL;DR: There are new regulations that are being implemented on Oct. 28th. To avoid the headache, many banks (Chase and HSBC) are simply stopping int'l wire transfers, and other banks that still do outbound international wire transfer fees are going to double or triple.
Disclosure: I know about this because I work in finance.
I love consumer protections. They generally go something along the lines of "consumers can't use X unless BLAH". They make me feel very protected.
Still, this doesn't explain the cash withdraw limit.
October 17, 2013, 04:42:54 PM
guy on reddit sheds some light:
Quote from: http://www.reddit.com/r/Bitcoin/comments/1oo0w7/lets_clear_the_air_about_chase_and_other_banks/
What is going on is there is an amendment that is being added to Regulation E, called the new remittance transfer rule. It is part of the Dodd-frank act, and this new rule is made to create 'consumer protection' so that you can cancel a wire within 30 minutes of making it, know what fees there are, etc. I did a more detailed write up on my blog that has links to sources and all that jazz.
TL;DR: There are new regulations that are being implemented on Oct. 28th. To avoid the headache, many banks (Chase and HSBC) are simply stopping int'l wire transfers, and other banks that still do outbound international wire transfer fees are going to double or triple.
Disclosure: I know about this because I work in finance.
TL;DR: There are new regulations that are being implemented on Oct. 28th. To avoid the headache, many banks (Chase and HSBC) are simply stopping int'l wire transfers, and other banks that still do outbound international wire transfer fees are going to double or triple.
Disclosure: I know about this because I work in finance.
October 17, 2013, 04:31:51 PM
I like how the first comment is about Bitcoin
http://www.economicpolicyjournal.com/2013/10/shock-hsbc-usa-joins-chase-in-limiting.html?utm_source=twitterfeed&utm_medium=twitter
http://www.economicpolicyjournal.com/2013/10/shock-hsbc-usa-joins-chase-in-limiting.html?utm_source=twitterfeed&utm_medium=twitter
also this comment (one of the answers to the first bitcoin comment) is golden:
Quote
capital controls may be meaningless to bitcoins...but the inflation that follows will not! Your purchasing power will be eroded, one way or another...
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