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Title: All USD routed through USA? Post by: jago25_98 on November 16, 2011, 07:56:00 AM I just read a rumour that all international USD payments get routed with an additional hop through the USA, even if it's going from (for example) an USD denominated account in say, Panama to a USD account in Bermuda.
Is this true? I think it's relevant for anyone trying to cash out BTC. I guess changing currency would avoid this right? It might explain some unexpected higher fees. edit: "Intermediary instructions An intermediary bank is required when sending a payment in a currency that is not the domestic currency for the destination country. For example a USD payment to HSBC in Hong Kong will need to be routed via a US Bank. Do not worry if you have not been provided with an intermediary bank for a payment. Our dealers are able to locate the correct intermediary using their banking directories" ^ I wonder who Gox use and how stable the intermediary is. Title: Re: All USD routed through USA? Post by: Meni Rosenfeld on November 16, 2011, 08:38:59 AM I have no idea what is "required", I can only speak of my experiences wiring to mtgox. Sometimes an intermediary was used, sometimes it wasn't. The fees for the intermediary were in the range $25-$33. For at least one of the transfers, I think the intermediary was "HSBC BANK USA NA GEN REM A/C HK NEW CASTLE".
Title: Re: All USD routed through USA? Post by: repentance on November 16, 2011, 04:29:11 PM I just read a rumour that all international USD payments get routed with an additional hop through the USA, even if it's going from (for example) an USD denominated account in say, Panama to a USD account in Bermuda. Is this true? I think it's relevant for anyone trying to cash out BTC. I guess changing currency would avoid this right? It might explain some unexpected higher fees. edit: "Intermediary instructions An intermediary bank is required when sending a payment in a currency that is not the domestic currency for the destination country. For example a USD payment to HSBC in Hong Kong will need to be routed via a US Bank. Do not worry if you have not been provided with an intermediary bank for a payment. Our dealers are able to locate the correct intermediary using their banking directories" ^ I wonder who Gox use and how stable the intermediary is. Where does the quote in your edit come from? Title: Re: All USD routed through USA? Post by: Yankee (BitInstant) on November 16, 2011, 05:12:48 PM I just read a rumour that all international USD payments get routed with an additional hop through the USA, even if it's going from (for example) an USD denominated account in say, Panama to a USD account in Bermuda. Is this true? I think it's relevant for anyone trying to cash out BTC. I guess changing currency would avoid this right? It might explain some unexpected higher fees. edit: "Intermediary instructions An intermediary bank is required when sending a payment in a currency that is not the domestic currency for the destination country. For example a USD payment to HSBC in Hong Kong will need to be routed via a US Bank. Do not worry if you have not been provided with an intermediary bank for a payment. Our dealers are able to locate the correct intermediary using their banking directories" ^ I wonder who Gox use and how stable the intermediary is. HSBC HK uses HSBC USA for their intermediary bank. Same thing with most banks that have branches in other countries. |