P2P Exchanges and vendor country location

[lunarlanding2021]

I've noticed that when looking for a vendor on P2P Exchanges (which utilise an escrow service) it's possible to select their country of location.

Presumably, provided the vendor has plenty of good feedback, then their country location isn't something of particular concern?

I guess one reason why a purchaser might select upon vendor's country location would be if wanting to meet in person. If that's not happening, I guess their country location shouldn't be of any particular concern; particularly if paying by bank transfer?

Any thoughts? 

[LeGaulois]

I guess their country location shouldn't be of any particular concern; particularly if paying by bank transfer?

It can be, to the contrary. Especially if you pay by bank transfer.

Some people do not want to have to make transfers to foreign countries and therefore prefer to trade with people from the same country.

- This way, there is no doubt in the bank's mind. There is no risk they will ask you how it is that you are sending money to another country. (It happens).
- Some banks require authorizations/confirmations in order to make a transfer to a foreign country. So you can easily waste a week with this process.

Others want to avoid specific countries. Personally, in my case, there are some I don't want to deal with. I stay in the EU, but I don't want to deal with some countries outside the Eurozone

[lunarlanding2021]

I don't want to deal with some countries outside the Eurozone

So (being in the Eurozone) would you avoid all "Five Eyes" nations i.e. Australia, Canada, New Zealand, the United Kingdom and the United States?

[LeGaulois]

So (being in the Eurozone) would you avoid all "Five Eyes" nations i.e. Australia, Canada, New Zealand, the United Kingdom, and the United States?

Yes and No

Yes, because I've enough opportunities and I don't need to look somewhere else. And secondly, because the countries you mention do not use EUR currency and I can't receive anything else than EUR. Or I would need to open another bank account and then I will pay an outrageous FX fee
It's not so popular to sent money overseas so I prefer to stay in Europe to stay 'under the radar' if I can say.

Just to tell you a story. The last bank account I opened, with IGN, the first question they asked me, even before asking my name/last name, was "are you American?"

No: if it was my only alternative, I would jump on it

[JeromeTash]

Presumably, provided the vendor has plenty of good feedback, then their country location isn't something of particular concern?

Yeah, there's no big concern so long as the payment method is supported for both countries.

I have personally traded with different traders from across the boards with no problem. Using Bank transfers too, though not so much like other payment methods.

[hugeblack]

There are a lot of problems and exchange rates and conversion of the local currency are all reasons why a person asks about the country he would like to transfer from in advance.
Also, in many countries there are laws that may lead to account freezing if a lot of payments are received from many countries that are not related to it, and some anti-money laundering or drug trafficking agencies follow the patterns of remittances that come from a particular country.

In short, knowing the country is often important.

[magneto]

I've noticed that when looking for a vendor on P2P Exchanges (which utilise an escrow service) it's possible to select their country of location.

Presumably, provided the vendor has plenty of good feedback, then their country location isn't something of particular concern?

I guess one reason why a purchaser might select upon vendor's country location would be if wanting to meet in person. If that's not happening, I guess their country location shouldn't be of any particular concern; particularly if paying by bank transfer?

Any thoughts? 

When something goes awry, would you rather deal with a vendor that is in the same legal jurisdiction as you, or someone who is thousands of miles away from you in a country with weak regulations when it comes to crypto?

Probably the former.

But you're right, it's not a deal-breaker and so long as the vendor's rep is legitimate, it's usually okay to go with them if they've got good rates. They may just have a subsidiary operator in your country that is handling these trades.

[as.exchange]

Usually there are limitations by payment method providers, such as
1) such as authorization as was mentioned by others,
2) paying to accounts from abroad typically involves higher transfer fees,
3) not all payment methods supported (for example what is available in the US, might not be available in Japan or Russia),
4) transfer times via conventional bank wires can take days or even weeks to be processed,
5) in the case of scams, it's way harder to resolve issues on international scale when banks are involved, and can take 1-2 years (actually saw that happening).

That's why due to above, on as.exchange for example, you can always select "Other" as a payment method and type whatever you prefer, or even pay with crypto for the BTC (for example can pay with USDT, BNB, ETH, or anything else), which helps it to serve as a secure crypto-to-crypto escrow to whomever needs that.