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Author Topic: Live test; BTC Transaction versus USD Wire Transfer  (Read 834 times)
yoseph
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March 10, 2018, 07:44:27 PM
 #21

...

Our experience with wire transfers is that they are pretty quick vs. in the past.

Peru -> USA: the money arrives in about 12 - 30 hours, depending.  Total costs for small transfers: some $100 (our- and incoming fees)

Peru -> Korea and Japan: the money arrives in a day or two after sending.  Total costs probably similar as above, maybe a hair more.

Peru -> China: I don't really know, but our Chinese suppliers never complain about when they receive the money after the T/T.

For international transactions among real companies the bank wire transfers work "well enough".  But, when I receive a payment (say for $3000), the total costs are some $60 or more.


Am sure this is one of the numerous reason why the banks are so against the use of Bitcoins because it is making them lose money when people are no longer using these kind of services anymore and more inclined towards Bitcoins and other alt coins.
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