Ridiculous Banking Fee's

[Furio]

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?

[Amph]

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

[Kakmakr]

If I understand you correctly you transfered the money from your country via your bank to his account? You did not use MoneyGram or WU?
Well many companies are already addressing the remittance market, for example BitPay.
The best way to do this, would be for you to help him setup a Bitcoin address with a exchange, and then transfering the money to him via Bitcoin. It's just a pity he has to convert it back to fiat, it would be so much easier if the merchant/tailor accepted Bitcoin too. ^hmf^

[Furio]

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

[Furio]

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?

This fee is completely ridiculous...
You can actually call it robbery...

My thought exactly, this is nothin more or less than what the maffia does, fucking "legitamite" banking cartels...

[Amph]

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

32 is way too much, but with some research i discovered that up to 20-25 is a normal price depend on your bank

i've also read that if there is some errors in your disposal, there is a penality of 10 euro, you have written  everything in the right way?

[NUFCrichard]

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.

[greBit]

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

[Furio]

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

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.

[Amph]

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

[Q7]

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.

[qiwoman2]

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.

[Furio]

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.....

[n2004al]

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.

[countryfree]

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.

[knowhow]

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

[Furio]

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

[Kakmakr]

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. 

[Slark]

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.

[acquafredda]

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