JUST TRANSFERED 20K USD AND BANK CHARGED ME $700 !!!!

[drawingthesun]

This is why we need bitcoin. I am soo sick of these central bank mafia scum controlling our finances.!!!

I just did a international wire transfer and the banks cuased me to loose $700 because of how the make a huge 3% margin with the conversion of the money from one country currency to another.Imagine those bankers sitting there in their Jacuzzis relaxing while their computers move money getting $700 or much more from all the people who send money.
D@mn mafia!!
What would you do with $700 for free??

These banks are building the own destruction by robbing people like that.It is very arrogant they should be in jail for theft and fraud.
This is why we need bitcoin!! If I used the ightning network I could have done the transaction for some pennies!

Unfortunately this is why Bitcoin isn't taking off in Australia.

We have instant (several seconds) transfer between banks in Australia which is also free.

International transfer to the UK (our most popular destination with existing family.) is about $20.

It's amazing I think Australia's banking system is the most advanced in the world.

But the downside is no one here really cares about Bitcoin, as there is very little point to owning it in Australia.

[dmty.0809]

WOW, 700 $ is very big for a fee, really if you use bitcoin, you won't lose 700 $, the fee for bitcoin alone is only 1% .. It's cheaper if you change bitcoin to doge.

[Tamilson]

so OP end solution is, stop being reliant on FIAT. and ask the person you send funds to to not be reliant on fiat. then stick with just btc

Yeah just introduce him to btc so you can have a peer to peer transaction and everything will be fine. That $700 is huge just for a wire transfer and it's killing the society.

Though people are reluctant about bitcoin since it's volatile but they didn't bother to think the money deflates as so with the higher inflation, so what's more acceptable then?

[cizatext]

Since the coming of bitcoin must people have switch from using bank for transferring of huge money across countries, send money using the bank have it huge cost and at times it may take days before the transactions will go through and with a huge transactions fees but the case is different with bitcoin with a small fee you send money to any one and at any where in the world fast and secured.

[larrylegend33]

I wonder which country you are living? This is is really huge ammount of money actually $700 means robbery! The blockchain and the cryptocurrency system found to solve this type of matters. And why didn't you use cryptocurrency to send money? Didn't you have the chance to use it? Or your reciever don't know about it? Sorry  for your lost..

[funchiestz]

This is why we need bitcoin. I am soo sick of these central bank mafia scum controlling our finances.!!!

I just did a international wire transfer and the banks cuased me to loose $700 because of how the make a huge 3% margin with the conversion of the money from one country currency to another.Imagine those bankers sitting there in their Jacuzzis relaxing while their computers move money getting $700 or much more from all the people who send money.
D@mn mafia!!
What would you do with $700 for free??

These banks are building the own destruction by robbing people like that.It is very arrogant they should be in jail for theft and fraud.
This is why we need bitcoin!! If I used the ightning network I could have done the transaction for some pennies!

I think why Bitcoin is so important we can see here now. If you did this transaction with BTC, you could pay about only 3.25 $.

You may not pay with some crypto coins like NEO!

There's little time left to use Bitcoin this way. Soon the whole world will see it as a value of money, and I think this will hurt the banks a little bit. But it would be wrong to pity them. In the age of technology, it is not ethical that they still receive very high fees for money transfer.

[Wayan_Pedjeng]

LOL... this is not a one-off incident. I am a resident of Indonesia and whenever I visit Singapore or Thailand, they change somewhere around 3% for the conversion to SGD or THB from IDR. What we can do about it?

[btc_angela]

LOL... this is not a one-off incident. I am a resident of Indonesia and whenever I visit Singapore or Thailand, they change somewhere around 3% for the conversion to SGD or THB from IDR. What we can do about it?

Bring your crypto with you and then try localbitcoins in the country where you going to travel.  . I'm remember a guy travelling with his bitcoin or something exchanging it through locals. And he says he met a lot of crypto enthusiast because of it so it might work.