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Author Topic: All USD routed through USA?  (Read 3737 times)
jago25_98 (OP)
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November 16, 2011, 07:56:00 AM
 #1

 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.

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Meni Rosenfeld
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November 16, 2011, 08:38:59 AM
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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".

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November 16, 2011, 04:29:11 PM
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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?

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Yankee (BitInstant)
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November 16, 2011, 05:12:48 PM
 #4

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.

Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer.

More about me: http://CharlieShrem.com
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