Bitcoin Forum
December 04, 2016, 08:14:17 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: All USD routed through USA?  (Read 3352 times)
jago25_98
Hero Member
*****
Offline Offline

Activity: 871


http://moneybutnofixedabode.blogspot.com


View Profile WWW
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.
1480839257
Hero Member
*
Offline Offline

Posts: 1480839257

View Profile Personal Message (Offline)

Ignore
1480839257
Reply with quote  #2

1480839257
Report to moderator
1480839257
Hero Member
*
Offline Offline

Posts: 1480839257

View Profile Personal Message (Offline)

Ignore
1480839257
Reply with quote  #2

1480839257
Report to moderator
1480839257
Hero Member
*
Offline Offline

Posts: 1480839257

View Profile Personal Message (Offline)

Ignore
1480839257
Reply with quote  #2

1480839257
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480839257
Hero Member
*
Offline Offline

Posts: 1480839257

View Profile Personal Message (Offline)

Ignore
1480839257
Reply with quote  #2

1480839257
Report to moderator
1480839257
Hero Member
*
Offline Offline

Posts: 1480839257

View Profile Personal Message (Offline)

Ignore
1480839257
Reply with quote  #2

1480839257
Report to moderator
Meni Rosenfeld
Donator
Legendary
*
Offline Offline

Activity: 1890



View Profile WWW
November 16, 2011, 08:38:59 AM
 #2

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".

1EofoZNBhWQ3kxfKnvWkhtMns4AivZArhr   |   Who am I?   |   bitcoin-otc WoT
Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary)  |   PureMining - Infinite-term, deterministic mining bond
repentance
Hero Member
*****
Offline Offline

Activity: 840


View Profile
November 16, 2011, 04:29:11 PM
 #3

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?

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
Yankee (BitInstant)
Legendary
*
Offline Offline

Activity: 1078


Charlie 'Van Bitcoin' Shrem


View Profile WWW
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
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!