[LINK] RFI: Overseas Payments

[Jim Birch]

This is one of the good arguments for a cryptocurrency.  (Unlike a lot of
the arguments that seem to me completely airheaded.)  It could allow what
economists call "frictionless" payments including across national borders.

Anyone remember when you could just hand someone a ten dollar bill without
some rent-seeking organisation taking a cut?  :)

- Jim


On 19 March 2014 08:56, Jan Whitaker <jwhit at internode.on.net> wrote:

> At 06:25 AM 19/03/2014, Martin Barry wrote:
> >Roger, we had a slightly different experience where the rate we saw on the
> >website was locked in as soon as we submitted the trade. There was a phone
> >call within 30 minutes from one of their reps to double check it but the
> >rate was locked at the earlier time. We then had a day or two to transfer
> >the money. Not sure if this is how it works for everyone or just because
> we
> >were a known, good customer.
>
> I think the phone call thing is for the first transaction -- the
> hand-holding I mentioned. I can't imagine they would do it every
> time. Can't recall the advice on the website. But yes, you are
> advised that the transaction will be locked in when you finalise it online.
>
> I also asked about the time available for doing the transfer from the
> other side and they were happy with 2 days, and even said if you let
> them know because a weekend intervened, they would try to work with
> the client for that as well. They are aware of such time breaks in
> places like the US and time zone issues. Because there may be a
> penalty if the transfer wasn't initiated in a timely manner, it's
> lower risk to do it at the beginning of the week if possible.
>
> Jan
>
>
>
> Melbourne, Victoria, Australia
> jwhit at janwhitaker.com
>
> Sooner or later, I hate to break it to you, you're gonna die, so how
> do you fill in the space between here and there? It's yours. Seize your
> space.
> ~Margaret Atwood, writer
>
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