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Last week I needed to make a highly time-sensitive transfer of ~20k that had to clear the same day. Chase charged me a flat fee of $25 for the wire (and Ally Ba
by rrdharan 8y ago
Last week I needed to make a highly time-sensitive transfer of ~20k that had to clear the same day. Chase charged me a flat fee of $25 for the wire (and Ally Bank would have been happy to do it for $20). Chase temporarily froze my account since the payment was so large it was immediately flagged, but I spoke to someone on the phone within a few minutes, verified it was all legitimate, and the transfer was then processed without issue.
I fail to see how Bitcoin could have helped any of this.
- whopa 8y agoI had to do similar a month ago, around $20k as well. It was from my account at BofA to an account at a different bank. I did it all online, and it cost $10 and cleared the next day, so within 24 hours. I did this all online without talking to any person, though I did have to 2FA into my account. I get that some banks might not be as competent yet, but signs look like they'll all get there in the end.
- keymone 8y agois this sarcasm? > I fail to see how Bitcoin could have helped any of this. how about: - not having to pay $25 (btc fee of $0.03 is confirming within an hour, $0.10 is almost guaranted to confirm in 10m) - "frozen account" is not even a thing - not having to speak to anyone on the phone you must be joking.
- dj43nq 8y agoWith the price fluctuations, maybe that 20k arrives as 19k. Don’t leave it in bitcoin for too long either. Might turn into 15k.
- coryfklein 8y agoYou're fortunate that it was processed without issue. Banks and governments have vested interest in large money transfers and it could just have easily gone the other way; they could have suspected the money and witheld the transfer and the money until you provided paper documentation of its legitimacy.