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So $7600 (plus half a penny) in transaction fees on $38M. How much would a bank charge for wiring that amount?
by sedeki 6y ago
So $7600 (plus half a penny) in transaction fees on $38M. How much would a bank charge for wiring that amount?
- Symbiote 6y agoUp to $50 for a SWIFT transaction, without currency conversion. There's likely to be a similar charge for making a transfer that large from a bank to a Bitcoin exchange anyway.
- tor12 6y agoyou are mixing exchange rate premiums and transaction fees. imagine 30M or so EUR to USD first then transaction fee. most certainly more.
- Tenoke 6y agoIt depends. The fees for international wire transfers of those amounts are more complex. A random calculator I found suggested much, much more. Transferwise (cheapest I know) doesn't do that large transfers so you'll have to do it in ~100 transactions but the fees will be a lot larger, and this does not account for conversion fees which will be higher on their own. I found this for GBP, I assume it's similar. >For payments in GBP the fee percentage for the first 100,000 is 0.35%, and for any amount above that it’s only 0.20%. https://transferwise.com/gb/blog/send-large-sum-of-money-how https://transferwise.com/gb/blog/send-large-sum-of-money-how