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There are plenty of times when I don't want to use FEDwire, SWIFT, VISA, you name it. Its all dollar centric. I have plenty of clients that only want to use SE
by vmception 4y ago
There are plenty of times when I don't want to use FEDwire, SWIFT, VISA, you name it. Its all dollar centric.
I have plenty of clients that only want to use SEPA (europe and some european country colonies), because they're familiar with it and for some specifically because its not dollar centric. People fear the US will try to establish jurisdiction over them or inconvenience their ability to transact now or in the future, whether that is unfounded or not. (They're not legal experts, they just have chain letters forwarded around whatsapp)
I'm sure you only want to use things that are familiar as well and would scoff at any client trying to do commerce in a system that isn't common to you.
WISE (Transferwise) has extremely arbitrary limits, holdups, freezes, opaque issues, and a ridiculous terms of service if you've ever looked. Revolut is the same way.
Western Union is expensive, and cumbersome.
Paypal is a worse version of WISE, and is known for its international issues and patch work of countries it services. Let alone arbitrary freezes.
Crypto is fast, exposure to any crypto is as short or as long as you want (worth saying because its a common imagined issue people have with using crypto because they think it'll change value alot over the time period they need it. its a very simple understanding). And people can convert it to something more liquid in their local economy with their local offramps. For many years I've basically used crypto to circumvent using international wires, the same transaction becoming a domestic wire and therefore less room for error and less arbitrary scrutiny. There are probably zero statistics on this. Client overseas pays me, I wire to USD domestically same day.