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> and Banks can seize or reverse the funds. Why would they do that? I've never had that happen to me when I send an international transfer. But it's always
by danans 4y ago
> and Banks can seize or reverse the funds.
Why would they do that? I've never had that happen to me when I send an international transfer.
But it's always been for innocuous things like "reimburse relative for vacation rental expenses"
- notch656a 4y agoI had a domestic wire temporarily seized for 2 days because a bank wanted to KYC me a second time, even though I'd already KYC to open the account. Yes I was made whole but it was unpleasant and I happily would have eaten the ~.30 of litecoin transaction fees and 0.1% crypto exchange fee to avoid that. Not to mention the wire cost me $15 in the first place and not everyone has ready access to a bank with free wires.
- s1artibartfast 4y agoI had a 100k wire held for 30+days. It was in the middle of escrow and I had to borrow 100k so that the purchase didn't fall apart.
- danans 4y ago> I had a 100k wire held for 30+days. Depending on which country it is going to, that seems like an amount large enough to legitimately trip over some checks. In the US itself, last I heard all domestic transfers over 10k get reported.
- s1artibartfast 4y agoI dont particularly care about what is reported. What I care about is being able to move my money when I need to. In this specific instance, it was a domestic transfer. Getting locked out of your own money can cause major damage. I'm lucky that I was able to dig up another 100k. Someone else could have lost their 50k and be liable for hundreds of thousands more in liability to the seller.