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Where are you based? UK to UK (at least) money transfers are usually done in seconds/minutes. We use Wise for international stuff and it's pretty much instant a
by iamben 4y ago
Where are you based? UK to UK (at least) money transfers are usually done in seconds/minutes. We use Wise for international stuff and it's pretty much instant as well.
Surely if bitcoin/crypto became the way/ubiquitous, it would end up having the same KYC issues?
Not knocking crypto, btw!
- ramraj07 4y agoYou absolutely are knocking on crypto, as you should. The only morally legitimate use case I’ve seen for crypto was when it was one way you could still donate to the scihub lady.
- fumblebee 4y agoLocal transfers in many jurisdictions are instant or near instant [1]. UK based FPS is just one of many. International transfers are certainly not instant - Wise originally innovated a cheaper and faster solution to this problem, but that crown is fast vanishing as rivals heat up their offerings (Atlantic Money, Revolut, amongst others). BTC is a valid alternative to these options. My real gripe is the on/off-ramp between FIAT and crypto. That's where the fees are in my experience. [1] https://www.gbm.hsbc.com/-/media/gbm/insights/images/scheme-instant.jpg https://www.gbm.hsbc.com/-/media/gbm/insights/images/scheme-...
- quadcore 4y agoOh yeah banking in the UK is awesome compared to what i have now in France, ive used my (UK) account for years, even when I was in Asia or in Africa.