OT: Ebay question

[Jason D. Justman]

Sean,

Maybe you haven't had the opportunity to do a INTL money transfer yet.  When you walk
up to the "experienced financial consultant" at most major banks (the now dominant
Standard Federal is an example) and ask to do an intl transfer, they give you a look
like deer in the headlights.  When you give them a SWIFT # anything else other than
the amount you are transferring they get completely confused.  I had one lady tell me
she had to call chicago to see if she was doing it right.  Come to find out, the
transfer hadn't been completed until ABM AMRO (their parent company) sent me a letter
about 2 weeks later from out of state to signify the transfer had been completed.
This transfer was to another business in Germany actually.  In her years of working at
that branch, the only time she had exposure to it was in training.  That spells
complete confidence to me!

3 months for out of country balance transfers?  You've got to be kidding - in this day
of age where foreign markets are made and broke in HOURS, it doesn't quite make
sense.  Except for the "protection" of the transferrer-transferree.  Of course, if you
bring up a comment like 'its also fair for a bank to charge $30' - even though the
going rate of a SWIFT transfer ( 1.1bil transactions last year) is about a cost of
about .36c/message.  EFT's are designed to be quick, painless and built for economies
of scale.  Just do some reading on CHIPS/SWIFT.

For individuals, its a fringe service.  It's like driving a pinto - you dont know if
it'll get to it's destination in one piece.

jason

Sean wrote:

> I found the comments to be rather offensive and uncalled for, and even
> after reading a page of blather it only explained your ignorance of the
> U.S. banking system. In fact I believe it is a banks right to hold the
> money for like 3 months for out-of-country balance transfers.
>
> Just like it is there right to hold personal checks for I believe a week,
> and 3 weeks for out-of-state withdraws. I am not fully aware of the rules,
> but someone that is familiar with the banking systems around the world
> should be.
>
> On Wed, 31 Oct 2001, Marcel Kunath wrote:
>
> > Very funny Jason =)
> >
> > You may find it offensive Julie but if I walk into a bank and want to transfer
> > money (no matter how much) and I got a girl or guy there 18 years old and I
> > know more about wire transfers than (s)he does simply from reading her/his body
> > language and her/his answers to my questions I fear about my money.
> >
> > Sorry for my strong comments but if you knew the scrutinized education German
> > bankers have to go through you wonder how anybody can trust a teller. I am not
> > against youth in the banking business. I am against having youth run a branch
> > and the manager not be available.
> >
> > I got a friend here in Oz who used to be a CEO of a international company with
> > branches in the USA. He quit te business and moved back to Oz. He is trying
> > since weeks to get his money back from the USA and the Americans are too
> > *beep*
> > to do a wire transfer even though he has proven tothem multiple times that he
> > is authorized to request this transaction from his account.
> >
> > Clearly it depends on who you make business with. Wire transfers are a stressy
> > subject for me due to my experience but I don't even want to expereince if
> > money ever gets wired to the wrong place and the loops you have to jump
> > through to prove that you have the right to get it back. Hence I am putting the
> > bar very high on banking services and how to please me. People who have not
> > moved around as much money as I have between countries don't get to see how
> > untrustworthy such action can be.
> >
> >
> > mk
> >
> >
> > >
> > > i believe you are reading into his statement a bit too much.  i am a college
> > > student, and a blondie.  i dont find it offensive.
> > >
> > > perhaps you are trying to imply a gender in his statement, which there is most
> >
> > > definately not.
> > >
> > > jason
> > >
> > > Julie wrote:
> > >
> > > > Marcel wrote:
> > > >
> > > > >I would always insist to
> > > > >ask for the manager first to make sure some college blondie ain't messing u
> > p.
> > > >
> > > > Um..did anyone else find this statement more than a little offensive?
> > > >
> > > > *julie
> > > >
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> > >
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> >
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