Text 30665, 90 rader
Skriven 2009-04-01 04:18:38 av Bob Ackley (1:300/3)
  Kommentar till text 30584 av Robert Bashe (2:2448/44)
Ärende: Bank transfers
======================
Replying to a message of Robert Bashe to Roy Witt:

 RW>> You obviously don't know what you're talking about. Transfering money
 RW>> by wire within the US is very convenient and doesn't cost anything.

 RB> I was told the cost would be around $18 when I once wanted to send
 RB> money to my sister from an account in the States. "Electronic Bill
 RB> Payment" via a check was and is "free".

Apparently Roy hasn't done any wire transfers lately.  A month ago I had
my credit union in San Antonio (TX) wire transfer funds to my checking
account in Emerson (IA).  The credit union charged me US$12.00 to send
the wire transfer and the local bank charged me US$5.00 to process the
incoming wire.

Neither the credit union nor the local bank charge a fee for automated
electronic withdrawals (that pay bills) or electronic deposits (like payroll
or Social Security).



 RB>>> (any yes, I can compare because I work with both systems). But I've
 RB>>> already expressed my opinion of the American banking system
 RB>>> elsewhere, and it's not favorable.

 RW>> You're obviously working at a disadvantage with a system that has
 RW>> left you in the dust.

 RB> Actually, I think the exact opposite, so I guess we balance each other
 RB> out.

 RW>>>> But when he goes to his bank to withdraw the full amount, they'll
 RW>>>> tell him that only a certain amount can be withdrawn.

 RB>>> Maybe in the USA.

 RW>> Anywhere in the world.

 RB> Sorry, but _no_. Simply not the case, at least not in Germany. Others
 RB> from the EU will have to speak for themselves.

 RB>>> Here, you do an account-to-account transfer inside the EU and when
 RB>>> the money is in the target account, the owner can withdraw all of
 RB>>> it,

 RW>> Not necessarily. If he has pending obligations, a certain portion of
 RW>> that money is not available until after the obligations are paid.

 RB> You're assuming an overdrawn account. I wasn't. And in most cases in
 RB> Germany, you have a so-called "Ueberziehungskredit" (overdraft
 RB> priveleges), which in contrast to the States is not something you
 RB> have to pay for or is limited to only the best (richest) customers. I
 RB> have one, my wife has one, and occasionally we go into the red for
 RB> half a day before I notice and transfer the overdrawn sum from
 RB> another account. Costs nothing, as long as the overdraft doesn't last
 RB> longer than the close of business on the pertinent day.

 RB> One of the reasons for this difference is that there is a legal
 RB> requirement for eveyone to record their place of residence at the
 RB> local Town Hall in Germany, making it harder to "skip" when in debt.
 RB> I used to hate this law, but now see there are advantages to the
 RB> customer in it.

 RB>>> or as much as he wants. None of these "waiting periods" like in the
 RB>>> States before a check clears.

 RW>> This wasn't a 'check' transfer...it was an account-to-account
 RW>> transfer. The money was wired from my account at 11:30am and it
 RW>> arrived in his bank account at 11:30am, both banks on CDT...

 RB> And you paid no fees for that? No percentage of the transferred sum?
 RB> Knowing what I do about American banks, I find that incredible.

 RB>>> Frankly, if I were a seller and didn't get the full purchase price,
 RB>>> I would consider the sale void, return (minus fees) whatever money
 RB>>> was paid and say "good day".

 RW>> Glad to know your business MO...we won't be doing business anytime
 RW>> soon.

 RB> Don't _you_ insist on full payment before handing over a valuable? Or
 RB> is that also different in the States?

 RB> Cheers, Bob

 RB> -!- GoldED+/W32 1.1.5-0613
 RB>  ! Origin: Jabberwocky System - 02363-56073 ISDN/V34 (2:2448/44)

--- FleetStreet 1.19+
 * Origin: Bob's Boneyard, Emerson, Iowa (1:300/3)