Discussion in 'Currencies' started by ozcopper, May 8, 2018.
Obama sent cash to Iran, he sent Billions all in cash
In a vast majority of cases they have little risk in this area. Reversing transactions is fast for the bank. In can be challenging if it is an international transaction. If they charged to recover their costs in these instances it would be fair.
I would love to see what the actual figures are for failed or lost transactions and the related costs as compared to the percentage fees collected.
A buddy of mine just bought his (2nd hand) Porsche 911 in cash in QLD. Somehow I think these guys will continue to do their thing
Tell that to the Commonwealth Bank ... CBA failed to report suspicious matters transactions totalling over $77 million ... with suspicious transactions between 2012 and 2015 had a total value of $625 million.
read more at: https://www.afr.com/business/bankin...e-haven-for-criminal-activity-20170804-gxp54g
For financial institutions, the ban on cash is just an excuse to charge you on currency conversion and transfers. Try withdrawing your usd balance in your Paypal and see how much paypal charges you?
its not recommended to store too much cash there, in the first place
you can make use of TransferWise https://transferwise.com/register?i...onsumer&context=signout_page&cta=nav_signup#/
for trading with trusted people, its cheaper than PayPal
better exchange rates
I keep everything in AUD only in my PayPal account. It costs me zero to withdraw it to my bank, so it works for me. As for overseas transfers I use Transferwise and they give you the best rate compared to any bank or any other transfer company, no matter what angle you try their end rate is the best. I use to my Citibank Plus account for overseas transfers as they were free and the rates were not too bad. There are ways to limit your fees. I haven't paid bank fees in Australia for 20 years or so. Very easy here, if they charge you, you walk and change banks to one that doesn't. I've got an account where you can transfer 100K online free of charge, you don't need to carry around suit cases of cash anymore. I never have and never will, too risky.
the robber want your mobile phone, they can steal and rob for that information and control the money transfer
PayNow can transfer $200k each day, so be very careful where you carry the mobile, that is the same as access to your bank balance
scan the QR code and pay, so need not carry cash, but still have to bring back the metal
unless both buyer and seller has vault to vault transfer facility and PayNow, oh it is as fast as wind
I don't use my mobile for banking. I use a PC at home with heaps of antivirus, top router, very well protected.
PayPal shares fall as sales outlook misses Wall St expectations
By Anna Irrera
NEW YORK (Reuters) - PayPal Holdings Inc shares fell almost 4 percent in after-hours trading on Wednesday after the online payments company forecast revenue for the current quarter short of Wall Street's expectations.
For the first quarter, PayPal said it expects revenue between $4.08 billion and $4.13 billion, falling short of analysts' average $4.16 billion (3.17 billion pounds) estimate. The company reaffirmed its full year outlook.
For the fourth quarter that ended in December, revenue rose to $4.23 billion from $3.74 billion, just missing analysts' average estimate of $4.24 billion, according to IBES data from Refinitiv.
Excluding one-time items, PayPal earned 69 cents per share, beating the average analyst estimate of 67 cents.
Net income fell to $584 million, or 49 cents per share, in the fourth quarter, from $620 million, or 50 cents per share, a year earlier.
Shares of the San Jose, California based company were down 3.7 percent at $89.00 after the bell on Wednesday.
PayPal separated from e-commerce platform eBay in 2015 and has since focused on broadening the types of services it offers to consumers and merchants, making a slew of acquisitions and partnerships.
The revenue miss in the fourth quarter was due largely to slower growth than expected for payments processed for eBay and unfavorable foreign exchange rates, PayPal executives said on a call with analysts.
"EBay is slowing, but the rest of the business is accelerating in a big way," CEO Daniel Schulman said in an interview.
PayPal added a record 13.8 million new active accounts in the fourth quarter, compared to an increase of 8.7 million a year earlier. Around 2.9 million of those accounts were added through acquisitions.
The company processed $164 billion in payments over the period, up 23 percent from a year earlier.
Venmo, its peer-to-peer payment app popular with younger consumers, processed $19 billion of payments in the fourth quarter, up 80 percent from the same quarter a year ago.
PayPal said it had made progress in plans to cash in from the app - whose basic peer-to-peer service is free - through initiatives such as the Venmo debit card and an instant cash out service.
The company predicts that Venmo will contribute $200 million in revenue in 2019, Schulman said on the analyst call.
PayPal Chief Financial Officer John Rainey added that the company does not expect Venmo to break even in the next quarter or two but that there was a "line of sight to that with what we're doing."
(This story has been refiled to corrects the spelling of Schulman in the ninth paragraph).
(Reporting by Anna Irrera; Editing by David Gregorio and Bill Rigby)
The banks are the masters of money laundering ...
I just installed PayLah, it's really scary, just one password. Luckily I'm using a fruit phone.
this is nothing compared to Alipay
there are much more in Alipay than just electronic wallet, there are > 900 millions users already
check their web page
Funny in HK, they don't use alipay? I see people paying by cash all the time. It helps prevent dementia if you need to count.
Jeez. Beginning of the end for cash.
So scrap that 5 minute payment plan idea.
At least they aren't saying cash or negotiable items to the value of $10k.
................ is this why gold is going crazy?
This makes me really angry......!!!! This will not stop or even slow down people that are currently doing dodgy things... it just make is more annoying for honest people.
now all banks are no more, all yours are no longer yours
Email: [email protected] with the subject line:
Submission: Exposure Draft—Currency (Restrictions on the Use of Cash) Bill 2019
This may seem a bit out there but if they are concerned in money laundering, terror blah blah.. why dont they change the denominations up. Make coins the currency with high value and the notes with low value?
I have always wondered why the lowest face value items have the highest intrinsic value.
If the $100 coin was basically the same as the current 50c piece then $1m in cash would no longer weigh 10.06kg it would weigh 155.5kg try moving that around off the radar!!!
Because the data clearly shows they aren't concerned about those things. They're only concerned with creating a globalist financial control grid where there is absolutely no privacy, and no escape. Everyone knows the real money laundering and crime happens with the bank's digital systems, usually involving multiple billions of dollars. The amount of physical cash involved in money laundering, terrorism, and tax evasion is minimal.
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