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.
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