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wicked1

Fleamarket and Bank Transfers

16 posts in this topic

I'm wanting to purchase something from someone here in the fleamarket, and they want a bank transfer.

My bank doesn't like doing them. I have to go to the main office, wait for a banker (not just a teller, but someone to go into an office and sit down with). And, the last time I did it, they were hesitant to even do it, and kept telling me "these are usually used for much much larger transfers". Oh, and they charge a HUGE fee.. $60.00 just to do it, and then some % of the transfer amount on top of it.

So, this seems excessive. Is the seller asking too much of me, or is my local bank the problem?

I basically want to know how other people handle international payments, and if bank transfers are standard... even if my bank doesn't think they are.

Thanks!

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Paypal seems to be the easiest way to do things like this.

Yes they take a cut and charge a fee but its less than a bank.

What about one of those money transfer places?

I've never understood why the cost is so great, surely its only tapping a few buttons on a computer?

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In Europe it's not uncommon to do a bank transfer. But then it is relatively easy and without any cost nowadays. In this case it sounds like it's easier to use paypal.

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He says he does not use paypal. Obviously that would be ideal. I've asked if he'll take western union or moneygram... Waiting to hear back.

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Actually, they'll take paypal if all else fails. (people here are great!) (I dont like paypal either, but they are the easiest)

Interesting to know bank transfers are basically free in Europe. Also, I heard back from a friend and they can do transfers online with their bank and pay a $40.00 fee.. That's much better than my bank, but still not great.

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Ah, remember a lot of European countries use the same currency (at the moment!), which should make cross border trade easier.

Paying any kind of fee to a bank seems wrong to me, but to transfer funds from one account to another must be easy for them.

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Good point... Local/US bank transfers are free for me.

And, the extra cost at my bank (vs larger US banks) is probably paying for the bankers time at the office.

I'm usually happy I'm with a small local bank, but this is one case where it's a disadvantage.

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If you were paying into their bank they would be able to do it for free!

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Tank God Sweden doesn't have the Euro or US Dollar. All those coins could have stayed in the 17th century tongue.png

However, this means that a bank transfer to the Eurozone costs something like 10-30SEK. By law it can't cost more, but the sheer inconvenience! You have to know routing codes, the address of the recipient's bank and correctly write down numbers which are longer than will fit on a 2TB HDD.

I'll take PayPal, Payson (local Swedish variant with escrow) or Google checkout any day! Plus most companies take this convenient invention called a card. Welcome to the 1970's! The transfer method is too cumbersome, so I'll just take my business elsewhere. Life is too short... frantics.gif

Edited by jojjelito

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I see a pattern there.

Money goes from europe to america: cheap and easy

Money goes from america to europe: expensive

It's like a check valve for money flow.

Protectionism FTW!

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I think it's only yet another example of the little bank emulating the crook methods the bigger banks use. It ranges from extortionate fees to sheer economic terrorism (Goldmann Sachs et al, looking at you!).

One could argue that the card companies wanting a cut out of every transaction, or PayPal etc do the same thing. But, their fees are less. Wish more people had the decency to accept PayPal or something similar and told the buyers to pay the fee (gifting money thru PP etc) if losing a small amount of money is that much of a trauma.

Telling the banks to GTFO is the only way to make them adapt to the 21st century for smaller customers too poke.gif

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Yep, I started my paypal account back when I started to deal a lot on ebay. It is by far the best and easiest way I have used to handle money transfers. And the little fee paypal claims is really nothing to talk about. If one cant afford to pay whatever is included - shipping / handling fees I would say the best thing is to mow another lawn and you're there ;).

Bank transfers may be common in eu, but is a hassle to do from outside, but it's probably harder to see the problems with this from within.

So my proposal to all of you who doesn't use paypal - get an account :) and make it easier for everyone :P.

But of course, that's just my opinion. But since the question was there, I thought I'd say what I think :).

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1) Find someone in the country of the seller, and ask nicely if they'll forward your paypal money.

2) Pay via paypal

3) Wait for the friendly person to do the bank transfer

4) get stuff

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@ nils' post: This forum lack the "like" button ;).

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why do not you try use bank online? it's faster

Edited by kenhoana

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Depends on the bank. Some of those don't accept international money transfers made from the on-line banking.

Some, like mine, do.

Also, parts of the EU don't use the Euro so it might complicate matters. Other countries in Europe aren't part of the EU. Banks in the US, Canada, Oz, etc follow their local set of rules related to international transfers.

The point here might be that PP handles this for you. With your bank YMMV.

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