Non-USA money concerns

[weirdami]

Can everyone in all non-USA locations tell me how much money costs in your country? I'm having problems selling things overseas because, from what I can gather, banks charge tons of money for checks or transfers so, in order to sell overseas, I have to either accept credit cards through Paypal or cash in the mail. So, I'd like to know what's up with banks in other countries. (Writing checks on my bank is actually free, so I'm wondering what the deal is.)

[odin]

Hit the nail on the head, cheques cost a fortune to cash here in NL. I think they're mostly an anachronism in most European countries. Australia still uses cheques IIRC. I once had a cheque sent from Australia sent to me, cost me something like 16EUR to cash. And that cheque was worth something like 30EUR :lol:.

Between EMU countries (EU countries who have exchanged their local currency for the EUR) there are no charges for banktransfers, i.e. great for EBay'ing :-).

[aardvark]

With my bank plan, I can get free bank drafts in Euro (I live in Canada), but people in Germany have told me that it is expensive to cash them.  I have found that the best way to purchase things in Europe (U.K. is not too hard) is to mail cash that I buy at Thomas Cook's.  Anyway who expects idiots to mail cash in the mail anyway?  :-D  That's probably why it's relatively secure.

[weirdami]

@aardvark

The problem with cash is the fact that there's no paper trail. If the envelope gets lost or stolen, the sender can't prove he sent it and the receiver can't prove he didn't get it. Even with registered mail, you can't prove that you even put any money into the envelope at all. No good for either side. :-(

@all

So, why so much to cash checks? And why are they an anachronism? I know (heard on TV) that in Japan, they carry loads of cash around, so is that the case with your guys' countries? Or, is the anachronism bit about you using credit cards for everything and cash is only used for vending machines (blue tooth coke machines not withstanding)?

Are European banks so strapped for cash that they gotta charge high fees for everything? (I actually wouldn't be surprised, what with socialism and taxes and the fairy tales I've heard about the multi-month paid vacations required by law.)

Someone know if it's possible to have 2 paypal accounts? If I'm gonna do overseas business, I'll want another account just for credit card transactions.

[Peggus]

weirdami wrote:
@all

So, why so much to cash checks? And why are they an anachronism? I know (heard on TV) that in Japan, they carry loads of cash around, so is that the case with your guys' countries? Or, is the anachronism bit about you using credit cards for everything and cash is only used for vending machines (blue tooth coke machines not withstanding)?

Are European banks so strapped for cash that they gotta charge high fees for everything? (I actually wouldn't be surprised, what with socialism and taxes and the fairy tales I've heard about the multi-month paid vacations required by law.)

No, european banks are certainly not so cash strapped they have to gouge their customers. They just really like to do it whenever and wherever they can

Fact is that (atleast in Sweden where I'm from) checks are very rarely used. Creditcards and ATM card are used for almost everything and direct bank transfers are used for paying bills.
Frankly I didn't even know how to sign a check before I came over to the US a few years ago.

Since there's no great demand for checks the banks can charge a lot for them, partly to cover the increased cost of processing the low volume of checks and partly because they like to gouge their customers whenever they can.

Socialism doesn't enter into it.

[weirdami]

Peggus wrote:

Creditcards and ATM card are used for almost everything and direct bank transfers are used for paying bills.

I'll have to look into bank transfers. Hopefully they're free, or at least really cheap, for overseas transfers. Is there anything involved that I should be aware of? I mean, isn't that how those Nigerians steal your money?

[whabang]

I mean, isn't that how those Nigerians steal your money?

No they steal money because some morons are stupid enough to give their account # to someone who contacted them by e-mail. // Connie

[weirdami]

@whabang

How's that different from selling things on comp.sys.amiga.marketplace?

[Orjan]

whabang wrote:

I mean, isn't that how those Nigerians steal your money?

No they steal money because some morons are stupid enough to give their account # to someone who contacted them by e-mail. // Connie

I fail to see how anyone can steal your money simply by knowing the accountnumber?

[Holley]

With an account number and your real address they can make money transfers direct from your account, by pretending to be a business you've made a purchase from.

In the UK there's no charge for using cheques, many people over 60 use nothing but cheques ;-) When I've mailed cash before I've sent it 'internation signed-for' - it's cheap, and provides feedback on weather the recipient actually got the envelope (and probably puts off some would-be thieves).  Don't know if the US has an equivalent though!

[EnyGmaTiK]

In Portugal, if the transfer is within the € zone, the transfer is free, but if the transfer is to a bank outside it they usually charge 30€!

[Holley]

Forgot to mention, IIRC an international money order costs £8, and should be cashable for very little everywhere.

[Acill]

~I've never got a check from a place other the the US, but here a US check is free to cash at your bank if you have an account or free if you take it to the writers bank. Wire transfers are next to nothing and is the prefered way I send overseas payments.

[weirdami]

@Acill

Wire transfers as in Western Union?

[asian1]

Hi
On some countries, you must get a permit for sending money overseas (foreign exchange permit). To get the permit may take several weeks.
In some other countries, If you send a large amount of money (US$ 10000 / more), the bank should register it to the police (anti drug/money laundering rule).