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Insane Bank Charges

Discussion in 'BlackHat Lounge' started by steelballs, May 15, 2013.

  1. steelballs

    steelballs BANNED BANNED

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    Insane Bank Charges

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    A client was told by a UK bank that they could transfer $100USD approx £65 UK Pounds from bank in England to bank in Spain, then the bank said they can send as long as he pays £15 UK Pounds in bank charges…

    Insane!

    What a Rip Off…

    Banks worldwide just crooks…
     
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  2. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

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    Why is that a rip off? It's an international transfer and usually has to go through an intermediary bank, I doubt they make much of a profit on the £15... if £15 is such a deal breaker use something like Paypal or set yourself up properly with a CC processor. What is more of a rip off is their spread on FX, but that's easy to get round using a decent FX broker (assuming you do a reasonable volume).
     
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    Last edited: May 15, 2013
  3. nicofan

    nicofan Junior Member

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    to buy bitcoins I had to deposit money into a currency exchange (aurumxchange). I sent 120$ on the way from my Swiss bank to their bank in Poland. after two days I received the confirmation they received the 90$ I sent. ????? YES, the bank took 30$ as a fee! aurumxchange insisted it was not their bank (receiving bank) who took such a huge fee. I called my bank and they told me they only took 3$ as a fee (also showed on my statement). So it was the receiving bank who raped me out of my transferred money.

    little hint: If you transfer money between European countries use the SEPA transaction. I think it's only for EUR but my bank told me they charge only 20 cent or a very minimal amount per transaction.
     
  4. davids355

    davids355 Jr. VIP Jr. VIP Premium Member

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    I think they have minimum charges so on a small amount it would see extortionate.
    I sometimes take in cheques for between $100-$300 USD and I get charged about £20 for those.

    I thought this thread was going to be about overdraft charges which are extortionate - I recently got charged £70 fees for going over my overdraft 3 months prior.
    But when I contacted the bank, they refunded the entire amount!
     
  5. steelballs

    steelballs BANNED BANNED

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    Seven in ten customers are being ripped off by the big banks in a £500million-a-year scam, it was claimed yesterday.

    The accusation came from the Consumers' Association, which urged customers to have the courage to switch banks.

    The watchdog hopes to fuel a ' consumer power' revolution that will force banks to offer better value - or lose millions of customers.

    The move poses problems for the big four in the wake of successful public campaigns against mortgage rip-offs, overcharging on gas and electricity and genetically-modified food.

    Barclays, RBS-NatWest, HSBC and Lloyds TSB have been posting record profits, helped by high charges and poor value interest rates.

    Read more: http://www.dailymail.co.uk/news/article-112740/Big-banks-accused-500m-rip-off.html
     
  6. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

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    The DailyMail is hardly a reliable source for anything. I would agree they rip people off on a lot of things, but international transfers (apart from FX) is never really something I've had an issue with.
     
  7. scarinessreported

    scarinessreported Newbie

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    £15 is a bargain come back and complain when the standard fee is nearer £40 for a transfer
     
  8. steelballs

    steelballs BANNED BANNED

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    I agree but it was not the Daily Mail was it;)
     
  9. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

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  10. hpv222

    hpv222 Power Member

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    I get charged $20 per check, that is a rip-off.
     
  11. alexglo

    alexglo Junior Member

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    £15 only looks high because the amount is so small. I imagine the £15 fee is the same for anything under £2000 or something, and in that instance it would not be considered high.
     
  12. pathart

    pathart Senior Member

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    Thats why I only deal in large transfers :p
     
  13. steelballs

    steelballs BANNED BANNED

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    Yes exactly but they quoted the Consumers' Association as the source
     
  14. alexglo

    alexglo Junior Member

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    BTW that article is over 10 years old.
     
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  15. steelballs

    steelballs BANNED BANNED

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    Thanks that happens when the eyes are gone...

    But one thing is constant the banks have total disregard for account clients...
     
  16. prab1996

    prab1996 Elite Member

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    thanks every one for your precious replies .

    now bhw ranks #1 for insane bank charges , check it here http://bit.ly/11EAxAl
     
  17. Valefor

    Valefor BANNED BANNED

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    here in my place they only charge me $5 for paypal to bank and $0.20 per withdraw
     
  18. antsaoo

    antsaoo Supreme Member

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    Well as the CEO or w/e well the BIG BOSS of bank said that the account customers only bring dirt into the offices. These days the banks don't need your shitty 100k$ they can get it too cheap from central banks.
     
  19. Roparadise

    Roparadise BANNED BANNED

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    Why would you need to transfer money to a bank account in another country,if the amount would have a foreign atm or transaction fee of less than that?