Transferring $ from US to Peru

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adrian Thorne
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Re: Transferring $ from US to Peru

Postby adrian Thorne » Thu Aug 23, 2018 2:34 pm

fanning wrote:We have the same thing with transfers from the USA. it has to do with the fact that the banks use 'intermediate banks' which also charge a commission. In total the commission is like 81-89 usd. But on transfers of 6-9 thousand it is percentage wise a low cost compared to charging a credit card, which has a 4-6% commission.


Now this is only an observation. The intermediary bank used for transferring funds from the UK in ''DOLLARS'' is listed as being The Bank of New York within the USA. This begs the question as to why you would have to pay for your bank to walk to the next block, rather than send it direct and possible show a good saving on these commisions.


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Re: Transferring $ from US to Peru

Postby 69roadrunner » Thu Aug 23, 2018 6:00 pm

adrian Thorne wrote:
fanning wrote:We have the same thing with transfers from the USA. it has to do with the fact that the banks use 'intermediate banks' which also charge a commission. In total the commission is like 81-89 usd. But on transfers of 6-9 thousand it is percentage wise a low cost compared to charging a credit card, which has a 4-6% commission.


Now this is only an observation. The intermediary bank used for transferring funds from the UK in ''DOLLARS'' is listed as being The Bank of New York within the USA. This begs the question as to why you would have to pay for your bank to walk to the next block, rather than send it direct and possible show a good saving on these commisions.

The Bank of NY was established shortly after, the Americans kicked the Brits out, by Arron Burr and the first Secretary of the Treasury Alexander Hamilton. Since the dollar is the worlds currency they act as as an arbitrator (if you will) as to the worth of the dollar. In your case, adrian Thorne, a UK bank is in no position to determine the conversion rate or worth of the dollar as Peru is not. That task falls to the owner of the dollar. As is true with all commerce, it comes with a price, nothing is free in our world. That is why you pay that additional fee.
You may want to try to send pounds thereby bypassing the US.
Once again my Forefathers proving to be revolutionary and farsighted.
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Re: Transferring $ from US to Peru

Postby adrian Thorne » Thu Aug 23, 2018 6:35 pm

69roadrunner wrote:
adrian Thorne wrote:
fanning wrote:We have the same thing with transfers from the USA. it has to do with the fact that the banks use 'intermediate banks' which also charge a commission. In total the commission is like 81-89 usd. But on transfers of 6-9 thousand it is percentage wise a low cost compared to charging a credit card, which has a 4-6% commission.


Now this is only an observation. The intermediary bank used for transferring funds from the UK in ''DOLLARS'' is listed as being The Bank of New York within the USA. This begs the question as to why you would have to pay for your bank to walk to the next block, rather than send it direct and possible show a good saving on these commisions.

The Bank of NY was established shortly after, the Americans kicked the Brits out, by Arron Burr and the first Secretary of the Treasury Alexander Hamilton. Since the dollar is the worlds currency they act as as an arbitrator (if you will) as to the worth of the dollar. In your case, adrian Thorne, a UK bank is in no position to determine the conversion rate or worth of the dollar as Peru is not. That task falls to the owner of the dollar. As is true with all commerce, it comes with a price, nothing is free in our world. That is why you pay that additional fee.
You may want to try to send pounds thereby bypassing the US.
Once again my Forefathers proving to be revolutionary and farsighted.


Very interesting and quite right. It is a shame it did not apply to the observation I made. It also does not apply to posting related to transparency.
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Re: Transferring $ from US to Peru

Postby 69roadrunner » Thu Aug 23, 2018 6:45 pm

Thank you but What is, exactly 'transparency? I have always been perplexed by that word seems it only popped up, in this context a year ago. What does it mean to you Thanks

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