Mark Mason
Well-known member
SWIFT Causes Headaches for Remitters, Cryptocurrency Offers Reprieve
SWIFT transfers are notorious for taking long and costing a lot, but this was highlighted when it was recently revealed that a UK charity could not get £11,000 to 36 orphans in Zambia after weeks of waiting.
The sending bank, Barclays, blames a lack of communication from the receiving bank in Zambia, but the charity organizers were just happy to get their money back after being in limbo. The issue was exposed during an investigation by the Observer, whom also discovered many similar experiences by other bank users. Typically, users can expect SWIFT to make transfers in a few days, but it can take as long as a few weeks depending on the country, which is not to even mention the extraordinary fees. At this rate it becomes faster to put the cash in a briefcase and hand deliver the amount.
Read more - https://dashnews.org/swift-causes-headaches-for-remitters-cryptocurrency-offers-reprieve/
SWIFT transfers are notorious for taking long and costing a lot, but this was highlighted when it was recently revealed that a UK charity could not get £11,000 to 36 orphans in Zambia after weeks of waiting.
The sending bank, Barclays, blames a lack of communication from the receiving bank in Zambia, but the charity organizers were just happy to get their money back after being in limbo. The issue was exposed during an investigation by the Observer, whom also discovered many similar experiences by other bank users. Typically, users can expect SWIFT to make transfers in a few days, but it can take as long as a few weeks depending on the country, which is not to even mention the extraordinary fees. At this rate it becomes faster to put the cash in a briefcase and hand deliver the amount.
Read more - https://dashnews.org/swift-causes-headaches-for-remitters-cryptocurrency-offers-reprieve/