Dear Friends, A few quick notes.
With regard to bank wires, JP's reply is true, but not necessarily highly informative. Reversing a bank wire can be time consuming if you want it done, and the bank is likely to be more uptight about it, and charge higher fees, than if the bank is stopping payment on a check, in my experience. Experiences with wires being reversed: I've had none. Now, I don't accept bank wires from just anyone. For example, I've gotten wires from OmniPay from time to time when I wanted to move balances from e-gold to domestic banks or European banks. The best way to avoid having a wire reversed is: get it from someone you can trust. Based on my actual experiences with them, I trust the people at OmniPay. Second best way to avoid having a wire reversed: keep the balance low. That may not cause the bank to refuse to reverse the wire, but it does limit your actual exposure. If you get a wire for $50,000 from someone you don't trust, as JP suggested he once did, keep the balance in that account as close to zero as you can. I realize that doesn't keep you from having a liability with that bank, and other problems, but I'm trying to offer practical advice. I do think there is some risk with wires. But, I've experienced far more bounced checks from "customers" who either were thieves/fraudsters or had a serious deficit in arithmetic. As far as sending wires, I've never had a problem. My bank sends wires, they never come back. Now, I don't for sure all the specifics, but Paul Vahur's experience suggests that some wires may be interdicted in transfer. Why? Well, one reason is all this "know your customer" nastiness with USA banks and their ilk overseas. I think the amount $4,000 is the current "tilt" bar for such issues. For example, a friend once wrote me a personal check for $10,000. My bank held it for two weeks pending "clearance" not from his bank, but from the federal government authorities. Why? Had it been for $9,999, I was told, it would have cleared through in less than 2 days. But, "this large amount" was "suspicious" and "had to be checked out." You can imagine the officious tone with which those phrases were spoken, and my outrage at such treatment. But, hey, what can you do? Start your own country? Start your own currency? Oh. Yeah. I guess you can! <grin> With respect to (WRT) Nick's point: >it will get there eventually. Seems likely. But, with bankers, you just never know. Which is why the instant-clearing nature of e-gold transactions is such a blessing. WRT writers on this list posting to the e-gold forum on FreeMarket.net, I think Jim Ray is mistaken. I've posted there a number of times, both recently and in the years long past. Regards, Jim http://www.two-cents-worth.com/?101468&EG don't applaud. Just spend gold! --- You are currently subscribed to e-gold-list as: [email protected] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
