Look, it’s laying out your choices right there. You can just roll with what it says, or hit "more options" to—I'm guessing—tweak things or shut them off entirely...
Only if they start slapping fees on incoming transfers from America too (it’s not out of the question that some banks might actually figure that out)...
Yeah, looking at the terms, there’s absolutely nothing mentioned about that. There isn't even any kind of verification process; I've actually got the exact same cards and accounts linked to two different Venmo profiles...
ironcyclist58 said:There's probably a massive line of retirees hitting up the teller windows...
Up until now, they offered free account management for anyone over 65, but now they’re stripping that away and forcing them to pay the standard rate (which is jumping from $9 to $4.00). Between that and this new fee just to talk to a teller, they're basically taking a direct shot at seniors... 👎
It’s also worth noting that starting April 19, 2020, they’ll have to start showing the markup percentage against the benchmark rate for DCC. Can't wait to see that 10% figure pop up on the screen 😬 ...
My bad, I got the date wrong. It’s not starting in November, it’s actually December 15th (link)
(...) The EU Regulation No. 924/2009 is being updated as follows: (...) Article 3 is amended to read: (a) paragraph 1 is replaced by the following: "1. Fees charged by a payment service provider to a user for cross-border payments in euros shall be equal to the fees charged for equivalent national currency payments within the member state where the service provider is located." (...) Effective as of December 15, 2019. (...) This Regulation is binding in its entirety and directly applicable in all member states. (...)
SEPA transfers are going to cost about the same as domestic wire transfers in dollars. So, it won't be totally free, but it certainly won't hit you with $30 or even $27. On the bright side, receiving them will be free...
Kevin Morris12 said:So, it looks like it’s actually happening after all. That's great news.
If I were calling the shots, here is what I’d really want to see included in this service: - A unique US routing number and account number for every user - Free domestic wire transfers (both incoming and outgoing) - Full Apple Pay support
But honestly? I have a nagging feeling they won't deliver on any of those three things.
At the end of the day, we desperately need more homegrown services like this. So many platforms are still geo-blocked, and we really need a reliable American card or bank account to bridge the gap where international services are currently lagging far behind.
They’ll hold out until November, then everyone will be doing it...