I send money to Thailand through my bank,the exchange rate is robbery, the fee is $35 AUD and it clears in my Thai bank account after 3 or 4 days.Larger amounts are held up in the main branch in Bangkok while they check for money laundering or something.l found Charles’s comments hilarious on this occasion. The banks are dinosaurs desperately trying,as Charles said, stay relevant.Interfering with the progress of crypto, refusing to open bank accounts for crypto involved services.They know sweet FA about this new asset class.The train has left the station world banking system and you can’t control it or stop it.
This is actually one of the best use cases for crypto. This is the primary use case I would add, in terms of practicality, usefulness, and disruption. Western Union will soon be out of business and banks will stand to lose a lot of transaction fees.
- bargaining <==== JP Morgan