Just wanted to share a really bad experience I just had:
I got an international payment refused (use of SWIFT/BIC) because the system in the background was not the right one (SEPA vs SWIFT).
In short, no way to check whether the info you typed in is correct when doing the payment.
the money came back, but with a fee of 50EUR immediately debited from my account with a message saying more could come. …
I wonder if starting making a list of such bad experiences and reply with “zcash fixes this” would be a good promotion tool …
Years ago i had a similar situation and got taxed than back Euro 20. Sux of course but after all it was my mistake by typing a wrong Swift and Bank account.
By today if you make a european payment (EU countries) it’s safe to use only SEPA, actually someone should only use this.
But to add a very fresh bad experience from last week. We made an advance payment for a timber crane and my secretary made the first payment using SWIIFT (no matter i told her x times to use SEPA!) and we got taxed a fee of 750 Euro by the intermediate correspondending bank, how is this? But than again, our internal mistake as a bank transfer from one EU country to another EU country with SWIFT is an absolute no-go by today.
But yes, it would be a good promo tool that nobody has to deal with SEPA/SWIFT/whatever and have only low fees.
The bad thing, to be honest, is if you mess up the recepients wallet number everything is lost and not just Euro 50 or 750…
I can’t choose in my netbank whether I want to use SEPA or SWIFT. After asking y bank, they have no clue of SEPA and only use SWIFT … And it is a big bank…
About messing up with the recipient wallet I kind of agree.
However, I had to copy/paste: BIC, SWIFT, Name, Address of the recipent. Higher risk of doing a mistake.
I could have just copy/pasted a zec address…
I’m not sure where and how it was called (I hope I didn’t dream) but I understood that some people involved with zcash are actually working on something that could solve this…