Quote from: CyberPhunk on March 10, 2012, 03:48:22 AM

So, instead of a transfer of $50(minus fees), I lose that $50, and am being held responsible for a $50 fee the bank levied because the transfer failed! I'll get back ~$25 of the failed transfer, and lose ~$75 in fees

Wouldn't it be great if there were a method of transmitting money internationally that didn't need identifiers like SWIFT, IBAN, ABA, etc, And wouldn't it be great if the fees for executing the transfer were less rapacious? Additionally, wouldn't it be great if the information about the transaction was available so that the person sending the money could personally confirm that the funds went through or not, rather than having to get information secondhand through some financial institution. Or better yet, skip the financial institution -- put it right on the Internet so people could send the funds from their own computer or mobile?

Ha, ya! That's a really cool idea. Someone should invent it. Grin