[LGM] Transfer Methods

[Frank Trampe]

Friends and family seemed like the category closest to what we're doing
(specifically, a transaction for which buyer protection does not apply).
I'll call to see whether we're allowed to use it for something like this.


On Wed, Nov 29, 2017 at 12:22 PM, Jehan Pagès <jehan.marmottard at gmail.com>
wrote:

> Hi!
>
> On Wed, Nov 29, 2017 at 7:02 PM, Frank Trampe <frank.trampe at gmail.com>
> wrote:
> > I know that it seems premature, but knowing in advance what the transfer
> > options are informs our planning. Assuming that the taxes for a European
> > organization aren't any worse than for an American organization, there
> will
> > be a question as to whether it's more efficient to have one on each
> > continent or not, and the administrative complexity of intercontinental
> > money transfers will weigh on that.
> >
> > PayPal charges fees for selling and for using credit card, but I think
> that
> > the fee for a non-sale transfer (assuming linked bank accounts on both
> ends)
> > is in the range that I described. I'll double-check later today.
>
> Actually I don't think Paypal has the concept of "reimbursement of
> travel" for its transfers.
>
> Paypal has mostly the concept of selling and buying with rates between
> 2.5 to 5% depending on your country and the country you send to.
>
> It also has the concept of sending money to "friends and family". And
> these have very low rate (they are even free when you send for
> instance from a EU country to another). Maybe that's what you were
> thinking about when you wrote about fees under 1%. But I would highly
> discourage trying to trick the system because we definitely can't
> consider than reimbursing people is the same as "sending money to a
> friend". My politics on these stuff is to do all by the rule.
> See: https://www.paypal.com/us/webapps/mpp/paypal-fees
>
> Alternatively (this is not on the main page), there is the concept of
> donation to non-profit which still has 2.2% of fee (so basically this
> is obviously the lower rate you can get since that's meant to be a
> discounted fee): https://www.paypal.com/us/webapps/mpp/donations
>
> Basically the kind of transfer you are planning are not listed as
> possible actions by Paypal.
> If you want to carry on reimbursement through Paypal (especially if
> you have a lot to perform), I would highly advise to contact them
> directly and ask them if and how you can carry on such task. You don't
> want to see your Paypal account blocked with all the funds in it.
>
> Jehan
>
> > What platform would you use for one of these cryptocurrency transfers?
> And
> > what's the user experience on each end?
> >
> >
> > On Wed, Nov 29, 2017 at 11:46 AM, Joao S. O. Bueno <gwidion at gmail.com>
> > wrote:
> >>
> >> On 29 November 2017 at 15:33, Frank Trampe <frank.trampe at gmail.com>
> wrote:
> >> > Unless we run multiple organizations (one in North America, one in
> South
> >> > America, and one in Europe, perhaps), it will be necessary to disburse
> >> > money
> >> > across the Atlantic. The European and American banking systems are
> >> > rather
> >> > different. Europe uses IBAN transfers and shuns checks; the United
> >> > States
> >> > uses checks and lacks IBAN support. SWIFT transfers would work, but
> they
> >> > are
> >> > expensive, so we probably need to look at outside services that can
> >> > route
> >> > between banks.
> >> >
> >> > What are people's thoughts on these?
> >> >
> >> > PayPal Bank-to-Bank (0.5% to 2%)
> >>
> >> Paypall actually take a 6% gross share from whatever is paid through
> them.
> >> They can be "simple" but they are not cheap
> >>
> >>
> >> > Transferwise (1%)
> >>
> >> Transferwise is good!
> >> It has some restrictions, I don't know if in all countries, but,
> >> from Germany a Company could not use Tranferwise to send
> >> money to my Company in Brazil.
> >>
> >>
> >> > Western Union Bank-to-Bank ($10)
> >> This seems to work, but as the only time I actually used it, it was so
> >> much bureaucratic burden on my end, I would save this as last option.
> >>
> >> Cryptocurrencies:
> >> Dave mentioned en passant that "bitcoin transfers are expensive".
> >> They are not. And even if they are, one can use other of a number of
> >> cryptocurrencies, like Ethereum.
> >>
> >> I've been using that professionally: it is a fraction of cost, and 0
> >> time money transfer -
> >> it is just that, in some cases, the recipient will have to know how to
> >> cash it.
> >> Not even in all cases. In Brazil, for example, there is a service that
> >> can take any amount
> >> in several of these cryptocurrencies and pay immediately any bank
> account.
> >> The major drawback of using crypto, IMHO, is for the sending entity
> >> justify purchasing the
> >> cryptocurrency as part of the refund (or other payment) process . That
> >> initial purchase is everything
> >> that would show up in any tradicional accounting methods.
> >>
> >> I'd say that among these 5 options, this is a settled matter until we
> >> have to actually make
> >> any of thes e transfers.
> >>
> >>   js
> >>  -><-
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> >
> >
> >
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>
>
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