Department of IPID Money Transfer
Department of IPID Money Transfer, Almost daily I get IP / ID or also IP / IP contracts. However, the fewest people have basic knowledge why these contracts can not be executed.
The processing of these transactions is as follows:
1. Sender & Receiver agree the contract and the distribution
2. Both parties submit the contract to their bank
3. Both bank officers get in touch and send on the safe bank way (MT) a fresh server screen to each other
4. Now both bank officers have absolute security to communicate with a bank
5. Now the sender & receiver and the contract are subject of a compliance and now the big problem is revealed
6. If everything is okay, the sender bank puts the money from “off balance” to “on balance”
7. The transfer can start
The transfer does NOT happen in 99% of all cases, because no bank permits 5%, 10% or higher commission – and this is a fact! Banks allow a maximum of 2% total commission distributed to the sender group and receiver group.
So if you agree a higher commission, then this is only possible with a payorder outside the contract. A maximum of 2% of the total commission may be agreed in the contract which the banks receive.
But why hardly anyone knows this?
Quite simply, hardly anyone has the experience and hardly anyone has ever been so far to start a transaction. We are currently in a transfer.
One more note to intermediaries:
We have no problem with intermediaries. But we have a problem with greedy intermediaries, if they destroy every business, but they dream of big money. Should the big deal remain a dream or should it be real? If I see that individual intermediaries enter into the contract with incredibly greedy 5%, I wonder whether to buy Facebook or Microsoft. Unfortunately many mediators destroy their own dream and block their own way.