That should be Western Union of course ... can't find their list of fees, got it around here somewhere ... it goes from around 10% for small amounts like 200Cdn down to around 4% at the 10kCdn level ... that's just from memory, and they have a loonie/peso spread on top of that, but it is very low, can't remember the figure but it impressed me after other operations ... of course with Western Union they are providing a delivery service mainly, and in México it works well as they have a deal with the Electra appliance chain, among other chains, throughout the country ... very slick operation, you give them the money and fill out the paper identifying the recipient, then as fast as you can phone the receipt number to the recipient the money is there.
But it is too expensive to use for other than urgent and small amounts, of course ... we've used the bmo.to/Bancomer system more, but have had problems with it ... one time we got ripped off in transit, turned out it was probably by a third party and not the little provincial branch of Bancomer who i had first suspected ... but in the course of investigation Bancomer was not very forthcoming with the transaction records ... this i found unacceptable, and happened to be in el DF a few weeks later so i made a scene at their head office ... didn't do any good but i treasure the memory -g-
At that time, about two years ago, bmo.to/Bancomer was working both spreads, Cdn-US, then US-peso, each approaching 2%, then a 'transfer fee' on top ... they were saying about a year ago that they were soon going to change loonies direct to pesos, but i don't know if they do yet ... only sent a couple of small amounts since then, used Western Union ... Bital, another mexicano bank, has some deal for US-peso that is supposed to be quite efficient and competitive, but i don't think they have an arrangement with any canadian bank ... last i heard, anyway
Toby Chu is the president of cpt.v ... here's a links package for the company - Message 15273371
... i should update this post, major developments have occurred in the last few weeks ... this is my biggest position at the moment, Claude ... worth a look, imho ... tough market for a concept like this now, but they are building the company in substantial ways and will get rewarded when the overall mood gets brighter ... i've had some qualms about it recently, but no more after they signed the direct access deal and opened up the seglobaltrader.com site.
goldcurrencies.ca - nicely laid out, my compliments to your developer ... you will be acting as a cambio yourself?
How about a thread entitled 'Barbarous Relic Goes Digital', lol ... i like the concept very much ... two reservations - 1. it will work well only when it's widely accepted, and 2. the guvmints aren't going to like it, it's a concept that frees the individual, if/when it becomes widely accepted they'll try to regulate it out of economic practicality |
