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Strategies & Market Trends : Value Investing
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To: Jurgis Bekepuris who wrote (38138)6/2/2010 2:44:02 AM
From: Spekulatius  Read Replies (2) of 78748
 
Jurgis, yes bank transfers are common in West Europe. I had never written a check before I came to the US in my entire life - the overnight bank transfers are much safer, faster and more convenient.

I know some folks who use Paypal to transfer money in foreign countries but theer can be issues with the receiving bank. As far as the transfer of physical cash is concerned quite a few institutions could do that - the mail offices would be a natural way since pretty their are ubiquitous virtually everywhere. Cellphone companies are similar, if the counterparty has a cellphone they are going to have access to one of those stores, which also could handle the cash. I know that some cellpone companies in China (?) are looking into that - as this could become a nice side business.

FWIW I think that BofA provides a transfer service to Mexico but I am not sure how well it works. i think that Visa , Mastercard and the like also are natural players since they have already an ATM network in place. I really think there is no technical hurdle, all it takes is the will to do it and overcome a bias of some people who have always done it the WU way. but I think the new generation who grew up with cellphones and the internet will scoff what is out there and would try something better/cheaper/more convenient.
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