I spent the last 3 hours managing my fiat accounts, and let me just sayβ¦my head hurts.
Discussion
I'm continually stunned and angered by how slow fiat is, how difficult it is get access to or move my money, how many fees they charge for me to use or move my money, and in general at the overall experience. Now that I've seen the light I can't believe how many people think the fiat system is fine and works well. The general attitude of fiat seems to be "screw you, we have your money now we are going to treat it like it is ours and we'll make it as hard (and costly) as possible for you to get it or use it."
3 hours? You must have millions π
Ha! If only. I spent the first hour just resetting passwords from old accounts I hadnβt logged into in over a year. Some of them had changed their names or been acquired by other companies. One locked me out immediately and I had to call and wait on hold to get them to manually reset my password. Then I had to call another one because they literally deleted my online account access when they migrated to another management platform. All this just to be able to move the money to another account so I donβt need to have so many different logins just to get my annual statements.
i'm in the process of verifying two small deposits with one of my banks so I can send money to another bank. so outdated.
how difficult can it be? π€
So. Many. Different. Rules.
teach me, iβll be your assistant
Here you go. Good luck!
https://www.finra.org/registration-exams-ce/qualification-exams/series7
KYC and AML for you. Plus transaction limits, computer might say no, then human checks, clearing times etc etc. I know your pain.
I feel you. Iβve been waiting 3 days for a transfer from one bank to another. Both in the US. π₯΄
Three days, LOL. It takes two or three weeks to move an IRA between two brokerage accounts.
LOL, Iβve waited 7-8 business days for a simple ACH hahaha
But 3 weeks sounds insane dude, Stone Age. A hardware wallet with Bitcoin shipped from USA to Latin America gets there faster
They charge you $50 to mail a physical check and $75 for a wire transfer. And if you want a check they tell you that they arenβt responsible for it if it gets stolen in the mail.