Silk Road forums
Discussion => Off topic => Topic started by: swch on December 10, 2011, 09:23 am
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Hi folks!
We use mt.gox to exchange BTC to US$.
Now we want to get the US$ from mt.gox to a EU bank account. About 10 transaction per month.
What is the preferred way to do so. Fees should be low. Transfer time up to 5 working days.
Is it better to have a US$ Account (comdirect.de and bank24.de) or a € Account?
Mt.Gox offer International Wire "(usually there is ~15 USD for us to send funds, could be up to 25 USD of intermediate fees depending on your bank's routing, and reception fees depending on your bank)"
Question:
If we choose US$ (mt.gox US$ to US$ account) will it be:
1) straight transferred without exchange? e.g.: 1000US$ - 15/25US$ = 985-975US$
2) exchanged to € (~1% fee) - transferred (15-25Us$) - exchanged to US$ (~1% fee)? e.g.: 1000US$ - 10US$ -15/25US$ - 10US$ = 965-955US$
As we plan to have 10 transactions a month, the fee difference is 20$ * 10 =200US$ a month. The less fee we have the better prices we can offer.
Any suggestions, ideas or experience are welcome.