Many banks waive the wire (SWIFT) transfer fee based on the size of your relationship. If you are paying a fee, you might inquire if you can get it waived if you had a slightly larger deposit balance (or were just in the correct type of account).
And of course, if you are paying a fee to transfer money today, you are very likely to pay a fee to transfer money under any other system. Twitter isn’t going to provide that service for free - especially when it can easily be monetized. They are either going to charge you a fee, a spread, or both.
Seems like in hindsight, it might have been easier and cheaper to have built such a company from scratch than to buy one for $54 billion - that also includes $18 billion in corporate debt.
My ‘relationship’ with banks is as small as possible!
Thanks for the advice. I generally dislike banks and use them as little as possible. My current bank is pretty good, an online bank, subsidiary of a larger commercial bank. They don’t charge me any fees except for transferring money in and out which I do very seldom. When I transfer money from by brokerage account it’s a large sum and the fee as a percentage is small. My condominium payments happen less than once a year so it’s not something worth worrying about. Were it on a more regular basis I would look for better solutions.
You know how you can’t turn away from a train wreck that’s about to happen because the carnage and destruction is both awesome and a terrible waste? Musk and Twitter is like that.
I would point out that bypassing the SWIFT system in order to transfer funds flies directly against the national interests of the US government and there may be significant push-back.
When it comes to money Uncle Sam is not a nice 800 pound gorilla. Uncle Sam’s principal ‘national interest’ is the defense of the dollar’s world wide reserve currency status.
Chuckle And Bezos bought the Washington Post to protect free speech too.
The irony in this is the fact that one of the first things Musk did as owner of Twitter was to post a completely false story about Nancy Pelosi’s husband fighting with a gay prostitute. Yay for free speech!?!
Interesting coincidence that Musk purchased the one company that had previously cost him millions in fines and punitive federal regulation due to his prior “free speech.”
If you’re selling NFTs, or really just about anything, you should use all sales channels that are cost effective. There’s no need to choose only one of the social media platforms. There are even tools out there that allow the simultaneous use of all the major social media platforms. Remember, when you’re selling an NFT, you need one buyer for it, and it doesn’t make much of a difference if they discovered it on twitter or on insta. A sale is a sale is a sale.
How do you know it’s completely false? When the news first came out it sounded very fishy to me. Now that the narrative is under wraps we’ll never know the truth.
Innocent until proven guilty but I don’t trust politicians, specially the ones in power.
