Steve,
Although you are correct in stating that sometimes these transactions go
wrong (i.e., do not arrive), it would be entirely wrong to assume this
happens often or even often enough to consider not using them.
The SWIFT computer system is currently running at a reliability rate
approaching five 9's (99.999% up time). The most common cause of failure is
human failure. People make mistakes entering all the numbers.
If you follow a few basic procedures, you can minimize the chance of
transfer failure:
* Double check all data entered
* Print the onscreen completed transaction confirmation to a file
* Forward the file immediately to the guy receiving the money and
ask him to check it
* Have him check his bank statement regularly during the period the
money is expected to arrive
I do at least a hundred of these each year and to and from several
countries.
I have never had a transaction failure that was not due to human error.
We do not use checks in Germany. No checks. Just bank transfers (wires).
There are millions of these executed daily and none of my friends ever
complain about something going wrong.
Bottom line, it's the fastest and safest thing going.
73
Rick
-----Original Message-----
From: tentec-bounces@contesting.com [mailto:tentec-bounces@contesting.com]
On Behalf Of k9zw@mac.com
Sent: Tuesday, April 10, 2007 5:28 PM
To: Discussion of Ten-Tec Equipment
Subject: Re: [TenTec] international
On Tuesday, April 10, 2007, at 10:20AM, "Bill Tippett"
<btippett@alum.mit.edu> wrote:
>
>
>A wire transfer usually takes less than 6 hours to complete.
For what it is worth I have personally had large wire transfers "go astray"
and take three plus weeks to sort out.
Like many of these systems, when something does go wrong it can take a while
to sort out manually.
73
Steve
K9ZW
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