The fact that you have to create a trading account with the payment method of the seller in order to buy doesn’t make sense and is limiting volume significantly for no good reason. An IBAN in Demark is the same as an IBAN is the UK, or in Swtizerland, etc… IBAN is one thing that enables SEPA and WIRE transfers, it cannot have a charge back. Doesn’t make sense to separate them, i.e. SEPA (FR) or SEPA (AT) its all SEPA. If one wants one can make a wire transfer from the US from the FED (ABA) to Europe IBAN, as long as they pay the fee there shouldn’t be a problem.
Maybe I am not understanding the application, its just that it doesnt make sense to me that I can’t click on a trade because of the way the payment methods are separated, I think everybody should be able to pay from wherever they want as long its a method with no charge back possible, the important thing is the ID of the transaction. You guys have this great idea, create this beautiful application, and then limit it on the implementation, its a waste of potential.
I disagree, it’s the better safe then sorry approach. This is actually a wise thing to do when you deal with people’s money.
I guess what you tried to do is request a feature.
The problem with (US) WIRE transfers is that you can’t tell without a doubt that the bank uses a WIRE or an ACH transfer. While you’re right that WIRES are expensive but safe, ACH transfers are quite easy to charge back AFAIK.
If you’re right, and everything is safe, there’s no reason for restrictions anymore and it could be changed easily.
Ok on the ACH, but the separate IBANs for each country, whats up with that? There is like a few hundred transactions since 2015, what is the limiting factor? This thing should be on fire right now, its a great idea. I don’t know, I think eventually you will have to integrate an escrow system, a trusted third party. I am looking at it now and I see 15 offers, no filters, there should be hundreds. I can’t click on any of them… no account with the same payment method as the seller.
To support and make international payments easier via iban and swift.
Perhaps include a checkboxes to the individual “national bank account” (and others?) account to enable iban and swift individually?
This will allow you to put in iban or swift details (and perhaps another checkbox selection screen to allow only the countries you want to transact with)
When both taker/maker has iban or swift enabled accounts & each allowing each others country, they can take offers and transact.
edit: international payments are confusing to me as iv never done one. apparently with my banking mobile app i can send to 200 countries with just a mobile/cell phone number. i dont know what the underlying system used, presumably both account holders have to opt in to receive money via mobile number.