[bisq-network/growth] Add TransferWise-USD as a payment method (#217)
pazza
notifications at github.com
Tue Jan 12 00:26:56 CET 2021
## TransferWise-USD
Related issues:
[Add Transferwise as new multi-currency payment method #243](https://github.com/bisq-network/proposals/issues/243)
[Improve Transferwise account ](https://github.com/bisq-network/bisq/issues/4931)
TransferWise info:
Due to what I assume is US banking regulation, Sending / receiving USD payments has more restrictions than most other currencies. This is the reason USD was not added to TW-TW payment method. For reference see:
- [Can I get USD account details?](https://transferwise.com/help/articles/2810318/why-cant-i-get-usd-account-details)
- [Sending US dollars to countries outside the US](https://transferwise.com/help/articles/2946451/sending-usd-to-countries-outside-the-us)
- [What countries can I send USD to?](https://transferwise.com/help/articles/2974947/what-countries-can-i-send-usd-to)
- [Can I send money to someone with only their email address?](https://transferwise.com/help/articles/2932105/can-i-send-money-to-someone-with-only-their-email-address)
### Background
TransferWise was added to Bisq a couple of months ago and is performing well. Unfortunately due to the reasons above USD was excluded from TW-TW payment method.
This proposal is to include 'TransferWise-USD' as a payment method for Bisq users to trade in USD.
### Region
Anyone with a TransferWise account.
### Currencies
USD.
### Chargeback risk
Minimal
### Size of user base
6 million worldwide customers in 2019
### Data requirements
Email address
*Account name
*Address
*This info is required for USD transactions from accounts based in USA.
### Verification
TLSNotary
### Duration
Usually settlement is immediate if TW - TW where user send from available balance, debit or credit card (~80% of transactions)
If user chooses to fund via another payment method eg Wire Transfer then up to 4 days
### Fees
~0.25% if not funding using USD.
~small fee of about $0.25 for all sending transactions
### Fraud risk
Low
### Payment amounts
Within 0.25 BTC limits as per other payment methods.
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https://github.com/bisq-network/growth/issues/217
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