$1 Instant Wire Transfers 24/7
tryfortress.com
$1 Instant Wire Transfers 24/7
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Re: $1 Instant Wire Transfers 24/7
#2Running a trading company, I send and receive a lot of wires. When wiring a few times a year, the $30-$75/wire fee is annoying but doable. Since we send dozens a month, we rack up $1k+/mo just in fees.
Tried switching banks and sending ACH’s / Zelles whenever possible. Nothing let us move large amounts quickly and cheaply.
Why on earth does it cost so much and take so long to move my money? There’s got to be a better way, right?
Turns out, there’s not. So we built [Fortress](www.tryfortress.com) - it’s a platform that lets you send instant wires for $1, 24/7/365. Meaning, your monthly wire fee bill is decreased by 97%.
You simply connect your bank account, select a sender, and confirm your transfer. That’s it—funds are instantly available in your vendor’s account.
If you have any specific recommendations, just comment below. Would love to hear what you guys think!
Thanks!
Re: $1 Instant Wire Transfers 24/7
#3Is it possible to learn how it actually works?
Banks charge for wiring, so if you are still using bank how do you get around that? I assume that it's not actually doing a wire transfer.
Re: $1 Instant Wire Transfers 24/7
#4Is it possible to learn how it actually works? Banks charge for wiring, so if you are still using bank how do you get around that? I assume that it's not actually doing a wire transfer.
Built on blockchain rails. Works like a 1-click bundle of debit sender account --> buy stablecoin --> send stablecoin --> (optionally) convert to fiat and disburse to receiver bank.
Re: $1 Instant Wire Transfers 24/7
#5Is it possible to learn how it actually works? Banks charge for wiring, so if you are still using bank how do you get around that? I assume that it's not actually doing a wire transfer.
Built on blockchain rails. Works like a 1-click bundle of debit sender account --> buy stablecoin --> send stablecoin --> (optionally) convert to fiat and disburse to receiver bank.
Well this is the first time I've ever been impressed by an application of crypto, notwithstanding some major concerns.
Thing is though that this is not a wire transfer, and lot of places where wire transfers are used are specifically used because of the infrastructure and guarantees around it. Would be interesting to a shift in adoption though
Do you guys just eat cost of minor fluctuations in stablecoin prices?
Re: $1 Instant Wire Transfers 24/7
#6Earlier quoted context omitted.
Built on blockchain rails. Works like a 1-click bundle of debit sender account --> buy stablecoin --> send stablecoin --> (optionally) convert to fiat and disburse to receiver bank.
Well this is the first time I've ever been impressed by an application of crypto, notwithstanding some major concerns. Thing is though that this is not a wire transfer, and lot of places where wire transfers are used are specifically used because of the infrastructure and guarantees around it. Would be interesting to a shift in adoption though Do you guys just eat cost of minor fluctuations in stablecoin prices?
Thanks! Fortress can also slot into legacy infrastructure. Finality guarantee is also actually stronger with a stablecoin payment (cryptographically irreversible) vs a wire (99.9% irreversible, absent a bank mistake or court order).
Re: $1 Instant Wire Transfers 24/7
#7Earlier quoted context omitted.
Well this is the first time I've ever been impressed by an application of crypto, notwithstanding some major concerns. Thing is though that this is not a wire transfer, and lot of places where wire transfers are used are specifically used because of the infrastructure and guarantees around it. Would be interesting to a shift in adoption though Do you guys just eat cost of minor fluctuations in stablecoin prices?
Thanks! Fortress can also slot into legacy infrastructure. Finality guarantee is also actually stronger with a stablecoin payment (cryptographically irreversible) vs a wire (99.9% irreversible, absent a bank mistake or court order).
Fully backed stablecoins are redeemable from their issuer 1:1, regardless of what they're trading at on secondary markets
Re: $1 Instant Wire Transfers 24/7
#8This is awesome.
I’m nearing completion of a Crypto invoicing and payment platform that works without dependence on any infrastructure — but can’t receive payments in Fiat, only Crypto.
This technology would provide a hugely valuable option; to wire Fiat currency, and pay for the service/software in Crypto.
Because delivery of the Crypto payment to the designated address is the licensing mechanism…
Re: $1 Instant Wire Transfers 24/7
#9This is awesome. I’m nearing completion of a Crypto invoicing and payment platform that works without dependence on any infrastructure — but can’t receive payments in Fiat, only Crypto. This technology would provide a hugely valuable option; to wire Fiat currency, and pay for the service/software in Crypto. Because delivery of the Crypto payment to the designated address is the licensing mechanism…
Sounds really cool!
Re: $1 Instant Wire Transfers 24/7
#10This is awesome. I’m nearing completion of a Crypto invoicing and payment platform that works without dependence on any infrastructure — but can’t receive payments in Fiat, only Crypto. This technology would provide a hugely valuable option; to wire Fiat currency, and pay for the service/software in Crypto. Because delivery of the Crypto payment to the designated address is the licensing mechanism…
Sounds really cool!
There are a lot of small software developers who would like to get paid, but either can’t charge potential clients (too much regulatory overhead), or are completely un-banked (reside in remote areas w/little infrastructure or are residents of the same country as the boogie-man du jour)
This let’s them get paid, even if every government in the word shakes in rage at the idea of someone licensing their software.
But for normal companies buying software through their finance department, having a Fiat-to-crypto account where they can get a USD$ invoice approved and wire the funds would be wonderful!
I’ve fought for 6+ months just to get one invoice paid (USA client, Canadian vendor). This would have made my pain so much less. For African or Eastern European clients, I basically can’t offer them my software as they effectively can’t pay me.
If you can KYC the client company, and then they could pay via your service and deposit to a crypto account associated with the KYC-ed vendor — this will be a huge win!