Are there any international virtual currencies?
December 16, 2003 4:12 AM   Subscribe

There's Paypal, eGold, amazon bucks et al. Is there a "net-cash" system out there that people from all over the world - from Aruba to Brazil to Zimbabwe - can use?
posted by dabitch to Work & Money (5 answers total)
There is Western Union. They do some online stuff, but depends on the country, not everybody in Zimbabwe knows about the net.

Problem: too expensive

from PA to Zimbabwe:

Amount to send : $ 100.00 US Dollars
Money transfer charge : $ 20.00
Total estimated amount : $ 120.00

Estimated exchange rate 1 US Dollar = 860.0000000 Zimbabwe Dollar
Estimated local currency pay out = 86000.00 Zimbabwe Dollar

from NY to Denmark:

Amount to send : $ 100.00 US Dollars
Money transfer charge : $ 15.00
Total estimated amount : $ 115.00

Estimated exchange rate 1 US Dollar = 5.8393877 Danish Krone
Estimated local currency pay out = 583.94 Danish Krone
posted by MzB at 6:35 AM on December 16, 2003

Or cash + local bank. I just did a little money raising thing that had people from around the world sending me money in various denominations. That plus Paypal worked wonderfully, and was much easier than I thought it would be. Of course cash is slower than hell, and doesn't have a built in tracking UI, and there are exchange rates to worry about........
posted by y6y6y6 at 7:49 AM on December 16, 2003

Response by poster: aye, thanks guys. Paypal would be great if they did indeed accept all credit cards - but they refuse my own from the biggest Swedish bank. Nemas problemas as I have a few CC's from issued from a few different countries banks. Not everyone does though, and when they want to donate to a site or similar and cannot use either amazone bucks nor paypal.. well.. I thought by now a fresh new alternative might be out there....
posted by dabitch at 5:35 PM on December 16, 2003

Response by poster: amazon - not amazone. tsssk. ;)
posted by dabitch at 5:36 PM on December 16, 2003

Response by poster: I feel I should clarify a little.

Amazon bucks = you can't get/use that without a US bank account. Europeans, Africans and Asians usually don't have a US bank account. So that's a dud payment system.

Paypal = Despite having nearly every country in the world listed there are far too many exceptions, Brazil, Aruba and some of the largest banks in Europe. Even though paypal 'accepts' Swedish Credit Cards, they don't accept the ones issued by my bank. When I spoke to my bank about it, they told me that they had many people ask just that, so they had called Paypal to sort out why they don't accept that banks cards. Paypal just doesn't, for no apparent reason.

Western Union, while it's a great way to get money all across the world it's not really practical for a "donate now" system on peoples blogs. There are many bloggers out there whom readers would like to 'reward' for their writing over the year in this time of giving - but people who can't use either amazon or paypal can't donate.

So like I said, I thought for sure by now that there would be a decent alternative out there, and I might have just missed it. Guess I'm hoping for too much?
posted by dabitch at 5:05 AM on December 17, 2003

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