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Wire Transfer from Australia to B2Cjewels

Dave90

Rough_Rock
Joined
Jan 26, 2020
Messages
21
Hi guys,

Do any of you have any experience with sending money to B2Cjewels?

After having a chat to them online, it looks like do not accept ACH payments, which means I can't use sites like Transferwise or OFX. This is really frustrating as I finally made the decision to complete my purchase with them and I did not take this into account, and will be up for an extra $200+.

I know this is my fault as I just assumed and did not check before buying. Does anyone have any suggestions on how to reduce fees and get the best rates when sending funds to B2C?

Thanks!
 

sledge

Ideal_Rock
Premium
Joined
Apr 23, 2018
Messages
4,441
I see no wire transfer details clearly stated on their website. Perhaps @Diamond_Hawk can clarify.
 

Bron357

Ideal_Rock
Premium
Joined
Jan 22, 2014
Messages
4,111
It looks like they take PayPal. That’s free to use for a buyer if you use your bank account. If you use a credit card there will be a transaction fee. This is because Visa etc take a fee out of the transaction. PayPal passes that fee onto the buyer.PayPal also has a commission built into the exchange rate they use.
The vendor will be charged if you pay via PayPal and/or a credit card. Some vendors pass this charge onto the buyer r offer a cheaper price for a wire or bank transfer. You the buyer will then be paying fees to your bank for them to send the money to the vendor.
I would recommend using PayPal or a credit card. Businesses can and do go bad, with PayPal or a credit card the buyer has protection is the purchase doesn’t arrive or isn’t as described. There are no buyer protection if wire or bank transfer is used.
And don’t forget GST 10% plus another 5% if the US / Aust free trade agreement isn’t used (a customs form completed by the vendor).
 

sledge

Ideal_Rock
Premium
Joined
Apr 23, 2018
Messages
4,441
I know some of the "newer" transfer services are much cheaper than traditional bank transfers, but usually you still have some costs associated.

I've learned that when I factor in all the fees and cash back or reward offers I get with my credit cards, there is very little to actually gain by doing transfer, yet as pointed out considerable risk.

Not implying B2C is risky or a threat. Just pointing out you get extra security with a credit card and depending on specifics the costs may be a wash or very minimal difference.

Point in case, my daughter plays soccer and I bought her some high dollared cleats using Kitbag, basically a UK version of Fanatics. I'm not overly concerned with international transactions but I had never done business with them and the additional protection and rewards of my credit card made my decision process easy.

I am still interested to learn if B2C does traditional wire transfers. Their webpage for individual stones show a wire price but like @Bron357 pointed out when I went to checkout I only saw CC or PP options.
 

TheLady

Rough_Rock
Joined
Jan 4, 2020
Messages
78
I did a wire transfer with B2C. You select wire as payment method when you purchase the stone. After the purchase is completed they will email you the wire instructions. My bank charged me $20 for the transfer. I ended up returning the stone and B2C had a check back to me within a week of the return. I believe they will wire the money back to you for a fee.
 

Diamond_Hawk

Brilliant_Rock
Trade
Joined
Apr 8, 2014
Messages
1,221
Hello all,

As The Lady indicated a wire transfer with B2C will include an email back to you with specific instructions your financial institution will need to send the payment.

And to clarify, a wire transfer does lower our cost (no cc fees) and, thus, the available purchase price is lower.
 

Dave90

Rough_Rock
Joined
Jan 26, 2020
Messages
21
Thanks for all the feedback guys.

Looks like I have no other choice but to wire the money via my bank, costing me an extra $300.

As Diamond Hawk stated, once a purchase is made and wire transfer is selected they send you an email with their routing details. I just can't understand why they would not accept money from Transferwise, as ultimately they will receive the same money and at the same time help their customers save money.

A bit disappointed, but it is what it is and I'll still go ahead with the purchase.

thanks for everyones input.
 

sledge

Ideal_Rock
Premium
Joined
Apr 23, 2018
Messages
4,441
Sorry for your troubles @Dave90.

I am curious to learn more about Transferwise, as I have not used it yet. Is it similar to PayPal in the fact the sender and receiver both must setup accounts to transfer and receive money? Or do they offer an option where they simply directly wire the funds to a bank via traditional methods (routing & account numbers)?

If the latter it sounds like B2C will provide that info. However if it requires an account like PP I can understand not wanting an additional layer of hoops to jump through.

Not that PP is hard to do but when collecting money and transferring to your bank, it takes time. Businesses may not desire or have the luxury to accommodate the slight lag it would create in their cash flow.
 

Dave90

Rough_Rock
Joined
Jan 26, 2020
Messages
21
Excerpt from timedoct.com:

TransferWise works by having you make a bank transfer to TransferWise through your borderless account. Once TransferWise receives the transfer, they exchange currencies in a transparent way, meaning you can always refer to their website to see exactly what the exchange rates are. If you are worried about the exchange rates, TransferWise also links the currency rates posted on XE, Google, and Yahoo right on their website for your reference. That way, you can check and compare currency rates whenever you want. Once the currency has been exchanged, TransferWise then makes a local transfer to the person you wired the money to on the other side.


Therefore, it is different to Paypal, as both sender and receiver do not need to have accounts. The money goes straight into their bank account.

I have all the info I need from B2Cjewels to proceed with the transfer but after confirming twice with their online support they said they do not accept funds from Transferwise, I'm concerned about sending this way.

I'm actually wondering what would have happened if I used Transferwise without asking B2C, they would have essentially received my funds in their bank account. So, how could they not send me my goods?
 

sledge

Ideal_Rock
Premium
Joined
Apr 23, 2018
Messages
4,441
I am confused as well. As long as the transfer goes directly to their bank I am not certain why it matters if it comes from ABC or XYZ banks.

If I'm reading correctly, Transferwise is acting as a bank.

The only caveat being routing numbers are specific to banks so perhaps B2C's bank has had bad experiences with them and consequently their bank doesn't allow transfers from them. Just a guess, but it's worth an ask if you haven't already moved on.
 

Polyhex

Rough_Rock
Joined
Sep 18, 2003
Messages
56
If you wanted to ask their support people again, you could clarify that you intend to perform a SWIFT (bank wire) transfer with TransferWise facilitating not an ACH transfer. ACH is risky for sellers because they are reversible. To my knowledge SWIFT cannot be reversed (which is why it's risky for buyers.) If they still won't accept it's as Sledge says, they are rejecting TransferWise's routing #s not transfer type.
 

Diamond_Hawk

Brilliant_Rock
Trade
Joined
Apr 8, 2014
Messages
1,221
Excerpt from timedoct.com:

TransferWise works by having you make a bank transfer to TransferWise through your borderless account. Once TransferWise receives the transfer, they exchange currencies in a transparent way, meaning you can always refer to their website to see exactly what the exchange rates are. If you are worried about the exchange rates, TransferWise also links the currency rates posted on XE, Google, and Yahoo right on their website for your reference. That way, you can check and compare currency rates whenever you want. Once the currency has been exchanged, TransferWise then makes a local transfer to the person you wired the money to on the other side.

Therefore, it is different to Paypal, as both sender and receiver do not need to have accounts. The money goes straight into their bank account.

I have all the info I need from B2Cjewels to proceed with the transfer but after confirming twice with their online support they said they do not accept funds from Transferwise, I'm concerned about sending this way.

I'm actually wondering what would have happened if I used Transferwise without asking B2C, they would have essentially received my funds in their bank account. So, how could they not send me my goods?
Thanks for keeping us updated. I have a query in with the financial department at B2C and can hopefully provide clarification soon.

Best Wishes.
 

MollyMalone

Ideal_Rock
Premium
Joined
Jun 2, 2013
Messages
3,080
I realize that people are more inclined to post negative reviews, not positive ones, on this kind of site, but a barely 1+ star rating is still noteworthy imo
 

Dave90

Rough_Rock
Joined
Jan 26, 2020
Messages
21
Thanks for everyones input. Just a FYI, I've decided to take the hit and transferred money from my ANZ account.

I guess this information may help others in the future making decisions when purchasing from B2C.

I appreciate everyones help here in both choosing a diamond and everything else including detailed instructions in choosing a diamond. I did not get what I really wanted due to budget, but I hope I did the best bang for my buck (i'm still a little concerned as the diamond I selected may have some brown tint). It definitely has been a journey and a long selection process. Time got the best of me and I just had to make the hard decision and lock in a purchase.

Thanks Guys!
 

sledge

Ideal_Rock
Premium
Joined
Apr 23, 2018
Messages
4,441
Sorry you didn't get the resolve you initially sought out but I am thankful you found a way to move forward.

In regards to the stone you purchased I believe it was the 1.02 H, correct? What makes you think it may have a brown tint?

I bought my wife an H stone, and by far it is mostly white. We both see color easily, her even moreso than me, and while her stone may have a slight tint, it is still very "white".

Additionally most stones have a yellow undertone. While it's possible to find a stone with brown, grey or some other undertone, it would be somewhat unique. Brown and grey undertones have to be reported on stones of K+ color. Yellow doesn't have to be reported until Z+. Other colors would have to be reported on the cert at G+.

More importantly, did you express this concern to B2C? If so, both they and their supplier can verify if the stone has brown undertones. Many people dislike brown as opposed to yellow so that is something I feel you need to clarify.

Also I know many times people generically toss around the terms "yellow" or "brown" as a very simple expression of tint they may see and not really mean those colors in the physical sense.

Perhaps this will help you visualize what an H should look like. The side/pavilion view is how color is graded and where any tint is most obvious. Color is less obvious in top views.

original-GIA-Color-Grade-Boundries-for-Undertones-and-Fancy-Colors (1).jpg

diamond-color-side (1).jpg

ideal-cut-diamond-color-direct.jpg

 

Dave90

Rough_Rock
Joined
Jan 26, 2020
Messages
21
Thanks for your input Sledge.

I'm probably just being sensitive and overreacting. To my extremely untrained eye the diamond seemed to have a little bit of brown tint when I looked side by side at other H's. I hope I'm wrong and when it comes I'll be pleasantly surprised.

Current update is that it should be shipped out on 6th March, and take a few days to get to Australia. I'll update here with pics when it comes in.

BTW, did anyone get a solid answer in regards to their payment methods? Might help Aussies looking to buy from them in the future.
 

Diamond_Hawk

Brilliant_Rock
Trade
Joined
Apr 8, 2014
Messages
1,221
Thanks for your input Sledge.

I'm probably just being sensitive and overreacting. To my extremely untrained eye the diamond seemed to have a little bit of brown tint when I looked side by side at other H's. I hope I'm wrong and when it comes I'll be pleasantly surprised.

Current update is that it should be shipped out on 6th March, and take a few days to get to Australia. I'll update here with pics when it comes in.

BTW, did anyone get a solid answer in regards to their payment methods? Might help Aussies looking to buy from them in the future.
Hello,

As far as payment methods are concerned, I think you will find wire transfers are the standard business practice for international fund transfer. Any transfer - and most third party companies use this method - that is done as an ACH funds transfer is reversible within a specified time period by the original payer or financial institution (it varies from bank to bank and country to country). This is great protection for the consumer. When dealing with the large sums often involved in a gem purchase, however, the risk of sending a product and having the funds transfer reversed becomes a real concern. Because the rules vary from country to country and institution to institution company policy for many businesses requires ACH transfers to be refused.

It is great that you have found a diamond to your liking - let us know how we can help!
 
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