My customers are in Germany and I told them to pay the money for me using a bank transfer. I gave them the swift code and the IBAN and other information, but the problem is that I forgot to tell them that my account is in dollars and they transferred the money to my account using Euro.

Until now, I didn't receive a response from my bank in Turkey and they told me that the international transfer may take 4 or 5 days.

What do you think the result will be?

Is there an automatic conversation from Euro to dollar, or will my bank in Turkey will refuse to receive the money because they are in a different currency?

Will I lose my money?

1 Answer 1


This is not a problem. SWIFT does not need the Beneficiary Account Currency. The settlement account [or the Instruction amount] is of interest to the Banks. As I understand your agreement with client is they pay you "X" EUR. That is what would be specified on the SWIFT along with your details as beneficiary [Account Number etc].

Once the funds are received by your bank in Turkey, they will get EUR. When they apply these funds to your account in USD, they will convert using the standard rates. Unless you are a large customer and have special instructions [like do not credit if funds are received in NON-USD or give me a special rate or Call me and ask me what I want to do etc].

It typically takes 3-5 days for an international wire depending on the countries and currencies involved. Wait for few more days and then if not received, you have to ask your Client to mention to his Bank that Beneficiary is claiming non-receipt of funds. The Bank that initiated the transfer can track the wire not the your bank which is supposed to receive the funds.

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