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We are a web development company located in Mumbai, India and have been receiving SWIFT transfers to our Indian Bank Account since the past 6 years.

More than a month ago (40 days back), A client of mine (from USA) claimed to have sent funds via SWIFT transfer (giving me a PDF copy of Wells Fargo bank confirmation with SWIFT confirmation number). It has been 40 days now that the SWIFT transfer has not arrived and my client tells me that the transfer is still in process.

I have the PDF of Wells Fargo bank sent by my client which also quotes the SWIFT Confirmation #. What may have happened ? What are my next steps here ? What more information should I ask for to know the details of where the money currently is ?

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  • You shouldnt be doing anything, its your client that is still responsible for the unpaid invoice - the "confirmation" he has supplied to you is useless and can be created in Word, Photoshop etc in a few minutes. Treat this as if the client has not paid, nothing else - that gives the client a reason to chase it themselves, if they really did make the payment. – Moo Dec 15 '16 at 15:13
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I have the PDF of Wells Fargo bank sent by my client which also quotes the SWIFT Confirmation #.

This is just the internal reference maybe from SWIFT terminal. It just means SWIFT received the message. Nothing more.

What may have happened ?

It could have got stuck somewhere in correspondent Bank chain. Or may have reached ICICI NY and they are not able to apply funds to your account in the ICICI India branch for whatever reasons.

What are my next steps here ?

You would need to do 2 things;
First contact your ICICI bank branch with this details and ask them if they can trace it for you.
Second contact your client and ask them to raise a BCNR [Beneficiary Claims Non Receipt] for this transaction with Wells Fargo. Wells Fargo is bound to investigate this. Depending on your Clients relationship with Wells Fargo, there maybe charges of around 30-50 USD. This would trace the payment via Wells Fargo to the next in chain and can identify where it was stuck or when it was credited.

What more information should I ask for

The information in confirmation is quite less. Talk to your client and see if you are request for Sender Reference Number [This is preserved from Wells Fargo to your ICICI bank], BIC of Wells Fargo, Immediate routing [or sender Correspondent]; i.e. which Bank the payment was sent to [Wells Fargo may send it to other Bank and then it would reach ICICI]

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