It has been 18 days since my dad did a wire transfer from India to Canada and I still haven't got my money. When my dad contacted his bank they are saying the money has been received but my bank is saying that I have received no money. All the information that was filled in like swift code and account number were correct. Is there anything that can be done in this situation.
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2" When my dad contacted his bank they are saying the money has been received" Are they saying it was received by the information you sent? Or just that it was sent? Have you asked your bank to confirm that your payment details match your expectations? Have you asked his bank to confirm that the payment details for the transfer match your expectation?– Grade 'Eh' BaconJan 3, 2018 at 22:53
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1What does either bank suggest that you do? Or have they run out of ideas?– Grade 'Eh' BaconJan 3, 2018 at 22:57
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1Do you have any correspondence in writing from his bank, stating that payment was made and processed with exactly those details? I would suggest showing that to your bank and asking them what happened.– Grade 'Eh' BaconJan 3, 2018 at 22:58
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3"my bank is saying I'm not authorized to even access or even check that if a wire transfer with that transaction number was made or not." Are you sure you're the registered owner of the receiving account? Have you asked them to look at whether any amount was attempted to be wired to your account on that transaction date? If they continue to be unhelpful you may want to consider hiring a lawyer.– Grade 'Eh' BaconJan 3, 2018 at 23:36
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2I have an appointment with the manager and a financial advisor tommorow lets see what happens.– ShoxJan 4, 2018 at 2:44
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3 Answers
Ask your dad to lodge a Beneficiary claims non-receipt with his Bank. They can trace and inform if and when the payment was credited.
Yes. Contact the Indian Bank as soon as possible and alert them about possible error. They can request receiving bank about the deposit information and verify the transaction details.
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But note that the person sending will have to do that. The person supposedly receiving, is nobody. (Anyone could randomly call a bank and assert they are supposed to be receiving money.) The person sending must quickly act.– FattieJan 4, 2018 at 16:22
I went to my financial advisor and showed her my papers for that wire transfer with all the sender's and receiver's details and because the receiver's bank info and his account number and mine matched she was able to give me a written letter that no wire transfer was made into that account and gave me the transaction history and my bank statement for these two months. After this I sent these three documents to the sender( In this case my dad) and his bank was able to cancel the wire.
There are two more things that my advisor told me. 1 If any of the receiver's bank info was wrong and any account with that wrong info doesn't exist that wire would have been cancelled and sent back to the sender or the third party company's account (if you did a wire through a third party) and the sender will have to request it back.
- In any case the wire with wrong info was successful and received the bank would not be able to do anything. In this case the sender or his bank will have to contact the receiver and without the receiver's consent the wire can't be cancelled or reversed. You should contact your lawyer in this case.