Questions tagged [money-transfer]

Transferring money electronically between accounts.

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6 votes
0 answers
245 views

Used an incorrect SWIFT code for transfer. Will money return or still go through?

I made an international transfer from my bank in Italy to the U.S. The recipient account number and routing number were correct including the address, but I mistakenly used the SWIFT code of the U.S. ...
3 votes
0 answers
92 views

How does Transferwise work when the cash flows are unequal?

How does Transferwise work? My understanding is that Transferwise owns bank accounts with local currencies in multiple countries, and the users pay into these accounts and are paid from another ...
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3 votes
0 answers
92 views

Transfer from Russia to the US after inheritance

My adult children will inherit an apartment in St Petersburg Russia. After the complexities of selling, taxes, etc., will there be any problem with a bank transferring the proceeds to the US? Will US ...
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2 votes
1 answer
172 views

Can I appeal the cost of a rejected funds transfer from my bank account?

I recently ordered the transfer of 1000 Euros from my bank account in Israel to my bank account in Germany. After a while, when the money didn't arrive, I realized that I made a very silly mistake: ...
2 votes
0 answers
70 views

Sending money to acquaintances in Armenia

Last year, I went to Armenia and stayed with host families or in small guesthouses. These hosts did not become friends or anything, but I am considering contacting them in view of the travel ...
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2 votes
0 answers
219 views

Do money transfer companies have a LEGITIMATE need for a passport copy

Money transfer service Azimo asks for a copy of my passport. I sent it, after having written 'copy' on it, for security reasons. My transfer then was rejected, because 'We weren’t able to verify your ...
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2 votes
0 answers
213 views

Transferring money from HSBC UK to TD Bank in Canada

Lets say I want to transfer money to Canada from UK. HSBC-UK asks me to to enter the following information Payee account number Payments Canada Routing number Bank Name Now the question : Should "...
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2 votes
0 answers
495 views

Escrow sent money to wrong account

I signed up for a HELOC, but the terms for me being approved for the HELOC required me to use the full balance to pay down part of my mortgage. The bank worked with an escrow company to ensure that ...
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2 votes
0 answers
88 views

What are the written instructions for making a transfer between a US credit union account and a UK building society account?

I have an account in a credit union in the US and an account at a building society in the UK, and I wish to transfer funds from the former to the latter. The credit union has a printed form for ...
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2 votes
1 answer
92 views

Fill W-8ben If the bank account is not mine

I am not a US citizen or resident. I suppose to get money from a US company so I have to fill a W-8ben form. I want the company to transfer the money to a bank account of a friend of mine. In such ...
1 vote
0 answers
59 views

Why do IBAN transfers sometimes take multiple days?

Sometimes IBAN transfers can arrive the day they are made, and at most (at least in Germany) I think they can take 5 days to arrive in the recipients bank account. Why? What is going on that makes ...
1 vote
0 answers
129 views

Trading Crypto With My Bank Account

I want to be a crypto trader and trade cryptocurrencies with my bank account. How it works is the seller would put his coins into an escrow account, the buyer will transfer him the money, and then the ...
1 vote
0 answers
94 views

Reclaiming missing Revolut SWIFT transfer

I've sent a SWIFT transfer from my Revolut account to a Polish bank account (owned by my father). After sending it, I was asked for additional details (presumably because the amount was relatively ...
1 vote
0 answers
48 views

Sending International Transfer from Jordan to Germany

I am trying to send enrollment fee to a German account for my master's degree. The university provided me with details that included: Receiver name Bank name IBAN SWIFT/BIC Do I need to use all ...
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1 vote
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111 views

SEPA credit transfer from EUR to GBP. What happens? Should there be fees?

All my bank accounts are in EUR (I am German) and I needed to transfer 100£ (GBP) to a british bank account to pay a reservation fee. I was provided with an IBAN to that account. I then converted from ...
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1 vote
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27 views

What happens if send low value swift payment via BEN?

I am wondering what happens if I made a low value swift payment (e.g under £10) which is less than the transaction fee. Would the payment be rejected?
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1 vote
0 answers
408 views

Money gift from Indian father to son with British passport

Father in India wants to gift £ 50,000 to son in UK (who has British passport) for buying property. I am getting a letter from a Indian chartered accountant stating the source of the funds and tax ...
1 vote
0 answers
37 views

How can I find a RIB code in a SBI passbook?

I want my dad to transfer me money from my country which is Ivory Coast (Cote d'Ivoire) in Africa. So they are asking for a RIB code; I don't know to which details it matches in SBI and I can't find ...
1 vote
0 answers
368 views

ACH transfer to incorrect account type ('Savings' instead of 'Checking') - US bank to another US bank: Is it lost?

A friend visiting the US was asked to transfer $2000 for rent payment to a US bank account. On February 12th, while doing an ACH transfer from his US bank account to the landlord's account in another ...
1 vote
0 answers
73 views

How to send money abroad from India if the transaction does not fall under LRS scheme?

I would d like to send a small amount (about USD 100) to a person living in Turkey for some freelance work. I found some sites like sites like XendPay, FxKart that allows you to transfer money abroad ...
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1 vote
0 answers
494 views

Incomplete IBAN used in bank transfer

A transfer form a client listed only 7 digits of my IBAN (and 1 in error), the clearing number, my name and bank address are all correct. The clients account has been debited but mine has not been ...
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1 vote
0 answers
117 views

what constitutes a 24 hour period for ACH transfers?

My bank limits me to a 50K ACH transfer in a day. Is a day 24 hours from the time I scheduled the transfer? Or from the time of the scheduled delivery?
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1 vote
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173 views

Does government track wu transfer?

I have been sending money to my family back in China over year now and probably sent 25000. But last week I was trying to send it through wu agian and they put it on hold and decline saying it ...
1 vote
0 answers
65 views

Do I need to pay tax in USA for money remitted

I am planning to transfer money from India to USA. Do I need to pay tax in USA for the money inwardly remitted. If yes, what is the percentage rate?
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1 vote
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634 views

Efficient way to transfer money from Greece to Canada

I currently reside in Canada and I want to transfer a small portion of my money from Greece (from my parents). What's the most efficient way to transfer money in order to avoid the bank fee + low ...
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1 vote
0 answers
296 views

Why does PayPal rely on bank card to send money to friend instead of using my bank account?

My PayPal account is linked to my bank account and the Mastercard that's linked to it. Both are verified and work fine when I use PayPal to purchase goods from the Net. Last night, I wanted to pay ...
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0 votes
0 answers
116 views

Receiving money on a Wise USD account from a US bank via bill.com for a non-US resident

Some companies use bill.com to pay their contractors. Bill.com website states this: Note: To successfully receive a payment by a Bill.com customer will have to meet the following criteria: Your ...
0 votes
0 answers
124 views

How do I safely transfer money from a US bank to a UK bank?

I am currently living in the UK after many years in the US. I want to safely transfer some money from my US bank (Ally bank) to my bank account in the UK. (Ally Bank doesn't do international transfers,...
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0 votes
0 answers
210 views

Dispute unauthorized charge on PayPal

I have an unauthorized charge for 500 dollars on my PayPal sent to a random person. I contacted PayPal about this and within 2 hours, they responded that they had thoroughly looked into the case and ...
0 votes
0 answers
63 views

Is a non-resident allowed to receive money transfers from other non-residents to help them pay for things in Canada?

Suppose a parent has two children: child A and child B. Both children are 18+. The parent, child A, and child B are all non-citizens and non-residents of Canada; they do not live in Canada. Child A ...
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79 views

UK First house purchase - Amount solicitor has requested is greater than the amount I am expecting

I am currently in the process of buying my first house (UK), and am nearing the point of exchange of contracts. I have started transferring funds to my solicitor ahead of the exchange, but have ...
0 votes
0 answers
676 views

Transferring money to a PayPal account from Western Union

PayPal, or at least under my PayPal account, allows me do perform direct deposits into the said account. Basically they issued me a PayPal account number and a Wells Fargo custodial account. Is it ...
0 votes
0 answers
76 views

how can i convert my rupees into dollars? and what about the tax deduction

I have INR (Indian Rupees) in my bank account and I wish to convert INR to USD and Send it to my friend who is in america. he is in need of 1 lakh and 20 thousand 1600 USD.how much tax i have to pay ...
0 votes
0 answers
117 views

Can you legally keep(pool/collect/save) people's money to give to an organization?

Is it legal for me to get checks from say ten people for $300 to pay for a weekend camp, and then give the camp a check for $3000, or can only a 501(c)3 to do that?
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49 views

Transfer from NRE account to salary account

I am working in Kenya with an Indian company duly registered in Kenya as a branch. I am getting my salary from India in my salary account and I am also getting an overseas allowance from Kenya in ...
0 votes
1 answer
95 views

How much money can be transferred from India (from friend) to USA citizen | Any regulations?

I am a USA citizen. One of my close family friend (not a relative) can send money as a gift to me (up to 100k). Please let me know the procedure and forms that I/He have to submit with IRS/Tax ...
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-1 votes
0 answers
148 views

How to fix Zelle 24 hours pending issue?

I have been using Zelle to send and receive money for over nine months. However, my Zelle account has been strange lately. For instance, My recent payments were pending for up to 24 hours instead of ...
-1 votes
2 answers
125 views

Cost-effective way for my client to transfer payment to me for freelance work

I'm a software/game developer from the Philippines and someone from the US has hired me to make a game. The game is now completed and the remainder of the payment is still about USD $100,000. My ...
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-4 votes
1 answer
140 views

When doing a SWIFT transfer between two banks, which entities can stop the transfer due to suspicion of fraud?

I'm guessing that both the source bank and the recipient bank have the ability to stop the transfer. Can the other entity, e.g. SWIFT, stop the transfer due to suspicion of fraud?