Questions tagged [swift]

Society for Worldwide Interbank Financial Telecommunication (SWIFT) provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment.

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International transfer in euro. Used swift code for wrong branch. What should I do?

Two days ago I transferred money from my Israeli account to my German account, but used GENODED1SPE instead of GENODED1SPW for the swift code. This code does exist, but belongs to a different branch ...
ge0rg's user avatar
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1 answer
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Who initiates SWIFT MT101, creditor or debtor?

Who initiates SWIFT MT101 instruction? Is it generated by creditor to take funds from debtor or generated by debtor to give funds to creditor?
Frank Martin's user avatar
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Choose between intermediary banks?

I'm trying to get the money from my client in the USA but transfers from Chase do not seem to pass compliance at NY Mellon (the intermediary bank). My UAE bank has 4 correspondent banks for USD ...
Alexander Mikhalchenko's user avatar
1 vote
1 answer
217 views

Why does Apple have a BIC code registered for them?

From https://apple.stackexchange.com/questions/466770/why-does-apple-have-a-bic-code-registered-for-them?noredirect=1#comment691333_466770 It's not unusual for a legal entity to have an IBAN, but why ...
RokeJulianLockhart's user avatar
0 votes
1 answer
156 views

I need to make an international wire transfer in 2-3 days -- how can I do that?

I need to make a wire transfer (from the USA) to an international bank in the next 3 business days. They specifically ask for an MT 103 receipt, so I don't think alternatives to SWIFT will work. I ...
voobaroo's user avatar
0 votes
1 answer
163 views

I've come across IBAN & SWIFT numbers of a large international healthcare organization (in a publicly accessible document). Anything I should do?

A little more detail. I was searching a European health authority website for documents related to a specific healthcare conglomerate. I've done this many times in the past (looking for regulatory ...
pdanese's user avatar
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-4 votes
1 answer
107 views

Does any French bank receive SWIFT transfers without taking any commissions? [closed]

I looked at Fortuneo and Société Générale: they both take a commissions when receiving a SWIFT transfer: Fortuneo takes 12 EUR: https://i.stack.imgur.com/riXvc.png Société Générale takes 22 EUR: ...
Franck Dernoncourt's user avatar
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63 views

Challenges with SWIFT Transfers and Name Sanctions

My SWIFT transfers, approximately 5000 USD per year, have consistently been held by the intermediary bank. For the past 6 months, all of my payments are blocked. My clients are universities and ...
Mohaqiq's user avatar
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1 answer
8k views

What is the IBAN number of an account in Canada?

I need to make a wire transfer from Europe to Canada through the banks. Europe is using IBAN code system for wire transfer. It has a 26 digit code. Canada is using SWIFT code system for wire transfer. ...
Aschoolar's user avatar
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-2 votes
1 answer
210 views

Why does it take up to 20 working days to refund an account after a failed SWIFT transfer?

I attempted a SWIFT transfer from Revolut UAB to Charles Schwab (USA). It failed due to incorrect recipient information. Revolut UAB mentions it takes up to 20 working days for the Revolut UAB to be ...
Franck Dernoncourt's user avatar
-3 votes
1 answer
269 views

How can I check what happened to a SWIFT transfer with a party that is neither the originator financial institution nor the beneficiary institution?

I have an account at a financial institution in France and I have an account at a financial institution in the US. I asked my financial institution in France to do a SWIFT transfer from my account ...
Franck Dernoncourt's user avatar
-2 votes
1 answer
114 views

Are all international wire transfers from a financial institution in France to a financial institution in the US SWIFT transfers?

I wonder whether all international wire transfers from a financial institution in France to a financial institution in the US are SWIFT transfers. Are can there be non-SWIFT transfers?
Franck Dernoncourt's user avatar
-6 votes
2 answers
1k views

Why would a recipient bank reject an incoming international transfer?

I tried to make a SWIFT international money transfer from my Revolut bank account based in Europe to my US brokerage account, and my US brokerage account (Charles Schwab) rejected the transfer, ...
Franck Dernoncourt's user avatar
-1 votes
1 answer
105 views

How is the IBAN created worldwide?

I have a big list of Account Numbers, corresponding currencies and BIC-Codes. For every Bank I know BIC-Code and location. Now, I am interested in calculating the IBAN for every Bank-Account, if ...
Julian's user avatar
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92 views

Sending money to a correct IBAN but a non existing swift code, shall the transaction be processed? [duplicate]

I made an international transaction from my bank account in EGYPT to my German blocked account in Germany and while doing the bank transfer I entered my IBAN and it was a correct one, while I had to ...
Youssef Tamer Ismail Moustafa 's user avatar
-1 votes
1 answer
93 views

interbank currency exchange rate?

when you have a gold account, sometimes banks offer an option of exchanging currencies with no added operation cost, using only interbank transfer exchange rate. (proably, this is called TT rate). I ...
Asdf's user avatar
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Adding a branch code to my swift code, is there a difference?

I have been receiving money from Romania to Indonesia using the swift code CENAIDJA for the past two months. This month there was an error in the swift code but when the sender added 'XXX' making it ...
Syifa's user avatar
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1 answer
128 views

Can swift international payment be retracted after being received?

Is it possible for an international payment to be retracted once it’s arrived in the recipients account? I received a payment from overseas buyer for a purchase and they sent me more than what I was ...
Julia's user avatar
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3 votes
0 answers
62 views

Disputing a currency conversion that happened in a SWIFT transfer between accounts of the same currency

I made a SWIFT transfer from my EUR account in one bank (in Russia) to my EUR account in another bank (in the UK). However, the beneficiary bank received the transfer in GBP and converted it to EUR in ...
Alexander Pozdneev's user avatar
1 vote
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Transfer money internationally via wire transfer, provided intermediary SWIFT but not intermediary account number

I want to send money from the U.S. bank to one of the Georgian Republic banks. Georgian bank provided me with an intermediary bank SWIFT but not an intermediary account number, and the banker told me ...
Abesalomi Gogatishvili's user avatar
1 vote
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752 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 ...
the_cool_mind's user avatar
-1 votes
1 answer
142 views

Can you kindof hide a transaction from the government if you use ATM? [closed]

I'm a citizen of NL. I keep my money in US. I can send money from my US account to my NL account using Wise I can withdraw cash from US via ATM. Then deposit the cash into my NL account via ATM ...
user115836's user avatar
0 votes
1 answer
892 views

Payment sent to wrong SWIFT code but right account number (not IBAN)

I've just had a payment sent to me via Wise, from US to UK, but after a week the funds hadn't arrived and I double checked the details. I bank with Nationwide, but the sender has used their ...
risko's user avatar
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1 vote
0 answers
166 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 ...
Noctiphobia's user avatar
1 vote
0 answers
55 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 ...
Katrina's user avatar
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1 vote
1 answer
119 views

Why SWIFT transfers fees are usually way higher, comparing to Internet acquiring?

Shopping on the Internet, the total cost, as a rule, represents the subject itself, an acquiring fee and (optionally) a delivery, not including intercharge. SWIFT payments are, however, more ...
user avatar
0 votes
0 answers
324 views

International SWIFT transfer: sent as OUR, received as SHR (field 71A)

The company I'm working with sent me a few SWIFT payments, and they all were received with the following fields: :71A:SHA :71F:USD16,00 :71F:USD0, So the 16$ fee was deducted from the full amount ...
Lumi Akimova's user avatar
0 votes
0 answers
51 views

Correct fields of MT103 to fill information to ensure the Beneficiary would receive the payment in full without any deduction?

We once got a situation that: even though the "OUR" option was used for Field 71A (Details of Charges), the Seller didn't receive the full original amount. Hence, the Seller's bank has ...
nmhung1985's user avatar
1 vote
0 answers
34 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?
Sophie's user avatar
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1 vote
2 answers
2k views

Wire transfer - sent to the right account but wrong branch

I recently had to wire funds for an investment from Canada to the US. I used my bank (Simplii Financial) to wire the funds to a Wells Fargo account. I was asked to wire the funds to WFBIUS6S which is ...
karancan's user avatar
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-4 votes
1 answer
155 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?
Franck Dernoncourt's user avatar
0 votes
0 answers
73 views

International wire transfer confusion between the US and Japan

The recipient Tokyo bank is Mitsubishi UFJ Bank (SWIFT Code MTBCJBJT). This bank after mergers may now be the MUFG Bank (SWIFT Code BOTKJPJT). First confusion is which SWIFT Code to use? XXX at the ...
Jon Bird's user avatar
0 votes
1 answer
183 views

What is handled manually during a Swift transfer?

I read on this answer: A lot of SWIFT is actually handled MANUALLY What exactly is handled manually during a Swift transfer?
Franck Dernoncourt's user avatar
1 vote
3 answers
189 views

Why do SEPA transfers involve no or minimal fees, while SWIFT transfers may cost anywhere between $15 and $45?

I read on moneytransfers.com (mirror): SEPA transfers involve no or minimal fees, while SWIFT transfers may cost anywhere between $15 and $45. Why do SEPA transfers involve no or minimal fees, while ...
Franck Dernoncourt's user avatar
1 vote
1 answer
302 views

Foreign Telegraphic Transfer: Correct IBAN but with a different bank SWIFT CODE

I have sent quite a large amount of money (in MYR) to Singapore from Malaysia. The IBAN is correct (recipient's bank is SINGAPORE OCBC with an OCBC account number) but unfortunately, for the swift ...
HansDon's user avatar
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1 vote
2 answers
9k views

Wrong Beneficiary name in swift transactions.Wire transfer

I have made a transfer to the company via wire transfer, swift remittance. But unfortunately, I have given the wrong beneficiary name, but all other IFSC codes, swift codes are correct. The company ...
Rouge Rockz Creation's user avatar
0 votes
1 answer
115 views

How to send USD to Transferwise EUR balance?

I have a Transferwise account that only has bank details for EUR. I gave all the account details to my client in USA so they can do the transfer. Unfortunately my client replied that they won't be ...
StackOverflower's user avatar
1 vote
1 answer
329 views

Should I use SHA or OUR for sending an international wire to my stock broker's bank account?

I am trying to send an international wire transfer to my US stock broker, TD Ameritrade. TD Ameritrade has asked me to send a wire to its bank account at First National Bank of Omaha. My local (non-US)...
Flux's user avatar
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1 vote
1 answer
768 views

What if the swift code is correct but wrong bank account number?

I ended up paying to an account number which i am not sure is of the receipient. However other details like swift code and bank name etc were correct. The party hasn't received the payment. I should ...
Bhriti's user avatar
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1 vote
1 answer
99 views

Should I be worried about anything (IRS, taxes, bank problems) if I make transfers between my own accounts in different countries?

I have US bank accounts as a non-US person, and I'm not in the US anymore. So if I transfer money to my US bank accounts, would that be a problem? I created my accounts when I was a student in the US. ...
lkadfadfad's user avatar
2 votes
1 answer
142 views

Can a bank accept incoming transfers from only one Intermediary Bank?

My (European) bank accepts incoming USD transfers only when a specific Intermediary Bank is used. My friend's (United States) bank doesn't allow to specify Intermediary Bank SWIFT codes, because it ...
Fez Vrasta's user avatar
0 votes
0 answers
309 views

Wired some money internationally without a SWIFT code and it is not received yet. I am worried

I wired some money from China (Industrial and Commercial Bank of China) to Canada (Bank of Montreal). Both are big banks in their respective countries. Both accounts are in my mother's name. I did the ...
user2213307's user avatar
2 votes
3 answers
536 views

How is a customer account affected by banks merging?

Suppose there are 2 banks, A & B. Bank A has merged into bank B, hence, Bank B is the anchor bank & bank A does not exist anymore. How is a salaried person who has submitted the Swift Code &...
user avatar
0 votes
2 answers
132 views

Transfer from Italy to Turkey still pending

I made a transfer on 02/07/2019 from Italian EUR account to a Turkish Eur account. The status at that time was empty but the very next day the status became as "Preso in carico" which means taken ...
indexOutOfBounds's user avatar
0 votes
0 answers
223 views

Wire transfer problem

I have wire transferred my funds through a Turkish bank using SWIFT code and intermediary bank JP Morgan Chase bank in the US to my account in Singapore. It is already 8 months and I have yet to ...
Mr Choo Pheng Soon's user avatar
6 votes
1 answer
465 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. ...
Albert dave's user avatar
2 votes
1 answer
1k views

Wrong SWIFT Code

I sent a wire from the US to France, however I noticed afterwards that my bank put the incorrect SWIFT code, the code they used was for a different branch of the same bank (Literally 3 streets away ...
Marc Taylor's user avatar
-2 votes
1 answer
254 views

How Were the Scammers from North Korea able to Hack SWIFT CODES?

Sanctions-Hit North Korea Stole $13.5 Million From Cosmos Bank: Report North Korea was reportedly using cyberspace for undercover operations "to acquire funds through a variety of measures in order ...
KARTIK GURNANI's user avatar
0 votes
1 answer
598 views

Forgot to remove blanks from IBAN

I've forgotten to delete the spaces in IBAN while sending money via swift.I checked the MT 103-single customer credit transfer paper, Everything is just correct but the blanks.(No missing digits only ...
Mark H.'s user avatar
0 votes
1 answer
2k views

Transferred money to the correct IBAN; however, probably specified an incorrect SWIFT code and the message not included in the receipt

I have transferred a serious amount of money to a French bank from another country. I correctly specified the IBAN number. Additionally, the bank's SWIFT (BIC) code to which I should have transferred ...
cemrifki's user avatar