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Questions tagged [wire-transfer]

a mechanism to electronically transfer funds from one account to another account. Generally used to cross-border transfer, i.e. moving money between accounts located in 2 different countries.

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What is the cheapest way to send funds from Sweden to Switzerland?

I need to make a payment of about 6200 CHF to a Swiss bank account. My money is in SEK in a Swedish bank account. Would it be preferable to use Transferwise / something similar to it, or should I ...
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Which method CHATS, ECG, or TT should I use to transfer funds to account in Hong Kong Bank?

I've personal bank accounts with Shanghai Commercial Bank in Hong Kong (henceforth "SCB") and HSBC Hong Kong ("HSBCHK"). SCB accepts the FPS Identifier only to receive funds, and not to send funds to ...
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1answer
53 views

International wire transfer from US to UK

I'm planning to emigrate to the UK. I'd like to transfer my meager fortune from my local bank to a UK bank once I establish an account there. Does the US government want to know that I am taking my ...
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3answers
95 views

The alternatives to checks, credit cards, and cash, for transactions

So personally I pretty much just use a credit/debit card for most purchases, but cash is not uncommon, and checks are often used for paying rent to landlords or some small businesses. Then there are ...
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1answer
35 views

Unable to transfer funds from resident savings account to NRO account

I recently opened NRO and NRE accounts in India as it is illegal for an NRI to hold resident savings account in India. I want to transfer money from my Resident savings to account to my NRO account ...
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2answers
198 views

Why are international money transfer services so weird? [closed]

I've read this question: Looking for cheap international bank to bank transfer in USD and noticed several factual claims: A "standard international wire transfer" costs $40 USD, a huge fee. It's ...
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3answers
236 views

Receive a large wired transaction

Hypothetically, I am receiving a large amount (over 100 grand) from a company through a wired transaction. As the receiver, would I be questioned about the source of funds? Or just the company would ...
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1answer
285 views

How to report a money laundering scam that is recruiting on a college campus via social media? [duplicate]

I know, I know; "Is this a scam?", yes, I had to ask. As of recent, I have heard 3 separate people in conversation on my campus mention a "sales job" they undertook after being contacted on LinkedIn ...
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1answer
192 views

Transfer $0.5M from US to Canada [duplicate]

I have accounts in both U.S. (several banks) and Canada (BMO). I have $500,000 in my U.S. account. If I am now leaving U.S. permanently and moving to Canada, what is the best way to transfer all of ...
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39 views

Why can a domestic wire transfer involve international intermediaries?

I recently made a wire transfer from Fidelity to Wells Fargo. I explicitly used their routing number rather than the SWIFT code. From the posted transactions I see the fund comes from Citibank ...
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1answer
79 views

If I entered the SWIFT code of a branch in another state, will I receive my wire transfer?

I live in Madhya Pradesh, India. While entering the SWIFT code on my AdSense account, I used the SWIFT code of a bank branch in other state. My local branch does not have SWIFT code. My account ...
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1answer
368 views

Can a transfer go through if the IBAN and SWIFT is correct, but the beneficiary name is wrong?

A customer of mine wants to pay me from the usa to my account with N26 bank.N26 Bank is a German online bank with no branches but available to customers in the euro-zone.I opened my account online in ...
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3answers
1k views

What happens if I made an international transfer without SWIFT code?

I've just made a transfer from my Hungarian bank account to my new, Canadian one. However, I didn't have any knowledge of my SWIFT neither my IBAN code. I transferred a serious amount of money, and ...
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1answer
255 views

Can a transfer go through if the IBAN and SWIFT is correct, but the address and country of the bank is wrong?

A customer of mine wants to pay me from the usa to my account with N26 bank.N26 Bank is a German online bank with no branches but available to customers in the euro-zone.I opened my account online in ...
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1answer
90 views

How many days of interest do I lose if I make a wire transfer from one bank to another?

I suppose this will depend on the banks, so what's typical? Do any banks do this in 0 days? What's the longest which would still be allowed by law? Both bank accounts are already established and in ...
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11answers
12k views

Why is a transfer from an account to another not done instantly when it's not the same bank?

I own accounts at two different Romanian banks. When I transfer money to another account at the same bank, the money is transferred immediately. However, when I transfer money to an account at a ...
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2answers
304 views

What happens if there is a typo in a wire transfer?

Does the banking system check the recipient's name and/or address when doing (domestic) wire transfers? What happens if there is, say, a typo in the bank account number? Is the money essentially ...
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1answer
195 views

How can I accurately anticipate wire transfer fees from intermediary banks?

When sending an international wire transfer, the transmitting and receiving financial institutions both (usually) assess fees associated with the transfer. These fees can be accurately anticipated by ...
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1answer
80 views

Question about Wire Transfer

I recently changed address, but have the same bank account details. My employer has sent the wire transfer to my account with all the information correct, but listed my old home address. Will this ...
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1answer
457 views

Transfer money from UK bank account to Pakistan Foreign Currency account

I was a student in UK last four years. Now I moved to Pakistan permanently. I saved a lot of money there in my UK bank account. Now I want to keep that money in pounds, therefore I am thinking to open ...
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1answer
71 views

Are account numbers required for international SEPA transfrers

I want to carry out a wire transfer to a bank outside of the SEPA zone. The form doesn't a field for the account number. It has the account name, BIC, IBAN, bank name and address. Are account numbers ...
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0answers
297 views

Is it possible to withdraw money from etrade.com (after selling stocks) to a Transferwise Borderless account?

I am a non-US citizen, having completed the W8-BEN form on etrade.com. Is it possible for me to transfer my money from etrade.com, to the USD account corresponding to the TransferWise Borderless ...
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2answers
136 views

Sources of international wire charges?

A person in China wire transferred X US Dollars (after fees & charges of the sending bank) to my Capital One 360 checking account in the US, and the amount I received was X-15 USD. When I contact ...
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2answers
138 views

Bank asking first transfer to be a wire transfer to NRE account

I have opened an NRE account with IDFC Bank. They are asking me that my first fund should be transferred directly from my US bank account (possibly through wire transfer). Is there any rule like this ...
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0answers
55 views

Is it possible Receive Money from Authorize.net direct to bank

i have a question. I just work for my client that currently stay in Dubai, after the project done they said want to send me the money. They ask for my bank account, swift code, my name and address. ...
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1answer
803 views

How to wire transfer from Europe to a CIBC account please?

I am trying to receive money from a European company to my Canadian CIBC account. I received the SWIFT CODE - CIBCCATT from my bank. The company also asked for a BSB NUMBER. The person I spoke to at ...
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2answers
2k views

Is there a limit of how much one can get wired to a US bank account from another bank account in a foreign country?

I know about the 10k limit if you deposit cash where you are required to fill out a form. But what about a bank to bank wire transfer? Is there a limit to how much you can receive before you have to ...
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2answers
1k views

Will I need to worry about “structuring” with wire transfers?

I am moving a large (for me) amount of money from a US bank account to a Danish one. Both are in my name. In order to even out the risk of transient exchange-rate spikes I'm planning to do it as a ...
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4answers
580 views

Does transferring $10 to various bank accounts count as money laundering?

I am making an app that rewards users with real money for using the app. The money comes from the profit I get from ads the user views. Basically, I am sharing my ads profit with my users. However, ...
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0answers
50 views

Arbitrage between India and USA [duplicate]

So, I am from India and I am not aware of the red flags mentioned in the process below. My friend who resides in USA purchases Bitcoin or any other crypto-currency and transfers me to my wallet in an ...
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3answers
1k views

Can a wire transfer be reversed?

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 ...
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2answers
100 views

Missing wire transfer from Israel to United States

Over one month ago before I left Israel, I wire transferred funds from Israel to US Bank. As of today, US Bank stated that they have not seen the transfer. I have contacted the bank in Israel several ...
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1answer
1k views

How to trace a failed SEPA bank transfer

A UK bank initiated a transfer for a client of mine to my own account. The wire was in EUR and my account is an IBAN EUR account. 7 days passed and the money are not with me. They did not return to ...
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2answers
360 views

How to prove that I did not receive a payment

I'm working with an online company that sends payments through a bank. I sent them a payment request a while ago with my IBAN + the bank SWIFT and other details provided, so they could transfer the ...
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1answer
960 views

How long would an international wire from US -> UK take?

I've recently been paid in wire from the US, my bank is HSBC - how long would the transaction usually take? Thanks!
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1answer
57 views

What is the cheapest way to send Euros from cash Japanese Yen in the Netherlands? [closed]

Suppose one has ~300000 JPY in cash. In the Netherlands, what is the cheapest way to convert this cash to EUR, and send it to an account?
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1answer
60 views

Check (USD) or Wire Foreign

I am starting a few months job for an US company, but I am based in London. I will have a "vendor" role. I have been offered two options to get paid: Check or Wire Foreign. What would you recommend? ...
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1answer
252 views

Direct deposit in UK in USD or wire transfer from USA: What would be the best option?

A conference where I am invited to, as a speaker, asks to select either one of the following 2 options for money transfer: Direct deposit in USD Wire transfer. The conference is happening in London ...
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3answers
436 views

How to send money across borders physically and inexpensively, but not via cash?

I would like to transfer money from Argentina into Chile. Usually, within countries, there are safe ways of physically (i.e. without a SWIFT or other wire) and inexpensively transferring money ...
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0answers
143 views

Is there an instant international currency transfer service? [closed]

My bank has a service that allows you to instantly send money from an account in one country to another account, with the same bank, in another country. The problem is they place fairly low caps (...
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1answer
459 views

Why dont people in foreign countries buy bitcoins directly from USA

I had a query related to buying and selling bitcoins from a foreign country like India where bitcoins can be bought locally now. I was wondering why people in India buy bitcoins locally through the ...
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2answers
822 views

Wire transfer held by bank?

A client of my father should have received a payment via bank transfer from Belgium to Italy. It's been almost two months now but he hasn't received the money. The buyer keeps saying she sent the ...
4
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1answer
574 views

When should I use Layaway vs. saving up for an item?

I'm going to buy a watch for $100,000. The seller says that I can deposit $30,000 by wire-transfer, and then pay the whole thing off in 6 months, and after it is fully paid, I will get the watch. I ...
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1answer
311 views

Why are domestic wire transfers free in France but cost ~20 USD in the United States?

Domestic wire transfers are typically free in France: example (mirror). Domestic wire transfers cost around 20 USD in the United States: see below for some examples, taken from nerdwallet (mirror) ...
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0answers
124 views

Money SWIFT Transfer to India in USD

I sent money from my bank in Oman to a bank (J&K bank) in India. The transfer was in USD. I had initiated the transfer in April-2016. The money was returned (when it is not known. I suspect ...
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1answer
1k views

Is there a list of intermediary banks for the U.S. wire transfer system?

I've been hearing that there are only 4 banks that actually service international U.S. wire transfers. Those banks then forward transfers to all domestic banks. Which institutions are those? Secondly,...
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1answer
71 views

What is Deutsche Bank “Free Order”?

Want to transfer Canadian dollars to German DB bank in without converting to Euro. Idea is to wait with the exchange till the time when exchange rate is more favorable to Canadian dollars. I was told ...
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1answer
200 views

A foreigner has $11,000 and they are flying to the US. They claim it on FinCen 105. They show the form to the CBP agent. What happens next?

A foreigner has $11,000 and they are flying to the US. They claim it on FinCen 105 and the CBP Form 6059-B. They show the forms to the CBP agent. What happens next? The purpose is a long family ...
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1answer
987 views

How to know precisely when a SWIFT is issued by a bank?

According to what I understand from SWIFT principles, the issuance time and date for a SWIFT instruction are held in the "Message Input Reference" (Also known as MIR in the SWIFT terminology), like ...
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0answers
355 views

International Money transfer from Australia to Japan. Problem with the account number

I need to transfer money to a Japan bank account. The payee bank details are shown below: Bank Name: THE SHIZUOKA BANK, LTD. Bank SWIFT: SHIZJPJT Account Name: Omitted Account Number: xxx-xx-...