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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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Anyone familiar with transfer issues?

9 Ocober made 1000€ transfer from my Business account to My Wise Bussiness account. Money never arrived . Their answer is They can not locate the money I have even sent a Bank Statement stamped and ...
Zerni's user avatar
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0 answers
108 views

Is Dafexcounty bank legit or scam? [duplicate]

I received the payment for my task on Dafexcounty. However, in order to transfer money to another bank. I need to avail VAT Code or they say Virtual Account Token Coin worth 150$. They said that I can'...
cheesssseee's user avatar
2 votes
3 answers
608 views

Incoming foreign wire transfer landed in someone else's account. How do I get it back?

I was expecting an incoming foreign transfer into my checking account. After much delay, the bank informed me that the wire transfer landed in someone else's account. I realized that the sender made a ...
user2977238's user avatar
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1 answer
259 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
-1 votes
1 answer
606 views

How to wire a check internationally (US to China) without a bank account?

I moved from the US to China. I'm trying to clear out all my accounts and consolidate my assets into my bank accounts in China. I mistakenly closed my bank account before my investment account. Now, ...
user3528438's user avatar
0 votes
2 answers
286 views

How can a regular consumer, use FedNow for cash transfers?

I am so sick of the hassle of Zelle, Venmo, ACH, Cash App, Wires and "bill pay". Where there is no limit, there is a fee. Where there is no fee, there is a multi-day delay. According to the ...
Derek Fulton's user avatar
0 votes
1 answer
142 views

AML Check & Refundable Deposit for releasing the payment

As a freelancer, I have recently accepted a project and the employer agreed to make an upfront of nearly $3000. I asked him to send the money to my uncle's account in the UK. He agreed. I provided him ...
Mohammad Javanshiry's user avatar
0 votes
1 answer
117 views

International Wire transfer USD to USD gone wrong

Our client made a payment from USA in USD to our USD bank account in Singapore, but fund was credited as SGD and converted to USD by which we have lost around 1140 USD in exchange rate loss. Swift ...
Vajja Naveen's user avatar
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1 answer
13k 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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1 vote
1 answer
2k views

Can someone who doesn't have wise account send money to my wise account?

Can I receive money into my USD wise account from someone who doesn't have a wise account. Thanks in Advance
hussamhussam's user avatar
-2 votes
1 answer
118 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
19 votes
5 answers
7k views

Why are wire transfers not reversible by the bank?

ACH payments and credit card payments are both forms of electronic payments. Because of this, reversing a payment is usually as straight forward as calling your bank. However, this does not seem to be ...
AlanSTACK's user avatar
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-1 votes
1 answer
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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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12 votes
7 answers
6k views

If an international bank has branches in two countries, can I bank transfer between them?

I currently use wire transfers to move money from the US to the country in Europe that I live in now. The problem with this is that it's a hassle (I have to call the bank, verify I give the correct ...
Ken - Enough about Monica's user avatar
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148 views

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 vote
0 answers
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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
1 answer
232 views

How can transfer $100k in my US account to my Dutch account

I have a 100k USD in my US account that I want to move to my a Dutch account. My American bank only allows wire transfers if I am there in person (I live in Europe), so that’s impossible. Consequently,...
Max's user avatar
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2 answers
171 views

How do I transfer funds from the US to Japan if the amount is more than the wire transfer limit?

I'm buying an apartment in Japan (which is where I live), so I need to transfer about $150K from my Bank of America checking account in the US to the apartment building company in Japan. According to ...
bubba's user avatar
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1 vote
2 answers
334 views

Sending Large Wire Transfers [duplicate]

I plan to make large amounts of wire transfers daily (which might be more than 10k) because I am a retail seller. Is there anything that I should keep in mind? For example, I heard transactions over ...
Benjamin2002's user avatar
5 votes
4 answers
2k views

What are the benefits of moving larger amounts of money via wire transfer?

Suppose I have a family member attempting to send me a larger than normal amount of money. The question comes up of course about how to actually move it. I'd like to assume that there may be multiple ...
Confused About Money's user avatar
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2 answers
413 views

Do I pay tax on money I send myself in another country?

I live and work in the US. I am a resident in the US for tax purposes, but am not a permanent legal resident (H1-B visa). I am originally from the UK and have some financial responsibilities there ...
GeoMonkey's user avatar
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Is a Sort Code and Correspondent Bank information needed for ALL international wire tranfers to the United States?

I am supposed to have some funds wired to me from a Government Institution (International). I filled in the paperwork provided by my bank (Wells Fargo) and sent it to the institution. They requested ...
Scizar's user avatar
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0 votes
1 answer
375 views

Someone wants to wire money to me as a gift to avoid taxes — is this a scam? [duplicate]

I have been approached by an investor saying that he wants to wire money to my account as a "gift" to avoid taxes. I would get to keep 5%. He has shown many documents showing proof and ...
Sblaker's user avatar
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1 answer
236 views

When shopping online, I prefer bank transfer to credit card for privacy reasons. Is privacy really better with traditional bank transfers?

I shop online relatively often, because online shopping is much more efficient than brick-and-mortar retail. Unfortunately, I therefore also leave behind numerous data traces, which would not be ...
Sybil's user avatar
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2 votes
2 answers
438 views

How can fraudsters set up believable foreign accounts?

I often read of the risk of wiring money to a fraudulent recipient. For example, on a real estate closing, a common scam is to trick the buyer into wiring the closing costs to an account belonging to ...
Five Bagger's user avatar
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22 votes
1 answer
5k views

Wired to the wrong account

Recently, I sold my house that I've been living in for over 20 years. It was almost all paid off, so I got a huge amount of cash in my account. (About 5x my yearly salary). I bought a new house, and ...
Jeffer's user avatar
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0 answers
79 views

Freelancing from India to USA Employer - Upwork or USA Local Bank Account?

We are a Private Limited Company based in India. Recently I was working on Upwork with our client and now they are willing to work directly with us. We have 2 options for payment : Continue Upwork (...
j10's user avatar
  • 121
-3 votes
1 answer
124 views

Why is direct money transfer to other people accounts so expensive?

I see from a similar question that in the US and Canada wire transfer are even more expensive than in Europe where I live. But I am interested in the situation in Europe even though their cost is ...
FluidCode's user avatar
  • 245
11 votes
6 answers
5k views

Is it possible to send money to my friend in the US using a wire transfer?

Me and my friend are both Europeans and used to sending money to other people by just asking for their bank account number. We were sitting around recently and were wondering - is it possible to send ...
JonathanReez's user avatar
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13 votes
3 answers
5k views

Why do escrow services use wire transfer?

Escrow services seem to typically require earnest money funds to be deposited via wire transfer. These days the wire transfer instructions will be surrounded by 50-point bold red text warning you that ...
user45623's user avatar
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119 views

A US bank says it can't send an international wire transfer even though it goes through a US correspondent bank with a US swift code

I am trying to have money wired from a small bank in the USA. I was told they couldn't send money out of the country but as the money has to go through a correspondent bank in the US with an American ...
Mary's user avatar
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3 votes
0 answers
227 views

Do incoming wires to my bank account get reported to the IRS? [duplicate]

If I wire a large amount of money from an online exchange to my bank account, will it get reported to the IRS? The money is coming from a Crypto trading exchange. Edit: this question is not related to ...
Guest199's user avatar
1 vote
2 answers
535 views

Is it illegal to transfer money to my girlfriend in Taiwan?

I am working in America. My girlfriend is in Taiwan. Every month, I will transfer 800 USD to her via Bank of America. Is it illegal? Will it be considered money laundering?
CC GG's user avatar
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1 vote
1 answer
108 views

What are the conditions required by a US bank to withdraw an international wire transfer?

A friend of mine was probably close to being defrauded (he is a painter, someone sent him a document certifying that he did a wire transfer to his bank for three painting he wants to buy, asked for ...
WoJ's user avatar
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4 votes
2 answers
11k views

What is the difference between SEPA and a wire transfer

I am currently reading stellar documentation and I wondered about this part: Deposits and withdrawals should be processed through local domestic payment rails (ACH, SEPA, SPEI, etc.), not via wire ...
Martin Thoma's user avatar
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
99 views

Why are outgoing international wires from the United States typically more expensive than outgoing domestic wires?

I see on https://www.finder.com/bank-fees-wire-transfers (mirror) that outgoing international wires from the US are typically more expensive than outgoing domestic wires: Bank Incoming domestic wire ...
Franck Dernoncourt's user avatar
0 votes
2 answers
2k views

Wire instructions with an intermediary without an intermediary account number

I have an account with Citibank in Taiwan, and I want to wire money into it from the US from an Ally Bank account. Ally Bank doesn't do international wire transfers. I need to provide an American ...
ieatpizza's user avatar
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6 votes
2 answers
1k views

Why are ACH transfers typically free, while wire transfers cost money?

I read on finance.umich.edu: A wire is a real-time method of transferring immediate funds and supporting information between two financial institutions and is relatively expensive to use. An ACH is ...
Franck Dernoncourt's user avatar
1 vote
1 answer
350 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
  • 13
2 votes
2 answers
128 views

How to pay a large invoice from a company in a European country from the US

Is a wire transfer the only way? I'm not near my normal bank who requires you to be in person to wire money so I'd prefer another option if it exists
brezotom's user avatar
  • 123
1 vote
1 answer
18k views

What is the difference between TT and OD currency exchange rates?

I was looking at Singapore dollar exchange rates provided by a bank: Source: Foreign Currencies - Foreign Exchange | POSB What is the difference between TT and OD?The webpage itself says: ...
Flux's user avatar
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1 vote
3 answers
5k views

Scam — wire transfer recall not possible

I've been scammed in an online investment by wiring 10,000 USD to a mule account. I called my bank the same day to get it recalled. The beneficiary bank, Bank of America (BofA), asked for a police ...
kcount29's user avatar
2 votes
1 answer
162 views

What forms if any do I have to fill out for international wire transfers of over $10K?

Family overseas wants to send me money via wire transfer to the us over 10k. I know that for all cash deposits over 10k i have to fill out a form. Is this the same for wire transfers and would the ...
one two 's user avatar
1 vote
1 answer
175 views

How long to wait before spending wire transfer money?

I made a trade online and someone wire transferred me some money. There's a possibility that the person might reverse the transaction. So how long should i wait before it is confirmed that the money ...
P.Gupta's user avatar
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-5 votes
2 answers
1k views

Meet a girl at tinder, she's asking for me to wire transfer in her name

So I meet this girl on tinder, after a few weeks of chatting she tells me that she's sending me her bank account info (by the way the bank doesn't looks legit it's Ukraine base) and want me to ...
Chiquirichaparas's user avatar
0 votes
0 answers
41 views

Question regarding the acceptance of wire instructions

If a bank receives a wire instruction with the correct routing number but an erroneous prior bank name (due to a merger) will the bank still send the wire transfer or reject it and ask for accurate ...
rick's user avatar
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2 votes
1 answer
242 views

Is my money insured against bank failures during a wire transfer?

Suppose I am sending money by international wire transfer from my FDIC-insured bank account in the US to my CDIC-insured bank account in Canada. Suppose one of the banks become insolvent during the ...
Flux's user avatar
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1 vote
1 answer
428 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
2 answers
836 views

Is there a "structuring" risk when receiving international wire transfers?

I am trying to move a large sum of money from abroad to my bank account in the US via wire transfer and I don't want a Currency Transaction Report (CTR) being filed by my bank (if it's not necessary) ...
IndividualThinker's user avatar

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