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This is a somewhat common practice in various parts of the world. I know several European (both continental and UK) and Canadian banks who do require use of a specific intermediary, and almost all banks in those regions also offer to send money via a specific intermediary. It is allowed in most countries, in fact bank accounts are (generally) not legally ...


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If the account number is not of beneficiary, but is a valid account number, it would get credited to someone else account. If the account number was invalid, it would be returned. This takes few weeks at times. Best is raise a query with your bank saying beneficiary is claiming non receipt of funds (BCNR). Your bank would investigate with beneficiary bank ...


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If you are both sender and receiver, use SHA. It's simple and easy, plus you will know who is charging more... In this specific case, First National shouldn't be charging anything as they would receive the funds over CHIPS network.. OUR for retail individuals works on approximation of charges and can be more or less. Generally there are 4 bank's at times ...


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From a domestic perspective, within the US, the form you heard about is likely IRS form 8300, Report of Cash Payments Over $10,000. The requirements for that form include a $10,000 threshold which causes people concern when they're doing bank transactions over that amount. However, the form is strictly targeted and often people find it doesn't apply to them. ...


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It's possible that your IBAN number will change. When bank A continues to operate under its old brand even though it is now 100% owned by bank B, then they will likely retain their own bank code and thus all customers will keep their IBAN numbers. But when bank A no longer exists as a separate entity, then it is indeed likely that they are going to unify ...


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It doesn’t matter whether the banks are private or public. The acquiring bank will work out its own policy regarding account numbers and whether it would continue maintaining the acquired bank as a separate entity. Either way, you should ask the bank to provide you with the new details you need to give to your employer. Even if they have decided to retain ...


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In general there are only two sets of people that can help give you useful information - the sending bank and the receiving bank. I have always started with the receiving bank, and ask them for an update and timeline. For instance I once called a bank that said they saw the incoming transfer in the system, so they had it, and said they try to complete all ...


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