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Old 04.10.2018, 21:48
eairicbloodaxe eairicbloodaxe is offline
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Re: Internationa bank transfer - money "lost" or "blocked"

Sadly, we have also had the same for one of our clients.


The money went out from CH and never arrived. Same issue with correspondent bank - they won't talk to us. At first, no one could say what happened. Then Swiss bank blames the German correspondent bank, German bank blames the receiving bank. Receiving bank won't tell anyone who they blame.



Money was converted from Euro to receiving currency before sending. ONE MONTH later, it comes back... in Dollars. Exchange losses X 2.



In the mean time, we sent it again. Same thing happens... it disappears. Only to come back a month later in another currency.


After many months of wrangling, it is finally determined that the sending bank made a typo on their instruction. This triggered an AML/KYC issue. And when we repeated the transaction... yes, they just copied and pasted it.


We are still haggling over who pays what to cover the currency losses. And waiting for a proper apology.


Unfortunately all you can do is kick, kick, kick.


Regards


Ian
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