Help! My Outbound Swift Transfer Is Missing

[007]

I have an unusual problem. Maybe someone can give me advice before going to the bank. I made a SWIFT transfer yesterday from my Thai bank account to my account in the U.S. The money should have been there the same night, but after 24 hours it still isn't! I've checked all the data and codes I provided for the transfer; they are all 100% correct. I suspect that it was either a mess-up by the bank here in Thailand, or of the U.S. bank where the financial institution's account is. It seems that only the sending bank (here in Thailand) can trace it. My questions are now:

1. How can/do they trace it?

2. How can I recall the money/do a chargeback to my account in Thailand?

3. If possible, how can I 'speed-up' the SWIFT 'lost' in the system in order to have the money credited to my U.S. account (=preferred option)?

Edited December 14, 2011 by 007

[PattayaParent]

Shouldn't you be in your bank right now asking them those questions?

[lopburi3]

I have never done so can not say how long it should take but I would not be concerned yet.

[Naam]

1. How can/do they trace it?

2. How can I recall the money/do a chargeback to my account in Thailand?

3. If possible, how can I 'speed-up' the SWIFT 'lost' in the system in order to have the money credited to my U.S. account (=preferred option)?

1. swift has its own tracing function.

2. you can't recall the money.

3. you can't speed-up tracing.

don't panic! just wait another 24 hours.

[seedy]

Going Canada to Thailand has taken up to 3 days in the past - my experience.

[007]

Shouldn't you be in your bank right now asking them those questions?

Yes, but I also have a job here in Bangkok. Besides, I was still hoping that it's just 'delayed' this time, and the money would eventually 'pop-up' till noon.

[007]

1. How can/do they trace it?

2. How can I recall the money/do a chargeback to my account in Thailand?

3. If possible, how can I 'speed-up' the SWIFT 'lost' in the system in order to have the money credited to my U.S. account (=preferred option)?

1. swift has its own tracing function.

2. you can't recall the money.

3. you can't speed-up tracing.

don't panic! just wait another 24 hours.

Thanks. However, according to Wikipedia recall of wire transfers is possible. And what to do if the money still doesn't turn up after another 24 hours?

Edited December 14, 2011 by 007

[billd766]

I assume that you have a paper copy as well as the bank statement confirming the transfer.

If you have a paper copy of the transfer, scan it into your computer and print several copies and if the bank ask for it, show them the original and give them a copy. Do NOT give them the original just in case they "lose" it.

If so , them there is at least proof that it was at the bank in Thailand at the date and time on the transfer slip.

You could try either ringing the bank and hope you get an English speaker, go to the bank on line, check your account for the transfer, check the USA bank online and if nothing shows go to the Thai bank helpline and see what they can do.

[puck2]

You didn't mention the amount of the SWIFT-transfer. There might be a control for money laundry ?

[Naam]

1. How can/do they trace it?

2. How can I recall the money/do a chargeback to my account in Thailand?

3. If possible, how can I 'speed-up' the SWIFT 'lost' in the system in order to have the money credited to my U.S. account (=preferred option)?

1. swift has its own tracing function.

2. you can't recall the money.

3. you can't speed-up tracing.

don't panic! just wait another 24 hours.

Thanks. However, according to Wikipedia recall of wire transfers is possible. And what to do if the money still doesn't turn up after another 24 hours?

some years ago i had a problem with an outgoing SWIFT transfer. the amount was incorrect. at that time i was told that the money has to be credited first before a recall can be made. i assume that is still the case because the whereabouts of the money are not known till it reaches the final destination.

[007]

I assume that you have a paper copy as well as the bank statement confirming the transfer.

If you have a paper copy of the transfer, scan it into your computer and print several copies and if the bank ask for it, show them the original and give them a copy. Do NOT give them the original just in case they "lose" it.

If so , them there is at least proof that it was at the bank in Thailand at the date and time on the transfer slip.

You could try either ringing the bank and hope you get an English speaker, go to the bank on line, check your account for the transfer, check the USA bank online and if nothing shows go to the Thai bank helpline and see what they can do.

The Thai bank helpline told me to contact the branch where I did the transfer, and the receiver doesn't have a clue. Maybe I could enquire with the corresponding(?) bank in the U.S. Anyone have an idea of such an online helpline at Citibank in the U.S.?

[jumbo]

The Thai bank helpline told me to contact the branch where I did the transfer, and the receiver doesn't have a clue. Maybe I could enquire with the corresponding(?) bank in the U.S. Anyone have an idea of such an online helpline at Citibank in the U.S.?

You need to wait up to 3 days, around a weekend even longer...

You should have received a transaction paper with a tracking number but a regular bank employee will not know what and how. Scan it, look at the email address for complaints on the bank website and file complaint..

Most probable answer; please wait another 48 hours

Edited December 14, 2011 by jumbo

[Jdietz]

If it was over 10K USD (or nowadays maybe less) it will probably be on hold pending manual approval. So yeah give it another day or so.

[007]

You didn't mention the amount of the SWIFT-transfer. There might be a control for money laundry ?

No, it's less than 10,000 USD. Also, I wired out more than that to the same destination before, without any problems.

Edited December 14, 2011 by 007

[Mystory]

You didn't mention the amount of the SWIFT-transfer. There might be a control for money laundry ?

No, it's less than 10,000 USD. Also, I wired out more than that to the same destination before, without any problems.

Depends on what time of day you did the transfer, my transfers dont usually pop up for 24 hours and usually get released after 8pm Thai time as when the rest of the world wakes up.

[nong38]

I sent a swift transfer early this year for £30K+ I expected it to be there in 3 days, it had not shown up so my UK bank put a trace on it and found it was with the recieving banks head office compliance dept, they gave me a number to call, a time to call and the name of the person who would be on the other end. She told me they had the money and would now put it my account and they did.

Now if I had not gone done to the bank to fing out what was going on I might still be waiting and yes I am sure that money laundering issues are part of the hold up.

Get copies of your paperwork that is good advice as is keep the original, now get down to the bank and get them to sort it out for you, its their job and you still have not given us any idea how much is in question someone seems to think $10K+ might be being looked at.

Edited December 14, 2011 by nong38

[sms747]

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Recently a transfer going the other way took two weks to sort out. The UK bank had missed one number off the account so the money was stuck in a holding account. Banks did not seem to ,communicate very well together so it took a lot of asking and phoning by us before the bank here agreed they had it and they uk bank admitted their mistake. Worrying but i'm sure it will turn up if you persist, banks don't seem to care where it is.

[GreenSnapper]

My SWIFT transfers from Europe to Thailand always take exactly 48 hours - if initiated in the morning.

To Singapore it takes even one extra day, 72 hours.

So wait at least 3 working days, too early to worry now.

[007]

Depends on what time of day you did the transfer, my transfers dont usually pop up for 24 hours and usually get released after 8pm Thai time as when the rest of the world wakes up.

Spot on! Okay, I didn't get anywhere inquiring where the money is. Fortunately, it turned up after 31 hours, vs. earlier completion after only about 10 hours. I guess, the difference to earlier transactions was that this time I did it after 12.30 in the afternoon instead of 10 or 11 o'clock in the morning... Anyhow, all's well that ends well. Thanks guys for all your great advice, and happy holidays!

[007]

[

Recently a transfer going the other way took two weks to sort out. The UK bank had missed one number off the account so the money was stuck in a holding account. Banks did not seem to ,communicate very well together so it took a lot of asking and phoning by us before the bank here agreed they had it and they uk bank admitted their mistake. Worrying but i'm sure it will turn up if you persist, banks don't seem to care where it is.

That's exactly why I was worried; there are some bad horror stories on the web about telegraphic transfers that didn't show up after weeks and months.