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  • International wire transfer lost

    My question is regarding a lost international wire transfer from Citibank Shanghai Branch (the one on the bund).

    I am not sure whether USA or China has jurisdiction over Citibank of Shanghai. After I opened an account at Citibank Shanghai, I wired from my U.K. bank account to my own Citibank Shanghai account $3000 USD.

    Because I opened the U.K. account using only my first and last name and the Citibank Shanghai opened my account using my full name (first, middle, and last), they think it is not the same person and refuse to accept the wire transfer. This happened early Nov. 2006. So I asked the Citibank Shanghai to return the wired back to my U.K. account. Citibank Shanghai claimed that they returned the wire on Nov 30th 2006, but my U.K. bank said they never recieved the returned wire from Citibank Shanghai. I called Citibank Shanghai numerous times, but they claimed because they sent out the wire and the out going wire is not returned, they can\'t help me anymore.

    My question is, if I am going to sue them for the lost wire, should i sue Citibank Shanghai or the U.K. bank?

  • #2
    Re: International wire transfer lost

    You can sue either or both in small claims...

    Comment


    • #3
      Re: International wire transfer lost

      My question is regarding a lost international wire transfer.
      I am a UK citizen living and work here in the US.

      On March 2nd 2007 Kestrel International who is handling my UK pension fund through European Pensions Management Limited (EPML), who have requested my annual dis-investment of funds to be wired to my bank here in the US via Royal Bank of Scotland, which was never received by my bank.

      I have been working with my bank and Kestrel International with Royal Bank of Scotland and EPML it has been over six weeks, apparently RBOS said they need a SWIFT number from my bank to enable the transfer to go trough.
      They first said is it was rejected, and then said it went through, I have not received it.
      The situation is not getting resolved. I keep getting the runaround from the Royal Bank of Scotland.
      Numerous e-mails back and forth with no insight

      I had been advised to open a new bank account which has a SWIFT code for them to wire monies via a new wire transfers. I also asked them to resend monies, but reply was that they cannot under Financial Services Authority (FSA) regulations until they receive the funds that have gone missing.

      What can I do to resolve this from here in the US?

      Regards Phil

      Comment


      • #4
        Re: International wire transfer lost

        You can also file in small claims or regular court--that often gets the bank moving quickly.

        Or email the lawyers on the world law home page if you want them to resolve it for you.

        Comment


        • #5
          Re: International wire transfer lost

          I have made two international wires to two different companies in India some weeks ago. The first one was sent to an intermediary bank in New York. The problem was, that I made the wire online (online banking) and there were not enough fields available to enter all the details. Therefore I sent my bank an separate email to explain everything in detail, but they answered that the wire has been already made automatically. This is now 6 weeks ago, the receiver did not get the money and it was not returned to me.

          The 2nd wire was sent directly to the account in India (without an intermediary bank). This is now 3 weeks ago, the receiver also did not get the money and it was not returned to me. I have transferred money to this account in the past from another bank account and it arrived without problems.

          I have contacted my bank several times, and they responded that they get no reply from their correspondent bank.

          The receiver from India asked me for a telex copy of remittance or MT 100 copy from my bank. He wrote that his bank is able to find out within 24 hours where the money is, when they get the telex copy. But my bank does not send me a telex copy, they always reply, that they are waiting for an answer of their correspondent bank.

          What can I do? Should I contact the correspondent bank? Is it possible that I will never receive the money back?? I hope somebody can help me. Thanks.

          Comment


          • #6
            Re: International wire transfer lost

            You could try reaching higher ranking supervisors to push the issue. You may have to be persistent--

            World Law's lawyers could also probably intervene and help resolve this if need be. You may email them on the home page.

            Comment


            • #7
              Re: International wire transfer lost

              I have a similar case, I did a wire transfer using bank of america in baltimore MD johns hopkins branch to my own account in India using SWIFT codes. I was told that india is a slow to pay country and it takes about 3 weeks and no investigations would be dont till then. It has been 2 and a half months and it hasn't gone through. My bank in india has not received anyy information regarding this from bank of america and the bank of america is not willing to help. Every time i contact them they tell me that they are sending e-mail to the bank in india to find the status and that the money is in india and nothing can be done about it and it is possible that i lose my money. I have no clue as to how to go about it. Please help!!

              Comment


              • #8
                Re: International wire transfer lost

                That is way too long even for India,

                Tell them you will have lawyers involved asap if this is not resolved.

                Try to get your personal banker involved if you have a banker you deal with regularly.

                Email world law if need be and they may help as well.

                Comment


                • #9
                  Re: International wire transfer lost

                  I do have a very similar problem. I sent a transfer via Citibank to a bank in Uruguay and the money has been lost for almost 4 weeks. I keep calling Citibank and they tell me that they are still waiting for a response. I am in contact with the bank in Uruguay and they ask me if I can find out which one of the two banks in New York they work with the money was sent to (Wachovia or Bank of New York). I do not understand why the Santander bank in Uruguay is asking me this question and I do not understand why Citibank is telling me that they do not see that information in their system. They tell me that all I can do is keep waiting. If the money is, indeed, waiting in one of these two corresponding banks, could I just call them with the reference and swift numbers to find out if they know anything? What else could I do? I have provided all the information I know of to my bank and to the bank in Uruguay and I have corroborated that the swift number is correct several times.

                  Comment


                  • #10
                    Re: International wire transfer lost

                    I was able to fix my problem. Apparently, Citibank sent the money to their branch in Montevideo-Uruguay and the money was sitting there. When I called Citibank here and asked them which corresponding bank they sent the money to they wouldn't tell me; but it occurred to me that they could have sent the money to the branch in Montevideo so I asked the employee at Santander in Uruguay to call Citibank in Montevideo and there it was.
                    I was not happy with the way I was treated by the Citibank. It seems that these mistakes happen often enough and they should be more willing to help customers problem solve the issue. I solved my problem because I kept asking questions and I brainstormed possible ways in which things could have been wrong but not because I had quality help from people who are used to dealing with these kinds of problems on a daily basis.

                    Comment


                    • #11
                      Re: International wire transfer lost

                      Hello.

                      I had an international wire transfer from Bank of China,China to US Bank in Idaho that seems to be one month old lost.. I tried contacting my recipients bank but they wont deal with me since im not their customer. My Bank here in China on the helped me printout their computer's terminal confirmation message and i sent it to my recipient.. At first my Bank's teller said that it will arrive in 3 days but its been a month now..

                      I want to know if I can go to my bank ask them to cancel this wire transfer and get my money???

                      Comment


                      • #12
                        Re: International wire transfer lost

                        In January, I sent a wire transfer from my community credit union in the U.S. to a company in the Netherlands. However, the company never received the money. After a month of waiting, I asked my bank to cancel the wire transfer. This is when they realized that they had put an extra space in the name, and that is why the receiving bank could not identify the account holder. However, I had already settled the debt (over $5000) another way and asked them to cancel and return the money.

                        Now another month has gone by and they do not know why the money is not being returned. Something about the wire generator and the receiving bank trying to figure it out. But, I have the feeling that they do not know how to get the money back.

                        What can I do? Can I sue the credit union / receiving bank / generator for the money? Can I contact the receiving bank directly to get the money?

                        Comment


                        • #13
                          Re: International wire transfer lost

                          I have made an international wire transfer to a company in Panama on January 13th.
                          They had specific instructions on how to send them money. The amount was $7000 and the bank I sent it to was Commerz Bank AG in Trier Germany. The beneficiary name instructed was a company with a different name than the Panamanian company. It turned out that the Panamanian company contacted me via email advising me that they could not receive the wire because their account in Capital Conservator got canceled. (I\\\'m assuming this is a transition bank). And that I should go to my bank and ask for the funds to be returned to my account. My bank is Bank of America, they have put in a request to return the wire but so far nothing it\\\'s been 30 days now and they have dropped the case. The last thing I was told is that the money is on the German bank but they have not been able to contact the beneficiary to return the money. I tell them that I have a letter from the beneficiary confirming that they could not get the money. I feel Bank of America is not helping much in this case. What can I do? Why would the German bank would not return the funds if it\\\'s the original sender requesting a return? Please help?

                          Comment


                          • #14
                            Re: International wire transfer lost

                            You have to be persistent with the senior officers of the bank or you can get lost in the bureaucracy.

                            File in small claims if you need to get their attention.


                            Perhaps World Law's lawyers or a local lawyer could intervene; email them and ask if they could. That often helps as well.

                            Comment


                            • #15
                              Re: International wire transfer lost

                              For anybody looking for fast and inexpensive (international) money transfers (that don't got lost) : have a look at: www.wld.us and ask for help as I did--Very much recommended! They did it all ---

                              Comment

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