Quote:
Originally Posted by SwirlsGirl
Hey Charger I hear what you and Robbie are saying and you both are correct regarding discussing a clients personal account HOWEVER....what I am suggesting is that you present to the bank or any bank a hypothetical like could a corrupted swift file cause a week or more delay in funds, or is a corrupted swift file something that is a routine mishap that is normally corrected within a day?
Sure I would not expect my bank to discuss specifics about my account with anyone else, however what I meant to say was phrase as a general question without going into specific account details...
I think we all would be well within our right to take a minute and ask some random banks about some of these excuses we get routinely. Then and only then will we at least get a sense if they are being straight or if they have concocted a cover story
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Wires aren't rocket science. If the SWIFT file went unread due to corruption, the submitting bank should have known when they did not get a wire confirmation report back from the receiving bank. This shouldn't take more than one day to start coming in, two at the outside..
For international wires coming to the U.S. unless you bank with a major (B of A, Wells, et al) it is fairly likely that your local bank has a respondent relationship with one of the majors, in effect a forwarding order. So wires are sent on say Tuesday, the respondent major bank gets notification on Wednesday and clears the file either Wednesday intra-day or Thursday, so you should have your payment no later than Friday.
So lets assume that Zombaio's bank issued wires with corrupt SWIFT on Tuesday. On Wednesday they have no confirmations from the receiving banks. By Wednesday close of business they should have a handle on what happened. So let's say they miss their wire window for Wednesday and send Thursday. By Monday or Tuesday with the corrected file submit, wires should start hitting respondent banks and by Tuesday Wednesday they should reach their final destinations.