# Bank wire transfers



## Becky (Dec 6, 2008)

Has anybody had any issues getting wire transfers from foreign countries? I've had two different overseas buyers paying for horses with wire transfers and it's been a nightmare!


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## MinisOutWest (Dec 6, 2008)

Becky, I have never had an issue with international wire transfers. I have always used a larger bank, like a wells fargo, but all you need is your banks international wire transfer acct number and then your acct number, usually a charge to recieve an international transfer is $25. my last one was from south africa, no problems at all.


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## Teresa (Dec 7, 2008)

Becky, the key is using a bank that does a lot of international banking. It is not sooo hard and it is a process. Good luck.


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## Becky (Dec 7, 2008)

The problem I'm having is that it routes through 2 different banks before getting to mine. And I've used two different local banks!

The last two wires from two different buyers in two different countries have stopped at the Bank of New York and haven't haven't made it any further. Grrrrr.......


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## anita (Dec 7, 2008)

Bank of America


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## Vertical Limit (Dec 7, 2008)

Never a problem here and I do everything through my credit union.


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## Riverdance (Dec 7, 2008)

I have had several Wires come in from France. Some of those went through the Bank of America in New York, some came straight to my bank. I also had one from Columbia with out any trouble and I use a small bank not a large one.

I do notice that for every bank that it goes through, they take their $25 or more dollars. So if your wire is going through two banks before it gets to yours, expect it at least to be $75 short.

I would guess that if you are having trouble, it is something she buyer did wrong with the wire trainsfer.


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## Becky (Dec 7, 2008)

Let me ask you this - do you just give your bank and a SWIFT code or do you have to give multiple banks for the funds to be routed through? There just seems to be a lot of confusion overseas with the multiple banks I have to give them. I'm trying to get this figured out so I can alleviate this problem.


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## anita (Dec 7, 2008)

Hope I understand your question right.

Routing # account# and name

We use Bank of America, goes to BOA NY and from there spread to our local. Order needs usually 3-5 days.

To Wells Fargo or other Banks needs more time, 1-2 weeks longer, and more $


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## MinisOutWest (Dec 7, 2008)

wells fargo and any other bank who does international wire transfers, as long as it goes in by the transferring banks time cut off, lets say 2 pm, it should hit your account within hours. if your bank is taking days/weeks, you are getting ripped off. ALL of my international wire transfers have taken no longer than 6 hours to hit my acct. You give your customer your banks 'international wire transfer acct' number, not their regular wire transfer acct number, your acct number and your name /address. It might be worth going and opening an acct at a larger bank so international transactions are not difficult, then just write yourself a check into your 'small local bank' acct. I ran a bank for years, I should know how it works, so saying wells fargo takes days or weeks , is totally misleading and false. If you need to PM me, I can call you and help you thru it. I just hate when people make easy things difficult..and people who take advantage of people too when it comes to banking... Or maybe the local people at your bank do not realize they have an International wire transfer acct number.... they have to offer one to be an OK bank in the first place, so do not let them fool you. I looked up the banking regs for your state.


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## ThreeCFarm (Dec 11, 2008)

Becky, I had no trouble last year when the buyer from Germany did the wire transfer for Noah. You only give YOUR bank info, not the banks for it to route through. I didn't realize they went through other banks? I did mine through my credit union. To be on the safe side, I opened a new account just for the transfer, then when it came through I moved the money to my "real" account and closed the account that I used for the wire transfer.


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## Becky (Dec 14, 2008)

> You only give YOUR bank info, not the banks for it to route through.


Apparantly, the banks here don't want to do it that way. I've tried (have accounts at) 2 different banks and they both give me the same information. A buyer in France has given up after trying to wire money to me 3 times and it just goes back to her.






I guess I'm going to get on the phone this week and start calling banks in the area until I find one that the money can go directly to. I hope I can find one like that!


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## ThreeCFarm (Dec 14, 2008)

Wow, that is terrible!!!


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## funnybunny (Dec 15, 2008)

We have not really had trouble sending and receiving transfers to and from Europe, Australia and Japan.

Perhaps the key is, as TrailersOutWest said, is that some people don't know what they are doing.

If you are in a really small town, you might go to a big town where there is a branch of that bank and talk to someone who is familiar with the procedure. Sometimes they are tempted to keep your money overnight, due to different hours overseas, but most of the time you can get it rather quickly.

And the SWIFT code does help a lot.


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