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My international wire transfer got stuck for 12 days over a name mismatch
I sent a payment to a supplier in Germany last month, and the receiving bank flagged it because my company name on the transfer, 'Mark Hernandez Design,' didn't exactly match their account title, 'Mark Hernandez Design LLC.' It took 3 phone calls, 2 faxed letters of explanation, and 12 total days for the funds to finally be released. The hold-up was entirely in the intermediary bank's compliance review. Has anyone found a reliable way to avoid these name verification delays on business payments?
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the_robert29d ago
Ugh, that sounds like a nightmare. Did your bank give you any warning that the names had to be a perfect match before you sent it?
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the_olivia29d ago
Yeah, that's a brutal delay. @the_robert has a point about warnings, but my bank's "help" is just a tiny footnote nobody reads. Did you find out if the intermediary bank had a direct contact for compliance, or were you just stuck calling the general help desk the whole time?
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