Wire Transfer Cancelled by Reciepients Bank
So I made a international Wire transfer ($6k) from chase bank to germany and turns out that the receiving bank cancelled the wire because they did not get the cover funds. Chase then recall the wire. Will I get my money back or i will be stuck in a loop where I keep calling chase and they keep telling that there is no response from the receiving bank. Anyone had a similar experience. Thanks
That sounds like an excellent question to ask the bank. Were you wiring it to a Nigerian prince by chance?
yes in return he offered me a million euros
I thought wire transfers are dead? OP, this is your learning. Next time do transferwise or something. Sorry for not really constructive post.
No, wire transfers are not dead, I use them regularly for real estate funds transfers and have used them for international transfers when other services like Transferwise or Western Union are unusable due to dollar amount limits.
Really? Most US banks have limits of 100-250k per wire while transferwise has 1m so not sure what limits you refer to.
Yes you'll get your wire back it takes a couple days. Pick up the phone and call Chase they'll tell you the same shit.
though its been two weeks since they swift message my bank that they cant apply funds
It takes time because wires don't go direct from your account it is withdrawn from your bank who stages it into one of their accounts which then goes to the recipients bank. It has to pass back through those channels and there are settlement timeframes at each stage
Next time try Western Union or XOOM. Better than wire transfer.
learned my lesson
Use crypto's next time
I before E, except after C
Fun fact - that rule of thumb is wrong more than it is right.