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international remittance not credited to Commercial bank
- Thread starter Hotpie
- Start date
yes i did.
the transfer was successful from their end.
noop just a regular bank to bank transfer.
------ Post added on Jul 25, 2022 at 6:09 PM
country? originating bank? currency? it is because swift system transfer is going through different intermediary banks so it can take upto 5 business days to reach the destination
May be you need to check with the bank. Recently, I had a similar issue. They suspended my account when I withdrew some freelance money. But they called me and asked to come to the bank and prove my earnings. Better to check with the bank.
CBQ
Qatar
QAR
Yes cbq's lk intermediary is sampath bank.
The thing is I transferred funds regularly to same account with the cbq to combank.
Never faced a issue.
This issue occurred only this time.
Customer service
Called & informed , Sent email to beneficiary combank acct
------ Post added on Jul 25, 2022 at 9:03 PM
this is not correct SWIFT ,if it it is telegraphic transfer (TT) that happens instantly. If it was bank to bank there must be corresponding bank in final destination(SL) your bank's SWIFT will only trace it to that bank (sampath in this instance). Sampath, should get the funds immediately , but since you cannot call Sampath directly as they are not your bank you should reach your bank and ask for proof of that, transfer (sometimes some banks give TT receipt immediately if that is done then and there. But now most transactions are at back office but they retain both copies (normally TT will have two copies) and if that is provided you can check the time and date TT transfer was done . If so insist that your beneficiary's account get money. Since they have charged a fee you must get the service they (CBQ) promised!
I do not know CBSL is doing now. It is headed by a swollen headed person who does not know the worth of remittances . This will discourage remittances if this was due to their actions!
meeta passe hari undiyal karanna purudu weyan.
with in one hour or less.
with in one hour or less.
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Follow up with CBQ... You are their client. All SWIFT transactions are trackable but takes time. The onus is on the CBQ to provide you with the proof.
NOTE : In some cases SWIFT transactions take time because of AML procedures (Anti-Money Laundering). Sometime ago I transferred some funds to a travel agent in Vietnam. A day later the platform I used to transfer the funds queried back about the details of the Travel Agency, the passport copies of their manager and the Business Registration Certificate of the agency. Only then the funds were released to them. This is AML at work.
NOTE : In some cases SWIFT transactions take time because of AML procedures (Anti-Money Laundering). Sometime ago I transferred some funds to a travel agent in Vietnam. A day later the platform I used to transfer the funds queried back about the details of the Travel Agency, the passport copies of their manager and the Business Registration Certificate of the agency. Only then the funds were released to them. This is AML at work.
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Check the swift website machan they clearly mention there that how SWIFT system is working, I don't know whether you are a banker or not but I am an exporter my self and I am always doing various kind of international transfers with different countries so this is my experience so far, first of all Banks never get funds immediatley even it is a local rupee transfer, common practice is there are settlement systems for that purpose and some systems settle these transactions in real time (eg; CEFT) but actual fund transfers happen later, and in sri lanka it is LankaClear who provide these systems. so there is an USD OPS system in lankaclear that settle USD transfers within local banks and some times this process take time due to the various reason within banks (in this case it looks like sampath bank is causing the delay).
No comment about CBSL governer since I know personally he is doing everything he can to straight the monetory policy in this country that fucked up by previous governers, so we can get in to the IMF program ASAP. let's hope Fiscal policy makers make this right and expedite the process.
As someone mentioned earlier this may be due to the AML procedures, anyway don't worry just follow up with your originating bank and if transfer is failed at some point it will be revert back to originator. Don't call customer service because it is waste of time, as an example i called sampath CC yesterday to deactivate my debit card because I lost it which is linked to my current account, then that bitch told me it is done. but then she called back to me and told she mistakenly deactivated my virtual web card
how the fuck I could lost a virtual card?
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