how long do intl bank wires take???

[ZoeyZoo]

I partly depends on who you bank with. Each bank has relationships with other banks. So when you send an international transfer it may be going through at least 3-4 banks. I have seen transfers that went through more and got stuck somewhere in the chain. After a week, I would have your bank start to trace it if it's not in your account by then because I have also seen banks lose the transfer somewhere in the process..

 

[Bank enemy]

Im supposed to be recieving an intl bank wire from Korea, it was apparently sent yesterday but it has not hit my bank yet. Does anyone know how long they typically take? I bank with Bank of America and they said it normally shows up right away, but to give it a day because it depends on how fast the other bank processes the wire.

anyone have any idea?

Your bank can take as long as it wants before it releases your money into your account from an international wire transfer. The reason why is that it's seeking to make mony off of the currency conversion. Let's say that a British company has wired you US$150, and has sent it in the form of 100 pounds. Your bank will wait until he pound weakens against the dollar to the point in which 95 pounds equals US$150. Your bank will then keep the extra 5 pounds, AND charge you a currency conversion fee.

JPMorgan Chase is probably the biggest culprit in this practice, as customers have reported that it has taken 30 business days for JPMorgan to release hir funds into heir accounts.

Of ourselves, this practice should be illegal, but Wall Street owns Congress, so it never will be. Ever.

 

[vernis-lover]

Your bank can take as long as it wants before it releases your money into your account from an international wire transfer. The reason why is that it's seeking to make mony off of the currency conversion. Let's say that a British company has wired you US$150, and has sent it in the form of 100 pounds. Your bank will wait until he pound weakens against the dollar to the point in which 95 pounds equals US$150. Your bank will then keep the extra 5 pounds, AND charge you a currency conversion fee.

JPMorgan Chase is probably the biggest culprit in this practice, as customers have reported that it has taken 30 business days for JPMorgan to release hir funds into heir accounts.

Of ourselves, this practice should be illegal, but Wall Street owns Congress, so it never will be. Ever.

This thread is 5 years old; I'm sure it has been sorted by now.

 

[sandicat3]

Your bank can take as long as it wants before it releases your money into your account from an international wire transfer. The reason why is that it's seeking to make mony off of the currency conversion. Let's say that a British company has wired you US$150, and has sent it in the form of 100 pounds. Your bank will wait until he pound weakens against the dollar to the point in which 95 pounds equals US$150. Your bank will then keep the extra 5 pounds, AND charge you a currency conversion fee.

JPMorgan Chase is probably the biggest culprit in this practice, as customers have reported that it has taken 30 business days for JPMorgan to release hir funds into heir accounts.

Of ourselves, this practice should be illegal, but Wall Street owns Congress, so it never will be. Ever.