Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • beckysheffield
    • By beckysheffield 1st Dec 17, 12:11 PM
    • 15Posts
    • 1Thanks
    beckysheffield
    Sent Money to China but I used wrong payee details
    • #1
    • 1st Dec 17, 12:11 PM
    Sent Money to China but I used wrong payee details 1st Dec 17 at 12:11 PM
    Not sure if this is in the wrong place, can't find an appropriate sub. I sent money to a expat travel company based in China (Chinese bank and I paid in Euros).

    I put payee details as my details (I'm the payer). The Chinese banks won't release the funds to the Chinese company because the payee details are wrong. It sounds a bit weird because the company can see the transfer in their bank account.... just the money hasn't been released.

    I've spoken to my bank plenty of times but they can only request the funds back. And they don't know how much the chinese banks will charge.

    Any ideas of how I can get this sorted?
Page 1
    • eDicky
    • By eDicky 1st Dec 17, 12:21 PM
    • 2,972 Posts
    • 1,307 Thanks
    eDicky
    • #2
    • 1st Dec 17, 12:21 PM
    • #2
    • 1st Dec 17, 12:21 PM
    What did you enter for payee details?

    Why the plural, Chinese banks?
    • agrinnall
    • By agrinnall 1st Dec 17, 3:46 PM
    • 18,768 Posts
    • 14,479 Thanks
    agrinnall
    • #3
    • 1st Dec 17, 3:46 PM
    • #3
    • 1st Dec 17, 3:46 PM
    Any ideas of how I can get this sorted?
    Originally posted by beckysheffield
    Yes, do what your bank suggests. It may cost you, but as it was your error that's not unreasonable.
    • dj1471
    • By dj1471 1st Dec 17, 9:22 PM
    • 965 Posts
    • 643 Thanks
    dj1471
    • #4
    • 1st Dec 17, 9:22 PM
    • #4
    • 1st Dec 17, 9:22 PM
    When you send the money again with the correct details use an online currency broker rather than your bank, it'll be a lot cheaper:
    https://www.moneysavingexpert.com/banking/foreign-currency-exchange#small

    I'm not sure how many companies will allow you to send Euros to China (odd thing to do...) but I know Azimo will.
    • jonesMUFCforever
    • By jonesMUFCforever 1st Dec 17, 11:09 PM
    • 24,256 Posts
    • 11,537 Thanks
    jonesMUFCforever
    • #5
    • 1st Dec 17, 11:09 PM
    • #5
    • 1st Dec 17, 11:09 PM
    How much are we talking about?
    It might be worthless to get the money back after charges and cheaper to send the money again?
    What goes around - comes around
    give lots and you will always receive lots
    • beckysheffield
    • By beckysheffield 2nd Dec 17, 5:35 AM
    • 15 Posts
    • 1 Thanks
    beckysheffield
    • #6
    • 2nd Dec 17, 5:35 AM
    • #6
    • 2nd Dec 17, 5:35 AM
    When you send the money again with the correct details use an online currency broker rather than your bank, it'll be a lot cheaper:

    I'm not sure how many companies will allow you to send Euros to China (odd thing to do...) but I know Azimo will.
    Originally posted by dj1471
    UK banks can also have other currencies attached to them. Just have to ask.

    Thanks for the currency broker.... is it really cheaper? I need to spend about £4000/€4500. My bank charged £4 total and I'm sure the exchange rate wasn't that good.
    • beckysheffield
    • By beckysheffield 2nd Dec 17, 5:40 AM
    • 15 Posts
    • 1 Thanks
    beckysheffield
    • #7
    • 2nd Dec 17, 5:40 AM
    • #7
    • 2nd Dec 17, 5:40 AM
    What did you enter for payee details?

    Why the plural, Chinese banks?
    Originally posted by eDicky
    Typo, I'm only dealing with one bank.
    • beckysheffield
    • By beckysheffield 2nd Dec 17, 5:42 AM
    • 15 Posts
    • 1 Thanks
    beckysheffield
    • #8
    • 2nd Dec 17, 5:42 AM
    • #8
    • 2nd Dec 17, 5:42 AM
    How much are we talking about?
    It might be worthless to get the money back after charges and cheaper to send the money again?
    Originally posted by jonesMUFCforever
    The money is currently being held by the bank in China and they won't release to the China based company. I'm not asking about what is cheaper, I'm asking if I have other options than requesting the money back.....
    • le loup
    • By le loup 2nd Dec 17, 9:30 AM
    • 3,664 Posts
    • 3,594 Thanks
    le loup
    • #9
    • 2nd Dec 17, 9:30 AM
    • #9
    • 2nd Dec 17, 9:30 AM
    I'm not asking about what is cheaper, I'm asking if I have other options than requesting the money back.....
    Originally posted by beckysheffield
    People were trying to help. reread what you just typed and see how ungracious it was.
    • jonesMUFCforever
    • By jonesMUFCforever 3rd Dec 17, 12:22 AM
    • 24,256 Posts
    • 11,537 Thanks
    jonesMUFCforever
    The money is currently being held by the bank in China and they won't release to the China based company. I'm not asking about what is cheaper, I'm asking if I have other options than requesting the money back.....
    Originally posted by beckysheffield
    You could ask your bank to send/try a telex or today's equivalent to amend the payee but they will charge you for this (I think £20 or above).
    What goes around - comes around
    give lots and you will always receive lots
    • beckysheffield
    • By beckysheffield 3rd Dec 17, 3:23 AM
    • 15 Posts
    • 1 Thanks
    beckysheffield
    People were trying to help. reread what you just typed and see how ungracious it was.
    Originally posted by le loup
    Nothing ungracious. You are just trying to pick a fight.
    • beckysheffield
    • By beckysheffield 3rd Dec 17, 3:23 AM
    • 15 Posts
    • 1 Thanks
    beckysheffield
    You could ask your bank to send/try a telex or today's equivalent to amend the payee but they will charge you for this (I think £20 or above).
    Originally posted by jonesMUFCforever
    They said they can only change one number/digit not the whole payee info.....
    • jonesMUFCforever
    • By jonesMUFCforever 3rd Dec 17, 1:43 PM
    • 24,256 Posts
    • 11,537 Thanks
    jonesMUFCforever


    They said they can only change one number/digit not the whole payee info.....
    Originally posted by beckysheffield
    Which bank is this?

    Sounds to me that you are not talking to the right people at the bank.

    But if what they have told you is true (open an account with a better bank?) then your only option is to ask for the money back BUT you are going to lose a large chunk of it to charges and currency losses and as we don't know the amount you sent only you will know if it worth it.
    What goes around - comes around
    give lots and you will always receive lots
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

210Posts Today

1,691Users online

Martin's Twitter
  • RT @bearface83: @MartinSLewis check out the @Missguided new 60% off offer. Upping the cost of items almost double to make us think it?s a?

  • RT @efitzpat: Thank you SO SO much @MartinSLewis for your Student Loans refund advice! I just got a grand refunded right before Xmas! Whoop?

  • Have a lovely weekend folks. Don't do anything (fiscally) that I wouldn't do!

  • Follow Martin