SWIFT transfer

kurzam

I was sending money to Russia

kurzam

The intermediary is indeed HSBC and my BS is Nationwide.
Intermediary did ask some compliance information as the money was going to Russia. These I answered but as the money was not forwarded to destination bank, I asked NW to recall the money which they did on 2nd of September, but still HSBC have not returned the money. The SWIFt transfer manager at NW confirmed to me the money is with HSBC.
As NW have 56 days to resolve the complain. Is it worth waiting that long or should I start legal action naming NW and HSBC as respondents or sinply go through their procedure then complain to FOS

kurzam

receiving currency was US Dollarss but money going to Russia

grumbler

kurzam wrote: »

As NW have 56 days to resolve the complain. Is it worth waiting that long or should I start legal action naming NW and HSBC as respondents or sinply go through their procedure then complain to FOS

For legal actions you don't need to wait, especially just for sending a Letter Before Action. And your actions are against NW only. They owe you the money, not HSBC.

For complaining to the FOS you have to wait for 56 days unless you get a deadlock letter from NW earlier (unlikely).

Ballard

kurzam wrote: »

receiving currency was US Dollarss but money going to Russia

This adds another level of complication and another country's compliance officers to please. I can't add to what Grumbler has said.

Good luck.