SWIFT/BICS transfer question

au8830

I have a question.

On the 13th October, I transferred $13,000 to a US bank account, to help a family member with house payments. I'm with HSBC, and did it via the "Send Money Overseas" form.

Everything appeared to go well, and if I look in my history (for international transfers), I can see the transaction listed with the status is "Processed". However, no money has left my current account.

So this morning, I sent a small payment of $10. This has already been debited from my account, and also shows "Processed".

Does anybody have any idea what's going on?

I know it can take 1-6 days to complete, but surely it should be debited from my account quicker than this?

Westie983

It may get sent from head office and they will process the transaction?

The instruction on the form maybe sent to the international payments team in the relevant department for them to process on your behalf, this may explain why it hasn't been taken from your bank account yet,

I know in other banks its not sent straight away unless its been sent via CHAPS.

Have you sent this value of money before with HSBC? it maybe being held as part of a security check! or maybe there is an issue with the details on the form, as it been two days since you initiated the payment, I would contact HSBC to ask them if there is a issue.

jonesMUFCforever

If the payment has not been debited to your account then it has not been processed (yet) whatever their system tell you.

Westie983

I think what the OP may mean is that its been 'processed' as in it cant be recalled from his side, it may have been processed but it not yet completed, especially if it has to be routed via other bank account systems first.

Futuristic

It may be held for manual review, you should call to find out its status.

What was the hsbc fee for this out of curiosity? You're better of using something like Transferwise for large payments and usually quicker.

au8830

Thanks for the replies.

There were no fees from HSBC's end. Not sure if the recipient bank will charge anything.

I'll give them a call tomorrow to see what's going on. I tried earlier today from work, but long story short, I got my telephone banking access blocked due to forgetting the PIN, and then didn't have my card on me to verify who I was.

agrinnall

Westie983 wrote: »

I know in other banks its not sent straight away unless its been sent via CHAPS.

You really don't know anything about payments do you? CHAPS is for UK to UK bank payments and has no relevance at all to the OP's issue. As I said elsewhere, if you don't know, don't post.

Sausafe

How do I post a new question to this forum?

au8830

I spoke to HSBC, and they said not to worry, it's normal for the amount to not have left my account yet. Quite why it says "processed", they couldn't tell me - presumably it means that they've sent the transaction request (or however it's done) to SWIFT (or whoever manages the interface between the various banks).