Wrong swift code: Both Skrill and my local bank told me that they are unable to help

Ballard

jonesMUFCforever wrote: »

CHAPS use sort codes and account numbers in UK - international payments use Swift

Perhaps there are different options but I've sent thousands of CHAPS payment via SWIFT using sort code and BIC.

agrinnall

jonesMUFCforever wrote: »

CHAPS use sort codes and account numbers in UK - international payments use Swift

Ballard wrote: »

Perhaps there are different options but I've sent thousands of CHAPS payment via SWIFT using sort code and BIC.

I thought the same as jones initially but it appears that you can indeed use both options with CHAPS, there seems to be a greater degree of integration between CHAPS and SWIFT than I recall from my time involved with payment systems (10 years ago now).

http://www.chapsco.co.uk/about-chaps/how-chaps-works

And

http://www.experian.co.uk/blogs/latest-thinking/what-bic-used-for/

"Scheme-specific BIC: a bank can have many BICs; some register a BIC for every branch. BICs can also be registered for specific payment systems, such as CHAPS, TARGET2 or FedWire. In this case the BIC specifies a destination within a bank that those transactions should be sent to. For example, in the UK not every branch can accept CHAPS payment and in some cases CHAPS payments may be handled by a different, “sponsor” bank."

Ballard

We're well off topic here but when using Swift to send Chaps messages field 57 (account with bank) can be either 57A (where a BIC is used) or 57D (where a free format name/address for the bank is used). For STP reasons, 57A is preferred.

If you're sending money to HSBC, Maidenhead (for example) it is fine to use the standard MIDLGB22 BIC rather than look up the exact BIC for that branch. You can also use the free format option.

If the sort code and BIC don't match (e.g. SC 20-00-01 (Barclays) with MIDLGB22) then the payment will be rejected.

I think that most (quite possibly all) UK bank branches have their own BIC but that does not necessarily mean that they are connected to the Swift network.

I've only ever had the ability to use this method for CHAPS payments and would be interested to hear of other ways of doing it. I suspect (although this is a guess) that anyone setting up a CHAPS payment online through their bank will have the BIC automatically added by their bank when the payment is sent. I am happy to be corrected on this though.

unforeseen

Surely the problem here is no different to paying money to the wrong account as comes up on here fairly regularly? The only difference being that it involves sending money to a foreign account.

The blame lies totally with the OP, Skrill have done nothing wrong as they have transferred the money to the destination stated by the OP.

If Skrill do ask the recipient bank then it is still up to the erroneous recipient to agree to return. How you handle the situation if they refuse is a anybody's guess

Ballard

The chances are that the account number quoted didn't exist at Citibank and is either sitting in a suspense account or has already been returned to Skrill. Whichever, it's up to Skrill to investigate.

If it has been credited to a third party then Malaysian law will determine what happens next.

Leah_S

No unforeseen, there'll be no "If Skrill do ask the recipient bank then it is still up to the erroneous recipient to agree to return. How you handle the situation if they refuse is a anybody's guess" cuz I've looked it up, cimb acc no. and citibank's should be different so the money is not in someone else's account.
Thank you ballard for the accurate explanation. And skrill is not to be blame correct but human error does occur and their customer support is just wow............

And for the earlier replies, I am well aware that this is a Uk forum that's why I brought my case here hoping someone would be more familiar with skrill.
'Op are you in uk at all'etc rofl it's not necessary that I have to take a flight to UK, carry a bunch of cash then come back to my country...Internet is worldwide and so is online banking.
Plus, like snowtiger mentioned..my main concern is not cimb but skrill..they are the sender arent they suppose to at least know where the money went? But every time i contacted them they just told me they couldn't locate the money and I should deal with my bank..for god's sake I dont even know my money is now with cimb or citibank or already back to skrill:money:

Still, I sincerely thank ya'll for contributing and investing time in this thread. Bless you.

jonesMUFCforever

Leah_S wrote: »

No unforeseen, there'll be no "If Skrill do ask the recipient bank then it is still up to the erroneous recipient to agree to return. How you handle the situation if they refuse is a anybody's guess" cuz I've looked it up, cimb acc no. and citibank's should be different so the money is not in someone else's account.
Thank you ballard for the accurate explanation. And skrill is not to be blame correct but human error does occur and their customer support is just wow............

And for the earlier replies, I am well aware that this is a Uk forum that's why I brought my case here hoping someone would be more familiar with skrill.
'Op are you in uk at all'etc rofl it's not necessary that I have to take a flight to UK, carry a bunch of cash then come back to my country...Internet is worldwide and so is online banking.
Plus, like snowtiger mentioned..my main concern is not cimb but skrill..they are the sender arent they suppose to at least know where the money went? But every time i contacted them they just told me they couldn't locate the money and I should deal with my bank..for god's sake I dont even know my money is now with cimb or citibank or already back to skrill:money:

Still, I sincerely thank ya'll for contributing and investing time in this thread. Bless you.

''Internet is worldwide - so is online banking'' - so is money laundering and funding of terrorism.
Good luck with getting your money back.