Sending Money Abroad

NotBothered

My bank have just refused to send funds across to India 2,000 US Dollars for the following reasons:

There is no Indian Financial Systems Code
They want to know why the funds are being sent to New York when the ultimate beneficiary is Artemis Hospital in New Delhi India.

Does anybody have experience of this and can perhaps help? I have never sent money internationally before. I dont know how to attach a file but it says the following:

Bank Wire Transfer Instructions for US Dollar Transfer to Artemis Hospital, Guargaon, New Delhi, India

US Dollars: payments should be made
to: JP Morgan Chase Gank New York
Payment should be routed either via CHIPS ABA 0002 OR FED ABA 021000021

For credit to: 001-1-406717 Swift Code CHASU33, HDFC Bank Ltd, Bombay
for further credit to: (HDFC1NBB), HDFC Bank Ltd, GF-02, Tower-A, Global Business Park, M G Road, Guargaon - 122002, Haryana, India
Ultimate Beneficiary: Acct No. 120323200000023 Artemis Medicare Services Ltd

Important

1) Kindly make only express transfer or Wire transfer and not ordinary bank transfer so that the funds are received fast and the patient's treatment is not delayed
2) Please obtain a Bank Wire Transfer Routing Receipt from the bank and email to us at (email address) with patients name, so that we can check receipt of funds in hospitals bank account.

Thanks for any help

leon_panda

Try Worldremit or Transferwise?

agrinnall

Nationwide's SWIFT FAQ page includes a statement that payments to India can take up to 3 months. I would be very cautious making any such payment.

http://www.nationwide.co.uk/support/payments-and-transfers/specialist-payments/swift-payments#xtab:processing-times

NotBothered

Afraid I dont have a choice - it needs to be paid. Sigh - why is everything so complicated! : -(

eDicky

The instructions are a bit garbled. The actual transfer you are being asked to make is to the New York bank, and the ABA is a routing code. Also quote the SWIFT code of that bank, CHASU33, and the account number and name as given in 'For credit to:'

The rest, 'For further credit to:' etc, needs to be quoted as 'Further Instructions' and/or 'Reference' in the transfer details.

This is quite a common way for south Asian companies and entities to do their banking in dollars. You are not actually sending it to India so the Indian FSC is either not needed or it may be the (HDFC1NBB).

I would suggest that you ask for somebody at your bank who has experience of international transfers to prepare the transfer documentation, and if possible show it first to the hospital to make sure everything is correct before actually sending it.

NotBothered

Thank you so much - that is so helpful!

eDicky

NotBothered wrote: »

Thank you so much - that is so helpful!

Well hopefully it's enough to make some progress, let us know how it goes. US transfers usually require payee's address (Indian bank address?) and reason for transfer (medical expenses) etc...

NotBothered

Well it seems that I wasnt the only one having problems as they have now issued a new instruction which is a lot simpler!

Next question - I know it is simpler to just go to the bank and allow them to do all the work, however, this probably isnt the cheapest method. Does anybody have any recommendations for an "agency"

This is all completely alien to me.

Thanks in advance.

NB x

Stevie_Palimo

If it is urgent then use the in-store money sending services, It will cost you but will also be there in no time at all.

eDicky

NotBothered wrote: »

Next question - I know it is simpler to just go to the bank and allow them to do all the work, however, this probably isnt the cheapest method. Does anybody have any recommendations for an "agency"

It can be just as simple and fast, as well as cheaper, to use a transfer broker. But in your case there is the complication of the 'For further credit to' instructions etc. You need to call or email the brokers to explain the details involved and see if they can handle it, and how. At least they usually respond quickly, and are much more likely to understand what's involved and be able to give relevant advice than your average bank staff.

eDicky

NotBothered wrote: »

2) Please obtain a Bank Wire Transfer Routing Receipt from the bank and email to us at (email address) with patients name, so that we can check receipt of funds in hospitals bank account.

Don't neglect this requirement so that they can identify your payment, or ideally something more reliable (given the 'trail' involved), such as including a reference on the transfer identifying the actual patient.