Transferring money
#16
Account Closed
Joined: Feb 2011
Posts: 0
Re: Transferring money
Most people dont like using it as they dont trust that system.
I use it all the time to be honest.
But my transactions are quite frequent (once a week) and I know all the guys involved and where they live and all so
by the way a bank to bank transfer if it is company to company and not a huge sum then its 3-5 working days always as usually banks on both sides have to go through an intermediary bank
and if it is an individual to individual account then a small transaction really doesnt raise any flags but a large amount like even 5000$ and 'they' tend to slow the whole process down. They might not call you asking why you want to send this money, but they just like to take their sweet time authorizing those transactions. Who are they and where do they sit? I dont know.
Why do they do it and why not all the time? I dont know.
But I do know that I have been called a couple of times by 'them' asking why was I sending the money and do I like to fly planes? Maybe it was my name that raised a flag...'Clint Eastwood'
I use it all the time to be honest.
But my transactions are quite frequent (once a week) and I know all the guys involved and where they live and all so
by the way a bank to bank transfer if it is company to company and not a huge sum then its 3-5 working days always as usually banks on both sides have to go through an intermediary bank
and if it is an individual to individual account then a small transaction really doesnt raise any flags but a large amount like even 5000$ and 'they' tend to slow the whole process down. They might not call you asking why you want to send this money, but they just like to take their sweet time authorizing those transactions. Who are they and where do they sit? I dont know.
Why do they do it and why not all the time? I dont know.
But I do know that I have been called a couple of times by 'them' asking why was I sending the money and do I like to fly planes? Maybe it was my name that raised a flag...'Clint Eastwood'
#17
BE Forum Addict
Joined: Jan 2011
Location: Dubai
Posts: 3,467
Re: Transferring money
I have some transfers take a day or two and I have had others take 2 weeks.... lap of the gods!
#18
Re: Transferring money
Time frame depends on several factors including:
As ever, one person's experience is not the benchmark.
- Day of the week and time actioned
- Currencies
- Whether it is within the same banking group
- If a correspondent bank is involved in the transaction
- How money is transferred. For example a CHAPS transfer is slower than a TT
- public holidays (UK bank holiday tomorrow)
As ever, one person's experience is not the benchmark.
#19
Re: Transferring money
I use a company that the lovely Meow put me onto.. No hassles, better rates than the banks..
#20
Forum Regular
Joined: Aug 2010
Posts: 90
Re: Transferring money
I take cash out of the bank and then go to Al Ansari exchange and send it from there. Better rates than the bank and usually takes 24/48 hours to arrive in my account.