Bank's & opening an account
#16
Re: Bank's & opening an account
As we discussed above, that is almost certainly an error and/or training issue for the bank.
That is incorrect, but for small US banks international transactions will probably be routed through a regional bank, and then through a large commercial bank such as Chase or Citi, and then to/from a major bank in the country sending/receiving the transaction. It is possible that there could be five or six banks in the chain.
Last edited by Pulaski; Jul 28th 2016 at 8:46 pm.
#17
Lost in BE Cyberspace
Joined: Jul 2016
Posts: 10,009
Re: Bank's & opening an account
FIFY
As we discussed above that is almost certainly an error and/or training issue for the bank.
That is incorrect, but for small US banks international transactions will probably be routed through a regional bank, and then through a large commercial bank such as Chase or Citi, and then to/from a major bank in the country sending/receiving the transaction. It is possible that there could be five or six banks in the chain.
As we discussed above that is almost certainly an error and/or training issue for the bank.
That is incorrect, but for small US banks international transactions will probably be routed through a regional bank, and then through a large commercial bank such as Chase or Citi, and then to/from a major bank in the country sending/receiving the transaction. It is possible that there could be five or six banks in the chain.
#18
BE Forum Addict
Joined: Feb 2008
Posts: 3,259
Re: Bank's & opening an account
In all fairness the vast majority of banks probably never (or almost never) come across non-USCs wanting to open an account.
#19
Re: Bank's & opening an account
It is not possible to operate a bank without at least one correspondent bank - it is how banks move money. ..... It would be like having a phone without a phone service provider, or having a mailbox on a private drive with no mail delivery service.
Last edited by Pulaski; Jul 28th 2016 at 8:56 pm.
#20
Lost in BE Cyberspace
Joined: Jul 2016
Posts: 10,009
Re: Bank's & opening an account
As stated it is not a legal requirement, or even one that Fifth Third insists on. You probably just got a "low information" teller or someone who hadn't been trained well and wasn't for escalating it to someone who knew what they were doing.
In all fairness the vast majority of banks probably never (or almost never) come across non-USCs wanting to open an account.
In all fairness the vast majority of banks probably never (or almost never) come across non-USCs wanting to open an account.