SWIFT International Money Transfer Warning

ThatManViv

New member
Jul 28, 2010
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In case anyone is tempted to use this service here's my story. And it might be particularly of interest to anyone in the UK.

On July 29th I sent £1250 to an account overseas using a "Nationwide" B.S. (Banking Service ???). They told me it was a 48 hour service, but, three weeks later the money has not arrived in the account.

Quite frankly there are so many errors in the transfer form that a ten year old could have completed it better.

But, (and here is the warning part) in the small print it says that I, and I alone, am responsible for the transaction. They will accept no responsibility at all. And they do not refund the service fee no matter what happens.

They will not provide any documentary evidence to support their claims that the money transferred correctly. They deceived me by advising me that on two occasions I was speaking to a person within the SWiFT system when I was really speaking to some pion in a "Nationwide" office.

It just seems incredible that with all the Financial Services rules and regulations we have today that this behaviour is occurring.

So, if you need to send money abroad and PayPal is not available, I strongly suggest you do your best to avoid the SWIFT money transfer service.

viv
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Reactions: ly2 from WF


.
.
In case anyone is tempted to use this service here's my story. And it might be particularly of interest to anyone in the UK.

On July 29th I sent £1250 to an account overseas using a "Nationwide" B.S. (Banking Service ???). They told me it was a 48 hour service, but, three weeks later the money has not arrived in the account.

Quite frankly there are so many errors in the transfer form that a ten year old could have completed it better.

But, (and here is the warning part) in the small print it says that I, and I alone, am responsible for the transaction. They will accept no responsibility at all. And they do not refund the service fee no matter what happens.

They will not provide any documentary evidence to support their claims that the money transferred correctly. They deceived me by advising me that on two occasions I was speaking to a person within the SWiFT system when I was really speaking to some pion in a "Nationwide" office.

It just seems incredible that with all the Financial Services rules and regulations we have today that this behaviour is occurring.

So, if you need to send money abroad and PayPal is not available, I strongly suggest you do your best to avoid the SWIFT money transfer service.

viv
.
.

lolwut

I've been sending and receiving money using IBAN and SWIFT more than once per week for the last year or so with no problems. And much more than £1250 too.
 
I SWIFTed hundreds of payments over the last 10 years with no issues.

But, I've had my credit card hijacked once or twice. Don't use credit cards!
 
Oh SHit.. Bank Of America charged a Monthly fee to my old Account because I forgot to close it since I opened a new account in a new city.

Don't use Bank of America. Use Paypal.
 
^^Paypal once charged me 50 cents extra for an account transfer I did -- don't be so quick to trust this company!!!