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AIB International Money Transfer - receivers address wrong but other details correct

  • 08-02-2023 11:09am
    #1
    Tinpotspider100
    Registered Users, Registered Users 2 Posts: 1 ✭


    Hi there,

    I am a new customer to AIB and I recently did an international money transfer to a bank in the US for payment to a person. (Quite a large amount). I did the transfer after 5pm last Friday - the transaction showed complete on Monday which was a bank holiday and the money was gone from the account. I know it can take up to 4 business days to arrive in the recipients account. However I put the Receivers address wrong in the online form - but the Swift Code (BIC Code), Account Number and Receivers Bank Code and the persons name are accurate, which is what AIB call it (I presume this means Routing Code for US banks) are correct. Should I be worried that the money will just disappear or should it arrive? Also can AIB claw back money if it somehow "disappears" somewhere? Little bit worried



Answers

  • #2
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,606 Mod ✭✭✭✭Jim2007


    The transaction was executed as instructed by you and once the transaction as been executed, AIB is not possible for them to recall it.

    What happens next will depend on the receiving bank, some US banks will simply go with the account number, where as others use address validation in their MLA checks. If the money does not arrive in the recipients account will have done one of two things - returned it to AIB or hold it in a suspense account for further investigation.

    There is nothing AIB can do unless the money is returned so it is best to have the recipient contact their bank and explain the problem. That way their bank may be on the look out for the transaction.



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