Anybody ever troubleshoot a SWIFT payment?

Q

qwerty5

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I did a SWIFT transfer from my PTSB account to a US account last week (on 27th). It's disappeared. Has anybody any experience of this?
I contacted the receiving bank who have no record of it. I contacted PTSB who said they'd look into it and get back to me. Still waiting on that.

Kinda worried as it was a fair few quid. All of the details given for the transfer were correct. I've done transfers before to the same account and they went fine.
I would have thought if there was an issue that it just would have reverted. If anybody has had an similar issue what kind of timeframe did it take to resolve and is there anything I can do to speed it up.
 
I know it sounds silly but the funds did leave the account?? No excuse for PTSB to take this long to come back to you. You will need to hound them. Even if they need to send a trace on the funds to the receiving bank, they should be giving you an update.
 
the banks can contact each other via the swift network. in a previous life we used to send 10s of millions of USD around every day (commodity trading business) and every now and again funds would get caught somewhere. Trying to get information out of the banks tooks days, sometimes weeks and we were a big customer.
 
Do you know if onward transaction was WIRE or ACH? Wires are convoluted and trickier to trace but it can be done though it takes time. As above, get PTSB on the case asap.
 
Sunny said:
I know it sounds silly but the funds did leave the account?? No excuse for PTSB to take this long to come back to you. You will need to hound them. Even if they need to send a trace on the funds to the receiving bank, they should be giving you an update.
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Ha. Funds leave the account (or appear to) about 5 nano seconds after you hit the submit button. PTSB haven't been slow (so far). I only queried them yesterday morning. They guy said he'd get back to me yesterday afternoon, I thought he was being optimistic so I haven't chased him yet. I left it 6 working days after the money left to report it. Everywhere I googled said a SWIFT can take 3 - 5 working days. In my experience it's always been quicker, but no point reporting it before the 5th day had gone as I know what the standard answer would be from a support agent.
 
qwerty5 said:
Ha. Funds leave the account (or appear to) about 5 nano seconds after you hit the submit button. PTSB haven't been slow (so far). I only queried them yesterday morning. They guy said he'd get back to me yesterday afternoon, I thought he was being optimistic so I haven't chased him yet. I left it 6 working days after the money left to report it. Everywhere I googled said a SWIFT can take 3 - 5 working days. In my experience it's always been quicker, but no point reporting it before the 5th day had gone as I know what the standard answer would be from a support agent.
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I don't think that you will be able to troubleshoot. It has to be PTSB that does the work. They should be able to check everything on their side and ensure all is as it should be. After it leaves their environment they should work with SWIFT to troubleshoot further.
 
PGF2016 said:
I don't think that you will be able to troubleshoot. It has to be PTSB that does the work. They should be able to check everything on their side and ensure all is as it should be. After it leaves their environment they should work with SWIFT to troubleshoot further.
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I worded it wrong. I know I can't troubleshoot. The only options I have are contact the destination bank and contact PTSB. As the destination bank say they haven't received it all I can do is involve PTSB but if they take 1 day, 5 days or 10 days when do I start to get worried? And does it ever fail totally.
I had assumed that if the funds didn't get to the destination they'd bounce back. Doesn't seem like that should take a long time.
 
qwerty5 said:
I worded it wrong. I know I can't troubleshoot. The only options I have are contact the destination bank and contact PTSB. As the destination bank say they haven't received it all I can do is involve PTSB but if they take 1 day, 5 days or 10 days when do I start to get worried? And does it ever fail totally.
I had assumed that if the funds didn't get to the destination they'd bounce back. Doesn't seem like that should take a long time.
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they will bounce back but it genuinely could take weeks
 
qwerty5 said:
Ha. Funds leave the account (or appear to) about 5 nano seconds after you hit the submit button. PTSB haven't been slow (so far). I only queried them yesterday morning. They guy said he'd get back to me yesterday afternoon, I thought he was being optimistic so I haven't chased him yet. I left it 6 working days after the money left to report it. Everywhere I googled said a SWIFT can take 3 - 5 working days. In my experience it's always been quicker, but no point reporting it before the 5th day had gone as I know what the standard answer would be from a support agent.
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It shouldn't take long. The only issue might be on PTSBs USD Correspondent side I.e. where PTSB hold their USD account. But again, they should be able to at least give you an update. As Blackrock1 says, bounced funds should be returned quickly but can take ages as they go through different banks. I think you have been patient enough after 6 days.....you need to escalate it with PTSB.
 
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