International Transfer Gone Wrong - Advice required

H

hattrick_12a

Registered User
Messages
104
Hi there folks,

I am an expat working and living in New Zealand. I recently tried an International Transfer to my irish account and had the below experience, which I have posted on some NZ forums. But it might be of interest here and there might be some advice I can get from here also, as I think this is a very food site.

 
I'm not sure I understand what you tried to do or what advice if any the NZ bank gave you, but as far as I can establish, New Zealand does not participate in the International Bank Account Numbering (IBAN) and remittance system (nor do Australia, Japan, USA, etc). Consequently I don't know how you initiated an international transfer or what the New Zealand bank thought would happen upon receipt of whatever the transaction was in Ireland.

I believe you will have to do something safe and mundane like buy a Euro bank-draft (cashier's cheque) using NZ$ in NZ and post it to your bank in Ireland with a deposit slip / covering letter.

If I want to pay my ESB bill from an Irish bank account, I transfer money to Account number 81900087, Sort code 93-20-86, filling in those details and an amount of money on a paper deposit slip (or internet transfer from my computer).

If however, I want to pay my ESB bill from one of my many Lichtenstein bank accounts, I must specify the details as follows "IE36 AIBK 9320 8681 9000 87", this being the IBAN version of the original transaction details, including, country, abbreviated bank name, check digits, Sort code and Account number - this will work as I've done it many times .

To the best of my knowledge you do not have a corresponding facility from NZ as they don't participate in the IBAN scheme.

You can calculate your own Irish account IBAN number using this - http://www.ibancalculator.com/ (just one of many), but I don't believe that will work from a NZ bank.
 
that sounds very unfortunate but for comeback, banks can be useless. Problem is you deal with 2 banks who can fob off blame on one another.

might be worth trying transfermate.com, or someone who can commit to giving you what is agreed. In my opinion if the bank said theyd give you x, transferred and didnt have all of the details to complete the transaction, then they are liable for the difference. Waste enough of the managers time and he'll compensate
 
on a day to day basis i deal with foriegn currency payments and as i understand it

if you send a payment and it has insufficient details i.e iban number it should not apply to an account and therefore exchange it, and defiantly not exchange it and then exchange it back to sent to receiver.

the only course of action would be to go to the destination bank and ask them why the nzd was exchanged into EUR if it was not applied to an account. And that the normal course of action would be to 1) hold nzd until the account was specified or 2) send the funds back from where they were sent.

good luck

alex
 
 
Mpsox said:
... Should you really be posting your bank account details on an open internet forum?
Click to expand...
That's the ESB's bank account for receiving electronic transfers for domestic bills - the entire country has it!
 
I don't know about getting your money back but you should think about using a broker to send your money as you would have saved the transfer cost and the receiving cost.

Some ones that I have used are xe.com and cornhillfx.com which have both been really good to send money through, but there are loads of others out there to choose from if you want to look further.
 
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