Wire Transfer to Molly at Quest

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Nunas
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#1: Post by Nunas »

Has anyone had issues or delays sending a wire transfer to Quest? We ordered a new M6 and had our bank transfer the funds on 18 February. As I write, it's 2 March, and Molly says her bank still has not received the funds. This was our first wire transfer to anywhere, let alone Taiwan, and we understand that it should have only taken 3-5 days. It's been almost two weeks.

Marcelnl
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#2: Post by Marcelnl »

I'd use paypal if possible for reasons of speed, but did you check with your own bank? They should be able to tell you how long it takes and what you can do to check, I mean 3-5 days ...do they send the bills by pigeon?

Just checked, I paid Mr Li (Taiwan) via Paypal, so I cannot see how long it took my bank...
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Nunas (original poster)
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#3: Post by Nunas (original poster) »

Thanks, Marcel. I did not know that Molly accepted PayPal, as she asked for a W/T. Drat! I've got Paypal and could have used that.

Anyone out there with W/T experience?

Ken5
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#4: Post by Ken5 »

I have wired funds to Germany and Switzerland and even though the teller stated it should take days, the fine print stated it could take 2 weeks. Which it did. Lol.

Anyways... call your bank. Mine looked it up when things took longer for me.

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Spitz.me
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#5: Post by Spitz.me »

I've worked as a Teller and I know enough about wire transfers to always tell people to find a better way. They're archaic to say the least. It takes 2 institutions a bunch of "paper work" wrapping the whole transaction in bureaucratic red tape that goes wrong way too frequently for how little people use the service. Considering how we can move funds nowadays, the fact that wire transfers are still this ridiculous is absurd.

I'd use ANY OTHER means to pay for something.
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Marcelnl
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#6: Post by Marcelnl »

Nunas wrote:Thanks, Marcel. I did not know that Molly accepted PayPal, as she asked for a W/T. Drat! I've got Paypal and could have used that.

Anyone out there with W/T experience?
I don't know she does, I tried to explain I used paypal for paying Mr Li, who makes the Huky.
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CarefreeBuzzBuzz
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#7: Post by CarefreeBuzzBuzz »

I agree with ask you bank. Seems very long time compared to what a big US bank would tell you. They should tell you immediately.

How did you provide the instructions for the transfer?
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Spitz.me
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#8: Post by Spitz.me »

The thing with Wire Transfers is that nothing is immediate, not even knowing the status is immediate for many tellers because they don't really know how to check - Canadian experience anyway. Regardless, yes, the bank should know something whether it's immediate or not, and quite frankly I'd cancel it if they let you. Maybe just call to cancel the transfer and see where that takes you?
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Nunas (original poster)
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#9: Post by Nunas (original poster) »

CarefreeBuzzBuzz wrote:I agree with ask you bank. Seems very long time compared to what a big US bank would tell you. They should tell you immediately. How did you provide the instructions for the transfer?
Thanks for the comments. They're all good points, but things we've done. We went to the bank and at first, got a shrug, "it takes time." When we persisted, they reluctantly agreed to trace. Nothing heard yet. The transfer's instructions were directly off Molly's invoice, which we double-checked against the W/T order at the bank, and triple-checked when the funds didn't arrive. I'm not all that worried, for now, just more surprised than anything that an electronic transfer of funds in this day and age could take so long...

Nunas (original poster)
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#10: Post by Nunas (original poster) »

Spitz.me wrote:The thing with Wire Transfers is that nothing is immediate, not even knowing the status is immediate for many tellers because they don't really know how to check - Canadian experience anyway. Regardless, yes, the bank should know something whether it's immediate or not, and quite frankly I'd cancel it if they let you. Maybe just call to cancel the transfer and see where that takes you?
You're right; the teller had no idea and tried to tell us that nearly two weeks was normal. The asst manager agreed to the trace. But we won't hear for a few days. There's a bunch of fine print on the bottom of the W/T receipt that basically says they are not responsible for anything and that one cannot cancel the order. The only good news in the fine print is that they will rebate the funds, less any expenses, if the transfer does not go through as stipulated in the contract. Fingers crossed :roll: It seems our banks are slower than those in the US of A :(

Edit: I just read an online article that said the banks are increasingly causing these delays, citing the need to prevent fraud. But, the article goes on to state that there is consumer concern that what is really happening is the banks are using the $$$ during the interim and taking advantage. For one customer, it seems unlikely, but if one adds up the amount of money moving around the world like this it seems plausible.

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