Mar 28 2019, 09:45 PM
QUOTE(David83 @ Mar 28 2019, 08:56 PM)
Hi guys,
I need some enlightenment especially from those who are working in the banking sector.
I initiated a wire transfer a XXX amount in USD from a trading platform in US to my USD account in US bank having branch in Malaysia. The final amount I received is USD 10 lesser.
I inquired two sides and both sides said that there's no fee incurred; meaning withdrawal from the trust account in the trading platform is FOC and the US bank in Malaysia doesn't charge any fee for inward TT.
Since the transfer is involved an intermediary bank, from the e-advice generated, I could see that the intermediary bank is actually the same US bank but it's based in Europe used by the trading platform.
The US bank in Malaysia said that they are not able to see if the fee is imposed by the intermediary bank. But the intermediary bank is under the same parent bank but different branches operating at different country.
Curiosity kills the cat. I'm super curious where's the USD 10 gone to if both parties denied that there's no fee incurred. Is that what the US bank in Malaysia claimed has any valid point?
Thank you.
Hope to hear some inputs from expert in here!
For the US bank in MY, is it Citibank? I need some enlightenment especially from those who are working in the banking sector.
I initiated a wire transfer a XXX amount in USD from a trading platform in US to my USD account in US bank having branch in Malaysia. The final amount I received is USD 10 lesser.
I inquired two sides and both sides said that there's no fee incurred; meaning withdrawal from the trust account in the trading platform is FOC and the US bank in Malaysia doesn't charge any fee for inward TT.
Since the transfer is involved an intermediary bank, from the e-advice generated, I could see that the intermediary bank is actually the same US bank but it's based in Europe used by the trading platform.
The US bank in Malaysia said that they are not able to see if the fee is imposed by the intermediary bank. But the intermediary bank is under the same parent bank but different branches operating at different country.
Curiosity kills the cat. I'm super curious where's the USD 10 gone to if both parties denied that there's no fee incurred. Is that what the US bank in Malaysia claimed has any valid point?
Thank you.
Hope to hear some inputs from expert in here!
Most likely the $10 is charged by the intermediary bank, even though it is also a branch of the same bank.
A charge of $10 is rather small. I was once charged around $35 because two intermediary banks were involved in the transfer.
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