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Thread poster: Judy Almodovar

Judy Almodovar
Italy
Local time: 21:38
English to Tagalog
+ ...
Aug 28, 2007

For the previous month I had completed a large volume of translation project so I decide to received the payment thru my bank acct. instead of my paypal acct. I have 2 different bank acct. of 2 different country (that why I was confuse before), my problem is I had given a wrong BIN # instead I type the same IBAN # twice as per BIC, the translation company has an automated invoicing process. Can the company see/check if the payment they had set for my acct. was back and unable to send to my bank acct.?

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megane_wang  Identity Verified
Spain
Local time: 21:38
English to Spanish
+ ...
Yes, but not immediately Aug 28, 2007

If they tried to do a transfer using a BIC which containted a real IBAN the transfer could not be completely done in an automated process because the BIC is mandatory to do so, and an IBAN would simply not match any BIC in the world.

But... the "system" (both machines and people) behind this will most probably try to identify the bank and the account and will keep on trying. It will take a bit longer, though.

Note that the IBAN contains the bank code, so that it's quite unlikely that a transfer reaches a wrong account.

In summary, it's possible that there is a clerk somewhere in the world trying to solve the issue. And this clerk usually belongs to a delegate bank which is not the origin nor the end in the process.

SO: both the agency and you can check it, but will not be able to confirm anything until everyone in the payment chain finishes their job trying to do the transfer. This can take LONG (2 weeks would not be strange). The only thing the agency will be able to confirm in the meantime is that they don't have the money anymore in their account.

Just my experience!

Ruth @ MW


[Edited at 2007-08-28 14:30]


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Lori Cirefice  Identity Verified
France
Local time: 21:38
French to English
Ask for the MT103 Aug 28, 2007

Ask the agency to get the MT103 report from their bank, and then give that to your bank so they can trace it. This reports shows exactly where the $$ went.

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Judy Almodovar
Italy
Local time: 21:38
English to Tagalog
+ ...
TOPIC STARTER
Balance inquiry Aug 28, 2007

megane_wang wrote:

If they tried to do a transfer using a BIC which containted a real IBAN the transfer could not be completely done in an automated process because the BIC is mandatory to do so, and an IBAN would simply not match any BIC in the world.

But... the "system" (both machines and people) behind this will most probably try to identify the bank and the account and will keep on trying. It will take a bit longer, though.

Note that the IBAN contains the bank code, so that it's quite unlikely that a transfer reaches a wrong account.

In summary, it's possible that there is a clerk somewhere in the world trying to solve the issue. And this clerk usually belongs to a delegate bank which is not the origin nor the end in the process.

SO: both the agency and you can check it, but will not be able to confirm anything until everyone in the payment chain finishes their job trying to do the transfer. This can take LONG (2 weeks would not be strange). The only thing the agency will be able to confirm in the meantime is that they don't have the money anymore in their account.

Just my experience!

Ruth @ MW


[Edited at 2007-08-28 14:30]



It's been 40 days past but the PM I've worked with in this company doesn't even informed me about this, I was only wondering why it takes time unlike before they we're prompt in payment ( maybe it depends on the PM to work with) and I didn't met any problem like this. I also completed another project with the same company right after that project on the same month but with different PM, purchase order and invoice, at this time I've entered the corresponding IBAN and BIC correctly and I received it first. So I was wondering why the other payment didn't arrived and again I didn't heard anything about this from my PM on this project. I tried to send her an email but she's not yet replying. Anyway, I try to send her again and do the advice of Lori Cirefice.
Or else it will end up like what you said, they don't have the money anymore. Hope its not, it's not a small amount that easy to forgive and forget.


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Judy Almodovar
Italy
Local time: 21:38
English to Tagalog
+ ...
TOPIC STARTER
thanks for the advice Aug 28, 2007

Lori Cirefice wrote:

Ask the agency to get the MT103 report from their bank, and then give that to your bank so they can trace it. This reports shows exactly where the $$ went.


Thanks for the advice, very nice idea, hope that the agency will also collaborate for this.


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