Home Page
   Articles
       links
About Us    
Traders        
Recipes            
Latest Articles
Wire transfers

 
Post new topic   Reply to topic    Downsizer Forum Index -> Small Business Questions, Ideas and Advice
Author 
 Message
jema
Downsizer Moderator


Joined: 28 Oct 2004
Posts: 26618
Location: escaped from Swindon
PostPosted: Fri Jan 26, 07 9:08 pm    Post subject: Wire transfers  Reply with quote    

I have someone who wants to make a large business payment to me from the West Indies by wire transfer. Is this just a matter of giving them my business account number? I have never had a payment this way before

cab



Joined: 01 Nov 2004
Posts: 32429

PostPosted: Fri Jan 26, 07 9:15 pm    Post subject: Reply with quote    

Seen this done with overseas students getting money wired to them, and had money wired to me once to pay a bill someone owed me for. They'll need your account details, thats your name, name address and phone number of the bank together with sort code, and your bank account number. The precise details seem to vary according to where the money is being sent from; I suspect thats all to do with how paperwork happy each place is.

cab



Joined: 01 Nov 2004
Posts: 32429

PostPosted: Fri Jan 26, 07 9:24 pm    Post subject: Reply with quote    

Oh, of course that was a wire to me personally, I don't know for sure that its the same for your account.

alison
Downsizer Moderator


Joined: 29 Oct 2004
Posts: 12908
Location: North Devon
PostPosted: Fri Jan 26, 07 10:02 pm    Post subject: Reply with quote    

Is this the nigerian prince who cannot get hold of his money, and needs an account in the UK

jema
Downsizer Moderator


Joined: 28 Oct 2004
Posts: 26618
Location: escaped from Swindon
PostPosted: Fri Jan 26, 07 10:07 pm    Post subject: Reply with quote    

alison wrote:
Is this the nigerian prince who cannot get hold of his money, and needs an account in the UK


he's ever so convincing

dougal



Joined: 15 Jan 2005
Posts: 7184
Location: South Kent
PostPosted: Fri Jan 26, 07 10:11 pm    Post subject: Reply with quote    

Hang on -
there are two different things
a bank transfer
and
a money transfer.

Normally "wiring money" has meant a Western Union money transfer.
This would normally not have anything to do with bank accounts.
Its how nannies send money back to their families in the Philippines.

Western Union info here.
http://www.westernunion.co.uk/info/osMoneyTransfer.asp

jema
Downsizer Moderator


Joined: 28 Oct 2004
Posts: 26618
Location: escaped from Swindon
PostPosted: Fri Jan 26, 07 10:27 pm    Post subject: Reply with quote    

I assumed in this case they mean bank transfer, but they are getting back to me Monday with details, so I guess I will find out then.

MarkS



Joined: 01 Aug 2006
Posts: 2626

PostPosted: Tue Jan 30, 07 12:55 pm    Post subject: Reply with quote    

I would say IBAN, which is good in europe and adopted as an international 'standard' but will his bank support it ?

maybe BIC/SWIFT if not ?

jema
Downsizer Moderator


Joined: 28 Oct 2004
Posts: 26618
Location: escaped from Swindon
PostPosted: Tue Jan 30, 07 1:03 pm    Post subject: Reply with quote    

Well I have given the bank details and I'm waiting....

Northern_Lad



Joined: 13 Dec 2004
Posts: 14210
Location: Somewhere
PostPosted: Tue Jan 30, 07 1:08 pm    Post subject: Reply with quote    

If it's a BACS (or better yet CHAPS) then all they need is the sort code, account number and a reference number if it's to a building society.

thos



Joined: 08 Mar 2005
Posts: 1137
Location: Jauche, Duchy of Brabant (Bourgogne-ci) and Charolles, Duchy of Burgundy (Bourgogne-ça)
PostPosted: Tue Jan 30, 07 1:23 pm    Post subject: Reply with quote    

MarkS wrote:
I would say IBAN, which is good in europe and adopted as an international 'standard' but will his bank support it ?

maybe BIC/SWIFT if not ?

IBAN is Europe only. The rest of the world uses Swift, except US banks, which have no knowledge of the existance of the rest of the world.

dougal



Joined: 15 Jan 2005
Posts: 7184
Location: South Kent
PostPosted: Tue Jan 30, 07 2:08 pm    Post subject: Reply with quote    

jema wrote:
Well I have given the bank details and I'm waiting....
... for the account to be emptied or filled!

jema
Downsizer Moderator


Joined: 28 Oct 2004
Posts: 26618
Location: escaped from Swindon
PostPosted: Tue Jan 30, 07 2:10 pm    Post subject: Reply with quote    

dougal wrote:
jema wrote:
Well I have given the bank details and I'm waiting....
... for the account to be emptied or filled!


I assume the basic reality is that simple account numbers do nothing much at all.

jema
Downsizer Moderator


Joined: 28 Oct 2004
Posts: 26618
Location: escaped from Swindon
PostPosted: Tue Feb 06, 07 9:55 am    Post subject: Reply with quote    

Yee haa the money is in the bank

I must say this is something that comes in handy, I was working it out recently and since May last year I have bought about £15,000 of business equipment, which kind of explains a slight shortage of funds

Funny really as on one level it is chicken feed compared to what a lot of businesses need by way of investment, but we are doing it without borrowing.

Post new topic   Reply to topic    Downsizer Forum Index -> Small Business Questions, Ideas and Advice All times are GMT
Page 1 of 1
View Latest Posts View Latest Posts

 

Archive
Powered by php-BB © 2001, 2005 php-BB Group
Style by marsjupiter.com, released under GNU (GNU/GPL) license.
Copyright © 2004 marsjupiter.com