International bank transfer

[Jennybeans401]

I'm self employed and have a client who is now overseas in Holland. I'm really struggling financially at the moment and waiting for a bank transfer from them. They sent it last Wednesday but still not received it here.

My heating, gas, food is so high at the moment and I've got to pay for Xmas yet with the dcs.

Does anyone know how long International transfers take,? My bank are very vague

My ones bank (Egypt) to bank uk would take about 5 WORKING days, sometimes more. The problem is how quick the bank are to process it. In Egypt everything took for ever and there was seemingly no rush.

@MistyRock thanks, I feel reassured by this as I was worried it should definitely have arrived by today. What was the longest timescale as you can remember?

The sender's bank is Amro, I believe the third largest bank in Holland but my client spoke to them; they said it would be several days.

Your bank won't be able to do anything. You need to get the remitter to get their bank to put a trace on it from their end.

In future, use Wise (used to be TransferWise). They can pay you in any currency (assume Euro) and then you can convert it and send to your normal bank account. It's super efficient, best exchange rates and their customer service is excellent. I use it probably every month to send money to son in US, exchange gBP to Euro etc. Very quick service.

Thanks, I'm definitely looking into this.

I can't buy anything yet for Xmas for my dcs until this transfer comes through, I'm praying it arrives by the end of the week.

I'm not sure. Maybe 7 days. My bank in Egypt was actually the best bank there, but still they weren't as good as we're (British) are used to. I remember meeting up with some friends who were all extremely annoyed as their transfer were still being processed after a week or 2. Its very hit and miss.

Yes we tend to suggest Wise to our international clients, it tends to be quicker.

And cheaper ime.

I'd definitely recommend suggesting your client pays by Wise etc, firstly it'll cost them less, and secondly it'll take hours vs days from EEC.

I just had a message from the client. I'd informed that the payment still hadn't come through and to check with their bank. She's messaged back to say she checked two days ago and the bank said my bank had sent a compliance check to her bank. This was returned yesterday apparently.

She's now asked me to wait until Monday! Not sure why the bank would issue a compliance check though.

How well do you know this client OP? Don't want to worry you, but you're not being strung along by a fraudster are you?

Payment was made in the past through a website which recently folded hence now the payments are made direct via international bank transfer. This is our first time with the direct transfer so new territory for me.

In the past they paid very regularly through the website and they are a lucrative client.

I would definitely freeze services until you get payment OP. Beyond 7 working days sounds unlikely even for an international bank transfer. Even if the payment is lost somewhere I would let your client know that you cannot continue to offer services when payment has not been issued.

Very unsatisfactory. You need payment straight away. Again, I use direct bank transfer from over seas, to Euri & British accounts ( to others, not between my accounts).. They have been instant the last 5 times. Larger sums than this too.

Tell her to use her banking app and screen shot. You require photo proof of payment.

Also, reconsider your payment terms with this client.

She's sent the proof of payment with the logo from her Dutch bank Amro.

I've no idea why compliance checks would happen? Is that a banking thing, government or both?

I'm going to pause service on Monday if the payment still hasn't been received. 8 working should surely be enough.

Client has said that if I don't receive payment then she will send another but surely we'd be back to square one!!

Thinking of you OP. Hope you received your money.

Thank you, so sorry for not replying. It arrived! It took 10 days, but Christmas is happening in our house now! I cried when I saw the money had come in!

Good news!