Wire transfers

[Don4 10]

I recently opened 2 accounts with a certain broker,why 2 accounts before u ask it was for hedging reasons. So i wired money to two different accounts using 2 different wire transfers at the same time.The problem is only one account was funded. I contacted them they said they have not recieved the other transfer for the other account. So what should i do?

[Kiwi 16]

Go back to the people who sent the wire.

 

Tell them X didn't get it. Ask them to get it tracked down and withdrawn if its gone into the banking world ether.

[Don4 10]

Thanks Kiwi,thats what ill do. Im just aggrevated,been trying to get everything set up since last week and here it is almost wed and still nothing,wife on my back about the missing money,just one of those days:)

Im sure there is a simple explanation for the money not being there(i hope)

[brownsfan019 17]

As long as you sent through a reputable bank or wire company the money cannot just disappear. I've had wires 'missing' but they eventually find their way. Just contact the firm you sent it through and ask them to do a trace. It could be sitting at your broker's general account but not sure where to go from there.

[Don4 10]

thanks brownfan, i just dont under stand how one made it and the other didnt, although they both looked identical everything was the same except for a few numbers on my account number as far as the paper work goes.the bank that it was wired from is a very small bank from my home town,I guess i'll just have to wait and see

[The Bear 10]

This happened to me once. I called the broker and it took a number of days ( 4 maybe) but they did find it. You'll probably just have to wait a bit.

[Don4 10]

The broker just contacted me and the money was just funded in my second account,thanks. So im good to go!!!

[Reaver 10]

Bank Wires use a system called Fedwire, which is quite frustrating at times when you are sending money in situation such as yours.

 

Are you using any corresponding banks or anything like that? I assume you are US Domestic and using ABA and not SWIFT codes. I am not fully versed on foreign systems, however in the states it is VVVEEEERRRRY easy to track the money. That is by design. Works to your advantage as long as you're not a criminal. ha ha

[Don4 10]

Thanks reaver!!!!!!!!

[Reaver 10]

No worries Don. Best of luck with everything!