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Missing bank transfers.

Mikek1300gt
Sep 10, 2015
8
Question

Sending bank says they sent it so not their problem, receiving bank say they received nothing, not their problem. Anyone come across this before?

J

Yes. Typo (Some international bank codes don't have built in check-codes like Belgian ones do).

Triple check all the statements and make sure the account and BIC codes are all correct.

Sep 10, 2015 17:20
cailin

this happened to me with my direct debit to lampirus.Lampirus said they didnt get the money but it was clear from my bank statements that the transfer was made. I had to go through test achats finally to sort it out.In the end Lampirus 'found' the money in another account. so yes it does happen unfortunately that payments go astray. By the way Lampirus was absolutely unflexible and i lost a lot of belief I had in them because of their unflexibility.

Sep 10, 2015 17:47
Mikek1300gt

Mystery solved. The receiving bank (PSA) have frozen the funds with no notification given to me at all. Only after calling them and insisting the issue was escalated was I told my money now belonged to the Belgian State unless I could prove otherwise. Wow.

Sep 10, 2015 19:10
CC_R

What? Why is this frozen has the other party done done illegal, hope it wasn't a lot of money. Contact test achats for help.

Sep 12, 2015 08:00
Mikek1300gt

250,0000. Currently filling out a form to say where the money came from, in detail. How the hell I am supposed to know where every penny has come from for the last 25 years is a mystery to me.

Sep 12, 2015 10:16
becasse

You have now been tagged as a potential money launderer - the fact that your bank didn't intend to tell you that it had frozen the money is a clear indication of that fact. You will find it very difficult to lose that tag, particularly if you can't clearly identify the origin of every last euro.

I am surprised that, as such a canny person, you weren't aware that moving large sums of money across international borders, even within the EU, was fraught with potential dangers. Any amount exceeding 10.000 euros* is reportable, even if you carry it across a border in cash (and, if you do so, don't declare it to Customs, and get stopped, it will be confiscated).

*10.000 pounds if the transfer originates from a UK bank.

Sep 12, 2015 14:18
RPPKN

I don't understand this at all. I thought that moving money within the SEPA area was ok no matter how much it is. Last year I moved 100 000 euros from an ING account to a bank in the SEPA area with no problems and no questions. Had to do it in instalments of 20 000, over five days, as that was all my ING online banking would allow, but I never received any questions from the bank or any authority.

Was it a intra-SEPA transfer or a transfer from a non-SEPA country? SEPA contries are the 28 EU Member States plus Iceland, Liechtenstein, Norway Switzerland, Monaco and San Marino.

Are both bank accounts in your name?

Sep 12, 2015 14:31
Mikek1300gt

I am more than well aware that cross border transfers are more likely to raise an eyebrow despite the so called single payment area, but this was within Belgium. I'm also aware that the tax man loves expats due to their overseas accounts and possible overseas property.

I'm also painfully aware that any investigation is likely to cost me dearly even when there is nothing amiss. I'm also aware that the taxman does not have to prove any wrong doing, it's for me to prove every penny of the last 7 years is legitimate or it will be considered illegitimate.

Of course, for many of us expats, that may well be that little bit harder resulting in possible richer pickings for the tax man. Be careful out there......

Sep 12, 2015 18:43