- Original Poster
- #1
I had a USD Swift payment from a client into my bank account rejected by my bank in mid February and returned to sender. Details are as follows.
Sender bank: Lloyds UK
Receiving bank: HSBC UK
Currency:USD
Intermediary bank: likely JP Morgan
A Swift recall was sent by the sender bank (Lloyds) on 26th January to receive the funds back in their account. So far it’s been almost a month and the funds have not been returned to the senders bank account. I have contacted my bank (HSBC) and they traced the funds and confirmed they are at the intermediary bank awaiting recall. But it’s been 20 business days now and still no sign of the funds back to the senders bank. The reason for the rejection was an account name mismatch, my fault. My bank says they’ve done all they can as does the senders bank.
I’m not arguing my bank’s reasoning for rejecting it, just wondering if this kind of delay is normal and how long it’s likely to take for the intermediary bank to return funds to the sender.
Sender bank: Lloyds UK
Receiving bank: HSBC UK
Currency:USD
Intermediary bank: likely JP Morgan
A Swift recall was sent by the sender bank (Lloyds) on 26th January to receive the funds back in their account. So far it’s been almost a month and the funds have not been returned to the senders bank account. I have contacted my bank (HSBC) and they traced the funds and confirmed they are at the intermediary bank awaiting recall. But it’s been 20 business days now and still no sign of the funds back to the senders bank. The reason for the rejection was an account name mismatch, my fault. My bank says they’ve done all they can as does the senders bank.
I’m not arguing my bank’s reasoning for rejecting it, just wondering if this kind of delay is normal and how long it’s likely to take for the intermediary bank to return funds to the sender.
