Good to hear. The client also used their personal account, not sure why he did but the counterparty surely doesn’t like it even though the sending and receiving bank is the same (DBS)Can happen for any transaction of any amount. The counterparties, sending bank, and transaction details matter just as much as the amount itself.
In many cases, docs are just once per counterparty. Once the bank understands your relationship with the sender and the bank is OK with it, they often don't ask again.
can very easily be a trigger.The client also used their personal account,
This^^Sending from a personal account was the trigger, if you will be receiving from personal accounts I'll suggest Currenxie, they've been great so far and also expect you to receive transfers from personal accounts, unlike Airwallex.
This shocked the bejesus out of me!even though the sending and receiving bank is the same (DBS)
I realized you wrote a wire transfer, but I'm not sure if you meant a cross-border wire transfer.I received a wire transfer from a client in Singapore
I received a wire transfer from a client in Singapore a few days ago and they are asking for RFI. Is it becoming more common nowadays? The sum is not even 5 figure so I’m really surprised.
I don’t like that I have to send invoice or other such documents every time im getting paid
Really? (We speak about Airwallex HK, I presume. E.g. Airwallex US is with Evolve Bank and Trust, TBMK.)(in Airwallex you should have both a DBS and a SC account number).
Yes, sorry, I should have clarified - AirwalleX HK (I assumed @thomasparra was talking about HK).Really? (We speak about Airwallex HK, I presume. E.g. Airwallex US is with Evolve Bank and Trust, TBMK.)
I am living under impression that Airwallex HK was always just with DBS HK – so I am wrong?
Airwallex HK is with SC HK and DBS SG - at least for meReally? (We speak about Airwallex HK, I presume. E.g. Airwallex US is with Evolve Bank and Trust, TBMK.)
I am living under impression that Airwallex HK was always just with DBS HK – so I am wrong?
That's OK, so did I(I assumed @thomasparra was talking about HK).
AirwalleX HK provides accounts at DBS and SC for receiving incoming wires.
Airwallex HK is with SC HK and DBS SG - at least for me
DBS HK for me is new. Literally showed up as an option a month or so back.Interesting, thanks for sharing. Was is always so, do you remember? (If yes, then my memory simply does not serve well.)
Yes, perhaps I messed it somehow together. I was quite sure that Airwallex HK had offered account only with one bank... but with what?DBS HK for me is new. Literally showed up as an option a month or so back.
I've had AirwalleX since July last year and it only had SC for HK.
Statrys has been solely DBS HK since inception (maybe that's who you were thinking of).
Me too . (We have already discussed the background and links, in the previous posts.)Anyway, I agree with @TheCryptoAnt - just give them what they ask for @thomasparra.
I don't have it yet, they might be rolling it out over time.DBS HK for me is new. Literally showed up as an option a month or so back.
Yes, SC in HK and DBS in SG has been there for a long time. Although they migrated to multi-currency accounts with DBS a few months ago. Before, you had to generate individual DBS accounts for each currency; now the accounts support all the 14 or so currencies. SC HK doesn't support that, it might be the reason that they started to support DBS HK as @intlman said.Interesting, thanks for sharing. Was is always so, do you remember? (If yes, then my memory simply does not serve well.)
This is why I can't stand EMIs.I received a wire transfer from a client in Singapore a few days ago and they are asking for RFI. Is it becoming more common nowadays? The sum is not even 5 figure so I’m really surprised.
I don’t like that I have to send invoice or other such documents every time im getting paid
This shocked the bejesus out of me!
When you say the same bank (DBS), do you mean
(1) the same DBS, but different jurisdiction (e.g., DBS Singapore to DBS Hong Kong)?
xor
(2) the same DBS *and* the same jurisdiction (e.g., DBS Singapore to DBS Singapore, so basically an internal transfer)?
Note:
I realized you wrote a wire transfer, but I'm not sure if you meant a cross-border wire transfer.
Thanks!
PS. This is extremely important to me as I have used the technique of intrabank transfers between my suppliers, my clients, and me for decades (when we use banks...)
Airwallex is another financial institution so DBS would have to consider it as an external transaction (of sorts), since DBS doesn't onboard the end customer and doesn't know the customer quite as well as Airwallex does. The customer can be doing things within Airwallex that DBS has no insight into.Same DBS Singapore so no crossborder, but maybe they consider DBS SG Airwallex is as a separate matter from a proper DBS SG account. But annoying for sure.
Wait.... they prefer US corporations?airwallex has been highly annoying to onboard unless from a usa entity.
This makes perfect sense now! Thanks!Airwallex is another financial institution so DBS would have to consider it as an external transaction (of sorts), since DBS doesn't onboard the end customer and doesn't know the customer quite as well as Airwallex does. The customer can be doing things within Airwallex that DBS has no insight into.