transferwise payment bounced

Discussion in 'Business Discussion' started by extremedox101, Nov 29, 2018.

  1. extremedox101

    extremedox101 Trusted Member Business Angel

    hi

    i sent small amount from tw account to skrill , i just did to test how this works .

    i used Skrill swift code for this transfer , i fill payment details with reference number because transferwsie didnt accept their recipient IBAN , that cost me 2 euro .

    i have seen the credit in my skrill in 2 days then a couple days later transferwise inform the amount is bounced
    is this odd ??
     
  2. negon

    negon hannibal the cannibal Mentor Group Business Angel

    strange, did you asked them what the issue was?
     
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  3. extremedox101

    extremedox101 Trusted Member Business Angel

    transferwise don't know the reason :Your recipient’s bank couldn’t process your transfer — but they didn’t tell us why.

    i didn't ask skrill , i'm trying to be calm cig-:, but it's strange.
     
  4. gonharpia22

    gonharpia22 Banned User BANNED MEMBER

    Skrill might bounce incoming transfer that aren't coming from a bank account in the name of the skrill account holder. And Transferwise doesn't send your outgoing transfers from your personal IBAN account (that is only for accepting incoming payments), as far as I know.
     
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  5. extremedox101

    extremedox101 Trusted Member Business Angel

    if that the case then you are correct about not accepting it , but i'm new with transferwise and they showed me that i'm sending from my account . i posted this question earlier to see if there is emi with such option and i thought transferwise would likely to do it by default EMI with dedicated/personal outgoing iban

    has anyone reading this tried to send from transferwise to advcash ?

    thanks
     
  6. extremedox101

    extremedox101 Trusted Member Business Angel

    @gonharpia22 you are correct transferwise ibans are one direction - receive only .

    guess we need eu bank account to have both features ;) i will search for this ....
     
  7. fshore

    fshore Building Trust Entrepreneur

    Then transfer might have been sent as swift transfer instead of sepa. Does Skrill accept international swift? I had this issue with paysera in the past. They only accept sepa transfers, not swift.

    TransferWise sepa payment from borderless account are sent from your name. I have tried that myself. TransferWise support page also says that.
    However swift transfers are different.
     
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  8. extremedox101

    extremedox101 Trusted Member Business Angel

    Does Skrill accept international swift?

    i would hope someone can give a little idea .

    TransferWise sepa payment from borderless account are sent from your name. I have tried that myself. TransferWise support page also says that.


    possible i don't have much experience with this ,

    the support reply with this letter ;
    Generally, the receiving bank should see our details when sending funds from the borderless account.

    The unique IBAN we provide is simply for the purpose of receiving incoming payments into your balance.


    thanks
     
  9. fshore

    fshore Building Trust Entrepreneur

    Again, as discussed in the other tread,
    Quote their support page :

    The only exceptions are transfers from your GBP, EUR, USD or AUD balance, where your or your company's name will be used.

    TransferWise Help | What's the sender name on transfers made from my borderless account?
     
  10. extremedox101

    extremedox101 Trusted Member Business Angel

  11. gonharpia22

    gonharpia22 Banned User BANNED MEMBER

    Thanks for the info about SEPA being sent in ones own (or company) name. I didn't know that, and thought all outgoing TW transfers are sent in TW's name. Good info!
     
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  12. extremedox101

    extremedox101 Trusted Member Business Angel

    good info , i need advice.

    if i tried to send via sepa from the borderless account to adv will it got busted by adv :)? i see risks in it from both sides .

    - adv allow payments only from your normal bank account .

    -tw against crypto... if they found out , it's problem.

    adv recipient bank account details nordpay financial ltd
     
  13. gonharpia22

    gonharpia22 Banned User BANNED MEMBER

    If I understand this correctly, if you send a sepa transfer from the borderless account it shows up sent from your local bank account number aka adv sees a 'normal bank account'. This solves the first problem.

    I have no idea if it is a problem for tw that you send money to nordpay financial ltd or not, so no clue about the second one...
     
  14. extremedox101

    extremedox101 Trusted Member Business Angel

    yes you understand .

    thanks, this what i'm trying to figure out , since advcash is mostly known for crypto + e-wallet exchange . i don't want to make mistake and send from tw if they already know/detect that their business bank account from others cases who tried to do same using transferwise .