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Definitely have suprising powers. I once sent a wire payment in USD from my Hong Kong company’s HSBC business bank account directly to my China company’s bank i
by bobjordan 9y ago
Definitely have suprising powers. I once sent a wire payment in USD from my Hong Kong company’s HSBC business bank account directly to my China company’s bank inside China, where my bank in China would convert it to renminbi. I was shocked to find out the bank wire was somehow held up in NYC! Blew my mind. Nothing to do with the USA in this transaction, except the USD. The reason the wire was held up? I had wrote the word “Grenade” in the notes field of the bank wire. The payment was a materials deposit for an action camera mount product we make at my factory called “Grenade Grip”. I regularly write the product name in the notes field for my accountants. Mistake.
- mr_spothawk 9y agoLooks like I've got a new special alternative to "for a good time" to use in the memo field of all the checks I don't write anymore.
- C14L 9y agoThat's where SWIFT is located, afaik.
- runeks 9y agoThere is no such thing as a non-US bank holding electronic USD. All non-US banks hold USD via a US “correspondent bank”, and a USD transfer from one non-US bank to another amounts to the sender telling their correspondent US bank to transfer to the other bank’s correspondent (US) bank, and credit the account of the receiver.
- swiley 9y agoI was under the impression that all of those transfers at some point ended up on an FTP server at the federal reserve before they were cleared.
- tripzilch 9y ago... because actual illegal arms dealers would write "Grenade" in the notes field of a bank wire? :)
- 0wing 9y agosome contractor sold some an artificial intelligence predictive crime product to catch baddies somewhere in that pipeline