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On related note - I work for Asian company which sends me money to Europe through their US "offshore" bank account in Wells Fargo. I'm receiving monthly paymen
by Markoff 5y ago
On related note - I work for Asian company which sends me money to Europe through their US "offshore" bank account in Wells Fargo.
I'm receiving monthly payments, but once payment bounced back because my local EU bank switched their intermediary bank, something normal client shouldn't care about, but I learned about hard way because WF is not updating their database of intermediary banks and routed my payment through outdated intermediary bank.
I was pretty pissed about my own bank not informing me about changing intermediary bank, so I changed my receiving bank to different one, although in the end it was Wells Fargo problem not keeping their records up to date.
Guess what happens years later after my other bank merger with different bank, Wells Fargo once again ignores new intermediary bank and bounced back the payment.
I dunno if this is standard US international banking experience, but I find it extremely unprofessional and unheard in other countries that payments would be bouncing because bank is too lazy to update their intermediary bank database, not sure what operation they are running in Wells Fargo.
In the end company made exemption for me and they are sending me money directly from their Asian account, because apparently you can't get worse banking experience than with US banks.