So my grandpa in Singapore passed away recently and my family is trying to wire money to my relatives for the funeral. We get their information and head to the bank thinking "we're sending money, no problem right?" We get to the bank and the teller refuses to wire the money from our account to the account in Singapore. Why you ask? Because we didn't have the address of our relatives. Seriously...what the fuck? How is this supposed to "protect against fraud". It is us trying to send money. It's not like we're trying to take money from the remote account. What the fuck, man?
Thanks man. You're probably right about the protocol thing. It doesn't make much sense though. It's like we have to prove we're not trying to steal money when we're trying to give it out. Maybe there's some kind of complex ass pyramid scheme that involves sending money?
might be worried you're trying to launder money? who knows.. but yea.. with banks they gotta keep extra protection... Know how frustrated you must feel. sorry to hear what happened.
Sorry for the loss dude, but most bank sometimes ask the most useless things, but it's for security reason and etc.
Some people might transfer their money to another country to avoid getting tax and loads of people do that shit...
My sympathies for your loss. Banks are required to record the recipient addresses of international monetary transfers purely to prevent money laundering. If the transfer is greater than a certain amount, they're also required to tell the government.
Sorry for your loss Surely when you are trying to get the money out, they have to have the right details and everything recorded... especially when banks and money is coming to concern. The amount of times I always get asked lots of securities in banks for my dad's account, it's ridculous but luckily I do know his details. Tbh.. Banks are sometimes a bitch
Sorry for your loss Is this your first time wiring money there? This is very typical so nothing to be frustrated about.
Thanks guys. Yeah, this is the first time I've tried to wire money. Usually I would just send a money order but this time, we wanted to make sure the money got there. Thanks for clearing it up, Ralph. Anyway, I got the address from my aunt from Singapore this morning and the money is on it's way. Or maybe it's already there? Thanks again.
well perhaps they're trying to make sure that you don't come back and sue them for loss, if some random person comes in claiming the money if they have no other way to confirm the recipient when they go in to get the money...or if some admin decides to put the money in another acct (just another way to double check i suppose). that or it's just plain regulations so they can trace where money goes. my condolences to your family.
