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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.
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This is the probably the answer to your question.
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.
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This is the probably the answer to your question.
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thomasparra
Guest
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)
I agree with @Sols completely and this
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
can very easily be a trigger.
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
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^^
I find DBS tend to ask more questions, whereas Standard Chartered don't care as much (in Airwallex you should have both a DBS and a SC account number).
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...)
Just give them what they want, really, ends the headache
yeah, nobody does but this is the reality we live in these days
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?
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
Yes, sorry, I should have clarified - AirwalleX HK (I assumed @thomasparra was talking about HK).
AirwalleX HK provides accounts at DBS and SC for receiving incoming wires.
That's OK, so did I 🙂
Interesting, thanks for sharing. Was is always so, do you remember? (If yes, then my memory simply does not serve well.)
Last edited: Jun 23, 2024
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
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).
Anyway, I agree with @TheCryptoAnt - just give them what they ask for @thomasparra.
Yes, perhaps I messed it somehow together. I was quite sure that Airwallex HK had offered account only with one bank... but with what? 😉
Me too 🙂. (We have already discussed the background and links, in the previous posts.)
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
I don't have it yet, they might be rolling it out over time.
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.
This is why I can't stand EMIs.
I always got requests from Wise, Airwallex, etc... so annoting, not serious. We are a business, have a turnover of 10m + a year and over 5000 transactions, do you have any idea how many request of information we receive? We had to set up a contractor just to deal with those queries.
Never ever ever once a real bank sent us a " request for information " .
Serious businesses do not use EMIs, they are for the leftover entrepreneurs and EMIs know it.
(except UK banks which are s**t and froze our account just for a 500 GPB payment to Facebook ads)
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thomasparra
Guest
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.
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.
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This is the probably the answer to your question.
airwallex has been highly annoying to onboard unless from a usa entity, so no wonder they continue to be anal.
I must have at least 2 open and abandoned cases ex-Usa (where it is remarkably good)
😉.
I must have at least 2 open and abandoned cases ex-Usa (where it is remarkably good)
😉.
Wait.... they prefer US corporations?
Does the UBO's residency matter, or do they prefer a US one, too?
This makes perfect sense now! Thanks!
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