Sent wrong currency IBAN by mistake

[HundHond]

Two days ago someone sent me an amount from HongKong to my UAE bank account. I gave the person my AED (UAE Currency) IBAN by mistake instead of my USD IBAN.

Any idea what will happen in this case? Will I receive the money in AED and the bank will take charges? Or won't I receive the money at all?

 

[Sols]

Only the recipient banks knows for sure.

It's probably going to be one of three things:

1. Amount is converted from USD to AED (using whatever exchange rate and fees the bank charges) and credited to your AED IBAN.
2. The bank is nice and credits your USD IBAN instead.
3. The bank sends the transfer back due to currency mismatch.

You can try contacting your bank and let them know what happened. Tell them you made a mistake and would like the transaction credited to your USD account. They might do it. They might say they can't do it. They might say they can do it and it still goes to your AED account.

Toggle signature
This is the probably the answer to your question.

 

[uranium]

Most likely auto converted to aed

 

[JohnLocke]

uranium said:
Most likely auto converted to aed
Click to expand...

Agree, most banks behave like this.

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[daniels27]

You may want to call the bank and tell them. I am aware of all least some banks in Germany who called us in the past on some payments like this and were able to reroute.