Wire Transfer

Puneet Advani (Querist) 13 August 2010 This query is : Resolved
Hi, I am Puneet from India and have a query about Wire Transfer. We are doing a business with a company in Togo and have done some wire transfer however, the Bank is refusing to pay the business partner due to which we are occurring a huge loss could you please suggest what we can do in tn this case...
They are asking to pay $58

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Guest (Expert) 13 August 2010
1. It might be banking charges.

2. If paying banking charges payment could be done then one saves on incurring further huge loss in business !

A V Vishal (Expert) 13 August 2010
You have not stated the reason for refusal? And I presume that $58 is the service chgs towards the transfer

s.subramanian (Expert) 14 August 2010
i concur with arunkumar.

Puneet Advani (Querist) 16 August 2010
The reason for refussal is that the bank thinks its money laundring and they will investigate, we have gone through a proper process of including a CA and then we did a Wire transfer. the 58$ charge we are ready to pay but that will be after the investigation and the party out there to the account we have transfered is also fighting for it. but again the bank says to them as well is money laundring

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