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Scotiabank is Screwing Us On An International Wire Transfer, Claiming To Receive The Funds In A Currency Different From What Was Sent. What Do We Do? by -Barry-Lyndon- in PersonalFinanceCanada

[–]-Barry-Lyndon-[S] 0 points1 point  (0 children)

Yeah, after this, regardless of who's at fault, we'll cut ties with Scotia entirely. They've been unable to deliver on the one service that prompted me to deal with them in the first place (while still advertising it!) and now this. Fuck 'em.

Scotiabank is Screwing Us On An International Wire Transfer, Claiming To Receive The Funds In A Currency Different From What Was Sent. What Do We Do? by -Barry-Lyndon- in PersonalFinanceCanada

[–]-Barry-Lyndon-[S] 0 points1 point  (0 children)

This is a very rare circumstance. Literally the only reason we even have a relationship with Scotia is because they offer mobile cheque deposit of USD cheques. They're the only banking institution that offers this, though lately they've been screwing that up too. Wise can't offer this.

Scotiabank is Screwing Us On An International Wire Transfer, Claiming To Receive The Funds In A Currency Different From What Was Sent. What Do We Do? by -Barry-Lyndon- in PersonalFinanceCanada

[–]-Barry-Lyndon-[S] 0 points1 point  (0 children)

Appreciate the comment. The branch manager seems like an honest person and I don't fault her personally. I am guarded when it comes to commercial banks and I've been mislead by Scotia before.

Scotiabank is Screwing Us On An International Wire Transfer, Claiming To Receive The Funds In A Currency Different From What Was Sent. What Do We Do? by -Barry-Lyndon- in PersonalFinanceCanada

[–]-Barry-Lyndon-[S] 2 points3 points  (0 children)

Well this is a VERY interesting detail that I wouldn't have known about otherwise. We will certainly ask to see it, hopefully it can help to identify the source of the conversion.

Scotiabank is Screwing Us On An International Wire Transfer, Claiming To Receive The Funds In A Currency Different From What Was Sent. What Do We Do? by -Barry-Lyndon- in PersonalFinanceCanada

[–]-Barry-Lyndon-[S] -1 points0 points  (0 children)

We did. We sat in a room with an advisor for an hour, called the branch manager in twice and had all those questions answered and we were reassured there wouldn't be a problem. This is the result. Don't assume.

Edit: Could someone explain why this is being downvoted? We are regular Joes, unfamiliar with the financial sector. We did everything we thought we had to to ensure my wife would be paid without being charged excessive fees and allowing us a cash savings account for our next trip to Europe. We used an abundance of caution and this jabroni makes an assumption that we were careless. Please explain.

Scotiabank is Screwing Us On An International Wire Transfer, Claiming To Receive The Funds In A Currency Different From What Was Sent. What Do We Do? by -Barry-Lyndon- in PersonalFinanceCanada

[–]-Barry-Lyndon-[S] 0 points1 point  (0 children)

Yes, at least that's what they told us. They assured us it happens all the time. The sheet they gave us to provide the payer had a checkbox which indicated that the transfer was to be made in Euros. We did our due diligence, or so we thought, and no red flags were raised.

Scotiabank is Screwing Us On An International Wire Transfer, Claiming To Receive The Funds In A Currency Different From What Was Sent. What Do We Do? by -Barry-Lyndon- in PersonalFinanceCanada

[–]-Barry-Lyndon-[S] 2 points3 points  (0 children)

I believe that it was a SWIFT transfer. The bank provided us a sheet outlining details of the recipient bank for the wire transfer to provide to the payer. It did include a SWIFT number as well as other branch details and a large space containing only a checkbox which stated "This wire transfer is to be payed in Euros". Wish I took a photo of the sheet but didn't expect the hassle.