Extra bank fees charged by a third party bank

Full Member
jaruphons
Posts: 5
Joined: 20 Dec 06
Karma: 
19 Jul 07 08:14:38 am
Hi all,

Just wondering if any of you experience the same situation as I am. I recently made an order of a game console from Mkenterprise.com. I have settled the payment for the order, which I also have settled the bank fee on my side by deducting from the bank account. Then, recently I checked my account on Mkenterprise as to ensure that the payment has been completely transferred with the correct amount. However, there was slightly short payment by USD$26. I contacted Mkenterprise info centre and was suggested that my bank had transferred the money through a third party bank in the US and so they has imposed extra charge on my payment. I don't know how bank transfer systems work but since i already settled all my bank fees, I should, at least, expect that the specified amount should have been paid without being further charged. And what i dont understand is 'why the bank needs to go through a third party bank?' They did not even inform me such thing. And now MKenterprise would not proceed my order until it has been fully paid, which would cost me further more with their bank fee. Can anyone help me with this? I am from New Zealand and can tell you all that I am with ANZ bank. Is anyone from NZ and being with ANZ bank has this problem before?

Thanks
Joe

Free Member
jimmy_huber
Posts: 2867
Joined: 11 Mar 10
Karma: 
23 Jul 07 09:01:15 am
Im sure another member here has experience With bank to bank wire transfers that can enlighten us..

If any member has any ifo on this it would be greatly appreciated..


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Full Member
bananafritter
Posts: 2
Joined: 14 Aug 07
Karma: 
24 Sep 07 12:02:13 pm
Don't know if it's any help to you but I just used Westpac in NZ and had the same thing happen to me.

Spoke to Westpac and they said the payments can often go through a number of other banks, and they all deduct fees. It mentions this on the fine print of your wire transfer receipt - the fact that there may be additional fees, and the bank can't actually tell you how much those fees might be!!

Can't say I was impressed...

Full Member
fm1234
Posts: 838
Joined: 14 Dec 05
Karma: 
25 Sep 07 06:11:33 pm
It happens very frequently with international transfers. Banks outside of the US that deal in USD have to use a correspondent bank. When sending wires, the correspondent bank sometimes takes a fee. $26.00 is a pretty normal amount; I've seen them as low as $15.00 and as high as $ 50.00


Frank


"Failure is not when you fall down. Failure is when you don't get back up."

--J.J. Luna
Full Member
jaixer
Posts: 1
Joined: 27 Jul 06
Karma: 
25 Sep 07 09:21:19 pm
Yes, it happened to me before. Normally, it charged me 15 dollars to transfer my 5,000 dollars from one of my bank account in us to one of my bank account in canada.

the charge fee for transfering money can run up to 50 dollars, depends on the bank and the amount of money to transfer.

I have done that from time to time. I would rather to do it over the money order. It is much faster and securer than mailing the money order over the border, never know what might happen to it.

Bank should inform you in advance before they can charge you even more through the 3rd party bank.

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