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  1. #1
    Join Date
    Aug 2006
    Posts
    2

    Default Regarding a wire transfer

    Hello everyone. I went up to my bank this morning after purchasing something from China. They asked me to wire the money rather than use something like paypal, so I did as asked. However...while going through the process of wiring money with the bank clerk, she did not require me to put the address that they provided. She simply matched the swift code to "Bank of China Limited" and under additional information, I put "Zhoujiadu Subbranch" because that was the original information, but what has me worried is that although she wired the money to the bank, why wouldn't they need the other address? For whatever reason? Don't they need to know all the specifics? I'm sorry if this is a silly question and I hope I made everything clear enough. I'm rather inexperienced with banking as a whole, so I just wanted to clear this all up and catch a glimpse of relief. Thank you for taking the time to read and I hope to hear a solution or a sign of good news.

  2. #2
    Join Date
    Jul 2006
    Posts
    2,652

    Default Re: Regarding a wire transfer

    Quote Quoting SuouTamaki
    View Post
    Hello everyone. I went up to my bank this morning after purchasing something from China. They asked me to wire the money rather than use something like paypal, so I did as asked. However...while going through the process of wiring money with the bank clerk, she did not require me to put the address that they provided. She simply matched the swift code to "Bank of China Limited" and under additional information, I put "Zhoujiadu Subbranch" because that was the original information, but what has me worried is that although she wired the money to the bank, why wouldn't they need the other address? For whatever reason? Don't they need to know all the specifics? I'm sorry if this is a silly question and I hope I made everything clear enough. I'm rather inexperienced with banking as a whole, so I just wanted to clear this all up and catch a glimpse of relief. Thank you for taking the time to read and I hope to hear a solution or a sign of good news.
    You should address this matter with your bank.

    Why wouldn't they do the transfer through Paypal?

  3. #3
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Regarding a wire transfer

    Are you certain you will be getting delivery of your purchase? I would be sorely tempted to use an escrow service.

    Apparently she intends to establish her identity and collect the funds at the bank to which the money is wired.

  4. #4
    Join Date
    Aug 2006
    Posts
    2

    Default Re: Regarding a wire transfer

    Well, it's like a shop-type thing. It has quite a ton of positive feedback so I'm rather sure I'll have my item sent as soon as they receive my payment. Apparently for one reason or another, they just don't accept paypal for purchases over $500 dollars. I'm not particularly sure why. I'm going to my bank tomorrow morning to ask about the whole address matter. I would've thought if it was that important though, they would've definitely verified everything beforehand. I emailed the person handling the emails in China comparing the two bank addresses and I'm awaiting a response from them. It's the same *bank* and all, I just want everything to be as accurate as possible because I'm rather paranoid concerning money. I'll give the two addresses here so that maybe a bit of confusion can be cleared up:

    Seller's instructions:
    If you try T/T( wire transfer) my account information is as follows: (takes3-7
    days to transfer)
    Bank of China Shanghai Zhoujiadu Subbranch
    No. 4290 South Pudong Road Shanghai China
    Swift Code: BKCHCNBJ300
    Account No: 4030909-0188-012064-5
    Name: Yu Rui

    The bank's search query and my own using the swift code provided:
    BIC (Swift) Code: BKCHCNBJ300
    Institution name: BANK OF CHINA
    Branch name: (SHANGHAI BRANCH)
    City heading: SHANGHAI
    Address: 23, ZHONGSHAN EAST 1 ROAD

    This throws me off greatly. So as far as I know, the money that was sent out/wired went out with the account number, the name, the swift code, and the same bank, yet not this line:
    No. 4290 South Pudong Road Shanghai China

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