I tried to wire a deposit to Namibia to book my hunt for 2007. The transfer was refused by my bank because I did not have a physical address for my outfitter, only a PO box. Apparently the Patriot Act has complicated overseas money transfers. I was able to get the problem rectified and the money will on the way. Has anyone else had this problem? Have a Merry Christmas and a Safe and Happy New Year. Jerry Hoover

Jerry

WE had some deposits sent to our SA account and they also required the physical address of the benificiary

Cheers, Peter

A few years ago the Central WA Chapter of SCI wired some money for an Auction Hunt to a bank in RSA.

A little while after that some demands were made on their account from a person in RSA using their bank numbers as sent.

Luckily their Bank called the Treasurer before paying but they said they normally would have paid the money out.

After an investigation by the SAP they were told that this was a common occurance in wire transfers to banks in RSA as people paid big money for the numbers from Foriegn Account Holders.

Be Careful.

Anti-money laundering rules are on the increase worldwide and banks are becoming more particular about having complete information for beneficiaries of wire transfers.

At the company where I work (as global cash manager), we have had wire transfers to our own account rejected because we didn't put "Pte Ltd", or ",Inc." after the company name. Enforcement is highly variable depending upon the bank and country.

Your bank may have done you a favor by not sending the payment. Sorting out why funds didn't get where they were supposed to go can be a real hassle....

Regards,

Steve

Is it not possible to pay these deposits by Visa?

Once I had the proper data the money transfer went smoothly. I strongly suggest/recommend that you check with your outfitter/booking agent and make sure you have all the proper data before wiring any money. At best it will be rejected and at worse it could disappear in some abyss. Have a Safe Happy, and Prosperous New Year. Jerry Hoover

Our bank has always required both mailing and physical addresses for wire recipients - since 1999 anyway - and that goes for in or out of the US. Makes sense if you think about it IMO.

Gotogirl, you are right. But never having done this before,i did not know the entire process was so regulated. Have a Safe, Happy, and Prosperous New Year. Jerry Hoover

Jerry, it is really regulated differently at different banks - or that has been my experience - even with "big" bank branches being different. It can be a little intimidating at first and I've even had bankers where they took our directions on how to do it - scary! Good luck and Happy New Year!

My local little piddling bank hasn't ever asked for any info about the "receiver."

They have asked me "What country is Namibia in?" though. Twice.