Bank transfers from HSBC to Bank of China ... How long?!?!

[ForBajor]

So after transferring a security deposit for a flat from my HSBC HK account to the landlords Bank of China account, on Monday - I'm still waiting for the funds to be cleared in the landlords account.

I was warned that a transfer between HK banks can take 1 to 3 days, but it's been over 3 days now. Put simply, I need to know if this is normal or not.

Thoughts anyone? Obviously in the UK a bank transfer is either immediate or takes up to 2 horus between UK banks.

[Claire ex-ax]

When HBSC is involved, it seems to take longer.

[ForBajor]

Joy.

[Claire ex-ax]

A cheque would have been faster, and cheaper.

[ForBajor]

This is brilliant news.

[Kiz]

The fastest way is to take the cash out of HSBC and then deposit it at BOC (using the cash deposit machine). Yes banking is efficient in this town.

At least the banks are usually within walking distance of each other ha

[ForBajor]

I did consider it, but then thought do I want to walk around with that much money on me? No way I'd do that in UK...! So I foolishly thought a bank transfer might result in the payment going through in the "1 to 3 days" everyone mentioned, AND it would be nice and secure. Except that wasn't true.

So it's been over 3 days now and I'm still waiting.

On reflection a cheque would be my preferred option. You live and learn.

[HowardCoombs]

Original Post Deleted

If the amount is largeor its unusual/uncommon for that particular account, HSBC will hold on to it and sometimes they will call the account owner after 1-2 days to ensure its OK, not fraud etc.

Normally, HK and International wires take less than 24h but I had one last month that took 5 days. It happened to be a large amount, from an account that normally does not do txfers....

This could be one of those cases

[HowardCoombs]

Original Post Deleted

Perhaps they are worried about fraud?

In my case, I received a phone call and was asked about the amount and the name of the recipient. I couldn't name the recipient (but I knew the city it was going to) and I remembered the amount in very round numbers. They said "thank you" and 2 days later it was done.

Basically, the txfer was sidelined to be handled manually which delayed the whole thing.

[ForBajor]

Well this is large amount (2 months rent + utilities deposit) and is being transferred from an account I opened about a week and a half ago.

Incredibly, the funds in my HK account were transferred from HSBC in the UK, and that took less than 2 days.

Quicker to transfer overseas than between HK banks? Incredible but true.