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  • 6 Post By shri
  • 1 Post By shri
  • 2 Post By Loz_2

Transferring Funds from US to Hong Kong Using Bank of America

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  1. #1

    Join Date
    Aug 2009
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    1,830

    Transferring Funds from US to Hong Kong Using Bank of America

    Just wondering if anyone has experienced long delays in processing of funds transfers from the US to Hong Kong using Bank of America. A client is expecting funds of over USD800k from a US investor in to their startup. Is it normal for them to take a 3 weeks or more for anti money laundering due diligence etc?


  2. #2

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    Dec 2002
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    Ask them to run a swift trace. Will reveal where the funds are held up.

    https://www.swift.com/news-events/ne...yment-tracking


  3. #3

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    Following up.. Did you get any additional info from the swift trace?

    Loz_2 likes this.

  4. #4

    Join Date
    Aug 2009
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    Hi Shri, it all arrive in the end. But it took 5 weeks in total. The reason for the hold up was the bank regulations requiring a laundry list of additional paperwork evidencing the funds not for terrorist related activities and anti money laundering. They are very strict now it seems.

    shri and Morrison like this.