Should a Bank Wire from the US be processed as a domestic (ABA) Wire or International Wire?

I attempted to wire money from my Credit Union Bank to my Holding account today. I filled out the form my bank gave me with the information given to me by Goldmoney's Add Fund process. I attempted to process the wire as a domestic wire transfer since I was given an ABA/Routing (US payments) number from the Add Funds instructions.

My bank representative contacted me 3 hours later telling me the following:

"The outgoing wire for $1,150.00 was returned as "unable to apply need beneficiary bank" funds have been credited to account in the amount of $1,120.00. $30.00 return fee charged by returning bank. The Bank information you received is for the respondent Bank, this will now have to be processed as an international wire the receiving bank is in Europe."

And then there was a follow-up correspondent from my bank:

"We will need a new form filled out, and if you are processing it as an International wire you will need the Europe bank information and also the SWIFT code. Let me know when would be a good time to come in."

My Credit Union Bank charges $20 for domestic wires and $40 for international wires. So as of now with a failed transfer, I have spent $50 and have nothing to show for it. So I guess tomorrow I will try an International Wire, and that will be $40. If it works, this first wire attempt will have cost me $90. Ouch! My bank representative has been very helpful, but they don't know any more about this.

Can anyone shed some light on this? Did I make an incorrect assumption that all I needed was an ABA/Routing number for a domestic Wire? Or maybe my assumption was correct but I may have filled out the form incorrectly? When I spoke to Goldmoney this morning, I believe I was told to use the ABA number, but my memory is not serving me well.

Thank you kindly for your assistance,



  • mr1mr1 Posts: 375 Silver ✭✭✭✭
    I don't know the answer about whether it should be a domestic vs international wire but I would suggest you might consider funding your account by credit card instead. If you want to test out the wire transfer process in preparation for making much larger deposits that is one thing, but if you're only going to make deposits up to the $1000 range, then a credit card has comparable fees. The fee is 3%, so that is only $30 on a 1000 deposit.

    Good luck.
  • GoldDustGoldDust Posts: 24 Tin ✭
    @mr1 : Thank you. It's all part of the learning process and testing for larger transfers in the future. Once I get this resolved, I will post my findings here which will hopefully help other users with a similar issue. My previous fund transfer was with a debit/MC which cost me a 3% convenience charge. I funded $1000.07 to my account by sending $1031. However, a 3% charge for a $20,000 fund would be upwards of $600 which is a hit I would like to avoid when/if that time ever comes.

    I'll call GM in the morning if I can manage to wake up before they close in the UK.


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