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