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#1985861 - 12/31/14 06:34 PM wire received but more info needed=-ok to wait-urg
Trees Offline
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We don't handle tons of wires. We got an international wire in but we need more info. Beneficiary typically get these wires but they are off on vacation so we can't get more info from them. Can we hold the mondy, in suspense for, say 7 more days or should we return it and ask for more info?

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#1985942 - 12/31/14 10:37 PM Re: wire received but more info needed=-ok to wait-urg Trees
Buddy the Elf Offline
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What is the additional information you're needing from the customer?
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#1986360 - 01/05/15 08:26 PM Re: wire received but more info needed=-ok to wait-urg Trees
HappyGilmore Offline
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Pulling people out of the ditc...
send a service message to the originating bank explaining you need additional information and list what is needed...

i'm curious what additional info you would be looking for too, especially if the bene typically gets these wires...
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#1987675 - 01/09/15 06:57 PM Re: wire received but more info needed=-ok to wait-urg Trees
Trees Offline
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Bene is a school and $ for tuition.Typically wires contain info to match $ with the student. This was missing some details. Since resolved. Thanks for comments.

PS We do send out the service messages. Sometimes it takes weeks to get a response. In the interim we have been holding the wires but thought maybe we should hold for a specific time (say 2 weeks) and then send the money back.

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#1987685 - 01/09/15 07:12 PM Re: wire received but more info needed=-ok to wait-urg Trees
rlcarey Online
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Galveston, TX
Why don't you just refuse the wires and be done with it until they send it back with the required information???????
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#1987703 - 01/09/15 07:35 PM Re: wire received but more info needed=-ok to wait-urg Trees
John Burnett Offline
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Cape Cod
Randy's suggestion is as good one for a couple of reasons. First, it removes the risk of having the funds suspended in a GL account and not getting followed up on (or increasing the risk of fraudulent loss). And secondly, when the sending institution gets the funds back, it now has to account for them and that gives them added reason to pay attention to your request. A message without funds attached can get back-burnered.
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#1987724 - 01/09/15 08:21 PM Re: wire received but more info needed=-ok to wait-urg Trees
Buddy the Elf Offline
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With details you provided, I would send it back immediately. There is no requirement to hold it. In fact, the sooner you return it with the reason for the return, the sooner the sender will be able to obtain the information and resend the wire. I also agree with the reasons that John stated. I rarely, if ever, send a service message requesting additional information. Returning it outright gets better results.
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