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Foreign transfers and availability date

5. Does the consumer requesting a remittance transfer have to be told when the funds will be available for the recipient?

Yes. The date in the foreign country on which funds will be available must be provided on the receipt for the paid transaction. When appropriate, the phrase “may be available sooner” may be added.

Learn more about John Burnett’s webinar Remittance Transfers Update

First published on 02/09/2020

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