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Please give me a hand
Dear All,
Good day.
Here I want to ask you all a question. As you can see following are two pictures, one is the bank slip from payer, and the other is the receipt of wire transfer from receiver.
Payer advised they have settled amount USD84,663.16 to receiver.
However, receiver informed that they only received amount USD84,601.16.
Underneath is the analysis from receiver for your reference.
$84,663.16
-34.00 (sending bank fee)
_______
$84,629.16
-$6.00 (receiving bank fee)
________
$84,623.16
And based on the calculation above, receiver was confused about why they just received $84,601.16? They should received $84,623.16, right?? Now the question is where the $22 difference may occur?
If you come across my question and happen to know the answer, please share it with me, thanks in advance.
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Post comment Comment (6 replies)
- Reply sunnyv
- I guess this is a question for Sunny to answer... haha
The US$22 difference is likely to be the "handling fee" of the receiving Bank in USA.
If the receiver in USA want to receive the "full amount", you in China have to write on the form "Pay the beneficiary in full"; but, in this case, you will have to pay all the charges including charges in USA. Normally, the sender pay all charges of China and the receiver pays charges of USA bank.
Now what you to do is to write to the customer, telling him the $22 is USA bank charges which is payable by him, the receiver. If he don't agree, you have to tell him that this is normal or customary procedure. You can also ask your bank to give to a letter explaining that all charges outside China is for the receiver to pay.
Hope that is clear.
- Reply heai88
- sunnyv: I guess this is a question for Sunny to answer... hahaDear Sunny, yeah, I also think you must be the only person who will give me a hand for this question. As you are always enthusiastic about helping others.
The US$22 difference is likely to be the "handling fee" of the receiving Bank in USA
Now the question is from the receipt of wire transfer, receiver said they paid the sending bank fee($34) as well as the receiving bank fee($6).
Besides, I have another question, from the receipt of wire transfer, I see the total $84,595.16, it seems that the receiver just received amount$84,595.16 instead of $84,601.16.
And underneath is my personal analysis.
The total financing amount is $84,663.16( see from bank slip)
Receiving bank charges is $40($36+$4)( see from receipt of wire transfer)
The total received amount is $84,595.16(see from receipt of wire transfer)
At last the gap amount is $28($84,663.16-$40-$84,595.16), I think this is the sending bank charges, as from the bank slip we can read: please deducted T/T fee from proceeds.
- Reply sunnyv
- Actually, you can easily get a breakdown of all the expenses in China and USA. They would have the information because when the receiver get the money, the bank would notify your bank in China with a breakdown of all the charges in USA. The receiver can also get the info from his receiving bank. There is also a 1/8% fee in US but not all banks charge that. The best thing to do is to ask the bank because they are respsonsible for expalaing anything they charge.
- Reply heai88
- sunnyv: Actually, you can easily get a breakdown of all the expenses in China and USA. They would have the information because when the receiver get the moneyTo tell you the truth, our USA office is the receiver, and the payer is our Hong Kong customer, it is hard for me to contact them for the explanation, they didn't give me any help, just said they have settled all amount $84,663.16 to us, and bore their bank charges. And I trun to check with the sending bank, the sending bank asked me for payer's account number to check the details, however, how could I know the account number? Customer didn't cooperated with me at all. I don't like to contact them, but I still have to do next Monday.
- Reply sunnyv
- Some companies or staff don't co-operate, but that does not mean you cannot insist on it. Write to them or call them on the following grounds;
In accordance with accounting requirements, we are required to explain the charges, even if the amount is small. The banks would only disclose the amount to the remitter. Accordingly, please let us know what is the nature of the charges. Thank you.
- Reply heai88
- sunnyv: Some companies or staff don't co-operate, but that does not mean you cannot insist on it. Write to them or call them on the following grounds;Sunny, I contacted our HK customer today, however, I got nothing but complaints from them again.
In acc
Honestly, I have never met such persons like them before. How could they be so irresponsible in business?
They didn't support me to check where the difference amount may occur?
They complained they have said all to me clearly and they have spent lots of time checking the issue, they don't have time to spare any more, I want to cry for meeting and contacting such irresposible persons.
I have told my superior I can't find out the reason because our HK customer didn't cooperate with me at all, and I really don't know how to do now. I have done my best.
