Electronic Transfer to Hungary Missing

Madangan

Registered User
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I recently requested the transfer of funds from Hungary. My lawyer over there organized the transfer of funds. 3 days later money arrived in Dublin but transfer rejected by my Bank as it was in HUF not Euro. Told by my bank that they returned money immediately. That was 18 days ago (13 working days).

Money has not arrived in Budapest.my lawyer is looking into it over there as I cannot speak Hungarian

I have little confidence in my Bank but what are my next moves vis a vis my Irish Bank.

Is 13 working days a ridiculous period of time?

My Irish Bank, when pressed, told me that waiting up to 10 working days would not be unheard of but also told me that as they rejected receipt of funds ( as they did not have facility to receive foreign currency) the return of the funds to Hungary was not within their control. Thy also said tht the speed was determined by the recipient Bank.

In other words when I compared the speed at which the money arrived here in the first place ( before being rejected) - 3 days- with how long it had taken to get back ( at tht point I believe I was at circa 7/8 working days) I was told that it only took 3 dys because they, Irish bank, were quick thereby implying the fault lay with the Hungarians.


Finally does anyone know if the Payment Services Regulations 2009 apply here. Given that, although not in Eurozone Hungary is in the EU?
 
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Well obviously no one has any advice for me but in case anyone stumbles on this in the future I'll post as to what ultimately happens.

In the interim my Irish bank have told me that other than sending me copy of the documentation they can do no more. I asked if tht meant they are washing their hands of the issue and was, politely told not to put words in thir mouth. They then repeated that there was nothing further they could do.
 
Why do you believe the fault lies with the Irish bank ? I can understand your frustration, but once they send the payment to where it came from, it is outside of their control.

If the payment was made by SWIFT, it should be possible to check that it has been received by the Hungarian bank, i.e. banks (not necessarily your branch) have access to the SWIFT system.
 
l did not at any point suggest that the fault must lie with Irish Bank as opposed to the Hungarian one. Right now the Hungarians say they have not received it. The Irish bank say they returned it.

My lawyer is dealing with the Hungarian Bank, I m dealing with the Irish one. As my Bank has been very difficult to deal with I decided to look for guidance here.

I am not trying to apportion blame, I am merely attempting to locate my money
 
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By the way, tarf head, I was told on Friday that my bnk were using Anglo/ IBRC swift code which, since liquidation has not been in use. so my Bank can't send a Swift message and presumably the hungarians wont be able to contact my Bank via th old swift code either.

My bnk finally confessed this to me 28 days into the saga of my missing money.
 
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