Wire Transfer Request



    Share SWIFT Charges with Beneficiary?*

     

    Frequently Asked Questions

    1Can I initiate a wire transfer if I am not an ACB Caribbean customer?
    No, you must be an ACB Caribbean customer to send a wire transfer.
    2Do I have to come into the Bank to be able to send a wire transfer?
    No, a request can be made by requesting a Payment Order Form, completing and signing it and returning it to the designated address.
    3Can I send a wire transfer from my mobile app?
    Not as yet, ACB Caribbean is working on getting that feature enable within the short term, that is by Q2, 2021.
    4Do I need to know the beneficiary account number and any other details to complete a wire transfer?
    Yes, you are required to obtain all pertinent details to successfully complete a wire transfer. These details include
    1. Your account number
    2. Your address
    3. The Beneficiary’s account number
    4. The Beneficiary’s address
    5. The name of the Bank at which the Beneficiary has the account
    6. The Address of the Bank at which the Beneficiary has the account
    7. The Swift Address for the Bank at which the Beneficiary has the account. NB: depending on where the Bank is located (such as UK or European Union) you will be required to obtain the IBAN which is an International Bank Account Number
    8. Purpose of the wire transfer
    The specific routing details for the Receiving Bank. Some of these financial institutions use other Banks to receive the money on their behalf.
    5How long does it take to send a wire before the receiver actually gets the funds?
    This is dependent on a number of factors, such as the routing details, whether the funds have to pass through an intermediary Bank, whether the process is actually a straight-through one or if there are conditions that must be satisfied. However, wire transfers are usually completed and received within 24 hours.
    6Can I send EC Dollars to another country?
    When the wire transfer is initiated, the funds will be converted into the currency of the country. For example, if funds are being sent to Jamaica, the wire will be sent through our USD correspondent and the receiver will get the funds converted into Jamaican dollars.
    7Can I send funds and the receiver gets all the money without any deductions?
    Yes, it means that the charges will be paid by the sender. It is important that you specify on the Payment Order Form how the fees are to be paid. There are three options available
    1. BEN – here the Beneficiary pays all related charges upon receipt of the funds
    2. OUR – here the Sender pays all related charges before the wire is sent
    3. SHSA – here the charges are shared between both parties
    8What is the cost of sending a wire transfer?
    Depending on the option selected the cost of a wire transfer is as follows
    • Charge by ACB
    • Related charge by the Correspondent Bank
    Please refer to the latest PRICE GUIDE for the up to date charges.
    9Are there any countries to which a wire transfer cannot be sent?
    There are some countries that appear on a sanction list for which a wire transfer is restricted. There are other conditions that may require a license to allow for the funds to be released.