Hello,

I have created my new company 3 month ago and just did 4 operations with a foreign customers for which I received transfer in USD in my account BUT for the 4th operation my customer say the money was blocked by USA BANK and the reason is that our company illegal and when I told my customer its maybe a mistake they requested American bank to send money to my account and they did it and my customer sent me a new swift copy, BUT still not receive money! then he told me the USA BANK say my company is blacklisted and they returned money back to him!!! as my company is new and 100 % LEGAL, what can be the reason ? is that the name of my company is same like another blacklisted company ? or maybe my customer want to have time to paid me because he requested me before to give him 2 weeks to paid as he have some financial difficulties.. and when payment time arrived he sent to me a DEBIT swift.. then told me USA BANK say my company is illegal...

NB I know this customer before when he did business with a friend and I think he is credible and they paid me for the 1st operation correctly..

is there another way to get my payment ? mean to give him the name and account of another company despite of that the invoice is on the new of my company (which bank say its illegal/blacklisted ?

Thank you for helping me as soon as possible
12th June 2014 From Mauritania, Nouakchott
Ask your client to provide reasons of blacklisting, if any, also by which agency of US govt, under which Act/rules, etc.
Also pro actively provide some docs showing your legal status in India, like ROC certificate, PAN no, DIN no, ST/VAT regn no, etc. to prove your bonafide, although you have not mentioned what kind of business setup you have like Partnership, Ltd company, LLP, etc.
12th June 2014 From India, Mumbai
You have probably been identified as a company running a Money Laundering or Terrorist Funding operations. Banks across US and Europe are mandated to ensure that money laundering and terrorist funding is dealt with seriously.
You can check with the bank for the reason, not the client.
It is the bank which has the authority to reject the transfers.
AIITEA - Home
13th June 2014 From United Kingdom, Reading
HI,
You would have to get the notification/email/message which your client got, the transaction ID, date and time, then send this information to the respective Bank.
Please provide you contact information and your availability and seek time to talk to them.
Alternative to get payment is, Setup an Paypal account, Attach your Debit/Credit card/bank . Provide your Pan number / TAN on paypal. Get it verified. Send an invoice to client via paypal.
14th June 2014 From India, Mumbai
>>mean to give him the name and account of another company despite of that the invoice is on the new of my company (which bank say its illegal/blacklisted ?
Not a good Idea, as per accounts.
You would have to raise invoice from Company A ( new ) to company B (old non-blacklisted), Get the payment from USA.
Transfer money from company B account to Company A.
If both the companies belongs to you or are sister concern companies - then it would be internal bill issue/tax issue - should avoid such transaction.
15th June 2014 From India, Mumbai
Add Reply Start A New Discussion

Cite.Co - is a repository of information created by your industry peers and experienced seniors. Register Here and help by adding your inputs to this topic/query page.
Prime Sponsor: TALENTEDGE - Certification Courses for career growth from top institutes like IIM / XLRI direct to device (online digital learning)





About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2019 Cite.Co™