Hey all, If you're familiar with wired transfers through Gemini they send you information once you request one as far as what to put for information in the wired transfer itself. It consists of the following which I sent off this morning.
Beneficiary Name: Beneficiary Account #
Receiving Bank Name: Bank ABA:
Memo: (5 letters they REQUIRE you to put...XXXXX for example)
Now this is where the employee and myself screwed up, and mistakenly put my FULL NAME as the Beneficiary rather than "Gemini LLC" and for the Memo they put "Investment-Ref: XXXXX" instead of just "XXXXX".
Now I'm not to familiar with wired transfers but the funds still aren't loaded up on Gemini with it being the afternoon, and my money has been taken out my account. Will my wire transfer get rejected, take more time to go through, or am I gonna lose my money?
I dealt with this for the Etsy. IPO, courtesy of Wells Fargo (you are a basrard, Wells Fargo). Wires are a sensitive thing. If the recipient is not clearly named, for AML/KYC purposes, the wire will usually be rejected. If the wire is accepted, it will have to be attributed to an account, as it is attached to your social via your bank account. What I'm trying to say is, contact the exchange. They can't deny you your funds if they actually left the account and don't return. They accept them, you will basically get them. If they claim they didn't get them, the wire failed, and you will get a fee of 15-30 bucks, depending on your bank/account. You will have to resend. This cost me 25% on the Etsy IPO, my banker cost me 3 weekdays after attributing the wire to the wrong account. Morgan Stanley handled the offering, I have mean, choice words about them too, but I will keep them to myself.
Talk to your banker tomorrow, see if it provisioned. Since it's instantaneous, it probably did, contact the exchange as well.
I used to work at CEX
This was extremely helpful. Thank you very much!
Show Posts
