Do SWIFT payments with wrong first name still go through?
I'm supposed to receive a payment from another country, yet when I provided the details, I confused the card with my husband's meaning the card holder firstname is wrong.
Do such payments still get processed if the lastname, address, IBAN and SWIFT are correct?
Is there a chance will get rejected? (I'm afraid since payments are made through another company which takes 10 days to process the payment and forward it to the appropriate person).
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Do such payments still get processed if the lastname, address, IBAN and SWIFT are correct? Is there a chance will get rejected?
This depends on the Beneficiary Bank. Some beneficiary banks validate the name and the account number [as both of these are available in their books]. If there is a mismatch, they reject the payment. Quite a few Banks only validate the IBAN, if this is correct, they would just credit this.
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