As a continuation of my last post concerning my telegraphic transfer from Dubai to the US: I continued to go to the sending agency here in Dubai for updates, waiting enough time to prevent them from putting me off by saying the paperwork was still going through.
Eventually, I was told that the problem was at Chase Bank's end in the US.
I called Chase, and after more than 30 minutes, I found out that - just as suspected - it is the US Government preventing the deposit. Little Hitler has some power, and is illegally preventing me from moving my money. I've done nothing wrong. I've done nothing illegal. They have no right to this obstruction. My rights as a US citizen (to my property and my free use thereof) are being violated.
All of that aside, it will take Chase four more days to return the money, so I can then go to the bank in Germany to get my money... which will probably take another week or more after that to finally get the cash back here in Dubai so I can again try to get it transferred to the US so I can pay some bills. Thankfully, I keep enough emergency fund in the US to go a couple of months without immediate cash.
The long and the short of it is that I have $8,000 in electronic limbo, and I won't get it for at least a week. I have lost the use of this money for nearly a month.
Thanks, Uncle Sam. I now know the true meaning of the sentence: "I'm from the government, and I'm here to help you."
The Disappearing Deposit
September 22nd, 2012 at 05:08 am
September 22nd, 2012 at 03:18 pm 1348327103
September 22nd, 2012 at 03:40 pm 1348328458
September 22nd, 2012 at 05:41 pm 1348335682
Is it possible for you to have your employer direct deposit a set sum to your American a/c to take care of your financial obligations With the constantly changing currency evaluations you will be on a rollercoaster ride. I'm surprised you've chosen Germany as intermediary...have you looked at Hong Kong as a possibility? Does HSBC have an outlet in Dubai? Can they facilitate your transfer?
September 23rd, 2012 at 02:35 am 1348367710
All of this came about because I was trying to save $40 or so. That's the price difference between using my bank to transfer the money, and using this place. It worked fine the first few months, until this occasion. Now, I'll have to bite the bullet and go to my bank for transfers.
The UAE apparently has their currency tied to the US dollar. This allows trade to flourish here. Think about how a constantly-fluctuating currency would affect trade. Here, as it is tied to the dollar (could have been the Euro, but the UAE has been doing this since before the Euro), people can count on the value not being lost solely due to a small country manipulating the currency. For me, it eliminates any chance of me losing - or gaining - value by the whims of the market.
I'll update again when I find out where my money is... I may as well wait until payday to send this money, plus more, back to the US for my next round of transfers. Why not? My fees are set. They are not based on a percentage of the amount.
Thanks to everyone who commented.
September 23rd, 2012 at 06:37 pm 1348425444
September 23rd, 2012 at 10:20 pm 1348438854
Still no word on my money.