Disappointment with chazing time

[Bentleylover]

Huge disappointment from chazing time After making a bank wire transfer as requested by ken. I had Made a transfer on 4 Th of Dec .the funds was debited from my account on 4 Th Dec . Due to Unknown reasons the funds was kept on hold by the beneficiary bank in China . Ken was unable to sort it out & resolve the issue. The funds are still on hold by that bank in China. I have requested my bank representatives to try for a reversal as ken is stating he hasn't the funds. It really strange that funds are on hold on China & ken is unable to resolve. Screenshot below of the remittance

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[Retina]

its not Ken's fault.

 

[Capt_K]

This could have happened with anyone mate, just so happened to be ken this time but you can't really blame him now can ya?


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[Bentleylover]

This could have happened with anyone mate, just so happened to be ken this time but you can't really blame him now can ya?


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I have requested my bank for reversal as its been on hold by the bank in China. Waiting for the reversal let's see.


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[infamous18]

How is this Ken's fault, does he own the bank in China which is holding your funds? I'm sure he's made every request to them however the bank works on its own schedule. Ken is beyond trustworthy I have personally had thousands in his possession for weeks until new releases were acquired. Trust in your choice of td, yes it sucks this happens in China but to insinuate it has anything to do with Ken is not fair. I have used most of the tds here Ken is amongst the very best. You're money is not lost.

 

[jpohl402]

Well said [MENTION=76012]infamous18[/MENTION]

 

[Bentleylover]

How is this Ken's fault, does he own the bank in China which is holding your funds? I'm sure he's made every request to them however the bank works on its own schedule. Ken is beyond trustworthy I have personally had thousands in his possession for weeks until new releases were acquired. Trust in your choice of td, yes it sucks this happens in China but to insinuate it has anything to do with Ken is not fair. I have used most of the tds here Ken is amongst the very best. You're money is not lost.

The funds have been hold by the beneficiary bank in China . He could have spoken to his bank to resolve and ask the reason why the bank has kept the money on hold at their end. Am not based on China how I will coordinate with bank in China


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[d4m.test]

"Disappointment with Banking system" would be more adequate.
For whatever, probably minor reason within the chinese banking system, the transfer did not go through - it happens. The statement asks explicitly for "amended payment instructions" or "request to cancel this transaction and credit Your account". They will do so automatically on 16/01 if no instructions are received (they also do not mention what they need, it may be a number, a name, it may be the address of the receiving banc, it may be a SWIFT code or an IBAN number, it may be currency exchange related, whatever).
Just cancel the transaction, review what is needed and try again.

 

[mech500]

How is this Ken's fault, does he own the bank in China which is holding your funds? ......

I have used most of the tds here Ken is amongst the very best. You're money is not lost.

+1

Exactly.





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[Bentleylover]

"Disappointment with Banking system" would be more adequate.
For whatever, probably minor reason within the chinese banking system, the transfer did not go through - it happens. The statement asks explicitly for "amended payment instructions" or "request to cancel this transaction and credit Your account". They will do so automatically on 16/01 if no instructions are received (they also do not mention what they need, it may be a number, a name, it may be the address of the receiving banc, it may be a SWIFT code or an IBAN number, it may be currency exchange related, whatever).
Just cancel the transaction, review what is needed and try again.

Thanks mate , yes will cancel the transaction Many thanks again mate.


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[Legger]

I think you've been a bit hasty coming out straight away and rubbishing Ken. As others have said, it isn't his fault. I've only ever used Ken for new watches and his service has been impeccable.

Anyway, I hope you get your money back.


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[psychospike]

Mate.. I thought we already had an understanding . Now you posted this.

I already explained to you over our countless emails that I can't do anything if your payment is stuck at the bank as you said . It's the bank's decision. I didn't receive any cents of your money. I don't work at the bank and I'm not the owner of the bank . I'm not even a VIP customer of the bank . So how to order the bank to "unstuck" your money? Besides , my business is kinda illegal so I don't want the bank to raise any questions that might pose a threat .

Earlier in the month when you gave me the details that your bank provided , I already noticed and told you that you had given them the wrong account number . It was missing one "2" . So that alone already caused some long delays. The thing is , every and I mean, every, wire transfer that was sent by my other customers has always been successfully received . Only yours that's stuck. so I'm every bit confused as you as well .

On the 29th , you told me the China bank has refunded you and they deducted $22 due to "foreign exchange rates" as reflected in the pic in your op . This is also out of my hands . It's not me who received your $22 . I didn't ask the bank to charge you. as a compensation ,I offered to give you the Christmas promo discount , which shouldn't be applicable to your order since the order date was before the promo . But you told me you can't send money via WU and Moneygram because it's not allowed in your country. So there's no payment options left .

Hope this clears up the situation .

 

[Bentleylover]

Mate.. I thought we already had an understanding . Now you posted this.

I already explained to you over our countless emails that I can't do anything if your payment is stuck at the bank as you said . It's the bank's decision. I didn't receive any cents of your money. I don't work at the bank and I'm not the owner of the bank . I'm not even a VIP customer of the bank . So how to order the bank to "unstuck" your money? Besides , my business is kinda illegal so I don't want the bank to raise any questions that might pose a threat .

Earlier in the month when you gave me the details that your bank provided , I already noticed and told you that you had given them the wrong account number . It was missing one "2" . So that alone already caused some long delays. The thing is , every and I mean, every, wire transfer that was sent by my other customers has always been successfully received . Only yours that's stuck. so I'm every bit confused as you as well .

On the 29th , you told me the China bank has refunded you and they deducted $22 due to "foreign exchange rates" as reflected in the pic in your op . This is also out of my hands . It's not me who received your $22 . I didn't ask the bank to charge you. as a compensation ,I offered to give you the Christmas promo discount , which shouldn't be applicable to your order since the order date was before the promo . But you told me you can't send money via WU and Moneygram because it's not allowed in your country. So there's no payment options left .

Hope this clears up the situation .

Thanks mate good luck.


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[trailboss99]

The funds have been hold by the beneficiary bank in China . He could have spoken to his bank to resolve and ask the reason why the bank has kept the money on hold at their end. Am not based on China how I will coordinate with bank in China


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No he could not! You obviously have no idea of how the banking system works and certainly not the China one. It's not Ken's money (not until he signs for it is it legally his), it's up to you to get it sorted not Ken. You sent it, you (well, your agent) need to fix it. Why on earth could this be Kens fault? if it's stuck it's because you have made an error on the paperwork. It needn't be a big one as just a period out of place or a lower case letter in place of a cap is enough for them to put a hold on things. The bank will use any excuse as they then get the use of your funds on the money market for a while. The funds are not "stuck" any way, it quite plainly states that they are waiting for either info from you or the OK to do a reversal and credit your bank.

To blame any of this on anyone but the banking system is just plain wrong.

 

[ap@12]

ken is a very great dealer where i buy all my watches,very trustful and very helpful

 

[OhPanerai]

Ken is an awesome dealer and a very reasonable person. Wrong person to blame OP in this situation, in my opinion.

 

[Robi666]

Ken... why did you put guy's funds on hold? To be true since you're the owner of Bank of China I cannot understand why in hell are you selling replica watches?

 

[Robi666]

To make everyone understands what kind of dealer and person Ken is, I will say that I got a watch seized twice in Chicago and he promptly sent the same watch for the third time in a row without even asking. He will always be my dealer of choice.

 

[Bentleylover]

To make everyone understands what kind of dealer and person Ken is, I will say that I got a watch seized twice in Chicago and he promptly sent the same watch for the third time in a row without even asking. He will always be my dealer of choice.

No doubt he is number 1 TD but he could have made it easier for me by communicating with the bank guys regarding the remit which went on hold .


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[trailboss99]

No doubt he is number 1 TD but he could have made it easier for me by communicating with the bank guys regarding the remit which went on hold .


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For the second time: NO HE COULDN'T!
The bank will not talk to him, they are not his funds as far as they are concerned. Just like it's the sender of a parcel that must sort it with the PO the same applies here. The person that "bought" the transfer service is the sender and it's him or his agent who must sort it out. That's how it works.

The BoC do not want to release funds, the longer they hold them the more money they make out of them. At any one time there are 100s of millions being held in limbo like that and they get to use it while they have it. As plainly stated in the communication reproduced in your OP all you needed to do was tell your bank to ask for a reversal.