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  1. #1
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    Thumbs down Popular Bank stole my money

    To months ago I ordered a wire transfer from my bank account in another country to my Popular account in Puerto Plata.
    I had done that many times before without any problems, but this time I misspelled my last name, so the transfer was cancelled, but the money did not return back to the transfer origin bank.
    After complaining many times in the Popular branch in Torre Alta, Puerto Plata, I only got a transfer number, but not legal proof or signed document whatsoever.
    My other bank says that the money is not back there. It is a serious bank, in a serious country, so most probably some clerk at Banco Popular has my money in his/her pocket.
    If somebody has experiences or ideas about how to handle this problem, please let me know about it.

    Thanks in advance,
    Ben

  2. #2
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    sorry Ben but my only suggestion is to make sure you spell your own name correctly. Seriously though if all the account numbers and associated numbers were correct, names should surely be irrelevant.

  3. #3
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    If you have the transfer number tell Banco Popular to track where the money went. The number your bank gave you should be tracked at the other end by Banco Popular. Your bank no longer has the funds. Whats strange though is your bank didnt catch the incorrect spelling since both names should have been the same and they should have noticed this also.

    Talk to the bank manager and have him/her explain where your money went? If they cant come up with an answer I would contact Banko Popular Headquarters and complain with the wire transfer number and demand to know where the money is. Quite possibly it just got lost someplace in the shuffle and the bank has it in some ghost account someplace.

    Im sure they dont want to be known for losing peoples wire transfers. The bad press would definitely hurt their credibility in the long run.

  4. #4
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    Banco Popular is NOT world-renowned for their customer empathy. But as the other poster stated, if the money wasn't routed back to the originating bank- Popular has it, somewhere. You just have to scream loudly enough to get someone's attention who cares. A bullhorn in your hand may or may not do the trick.....

  5. #5
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    Get your bank in another country to perform a trace on the funds.
    I have had to do this before and the problem was solved very quickly.

    My best advice, make friends with someone at Popular, it's amazing what a smile and a good contact can do. Screaming will not do you any good.

    If you have no luck, PM me and I'll see what I can do or at least who you should speak to.

  6. #6
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    Like Robert said, put a trace on it from the originating bank. This trace will tell you definitively where the money is.

  7. #7
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    Euromoney on Dominican banking
    The finance magazine Euromoney has classified the Banco Popular as the best bank in the DR. The recognition is in July's issue. Euromoney highlights the management of Banco Popular, under the guidance of President Manuel Grullon.
    Awards for Excellence 2007 / Banking / Euromoney magazine


    one of the stories on DR1 today. kinda ironic

  8. #8
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    your claim has to be originated from the transfering bank as they have to trace the transfer, it may be that the originating bank send it somewhere else
    it does not automatically means that it is populars fault-it does not matter how reliable either bank may be it is just that banks definetily make mistakes
    it has happened to me before

    it could take a little time but you will get your money

  9. #9
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    After you trace the funds and the money comes up, You will notice other fees missing from this end in addition to what your bank charged you to send it...I transfered $35,000 USD in March and after proving where the money came from and that it was clean..That took 3 -4 days to do there was an additional $60.00 usd missing from the deposit...Popular had charged me a hefty fee to recieve the funds....Good Luck.........

  10. #10
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    As a retired international banker, I want to add my voice to Robert and Chris and Rotondo (sorry if I missed anyone) in urging you to have your bank initiate the trace. Under the rules they are responsible to act on behalf of their client (you) in communicating to the receiving bank (Popular) that the beneficiary (also you) is claiming non-receipt. There are standard procedures for this as well as formulas for payment of interest compensation by the bank that was "unjustly enriched" by having your funds in error. Good luck.

    P.S. Banks work by account number only,so the fact that you misspelled your name is irrelevant.
    Last edited by moviemouth; 07-26-2007 at 12:22 PM. Reason: add P.S.

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