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#1 15-09-2010 16:08:50

johnedward
Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 1961
Website

Unexpected charge when depositing to an Alpari account

I recently opened an account with Alpari, but had the unpleasant experience of seeing 2.2% of my deposit vanish into thin air. To make a long story short, on the Alpari website it states that should you choose to fund your account through a wire/bank transfer, the only fees you have to worry about are those charged by your bank (the sending bank).

Accordingly, my bank charged me 18€ to wire 1000€ to Alpari (and 1000€ left my bank, so my account was debited by 1018€, they told me about the fee in advance so I have no problem with them), however, Alpari indicated that it had only received 978€.

I asked Alpari about this, they said that the 22€ were charged by a "bank-correspondent" and that I should ask my bank about this. I did. My bank said that the correspondent bank was ASB Bank's (ASB is one of Alpari's partner banks) correspondent. I again asked Alpari about this as there is absolutely no mention on their website that there are "correspondent bank" fees. Instead of providing me with a straight answer, I got a cut-and-paste response (and no refund!).

This means that if I were to deposit 10,000€ with Alpari, it would cost me approximately 300€ in commissions. If I were to deposit 50000€, I would be paying approx. 1500€ in commissions.

Unfortunately, there is no way I will be depositing more into this account using bank transfers!

Below is a copy of the emails that were exchanged between myself and Alpari (Spanish mails are from my bank to myself). Oldest mail is at the bottom, newest on top.

-----------------------------

Hello,

ASB Bank Limited, Auckland, New Zealand, has correspondent relations with the following banks:

    * USD – Bank of New York, Swift IRVTUS3N;
    * EUR – ABN AMRO Bank, Swift ABNANL2A.

Please note that Alpari does not take any commission for crediting funds to a client's trading account. The amount we credit to a client's trading account is the same amount that was credited to our company's bank account.
In accordance with global banking practice, the payer can instruct their bank to withhold one of the following types of commissions:

1. OUR — All commissions are paid by the sender (Company). Please keep in mind that if third-party correspondent banks are included in the payment process, you will receive the transfer sum less the commission of these banks.

2. SHA — The commissions are shared between the sender (Company) and the recipient (Client).

3. BEN — All commissions are paid by the recipient (Client).
Your bank used BEN type of commission that is why comissions of intermediaries deducted from your payment.

--
Best regards,
The Payment Department
Company Alpari
http://www.alpari-forex.com/

Tel. (495) 727-17-67

----------------------------------------------------------------------

15.09.2010 14:30 - John написал(а):

Hi,

I asked my bank about this, she says that the 22€ I'm enquiring about were taken by the ASB Bank and/or their intermediaries (namely the DEUTSCHE Bank in Frankfurt). The person at the bank who handles international transfers confirms that 1000€ left my bank.

Why does ASB Bank use intermediaries? According to your website, the only fee that I'm supposed to pay is the sending fee which my bank charges (18€, which I paid). Will you refund this money to me (as this charge is NOT mentioned on your web page) - the chart on your "Deposit/Withdrawal comparison page" says that my bank's commission is the ONLY expense I will incur, which was not the case here.

I hope this money is refunded as I cannot deposit further or larger amounts into my account when such fees are taken (3% total for the transaction). Hope you understand my position.

Best regards,

John
http://www.forex-central.net

---------------------------------------------------

Buenos días John,

Los 22€ que faltan, los han cobrado los bancos intermediarios y el banco de destino.

Te adjunto la explicación que me han dado desde servicios centrales.

No dudes en ponerte en contacto conmigo si tienes cualquier duda más.

--------------------------------------------

Buenos días Leticia,

Te confirmo que desde Caixa Galicia salieron 1.000,00 EUR

Nosotros le cobramos a nuestro cliente a parte los gastos de “emisión” (18,00 €)

Pero OJO, la transferencia salió con gastos “COMPARTIDOS/SHARE” es decir, que los gastos de “RECEPCIÓN” van a cargo del BENEFICIARIO. Eso significa que las demás entidades que intervengan en el pago pueden ir descontando sus gastos del importe enviado.

Te informo que en esta transferencia intervino también el banco corresponsal en EUROS del banco Neozelandés, que fue el DEUTSCHE BANK DE FRANKFURT, así que tanto el DEUTSCHE BANK (Banco intermediario) como el ASB BANK LIMITED (banco de destino) pudieron cobrar gastos (por lo que veo en el correo del cliente, entre los dos cobraron un total de 22,00 €).

Para otra ocasión hay que explicarle al cliente que si quiere que en destino, es decir AL BENEFICIARIO le llegue el importe INTEGRO tiene que solicitarlo expresamente y entonces le cobraremos a EL todos los gastos: los de “emisión” y también los de “recepción” (eso lo tendrás que modificar en la pantalla de “liquidación” cuando teclees la transferencia).

Saludos,

Ana Belen Vilas Creo
|Transferencias |
Dirección: PG. POCOMACO, PARC. G-9, A CORUÑA - 15190 | Teléfono: 88388

-----------------------------------------------------------------------------------------

Subject: Re: [TID#10141096] A few questions
Date: Wed, 1 Sep 2010 16:39:02 +0400
To: xxxxxxxxxx@hotmail.com
From: payments@alpari.org

Hello,

We recived  only 978 euro, because other comission had been withdraw by bank-correspondet, you may ask about it in your bank.

--
Best regards,
The Payment Department
Company Alpari
http://www.alpari-forex.com/
Tel. (495) 727-17-67

------------------------------------------------------------------------

01.09.2010 10:50 - John написал(а):

Hi,

I just saw that there is money in my account but am surprised at the amount. My bank sent out 1000 euros and charged their fees separately (they withdrew 18€ in commission fees from my account and they withdrew the 1000€ that they sent out).
Yet my account does not reflect a 1000 balance. On the Alpari Deposit / Withdrawal Comparison Table page, it says that my bank's commission is the only one that will be charged. Could you please explain to me why there is this discrepancy between what my bank sent out and what is in my account?

Best regards,

John
www.forex-central.net


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