Alright, I decided to write this up in case it will help you or someone else trying to send a wire to MB. I had a lot of troubles with a couple of wires, and it ALWAYS boiled down to the same thing - LOCAL BANKS DONT KNOW HOW TO SEND INTERNATIONAL BANK WIRES.
Here is what it boils down to:
Your wire is going to go through many hands before it gets to MB. Those hands are:
1. Your local bank
2. A big US bank that is a clearing house for intl wires
3. Lloyds bank in London
4. Antigua Overseas Bank
5. MB
If your local bank gets any of the information in the wrong places on the wire, the wire doesnt go through. And it is not easy to get it right because of the terminology of "benefiicary" and "special instructions" etc - because the yokels at your local bank send about 10 intl bank wires a year.
So here is how it has to be on the wire:
1. The "Domestic Receiving Bank". This is the big US bank which will get your wire first from your local bank. MB doesnt give you any instructions for this, but your bank knows that they have to route it through one of these banks. Typically it is Citibank, BOA, or JPMChase. But your bank will do this, and this is not the reason it gets fucked up. They almost always get this part right.
2. The "beneficiary bank". This is Lloyds. The information that needs to be included to get to Lloyds is the IBAN number, the sort code, the swift code, and the address. Note - the iban number is the most important thing to make sure it gets to Lloyds - if the iban number is right you can be missing the swift code and sort code and it will still get there.
3. The "beneficiary". This is AOB. In the simplest of terms, AOB has an account at Lloyds even though AOB is also a bank. So under the beneficiary information on the wire it needs to include the account number (11-XXXX-31), AOB, and their address (sometimes but not always).
4. The "Special Instructions". Now that AOB has the money, they have to know which of their customers it is intended for. The special instructions on the wire need to include "MB client account 1223XXXX". This is AOB's only clue as to who to give the money to. MB has an account at AOB, and their only way to get it is if the special instructions are correct. If AOB doesnt have account instructions, they send the funds back to LLoyds, and then Lloyds sends back to the big bank, and then back to your local bank.
So by now your money is at MB, but keep in mind that each stop along the way takes a little bit of money out. If your wire goes through, MB credits you the full amount and you would never know this, but in your case you see 120 missing because your wire probably made it all the way to AOB but didnt make it to MB because the special instructions were wrong or missing. THIS IS THE MOST COMMON ERROR!!
As you can see, the instructions you brought to your local bank can be interpreted many different ways and end up in different places on the wire that derail it from making it to MB.
Hopefully this helps.....
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