Question

3. Jennifer is a very demanding customer. She has made a telegraphic transfer from her account with Bank of America, USA to her supplier in Malaysia, Hassan five days ago. However, Hassan complained to her that he has yet to receive the payment. As the banker in Bank of America, USA, analyse on the possible reason of the delay.

Answer 1

A telegraphic transfer is an electronic mode of the transfer of funds primarily for overseas transactions through wireless network.

Since through this method the funds are mainly transffered in overseas countries hence the delay may be due to the difference in the time zone of two different countries. Since one country is USA and the other is MALASIA.

The another reason may be that the format of the senders bank may be different from that of the receiver's bank. The difference in the working techniques may be the reason for the delay in the delay of the fund transfer of Jennifer.

The presence of too many intermediary banks in between the sender and the receiver bank may also be the reason for the delay in the transfer of payments. The more the presence of intermediaries the grater is the time required for funds to reach the receiver bank.