ABK Live Chat
Easy, Smart and Simple
Get the App
ABOUT ABK | | SEARCH | العربية

FREQUENTLY ASKED QUESTIONS


FUNDS TRANSFER FAQ’s

Open All   |   Close All

1. Can the form be printed on company/ individual letterhead?
+
-
Yes, but ensure that all data is readable specially the QR code on the bottom of the page
2. What if I need help in filling the form?
+
-
You may refer to the tutotrial that contain step by step screenshots and explanation
3. To who I can refer in case of any enquiry?
+
-
You may send an email to fundstransferform@abkuwait.com Or call our call center 1899899
4. What if beneficiary name exceed 35 allowed characters?
+
-
You may complete the name in address line #1
5. How may I check the information in the QR code generated?
+
-
Through any QR Reader application available in Apple/ Android store by scanning the QR code generated at the bottom of the form
6. What should I fill in applicant name?
+
-
You should mention company name if the debit account number is related to company, or the account holder name if the transfer related to individual customer
7. What if I need to transfer in any currency other than KWD (AED, USD, GBP…. Etc.), but I need the amount certain amount to be debited equivalent in KWD?
+
-
Select the desired currency of transfer, type the desired amount in KWD, then select from the dropdown next to the amount “Equivalent amount in KWD”
8. Do I have to type amount in words?
+
-
No, it will be auto-generated when you finalize the form and click on Print Form
9. Is IBAN number mandatory?
+
-
For IBAN countries IBAN is mandatory, for non-IBAN countries you should type the account number. There will be auto-validation for this when using the form
10. Is SWIFT code mandatory?
+
-
For IBAN countries SWIFT code is not mandatory, for non-IBAN countries you should type the SWIFT code along with Bank Code (Fed Wire/ IFSC / Sort Code… Etc.) if required
11. What are (Fed Wire/ IFSC / Sort Code)?
+
-
Fed Wire (or ABA) code: is a bank code used in the United States, which identifies financial institutions.

IFSC: Indian Financial System Code: is an 11-digit alpha-numeric code used to uniquely identify bank branches within the National Electronic Funds Transfer (NEFT) network by central bank.

Sort Codes: are the domestic bank codes used to route money transfers between financial institutions in the United Kingdom
12. Is Intermediary Bank name & SWIFT code mandatory?
+
-
No, it is optional and to ensure funds transferred correctly specially when transferring funds to a certain branch
13. What are Correspondence bank charges OUR & BEN?
+
-
This will allow you to select the correspondent bank charges to be paid as follows:

OUR: The Correspondence bank fees are expected to be paid before you initiate the transfer. This means the transfer amount is expected to be delivered in full to the beneficiary. Selecting this option safeguards you against short payments made to your beneficiary

BEN: The transfer fees are expected to be covered by the beneficiary of the funds. This means that any fees will be deducted from the amount you are transferring. As a result, the money will reach account short which will in turn result in a short payment made to your beneficiary
14. What if I need special rate for the funds transfer request?
+
-
You may type “Special rate” in the customer comments box available in the bottom of the form
15. What if I need same day value date for the funds transfer request?
+
-
You may type “Same day value” in the customer comments box available in the bottom of the form
16. What if purpose of the transfer is not mentioned in the dropdown list?
+
-
You me select “others” from the drop down list, and mention the purpose and additional details in the 3 text boxes following purpose of the transfer dropdown list
17. What if the fund transfer request requires multiple authorized signatories to sign?
+
-
All the required signatories has to sign inside the applicate signature available box even if more than 1 signatory is required
18. Is the information filled in the form will be stored?
+
-
To ensure data privacy and customer confidentiality, the data filled will not be stored in any servers.
19. Where should I submit the form after filling and signing it?
+
-
You may submit the form to any ABK branches, or to our corporate service center available to our corporate customers in Head Office branch
20. What if I have a suggestion to enhance or simplify the form?
+
-
We will be happy to receive your suggestions enquiries through our dedicated email below:

fundstransferform@abkuwait.com
21. What if I need to prepare multiple fund transfer requests?
+
-
After filling and printing each form, kindly click on “Refresh” button available on the top of the bottom of the page to clear all the filled information. Then you can start over and fill the new request.
22. Can I save the form for future use?
+
-
To ensure data privacy and customer confidentiality, the data filled will not be stored in any servers. Instead, you may enable auto-fill in your browser (Chrome as example) so once you type the first letter of the required filed, all the previous information provided earlier will be showing and you may select the required information.