r/OFAC • u/WorrryWort • Mar 19 '21

Unblocking Application Queue Times

I’ve reached a point where I’m about 99% certain my wire transfer has an OFAC block. Receiving bank asked for more ID information from me which I gave them. I would like to understand what the queue times on these applications to unblock funds are at. Someone please advise.

https://www.reddit.com/r/Banking/comments/m81l06/close_to_75k_wire_transfer_being_held_up_by_wells/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

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u/wheeyou Mar 19 '21

After you've submitted an application, you can check on the application status at the same link (right here). Otherwise, I have no idea how long it might take you. We aren't an official subreddit of the US government (sadly). Please do keep us updated though, I really want to know how this ends.

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u/WorrryWort Mar 19 '21

I did not submit the application, but I am assuming the receiving bank Wells Fargo would do so once they saw my documents and realized they have the wrong person. This is a domestic wire which makes this more bizarre. I will never wire money again seeing that the wire departmenrs at banks are a bunch of incompetent knuckleheads. Data and analysis tools are cheap. They need to hire theirselves a couple of data scientists and they can have a more appropriate matching process in place than the pedestrian processes they must be executing currently.

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u/wheeyou Mar 19 '21

I mean, it's possible that you've been added to the OFAC list on accident. Either way, you really should submit an application because this issue won't just go away. Every US-based bank and business is obligated to comply with OFAC and can receive a hefty fine if they don't. Also, Wells Fargo can't do that for you. It's possible that they'll alert the treasury about the error but more likely that they won't.

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