Excess bank charges: message for Barbados competitors

During the Worlds entry fee payments process, you have been asked to remit your entry fee direct to the Wells Fargo bank in the United States. There have been a few queries arising as a result of members being asked to remit additional amounts on arrival in Barbados. The queries can be distilled down to two reasons;

1. A majority of entrants have been asked to pay an additional $12 to $16US in Barbados because the Wells Fargo Bank has deducted (in most cases) this from the remittance fee due to the Event Organisers. Most have followed the instruction that all fees should be payable by payer, but the banking system has not been capable of deducting Wells Fargo’s fees. This cannot be changed, and because your bank could not deduct this fee, you will be correctly asked for this in Barbados. The fee varies depending upon where you were when paying this.
2. Another deduction has been made on a number of payments. This has been investigated by the event organiser and relates to “intermediary” bank fees. This is a bank other than your bank and the Wells Fargo bank that is used by your bank to assist with transmitting the payment. We have confirmed both through the Wells Fargo Bank and through Lloyds Bank that it is common practice for an intermediary bank to be used to transmit funds in foreign currency transactions of this type, and that has happened for some of our members. The impact is the same as in (1) above, in that this fee has been deducted from the entry fee received by the Event Organiser. You will be also asked to pay this fee when arriving at the Barbados Registration.

What can you do now to get a refund?

One member has successfully challenged the intermediary bank fees referred to in (2) above on the basis that this was not mentioned by the bank when the payment was made, and the  has been refunded in full. Surprisingly, the fee payable to Wells Fargo has also been repaid. Our member says that if your bank failed to make you aware of its intention to use an intermediary bank you might have some success in securing a refund. This member is willing to help anyone with advice on how this repayment was secured. Please email admin@gp14.org if you would like to be put in touch.

It is worth noting that Data Protection rules prevent the GP14 Association from having details of transactions between members and the Event Organiser, and the Association cannot act on behalf of members for specific transactions. If there is money to pay in Barbados, you should have been advised already of the amount owing by the Event Treasurer.

Paul Bowmer
GP14 Association Treasurer
05/02/2016