Not so 'swift'?

[universalcurrency]

Made a purchase from metalmarket today and the experience was like pulling teath, my bank wanted soo much detail.  Inside leg measurement, serial number off recipients forehead etc.....🤨

I was under the the impression that all I needed was an iban and sortcode equvilant, (cant remember the technical term).

Luckily for me I had the time to go down to the bank and make the necessary emails.

Anyone else had a bad experience with using swift and or personal bank red tape?

[Xander]

It may be a result of the banks being held more accountable over fraud regarding customers accounts.

[bluemoon]

Banks are increasingly authoritarian when you go through them to spend your own money. Everyone is a potential money launderer to them and so treat you like one.

[universalcurrency]

5 minutes ago, Xander said:

It may be a result of the banks being held more accountable over fraud regarding customers accounts.

Its possible, however does it matter whether you have the  branch address or not, so long as you have the bank name, reference, iban recipient payee etc...

I can understand your own bank wanting the recipients name/company and address, but the full local street address of a well known bank chain?

[Xander]

2 minutes ago, universalcurrency said:

Its possible, however does it matter whether you have the  branch address or not, so long as you have the bank name, reference, iban recipient payee etc...

I can understand your own bank wanting the recipients name/company and address, but the full local street address of a well known bank chain?

I know a few people who have had this experience. Banks are like bureaucracy, once they set rules there is no room for an individual to use discernment. Sadly banks are another facet of big brother. Whether we like it or not we're stuck with them for the foreseeable future.

[Finbinfin]

If it's millions or billions the rules seem to slacken

[greendragon]

i use to pop into my partners bank and put £30-£40 in, in cash, so she could pay a bill

got told i can no longer do this as paying money into someone else,s account is against bank rules. WTF?

we changed banks

 

[airmac]

Never had that problem with my bank here. All I ever need is the country and IBAN. Don't even care about recipients name. But for that they only accept cash payments anymore at they're central and accept no change whatsoever

[Pete]

If you watch the Netflix series OZARK all will become much clearer !!

[Augustus1]

never had a problem with coin purchases from Germany/ Spain via bank transfers, HOWVER buying watches for four figures was like being interrogated by the Spanish inquisition, and took two calls and three referrals to different / higher  level of security departments due to figure being requested, they asked the same security questions each time ?? ,  and then what was the watch , cost who was the seller , their details , in the end I lost it a bit and said I was not asking the bloody bank to buy it for me but I wanted to pay with my own money!!

dean.m

[universalcurrency]

2 hours ago, Augustus1 said:

never had a problem with coin purchases from Germany/ Spain via bank transfers, HOWVER buying watches for four figures was like being interrogated by the Spanish inquisition, and took two calls and three referrals to different / higher  level of security departments due to figure being requested, they asked the same security questions each time ?? ,  and then what was the watch , cost who was the seller , their details , in the end I lost it a bit and said I was not asking the bloody bank to buy it for me but I wanted to pay with my own money!!

dean.m

Makes you wonder what would happen if you bought a house sans mortgage....

[airmac]

12 hours ago, universalcurrency said:

Makes you wonder what would happen if you bought a house sans mortgage....

Probably get shot