Santander & a regular Incoming faster payment from USA keeps getting held for "extra checking "

[Lady_wise]

Hi new here. 

 

Appoligies in advance if this is the wrong place. 

 

So I have an issue with my bank.  I recieved a faster payment from a source that iv recieved payments from before Many times before without issue. 

 

Theve suddenly started withholding my funds with the excuse of its being withheld for extra security checks, its randomly done occasionally and by law we must do so. By law, ok, fair enough but this is now a trend, everytime I'm receiving money from The same source , unchanged always the same, they keep withholding the funds every time. Yet this is supose to be random. 

 

 

From previous, payments always credits after 24 hours, my gripe is that why are they constantly "extra checking" these payments when theve always been going in no issue or fine after there checks. Is there not a way they can mark future payments as fine to avoid all this nonsense.  

 

I hope iv explained this OK. Just very frustrated as I'd planned to take my autistic child out today now I can't, explaining this to him won't go down well. 

[BazzaS]

Are these international payments?

 

Could they be triggering an initial “anti-money laundering alert”? (That then isn’t felt needing to be followed up once the initial trigger gets looked at).

 

In terms of it preventing you going out with your child …. If it is part of a pattern, perhaps plan for that expectation, so then don’t rely on the funds the same day?

 

You can also ask the bank if they would consider you providing additional “Know Your Customer” (KYC) info regarding you and the source of the funds, to limit the risk of these delays?

Edited May 15, 2021 by BazzaS

[Lady_wise]

Hello and thank you for your reply. 

 

Yes these are payments from USA.

( twitch interactive. A fairly well known place. )

 

What is the KYO what would I say to them? 

 

The trouble is, some of these payments never get withheld but its been happening alot now, this would be the 6th one in a row to be held at seemingly random. It's incredibly frustrating, the woman on the phone said but u have £xyz in your account which I felt to be personal, I informed her that that money was due to come out for a food delivery on Monday. 

 

 

[BazzaS]

KYC : not KYO, and not an organisation.

 

it is information you provide the bank by which they “Know Your Customer”

[fkofilee]

Hi Lady Wise - Whos the bank?

 

 

[Lady_wise]

Hello   It's Santander. 

 

Sorry BazzaS was a typo

[fkofilee]

 

 

Satans Bank - Lets see here. International payments are a higher risk than payments in the UK as they need to be properly vetted.

Whats the amount if you dont mind me asking? KYC can be a bit funky. You could get around the issue I guess with something like Transferwise maybe? 

Dont know what the cost is to send money between accounts between banks and Transferwise? 

[honeybee13]

Transferwise, now called Wise, are cheaper than my bank for international transfers, fkoflee. There are quite a few other services available as well.

 

HB

[dx100uk]

i have heard of several UK Youtubers that earn a monthly wage from their online sites are now getting this happening too.

[fkofilee]

I figured it might be a better idea then between bank accounts - Likely itll also stop the KYC stuff happening

 

[Lady_wise]

The amount was small £70. 

 

I had this happen several times a bout a year ago. I had maybe 2 payments that went in without checks, then every payment after this has had the " we need to check it " rubbish applied, told me its random and doesn't always happen, they couldn't answer me when i said it was happening for every payment. I did switch to PayPal briefly but they charge me and i now have the infamous " weve limited your account for no reason crap"

[AndyOrch]

Have you not considered a PayPal Account...?