NatWest Bank refusing to allow Bank Transfer for painting in Rome to dealer of +60yrs reputation

[antique hunter]

I recently visited Rome and wanted to purchase some paintings from a dealer who was the third generation in his family to continue the fine art business where he worked.

The business is a legitimate business

but as it is in Italy the dealer could not accept a cash deposit and did not accept credit cards and suggested I do a bank transfer when I got home to secure the paintings until the export license came through.

Natwest has been utterly obstructive and has point blankly refused to let me pay .

The money is not theirs to dictate how I spend it ,

this is absolutely disgusting.

I wondered if anyone else had problems with this useless bank .

[Ethel Street]

What reason did they give?

Permanently barring you from making the transfer or barring it while they investigate something?

How much money are we talking about?

[antique hunter]

They just did not like that we were putting a deposit down to secure some fine art, it was only 5000.00 Euros, but  they said that because the purchase did not fit the bank"s profile they had every right to stop our transaction.

I said that I knew the gentleman and that all was legitimate but they said "no" and not to ask again .

Have been a high spending customer with this bank for 30 years so they know my history .

I believe it is just youngsters who now control the banks dealings , there is no loyalty given to long standing customers- it is simply - computer says no - with no recourse as no local banks anymore and no one to complain to .

It is a very bad state of affairs and one of the reasons I am planning to remove my wealth and business to another country. 

[BazzaS]

Seems to me they are “damned if they do, damned if they don’t!"

Thus will have 'tripped' the alerts within The Banking Protocol

If they didn’t put a hold on the transaction and it was a fraud, the bank would be liable for the loss.

Best way forward? Explain you understand they are required to be cautious, and ask how you can reassure them it is a legitimate transaction and what they would need to continue it.

[antique hunter]

I did reassure them that this was a bonafide business, their response was , when I tried 3 times to process the transfer- ‘ Mr G - we have told you on 3 occasions that we do not want to go ahead with this and it is in our rights to do so , so goodbye! 
Banks are just staffed with people who do not know what they are doing most of the time , they are scared of having to pay out for fraud despite making billions of profit providing no service and employing no worthwhile staff. I have and regret not going to another agency to deal with my business ,  TorFX- which happened to be cheaper, better exchange rate and superb customer service . Natwest - you are a disgrace 

[BazzaS]

“I tried the same, 3 times” isn't the same as "I understand you are acting as per the Banking Protocol. Who do I need to speak to, and what information do they require, to reassure the bank regarding this transaction?"

One of the Banking Protocol "red flags" is the customer declining to engage with the process.