"Funds Transfer Credit Advice"... Info needed

SwedenRed

I need some advice regarding the "Funds Transfer - Credit Advice" slip I receive in the post after someone (Company A) has transferred some money into my account...
I regularly receive payments from Company A to my Bank account.
On the "Credit Advice" of my Bank, it states the following...
FROM... Gives a name of a Bank in My Country
FOR ACCOUNT OF... Gives my name
BY ORDER OF... Company A, with address.

Question is... It probably goes through my Country because the amount is in my Countrys currency. Does the bank here know who have orderred the transfer? And how easily available is this info to the Authorities?

Probably difficult to digest, but I really need to know. Thanks in advance.

dmg24

Doesn't make a lot of sense, but from what I can work out:

Yes, the bank will know where the money originated.

Yes, should they need to, UK authorities will be able to find out where the money originated.

SwedenRed

dmg24 wrote: »

Doesn't make a lot of sense, but from what I can work out:

Yes, the bank will know where the money originated.

Yes, should they need to, UK authorities will be able to find out where the money originated.

Thanks for the prompt reply, I will try to clarify it better... (without giving too much away :rolleyes: )

The money gets sent from a Company in CountryA, and sends it to me in my account (lets say Barclays) in CountryA. But because it is in another currency, it goes through CountryB, which is that Countrys' currency Bank. For example... if the currency was USD, it goes through NY. But the question is...Would the authorities of Country B know from which Company it came from, or would it simply see Barclays as the sender?

dmg24

SwedenRed wrote: »

Thanks for the prompt reply, I will try to clarify it better... (without giving too much away :rolleyes: )

The money gets sent from a Company in CountryA, and sends it to me in my account (lets say Barclays) in CountryA. But because it is in another currency, it goes through CountryB, which is that Countrys' currency Bank. For example... if the currency was USD, it goes through NY. But the question is...Would the authorities of Country B know from which Company it came from, or would it simply see Barclays as the sender?

Now that doesn't makes sense - why would a company in country A send money to an account in the same country, in a different currency?

Nonetheless, any money that goes into your account would have an audit trail, and the regulatory authorities would be able to gain access to this information should this wish to.

SwedenRed

dmg24 wrote: »

Now that doesn't makes sense - why would a company in country A send money to an account in the same country, in a different currency?

Nonetheless, any money that goes into your account would have an audit trail, and the regulatory authorities would be able to gain access to this information should this wish to.

Its possible to have a USD or EUR account in the UK... that is what I mean.

dmg24

I do think that you are overcomplicating things, nonetheless the above advice still stands.