Correct IBAN, wrong name

JuicyJesus

Hominu wrote: »

Both banks would have to participate in that case as currently the name isn't even sent as part of the transaction.

That's not true. SWIFT messages include the beneficiary customer's name.

mgdavid

JuicyJesus wrote: »

That's not true. SWIFT messages include the beneficiary customer's name.

you may be correct (I have no knowledge either way) - assuming you are, can you say where and when the name check is done, and who by?

JuicyJesus

mgdavid wrote: »

you may be correct (I have no knowledge either way) - assuming you are, can you say where and when the name check is done, and who by?

That I don't know. It depends on the receiving customer's bank and how they process incoming SWIFTs. It really is impossible to say without being an employee of the bank concerned in their payment processing department.

EDIT: Just as proof that the name is included, see here: http://selnet.co.uk/download/MT103%20UBS.pdf Field 59 forces specification of a beneficiary name and (optionally) address as part of the SWIFT message.

boo_star

I have received many international transfers and whenever I get one RBS send me a letter detailing charges etc, it also includes the name. I have tested this and used variations of my name (first initial/surname, first name/surname, initials of first/ secondary names and surname etc) and every time the letter I receive exactly matches that given to the sender.

Clearly one payment method sends the name.

Both US and EU payments show this in my experience.

Goldiegirl

The small agency bank that I work for processes incoming Swift payments manually.

The beneficiary's name is checked against the account number - if it is incorrect, and there is no connection with the name that has been given, the payment would be returned.

Bigger banks probably deal with this type of thing on an automated basis, I don't know if they are able to check the name of the payee on every payment that is received.