Chase Bank - My bank says chase bank account details cannot be verified.

busybee1_2

Has anyone else had this? I bank with Nat west and have transferred some
money into the account  but have message from bank saying some details could not be verified and may be due to criminal activity 

Bigwheels1111

Keeping it simple, Everyone has that issue on first payment.
You have to over ride the payment.
There are 5-10 posts about it.
Its because they are not signed up to confirmation of payee.

Daliah

This has been covered many times in the Chase Bank discussion thread. It happens with all banks as Chase, like dozens of other financial institutions, are not presently part of the COP processing.

400ixl

COP is the confirmation of Payee system where the bank can look up the name associated with the account number. Some banks including Chase have not yet implemented the feature so does not pass the information back to the requesting bank.

Doesn't mean the account is not valid, just the name could not be verified.

Most people in this case are just sending a £1 transfer (once double checking the account details are correct). Once you have done that and the money has appeared in your Chase account (and you have saved the details for future payments) you are good to go for larger amounts.

Bigwheels1111

Just make sure if you want the 1.5% savings account, you click add on the  top right of the app and
select The 1.5% option.
As a few have opened 2 current accounts by mistake.

george4064

Same thing happens to everyone else. Chase are a recently launched bank and therefore havent yet signed up to the payment confirmation system.

Daliah

george4064 said:

Same thing happens to everyone else. Chase are a recently launched bank and therefore havent yet signed up to the payment confirmation system.

Nothing to do with how recently they launched - there are plenty of financial companies which have existed for years and they aren't part of COP, and may never become part of COP. Though Chase have announced their intention to join "soon".