Chase wants too many details to set up a payment.

I have been a very happy customer with Chase bank but when i tried to pay back some money to a friend yesterday, the payment was not authorised and the bank says i must give my friends full name, address and date of birth for it to be authorised. I am not prepared to do that so they have cancelled the payment.  Chase say it is a random check for BACS payments.  Has anyone else had this problem?  It is Chase being awkward or is it all banks that do this.
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  • molerat
    molerat Posts: 31,551
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    In a way it is Chase being awkward but considering they are on the hook if you are being scammed can you really blame them.
  • la531983
    la531983 Posts: 1,667
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    edited 24 September 2023 at 9:24AM
    It seems odd. 

    Do Chase have access to the personal details of people who don't bank with them to actually verify this info?

    Or would they actually run a credit check on them? 
  • xylophone
    xylophone Posts: 43,846
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    I have never  known  being required  to supply such details when making a payment from accounts with Santander, Barclays, Natwest, Lloyds......

    And why BACS anyway?

    One of the quirks of CHASE?
  • I'm sure there's been another thread posted on here on this same scenario; can't remember which bank it concerned.
  • wmb194
    wmb194 Posts: 3,111
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    I'm sure there's been another thread posted on here on this same scenario; can't remember which bank it concerned.
    I remember there was was Kroo but that was in relation to a deposit from someone.

    https://forums.moneysavingexpert.com/discussion/6442502/bank-asking-dodgy-questions/p1
  • Futuristic
    Futuristic Posts: 1,116
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    As much as I love Chase and use it for transferring between my own saving accounts etc this is asking for too much even though I get it. Seems all the newer and even likes of Monzo etc. fintech banks struggling with fraud. 
  • I even rang them and said I had known this friend for many years. It was not a scam but they said they could not do the transfer without the details.  Chase were saying it was the banking system; not them.  But i have never known it before.  Luckily i could pay with another bank account but if it happens again, i will have to reconsider using Chase, even though i do like banking with them.

  • sheramber
    sheramber Posts: 18,633
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    Did you asl how the ;computer system' would check ths information given was accurate?
  • Pure speculation, but the only way I can think that this extra information could be verified/used is if the request was initiated by PayUK (who run Faster Payments & BACS). They would then ask for this information from the payee and verify a match before the payment was finalised.

    Why? No idea. Random audit requirement? Dodgy geezer flag? KYC's Friend? 

  • eskbanker
    eskbanker Posts: 29,858
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    Pure speculation, but the only way I can think that this extra information could be verified/used is if the request was initiated by PayUK (who run Faster Payments & BACS). They would then ask for this information from the payee and verify a match before the payment was finalised.
    I don't believe that PayUK can/do intervene in the middle of transactions like that, as their role (in this context) is effectively that of a routing engine, simply relaying data from one institution to another, i.e. validating customer information isn't within their remit or even capability.
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