fineco bank

thawkes93 · 19 November 2019 at 1:56PM

Hi all

i opened an account with fineco bank a while back, and i had no problems at all with them,
until last tuesday i transfered £2500 and £500 from one of my other current accounts to my fineco bank account. till this day they are giving me the run about, the money i sent aint in my account, they keep on saying i need to wait to be contacted by 'the back office'
i have contacted my other bank they have given me the two payment ID code saying that both transfers went through. every time i call through to fineco bank they are just rude and not helpful at all.
i was wondering if there is any other way for me to go with this to get my money.

thank you!

[Deleted User] · 19 November 2019 at 2:42PM

Yes - wait for it to be processed.

thawkes93 · 19 November 2019 at 3:16PM

so it takes them over a week to process it? they have already told me the funds have been received. but thanks for your reply.

[Deleted User] · 19 November 2019 at 3:42PM

thawkes93 wrote: »

so it takes them over a week to process it?

Depending on how they have interpreted it, and any investigation, it may take considerable longer than that.

maxximus75 · 20 November 2019 at 12:47AM

You say that you opened an account a while back and have not done anything with it, until now?

"Out of character/pattern" transfers have been into your account and also one after an other.

This looks suspicious so what generally happens due to AML the banks put a hold on these transfers until they check where the money has come from etc and/or they need further clarification on this from yourself.

This investigation can take anywhere from a couple of days to a couple of months depending on the transactions are looked upon.

They generally will not give you much information until their invenstigation completes.

At this point, the funds will be deposited into your account or you will be asked for further information.

I know its a pain in the !!! but it's something that all banks must do.

ozner · 24 November 2019 at 12:07AM

I will soon need to move large sums of money from the sale of a flat abroad to my Fineco account, which is my only euro account left. Should I not do this then? Or would a payment from another Italian IBAN account into Fineco (which has an italian IBAN too) be faster?

Ben8282 · 24 November 2019 at 3:53AM

ozner wrote: »

I will soon need to move large sums of money from the sale of a flat abroad to my Fineco account, which is my only euro account left. Should I not do this then? Or would a payment from another Italian IBAN account into Fineco (which has an italian IBAN too) be faster?

Your only Euro account left? In the other thread you said that you have just opened it!
If you intend to move large sums of money ensure you have the necessary proof of origin of such funds before 'moving large sums' into a brand new just opened account.

ozner · 24 November 2019 at 10:21AM

Hi,
I will definitely have proof of origin, as I will have all the official papers issued by the notary resulting from the sale of my property abroad. Thanks for pointing that out.

I’ve explained the story in the other thread but essentially:
- old account I had for years: I’m being asked to close it ASAP as I no longer reside in Italy - the only alternative for non residents comes without home banking. So I needed an alternative.
- Fineco: I have just opened it since My current bank is closing my account. Hence this will be my only euro account left. Cannot think of other accounts in euros with an Italian IBAN that I can open as a non resident and while not physically in Italy.
- I could transfer the money to my hsbc euro account, but to move it out of there when I need to convert it to £, they charge quite a lot.

Any suggestions are welcome.

fineco bank

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