Bank transfers

  • A bank transfer may not reach the recipient even if it has been correctly carried out and the money has been debited from the sender’s account.

    Under money laundering regulations, banks may block the transferred funds until they have checked the identity of each company or person involved in the transfer and they have obtained the documents that allow the link between the funds and the professional or business activity of the companies or persons involved to be confirmed. 

    Money laundering regulations also forbid banks from carrying out transactions with unidentified customers. In such cases, banks must inform customers what documents are required in order to certify the source of income or origin of the funds.

  • Instant payments are not just immediate, but can be made 24 hours a day, 7 days a week all year round, including weekends and bank holidays.

    Both national and international instant payments have been available since November 2017.

Did you find this information useful?