Altery

[Sols]

These are crazy. Three days have always asked for new documents. After long discus (why I don't have a real job) account was blocked and deleted. I couldn't even transfer EUR 10

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These all look completely standard nowadays, unfortunately. You can thank the government for passing laws that force banks/financial institutions to behave like this. If you can't explain every cent, you are presumed to be a tax evader laundering money.

 

[JohnnyDoe]

I entered 2 payments, one of 178 Eur to a vendor in Italy and one of 10,000 Eur to myself in France. Both payments blocked for “review”:

 

[Martin Everson]

Depositing 100k likely puts you outside their model client activity and into a high risk client bracket.

That EMI sounds unworkable if a first party wire and a small third-party wire are being held up. I would think carefully about continuing to use them if you have alternatives.

 

[JohnnyDoe]

They executed both payments today.

 

[cherry]

Testing your money in a UK based financial institution is like putting your hand in a fire and testing if the fire will burn you.

 

[JohnnyDoe]

Testing your money in a UK based financial institution is like putting your hand in a fire and testing if the fire will burn you.

Same as with any other bank in any country.

 

[Forester]

Testing your money in a UK based financial institution is like putting your hand in a fire and testing if the fire will burn you.

Why? Could you elaborate more on that?

 

[cherry]

Why? Could you elaborate more on that?

Not sure where to start because it's such a mountain. They have a body called the FCA - the Financial Conduct Authority, which has massive overreach controlling financial activities of both individuals and businesses. Among other things, they mandate banks to do manual checks for anything that looks "suspicious" must be investigated - as JohnnyDoe is experiencing. That's just the tip of the iceberg. If you try taking out more than 2000 in cash, banks are obligated to ask interogative questions about why you need it, and ultimately refuse to let you have your money, like this guy:

https://twitter.com/x/status/1808120724197953885

The latest push in the UK is to allow governments to actively watch everybody's bank statements in the UK:

https://twitter.com/x/status/1886469024047096076

I made a simple eBay transaction the other day with a new card, and the bank sent an automated call asking me to confirm my payment with their fraud department.

 

[JohnnyDoe]

Not sure where to start because it's such a mountain. They have a body called the FCA - the Financial Conduct Authority, which has massive overreach controlling financial activities of both individuals and businesses. Among other things, they mandate banks to do manual checks for anything that looks "suspicious" must be investigated - as JohnnyDoe is experiencing. That's just the tip of the iceberg. If you try taking out more than 2000 in cash, banks are obligated to ask interogative questions about why you need it, and ultimately refuse to let you have your money, like this guy:

https://twitter.com/x/status/1808120724197953885

The latest push in the UK is to allow governments to actively watch everybody's bank statements in the UK:

https://twitter.com/x/status/1886469024047096076

I made a simple eBay transaction the other day with a new card, and the bank sent an automated call asking me to confirm my payment with their fraud department.

All true, but non UK citizens/residents have a slightly easier life.
Unfortunately what you describe is common practice all over Europe and things will only become worse.

 

[Forester]

Unfortunately what you describe is common practice all over Europe and things will only become worse.

You are right, unfortunately.
This was a background of my question above. Yes, there are some differences between countries; yet as far as I can see, what FCA does is not exceptional – on the contrary.

 

[russelw65]

I am not sure if the FCA is easier or worse than any other 'regulator'.

I was about to sign up to Altery....! However, if I am a UK citizen, but EU resident, is using Altery a bad idea? Let me hear your opinions.