Banks that accept incoming wire transfers with mismatched beneficiary name

[diatessaron]

Mismatched names will never work, you can add whatever you want at the address though, that seems to be working for SWIFT, personal accounts.

 

[Clank]

Mismatched names will never work, you can add whatever you want at the address though, that seems to be working for SWIFT, personal accounts.

It works with Mercury for example 6 figures payment.

 

[diatessaron]

It works with Mercury for example 6 figures payment.

It most likely works because it is taking the information from past payments. I used to work for a company that had that sort of mechanism in place. If we're talking about first time transfers then I have no idea how it works.

 

[Mister M]

I don't think this was ever the case on cross-border payments.

Again, please use DE-IBANs for receiving. They are known for consistently not checking the name and I can personally confirm this.

Which banks? A few years ago this was common in germany, but as of today, larger transaction with mismatched names almost always result in an account investigation or transfer return due to fraudulent abuse

 

[meir13]

When was the last time you've seen it in force? Would be interesting to know if it's still up.

It was long time ago. I have recent experience with mismatched beneficiary names. All worked oki in Czech Republic, France and Germany. Large bank the better.

 

[daniels27]

Which banks? A few years ago this was common in germany, but as of today, larger transaction with mismatched names almost always result in an account investigation or transfer return due to fraudulent abuse

Still working well with amounts under 50k.

 

[clemens]

Still working well with amounts under 50k.

Which banks +2 second that question

 

[daniels27]

DKB, Comdirect, HVB, Deutsche Bank

 

[expatasia]

WISE accept all names....you can write Donald Trump or whatever you want.....they don`t care, you just need a Business account....

 

[John M]

Interesting, I tried Wise and it instantly rejected the transfer and sent it back. Thought mismatched name was a common practice and there are no problems with it.

Depends of both banks. I am sending from time to time mismatched EUR payments from Revolut Business to Wise personal and every time they went through

 

[j1mesb0nd]

WISE accept all names....you can write Donald Trump or whatever you want.....they don`t care, you just need a Business account....

In my case they didn't, I have a business account.

Depends of both banks. I am sending from time to time mismatched EUR payments from Revolut Business to Wise personal and every time they went through

The sending bank doesn't really care, it's all about the receiving bank. They have the ultimate option to whether accept or reject the transfer. I got a Wise business account and it's a UK one. Maybe this work on US accounts only, no idea.

 

[scooterguy]

The trick is to have an LLC that looks like your name.

If your name is James Bond, name your LLC Jam Bon and it will go through.

 

[drumtraks]

Out of curiosity, what is the point of this exercise or applicable situations where one might benefit from it?

 

[John M]

Let’s say you have an invoice from a Company that doesn’t actually has a bank account and you need to have it paid by bank transfer (for accounting). You pay it to the personal account but with the name of the Company, therefore on the statement it will appear that the invoice was paid to the Company.

 

[IMEXMalta]

There are still some real banks in Europe which allow you to setup a "friendly name" as subaccount

 

[daniels27]

There are still some real banks in Europe which allow you to setup a "friendly name" as subaccount

You mean as the account owner? I guess not.

 

[clemens]

The trick is to have an LLC that looks like your name.

If your name is James Bond, name your LLC Jam Bon and it will go through.

That's cool, I would love to have a company with the name James Bond 007 LLC

 

[daniels27]

That's cool, I would love to have a company with the name James Bond 007 LLC

Just a couple of GBP and you have it.

 

[SCHLOSSFINANZ]

nearly all SEPA banks don't check if receivers name matching the sending instructions name,
by law they are also not obliged to do so. When SEPA instant is mandatory in 2025 it will be re-inforced tho.

 

[IMEXMalta]

You mean as the account owner? I guess not.

In a private bank account it's possible to create a friendly name account with some EU-banks including a different IBAN obviously.