Hi guys

This is a question/possible warning post for those of us who use bank transfers for deposits

I regularly use standard bank transfers for deposits etc with clients
I have a few names in my full name so I tend to use the middle two or my working name for deposits depending on the situation.

I recently got a notification from Barclays saying they will be starting a checking service when you transfer to a new person, and that you’ll be able to check :/ you will need to know the full name of the persons account or won’t be able to transfer !

Has anyone got the same notification from other banks ? As Barclays say other banks may start doing the same.

V xx

I've not had the warnings but I have looked into this a lot, including listening to an interview on a fairly serious factual BBC radio programme. That programme made it clear this is more about the banks, and that there'll be an override button even if the names aren't exact. A lot of people and businesses use online transfers so I think not having the override could cause a lot of hassle for the banks.

Anyway the radio programme definitely put the banking representative on the spot and dispelled much of the rumour and other articles I'd seen. If it happens it happens, but there's so many other things in place such at OTP codes I don't think getting the exact name is going to be an issue.

I take deposits by bank transfer and have never had to give a client my real name. I'm with Halifax. A client may think they need your real name but you can put literally anything in the name/reference box and it still works as long as the sort code and account number is correct.

Maybe it depends on the bank but you can't do this with them all. Client just had his account suspended when he wasn't able to enter the first AND the last name. The surname was actually correct but insufficient.

I am with the Royal Bank of Scotland and I have one client who transfers by bank and he puts my name as ‘Golf’ and it goes through, however he has only done this 3 times and so I don’t know if I’ll keep letting him transfer by cash because I had lost my phone and on it I had the RBoS app and without it then I was having to check by telephoning the bank for a balance, this had its own issues because when I called them for a balance then they only gave me it once and said the reason being was because I had the app, I explained that I had lost my phone and this is why I was calling them, I ended up having to go to an ATM machine to check that I had been paid, it’s not a good feeling at all and I cannot relax without knowing if I’ve been paid.

Clients asking to transfer our payments is on the rise and personally I’m getting sick of it, I have lost count of the number of guys who were happy to book me until I said that they couldn’t transfer cash to me, it makes me think that they were going to scam me somehow, I also think they just want your real name, in their mind then they maybe think that all banks want the name of the account whose the cash is going into and so they think if they pay us by this way then they’ll get our names, I don’t see the point of us using fake names only to be found out when we give them our bank details, it’s like another form of them wanting to be in control.

Also, I cannot believe the palaver that goes with me simply wanting the available balance of my account, everywhere is I.D mad now! You even need to prove who you are to get a library card! It’s madness! *Sorry to go off topic*

So for example, I ask a client to put the date in the name section (which I do) and when he does, his Bank tells him my real name instead and asks him to confirm? I am with Halifax and accept transfers this way several times a week. So far, no client has mentioned anything to me, but it is nerve wracking. I keep thinking to ask one of them, but lose my nerve!
If they said yes, I would not be able to see them..
I know it's daft.. 

Not at the moment and I don't think the bank are allowed to tell anyone the name on the account.

Also came across this website also which you guys should check out

https://www.choose.co.uk/news/2019/bank-transfer-confirmation-of-payee-delayed/

I use a business account solely for deposits. That way they get the business name not my personal name. Problem solved.

I've just had one who messaged for a meet an hour away. Asked for bareback at extra (duh no) asked if I had any outfits. All set. Log on and he deletes his profile.

Fuming as I've just turned someone else down. Time to update my Q&A to 1st time meetings on booking form only. Thats 5 in a week.