Hi there. I am new there and i wonder if this is OK. I did an offer for buying BTC and the trader who took a offer has in his “Acoount owner full name” only first name and only the first letter of his surrname. His payment account is 17 Days aged and his is not signed yet. Is it safe to sent him money per SEPA? Can i do something else? Thank you for an help
Hi! you could use the chat and ask the rest of the surname.
I’m not sure if SEPA accounts allow to use only the initial for the name, but I don’t think so. As you need to do a transfer to BTC seller’s account and you can’t verify if that’s the real data, I think that you should open mediation with ctrl+O and make a moderator verify that. Specially being an unsigned account, it makes sense to be careful.
the name field does not get checked in a SEPA transfer.
I do SEPA trades with initials since 3+ years. Never a problem.
If you distrust SEPA that much, how about a security layer in between ?
Try TransferWise. Non-reversible money transfers in under 10 sec.
As long as the name matches the bank it is ok.
For example a person with the name: Jane Alice Doe might have bank accounts in the following names:
- Jane Alice Doe
- Jane Doe
- Jane A Doe
- J A Doe
- Doe, JA
All of the above are fine if they match the formatting of the bank account.
European countries can format the name field differently from one another. There is no agreed standard.
to explain it, the name was in that format: Jane D.
which ist deffinetlly not a full name and i am not sure that the SEPA payment gonna go throught. Other question is, if this is conform with bisq rules.
If you are buying I would use the name they have provided.
Jane D does sound short but it is their account and they have provided that name.
For example they could have a business account set up as any name and they have chosen “Jane D”
Bisq rules are to use the same name as is shown on your bank.
Yes, can confirm
> the name field does not get checked in a SEPA transfer.
Why we need to provide it to strangers than? IBAN is enough.
I can always send to blank name money! or random letter/symbol. keeps your bank statement clean. and trade partner does not need know who you are but bisq asks for full name details
IBAN number give all infos needed by the bank.
In some banks those names fields are automatically completed when IBAN number are correct.
I don’t think that any bank interface has this field as optional. Using a “-” or an invented name as name would make your transaction very suspicious and open for chargebacks. What if buyer uses “John Smith”, seller thinks it’s an alias the buyer invented and buyer cancels the trade after seller confirmed because he clearly did a mistake as he didn’t want to send the transfer to the seller but to “John Smith”, which is a friend?
I agree you you are BTC seller, you need the BTC Buyer who sends the fiat via SEPA to have correct name. As you need to compare the name of your buyer.
Yes, to receive SEPA the name is not needed.
As a Taker you can freely choose between SEPA instant or SEPA if Seller is SEPA.
Same could be possible for Seller with noname Bankaccount. This would increase pseudonymously privacy much. You basically could sell BTC nameless. NoKYC
KYC is a more strict rule than just asking the name of your bank account.
Sellers should have still revealing their name, as it would be really strange for a bank to see that you don’t even know who you’re sending a bank transfer to.
Also, we don’t have a way to create different payment accounts only to sell and allowing to create nameless SEPA accounts would increase the amount of medation issues with buyers with no name displayed due to human error.
Banks apply their algorithm to sort out suspicious and possible fraudulent transfers. Therefore adding ‘Mickey Mouse’ as recipient is certainly not useful and counterproductive.
The reason that the “reason for payment” has been removed from Bisq was a way to remove an attribute that banks could possible misuse in their algorithms for filtering out unwanted transactions.
Therefore adding no name, an incomplete or wrong name in the account is a risk to add taint to the transaction.
I certainly would not proceed further in a such a trade.
wrong name in the transfer details is not recommended and prohibited. But sepa transfer with name:
would go through easy. ‘Mickey Mouse’ may not. The latter I did not try of course to not want to learn by the hard way.
Even if you put fake name in bisq sepa name, the IBAN have all infos names,adress and locations.
The only thing that this method does is to trigger a red flag on the bank side telling them to monitor that address for potential fraud business or other risk matter.
Yes, If you send a payment, the receiver will get all this info anyway.
I wrote this is info is not required to receive payment. So you can post a BTC sell offer for sepa without revealing your full name, be Pseudonymous to bisq BTC buyer.
I took an offer with wrong name in SEPA, contacted seller about it and its problem, its prohibited, trade is now stopped. I dont like much full name being revealed, its basicly KYC, I dont know why it is an obligation
The name of the bank you use is only shared with your trade peer and the mediator / arbitrator if required. Bisq does not centrally hold any information about the trades that occur.
To avoid using names you can trade with:
Cash (in person)
Cash (via mail)
US Postal order
Amazon eGift cards
These can all be anonymous.