UK bank has flagged a transaction. Name does not match

Support
1

I am currently going through mediation. I have a 1600+ day old account, and I am trading with a peer with a 20-day account. That is no issue but showing you the experience I have with bisq.

Never had an issue and after 2 attempts to transfer funds my online service has been blocked. The name does not match.

I tried to tip toe around the reason but ended up sounding really awkward. I didn’t want to dox myself or the btc seller.

Now, the UK bank said the name did not match. If you live in the UK, you know it is impossible to do anything with established banks without proper checks. The BTC seller name on bisq appears to not match the bank details. I challenged that, saying that KYC and AML laws in the UK make that hard to believe. You literally have to prove with passports, driving licence, utility bills – you name it – who you are. New online banks like Monese are more lax but still have decent checks.

Currently, on mediation and wanted to know what happens if the BTC seller says they do not have another account? What if the name is again blocked by a 2nd bank with which I have an account?

Do I get penalised? We all want our identity to not be revealed if at all possible, as that is the point of bisq along with permissionless transacting, but how can a mediator prove if the seller is who they say they are? I have actually sent monies to accounts that don’t match, but low denominations and taken a calculated risk. This is my first 4 figure transfer (half my mediocre month wages) and I think this may have triggered something. In hindsight, I had funded my fiat account from two sources before transferring to the seller in a matter of an hour, and wondered if that flagged anything. I don’t think it should, as both came from accounts that were under my name.

I am detailing things here a bit too much but wanted to show you a complete, genuine picture.

In a nutshell, the questions are:

  1. What if there is no secondary account to send fiat to the seller because they say they do not have one?
  2. What if the name or details still do not match after supplying a 2nd account?
  3. Why would a seller risk not supplying correct details if they sure up their BTC in escrow plus deposit and run it through arbitration?
  4. Can I force a transfer through if details match bisq details 100%, yet the bank says they don’t despite triple checking these details in bisq from the seller?

Many thanks

2

Every case will be slightly different, so I think it’s better to leave this in hands of the mediator. Try to get as many proof as possible about your payment attempts, and the reason why they’re not going through. I’ll try to reply to your questions, but it will be case dependant:

  1. Trade could be canceled with no penalties.
  2. Same as 1.
  3. Because of privacy, even if it’s clear that it’s not according to trading protocol. I suppose mediator will try to verify if the seller’s bank name and the name provided in their app matches, and if they don’t, they will be penalised.
  4. It will depend on bank. I had a bank telling me that names did not match and made me be 100% sure I wanted to send a transfer to… myself.
1 Like
3

Thank you, appreciate the response. Funny creatures banks! I think I am getting somewhere with both seller and mediator and taking this as learning. Hopefully closed by end of the week.