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SEPA Name Check issue
 

Amazon sent a legitimate payout to my IBAN, but after the SEPA name-check rollout the bank said amazon is asking to return the funds I suspect that its because of name mismatch(company name matches, owner name doesn’t).

The bank asked me to approve a return of the funds, even though the payment is clearly from Amazon.

Has anyone had Amazon EUROPE payouts returned because of SEPA name checks?
Any issues later with the bank or Amazon?

Appreciate any real experiences. IS IT THE END FOR EUROPEAN SELLERS?

Re: SEPA Name Check issue
 

Hold on, so You disbursed from Amazon and the funds cleared.

But now Amazon is asking you to return the funds?
I'd pull that money out of your bank right away if that's the case and AZ can seriously F themselves.

LOL no.... it's really almost never the end. We have this question asked by doom and gloomers every month

Re: SEPA Name Check issue
 

Yeah I said no of course, will see how amazon will react to that.

Re: SEPA Name Check issue
 

Did you link a credit card to your account?

Re: SEPA Name Check issue
 

What does a credit card have to do with that?

Re: SEPA Name Check issue
 

Why does AMZN want the money back?

Re: SEPA Name Check issue
 

Because the sepa payment shows that the name does not match with whats on amazon vs bank

Re: SEPA Name Check issue
 

This is quite odd given the nature of stealth and banks accepting deposits in different names...

Just to be clear, you don't have pending returns or negative balance?

Re: SEPA Name Check issue
 

No negative balance. Its a new EU law. Came out recently.
Maybe the workaround are the UK bank accounts?

Re: SEPA Name Check issue
 

Ah k EU law I am not familiar with.

Re: SEPA Name Check issue
 

I know US banks would not accept endorsed checks,so depositing payment not in the name of the account holder is like accepting an endorsed check.
These days a thief would steal a check and wash it-name and $$ amount.

Re: SEPA Name Check issue
 

for USA accounts I haven't seen the name issue yet.

Perhaps it's a UK and europe thing?

Re: SEPA Name Check issue
 

Its a new Europe thing.
https://i.ibb.co/VcxsJk2Y/Screenshot...-15-062101.png

Re: SEPA Name Check issue
 

Just as a side note, the particular US banks I have been dealing with, haven't had an issue with accepting endorsed checks in a different name.

But I do have strong relationships with them and have not had credit issues, chargebacks or other account problems.

Re: SEPA Name Check issue
 

EU sounds like a total pain for doing anything it seems.......

I wonder how EU guys manage to make their accounts, banks etc