Banks to reveal names on account

[SteveWest]

Having saw on the news that banks will now share names on bank accounts with other banks, does this pose a threat to Stealth? I remember that if you tried to set up a direct debit mandate with PayPal you would get an email 3 days later saying it couldn’t be set up because your bank denied it (due to incorrect name) but PayPal would still let you withdraw to that bank with no issues. Could this be similar?

[rsot]

Originally Posted by SteveWest

Having saw on the news that banks will now share names on bank accounts with other banks, does this pose a threat to Stealth? I remember that if you tried to set up a direct debit mandate with PayPal you would get an email 3 days later saying it couldn’t be set up because your bank denied it (due to incorrect name) but PayPal would still let you withdraw to that bank with no issues. Could this be similar?

What is your source of this info? For UK banking? Banks have always shared limited info with the other bank when a transfer/wire transfer is done - it's standard policy.

[SteveWest]

Originally Posted by rsot

What is your source of this info? For UK banking? Banks have always shared limited info with the other bank when a transfer/wire transfer is done - it's standard policy.

Yes in uk banking

Here’s a link

https://www.finextra.com/newsarticle...-2020-deadline