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  • Recipient/Sender name with SEPA transfers on Joint Accounts

Hi everyone, sorry if this has been answered in Together before, I was unable to find a suitable post.

Question 1) When initiating a SEPA transfer out with a Joint Account as the source, will the name of the sender be my name (or the one of the Joint member initiating the transfer respectively) or a combination of both names?

Question 2) When receiving a SEPA transfer in to the Joint Account, which name should the recipient field contain? Can it be either name of a member of the Joint Account?

I do know that German banks sometimes refuse incoming transfers if the name doesn't match and I am in general intrigued by these questions. Thank you!

    @tobyx#95415 Question 1) When initiating a SEPA transfer out with a Joint Account as the source, will the name of the sender be my name (or the one of the Joint member initiating the transfer respectively) or a combination of both names?

    Depends on who makes the transfer, it will be the name of the person who initiated the transfer appended with a "CJ" suffix (Compte Joint, French for Joint Account) indicating that this concerns a Joint Account.

    @tobyx#95415 Question 2) When receiving a SEPA transfer in to the Joint Account, which name should the recipient field contain? Can it be either name of a member of the Joint Account?

    Either name should work fine.👍 It's the IBAN that's the most important part, the name does not really matter too much. 🙂

      @Sander#95422 Perfect answer. Thank you! Have a great day.

        @tobyx#95424 anytime! You too! 😁🌈

          3 months later

          This didn't turn out for me -- only one of our names seems to "match". I just tried transferring money from my ING account (using the ING app) to my Bunq joint account's IBAN. It worked fine with one of our names, but for the other name, ING gave me a warning that "This account does not belong to <my name>". I'm not completely sure of the implications of this and hoping there aren't many...

            @Daniel-Yellow-Penguin-2712375373#120761 Are you speaking about ING in the Netherlands? Then I think this is just this "feature": https://www.rabobank.com/en/press/search/2017/20170905_ibannaamcheck.html It's an initiative started by Rabobank but most other Dutch banks also participate. Basically they send each other the names of account holders so when you make a transfer the system will check if the name matches. However, bunq doesn't participate in this, because it values its user's privacy so no other bank can just get your name when having your account number. So what the other banks do is when they receive a payment from a bunq account, they will save that name in their database. So for your joint account, they probably don't know it's a joint account and just think that it belongs to <Name A>. So when you make a transfer from the ING app and you input <Name B>, it will show this warning. As of now, this doesn't really have any other implications. People can still make transfers just fine, just the warning will pop up sadly. And as many people don't know how this system works, the warnings might look scarier than they really are.

            I hope I explained this correctly, I'm not actually Dutch :p

              @Jakob#120826 Thanks for the explanation!!!

                @Jakob#120826

                Perfect explanation! 👊

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