I am italian from my Fineco bank I try to make transfer but answer say that the BUNQ iban I gave is not valid
Fineco tells me my IBAN is invalid?
Heiko HartwigWizard
- Edited
Where have you got the bunq IBAN from? If it is from the app, your account etc. then please get in touch and ask Fineco what is wrong.
The IBAN from bunq app is always correct.
Just my 2 Cents.
Sam 🇳🇱🇬🇧Wizard
@francesco-Olive-Zebra#62047 Maybe Italian and Dutch IBANs (like bunq-IBANs) have a different format and your bank is only accepting the Italian format.
They should fix this on their part as Dutch IBANs comply with the agreed format of IBAN (as do Italian IBANs). Banks and other companies should accept all formats of (EEA) IBAN as obligatory by EU-regulations.
Jeroen 🏳️🌈Wizard
@francesco-Olive-Zebra#62047 @Samzoiets#62201 With some banks you need to select "transfers abroad" instead of "domestic transfer". Because the most common transfers are inside your own country and then only IBANs of their own country are accepted.
Sam 🇳🇱🇬🇧Wizard
@JeroenE#62203 That is an error in design as transactions within the EU are deemed to be domestic by EU-law.
They work from an old fashioned point of view where money crosses borders. The IBAN-input field should handle all IBAN-formats by default and should give a message when the IBAN is not within the EU (as extra fees may apply).
Jeroen 🏳️🌈Wizard
@Samzoiets#62206 I don't think the EU changes the language. Domestic and foreign are still valid terms. But you are right that they should accept all IBANs, even from foreign countries as long as that country is in the EEA.
As far as I know the EU regulation (the EU doesn't call it law themselves ;) ) doesn't state it must be in the same entry field on the same page in the app/website or whatever. So you can still have different pages. Some banks require you to first activate "international payments" on an account before you can transfer money to foreign IBANs and so on.
Transferring to a non SEPA IBAN doesn't have to be supported, I would say. Of course most banks do. Unfortunately I don't have an account in for example Kazachstan so I can't check. The bunq app accepts the sample IBAN from https://www.iban.com/structure but I don't actually want to try to send money there ;)
- Mr. UnderwoodAceCO2 Saver
I emailed one of my insurance companies my bunq account details Friday evening.
This morning they responded with:
You’ve moved? When?
I responded: NO
They responded:
IBAN is from the Netherlands. Please explain.
I responded:
Nothing to explain except that I’ll be closing my present bank account soon.
And sent them a copy of Article 9 Abs. 2 SEPA-Verordnung.
I’m waiting for the next response.
SamChamp
- Edited
@francesco-Olive-Zebra#62047 Hi Francesco I'm Italian too. Sometimes Italian banks (i.e. Unicredit does, Fineco is Unicredit group so it's likely they share the same IT base) have two different functions, one for Domestic SEPA transfer ("bonifico SEPA Italia") and one for European SEPA ("bonifico SEPA" o "bonifico SEPA Europa").
Sounds silly I know, and as correctly pointed out by someone it's a design error, as SEPA transfers are always to be deemed as domestic Europewide.
Just FYI, Banca Intesa and Poste Italiane both accept the Bunq IBAN and work like a charm.
Ciao