Hello,
I have noticed that lately, some EMI want you to send supporting documents to explain incoming transfers and it is annoying.
For instance, I have a Paysera personal account and they asked me to provide supporting document for an 1800 euros incoming transfer from a UK business. The incoming transfer is on hold. 1800 euros is a small amount. Is it related to the face that Paysera has its license in Lithuania?
I also have a personal account at icard.com (license in Bulgaria). Last year in September, I cashed in around 3500 euros from a p2P lending company called Swaper OU and Icard didn't ask me to justify my incoming SEPA transfer.
The EMI don't communicate about their AML/KYC rules. Which ones are the least annoying for personal account?
Amount is only one of many factors that determine whether a transaction is flagged for review. There's an almost infinite number of other factors that can influence whether a transaction gets held for review, including just pure randomness.
For example, you can have an incoming 1 EUR transaction held for review if the sender's name happens to match the name of someone on a sanctions or PEP list. Or maybe there is a check once you hit 10,000 EUR and you're at 9,999 EUR. Then that 1 EUR transaction will be held for review.
It's easier to just accept this reality and have all your documents in order at all times.
