Tranferwise

Old Nov 29th 2015, 9:36 pm
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Default Tranferwise

If you send your funds direct to TransferWise.....do they need to know the source bank account details? Obviously they have to know the destination account details, but the less personal info flying around the ether, the better.
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Old Nov 29th 2015, 10:20 pm
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Default Re: Tranferwise

As you pay by bank transfer or debit/credit card they will know the source of the funds.
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Old Nov 29th 2015, 10:45 pm
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Originally Posted by lansbury View Post
As you pay by bank transfer or debit/credit card they will know the source of the funds.
yes I guess thinking about this some more, they would see the sort code and bank account number. Not transferring monies nor having transfers to me apart from my paycheck I wasn't sure. But they would see the source. Thanks
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Old Nov 30th 2015, 2:37 pm
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Default Re: Tranferwise

You dont have to physically state them on the website but they'll obviously see them in the transaction. You'll get a unique number that you add to the transfer so they can marry up your payment to the transfer
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Old Nov 30th 2015, 6:21 pm
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Default Re: Tranferwise

Originally Posted by iceflow View Post
If you send your funds direct to TransferWise.....do they need to know the source bank account details? Obviously they have to know the destination account details, .....
If you stop to think about it, they "obviously" have to know where the money came from too, otherwise drug dealers and terrorists would have a field-day laundering their money and funding terrorist activities.

The only way to move money and have any chance of it being untraceable is to use physical cash, and there is a reason why it is getting harder and harder to deal in large quantities of cash without the government (of most countries) asking questions and generally making life difficult. Both the US and the UK have laws that enable law enforcement to arbitrarily seize cash and force the person(s) who owned it to go to court to prove that they obtained the funds legitimately and are entitled to get it back. I would be reasonably certain that the US and UK are not the only countries doing this.
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Old Nov 30th 2015, 10:13 pm
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Default Re: Tranferwise

Originally Posted by Pulaski View Post
If you stop to think about it, they "obviously" have to know where the money came from too, otherwise drug dealers and terrorists would have a field-day laundering their money and funding terrorist activities.

The only way to move money and have any chance of it being untraceable is to use physical cash, and there is a reason why it is getting harder and harder to deal in large quantities of cash without the government (of most countries) asking questions and generally making life difficult. Both the US and the UK have laws that enable law enforcement to arbitrarily seize cash and force the person(s) who owned it to go to court to prove that they obtained the funds legitimately and are entitled to get it back. I would be reasonably certain that the US and UK are not the only countries doing this.
yep, totally makes sense. Thanks for replying.
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Old Dec 2nd 2015, 8:10 pm
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Default Re: Tranferwise

Originally Posted by Pulaski View Post
If you stop to think about it, they "obviously" have to know where the money came from too, otherwise drug dealers and terrorists would have a field-day laundering their money and funding terrorist activities.

The only way to move money and have any chance of it being untraceable is to use physical cash, and there is a reason why it is getting harder and harder to deal in large quantities of cash without the government (of most countries) asking questions and generally making life difficult. Both the US and the UK have laws that enable law enforcement to arbitrarily seize cash and force the person(s) who owned it to go to court to prove that they obtained the funds legitimately and are entitled to get it back. I would be reasonably certain that the US and UK are not the only countries doing this.
Even bitcoins are traceable to an extent according to "Wake up to money" on the BBC
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