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Flag words in banking

  • 10-09-2020 10:58am
    #1
    Effects
    Registered Users, Registered Users 2 Posts: 9,760 ✭✭✭


    I've just had a call from PTSB, who have flagged a payment transfer I've made, as I had the word 'bloom' in the reference. The money has left my account, but hasn't been deposited in the recipients account yet as a result.

    Can anyone explain why the term 'bloom' would be an issue?

    Never had this happen to me before, but I know someone who transferred money between two accounts, with the reference 'Iran holiday', because they were going on holiday to Iran. Bank of Ireland froze the transfer, and continued to delay all transfers from her account for a couple of years after this, until she got a solicitor involved in the matter.


Comments

  • #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,738 Mod ✭✭✭✭Henry Ford III


    Why not ask the bank?


  • #3
    Effects
    Registered Users, Registered Users 2 Posts: 9,760 ✭✭✭Effects


    Henry Ford III wrote: »
    Why not ask the bank?

    I did, the guy who called didn't know. It was flagged by Citibank, who handles their transfers.


  • #4
    Connavar
    Registered Users Posts: 849 ✭✭✭Connavar


    Effects wrote: »
    I've just had a call from PTSB, who have flagged a payment transfer I've made, as I had the word 'bloom' in the reference. The money has left my account, but hasn't been deposited in the recipients account yet as a result.

    Can anyone explain why the term 'bloom' would be an issue?

    Never had this happen to me before, but I know someone who transferred money between two accounts, with the reference 'Iran holiday', because they were going on holiday to Iran. Bank of Ireland froze the transfer, and continued to delay all transfers from her account for a couple of years after this, until she got a solicitor involved in the matter.


    A guess would be the fact it is related to plants and therefore possibly weed


  • #5
    Effects
    Registered Users, Registered Users 2 Posts: 9,760 ✭✭✭Effects


    That's a bit of a stretch surely. How do florists manage to get any banking done if that's the case.


  • #6
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,738 Mod ✭✭✭✭Henry Ford III


    "Boom" would have been worse presumably?


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  • #7
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,360 Mod ✭✭✭✭Jim2007


    Effects wrote: »
    That's a bit of a stretch surely. How do florists manage to get any banking done if that's the case.

    Because the systems are lot smarter than that.... all I can say on the subject.


  • #8
    Effects
    Registered Users, Registered Users 2 Posts: 9,760 ✭✭✭Effects


    Jim2007 wrote: »
    Because the systems are lot smarter than that.... all I can say on the subject.

    Yet not smart enough that they flag a transaction with the term 'bloom' in it?


  • #9
    Ohmeha
    Registered Users, Registered Users 2 Posts: 2,023 ✭✭✭Ohmeha


    Effects wrote: »
    I did, the guy who called didn't know. It was flagged by Citibank, who handles their transfers.
    Google 'OFAC sanctions', 'tipping off' and 'criminal justice act 2010', it's a minefield for banks. The banks are prohibited from disclosing to you the exact reason the reference on your payment is being reviewed by either themselves or an external bank


  • #10
    The J Stands for Jay
    Registered Users, Registered Users 2 Posts: 5,786 ✭✭✭The J Stands for Jay


    Connavar wrote: »
    A guess would be the fact it is related to plants and therefore possibly weed

    I was thinking poppies and heroin.


  • #11
    bilbot79
    Registered Users, Registered Users 2 Posts: 2,028 ✭✭✭bilbot79


    There could be someone on the OFAC sanctions list with a nickname or alias 'Bloom' which would cause an alert.


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