Swift payments from Monzo to other accounts


I’ve read a few threads and seen Monzo’s current partnership with transferwise (with whom I actually already had an account) in app. I was going to use it, but I stumbled across an issue, which would also be good feedback for Monzo. Because of all the money laundering regulations in place these days, some of the firms you would be transferring money to will not accept payments from third party agents such as transfer wise. The monies must come from a bank account in the senders name. I am in fact suffering an issue at the moment where the firm will (because of regulations) not accept payment via ACH (US firm) either. So, I can only wire (SWIFT) the money, even to the sterling accounts in the UK.

It would be good if Monzo supported wiring funds directly, for this reason.

Anyone know if it is possible to send money from a Monzo account, to another account via their SWIFT code etc?


Not directly at the moment, no. That’s what the Transferwise integration was working around.

I assume using an integrated Transferwise transfer doesn’t show up differently at the other end to a standalone one since the money is technically coming directly from a bank account?

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I expect it WILL show differently. I imagine the money is coming from ‘transferwise’, not my named Monzo account and the recipient will see this. I have used Transferwise directly in the past for other things over the years. This financial organisation thought, specifically state that due to money laundering regulations, money will not be accepted from ‘third party transfer services’, only from a bank account in the senders name. I’m going to suggest that this will be an issue for many people using services like this, if the recipients apply the correct restrictions.

I have got some Sterling bank account details, so I could wire the money to them directly in GBP, if only I could send it using their swift details as they do not accept ACH payments.

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