Paying money from business account - war and peace required - feel like a child

[Morenamesandpasswords]

I had to transfer £30K from my company account to a car dealership for a vehicle purchase.

Set up the payment - had to click three time on "Continue" on the page where it warned about fraud before it would continue.

Then, there was a series of 20 questions to ask along the lines of:

1. What am I buying
2. have I received the goods
3. Have I done the deal face to face
4. Am I sure
5. what are the goods
6. Am I really really really really sure

etc etc

In between each question was a splash page telling me that fraudsters are criminals and they are telling me how to answer the questions.......

I could only do 15K per day so I went through the whole rigmarole yesterday

After bracing myself for a repeat performance this morning, I tried to transfer the second tranche only to find it is making me wait 72 hours for my own protection before I can transfer the rest.

Supposed to be collecting the vehicle Friday so its going to be cutting it fine.

It really winds me up. Its my money. If I want to withdraw it and cut it up into confetti its my choice not theirs.

You can usually pay £30 to make a same day CHAPS payment for any amount. For my bank you just send them a private message with all the details when logged in online and they do the magic (did this recently for house purchase deposit)

Find a simpler way for the next time - banking can still be done by Bankers Draft.
I do agree though that assuming every transaction might be driven by fraud etc is good but bloody annoying when its your money - spare a thought for those who have lost life savings is my way to talk sensibly to the bank.

Call the bank! Have you done this yet? Everytime I've had to make a big purchase I call the bank beforehand to make them aware so they can preauthorise it and stop it from being automatically blocked. Give them a call.

I used to work in a call centre for a bank in the fraud department. I can 100% guarantee that the people who are saying this is all ridiculous, and I'm an adult, I don't need constant reminders would be the ones phoning up and blaming the bank when they send their savings to a fraudster.

Also, fraud on business accounts is a massive thing and is easier than on personal accounts with spoofed invoices and less oversight on accounts.

You'd be surprised how many directors misappropriate company funds for personal use so yabu. You maybe the sole shareholder but unless and until dividends are paid the money actually belongs to the company.

If you'd sent your money to someone else by mistake you'd be on here moaning that there weren't enough checks. Your OP sounds like it was a very strenuous task indeed! If you don't want to wait then go to a branch and pay them to do it.

Just call the bank - we had this when transferring 000sk for a house purchase, they lifted the limit temporarily on our account.
And YABU, those checks and limits are there to protect mistakes and the the vulnerable

Spot on. It's not ridiculous at all.

What is ridiculous is just how much the banks have ended up on the hook for the actions of their customers.

It's MY money, I'm not a child, don't treat me like an idiot blah blah blah.
That's what all the victims or fraudsters said and then they got scammed.

The government have now made it the banks problem to deal with when their idiotic customers hand over their money to fraudsters so now they have to show they have taken steps to prevent fraud and alert custoners to the types of scsms to avoid having to cover the cost of losses and these warnings etc are there to protect you as well as the bank.

Get over it, it's a minor inconvenience once in a while when you make large payments.