Onshore bank flagging offshore transfers – anyone else seeing this?

asked by u/james69 · 5d · 3 answers

Hey everyone, I'm fairly new to the offshore banking world, just opened an account with a reputable institution in Panama for some legitimate wealth diversification. Everything's above board, full disclosure to my home country's tax authority. However, my domestic bank (a major US player) is now holding transfers to my offshore account for what they're calling "enhanced due diligence" checks, even for amounts that are well within typical limits. It's causing delays and extra paperwork. Is this just standard procedure nowadays for all outbound international transfers, or is there something specific I might be overlooking regarding how to set up the originating transfer to make it smoother? Curious if others have found ways to streamline this process, perhaps by pre-notifying their onshore bank or using specific transfer methods.

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Top answers

  • u/nour.arslan· 1 pts· 5d

    Yeah, this isn't uncommon at all, especially with US banks and any offshore transfers. They're just being extra cautious to cover themselves with all the regulations. How long have they been holding them for?

  • u/korn_saetang· 1 pts· 5d

    ก็ปกติไม่ใช่เหรอ แบงก์ในประเทศเขาต้องตรวจสอบแหล่งที่มาของเงินอยู่แล้ว ยิ่งปลายทางเป็น offshore เขาก็ต้องเข้มงวดเป็นพิเศษ

  • u/rossi_eva· -1 pts· 5d

    Yeah, that's pretty common for initial transfers to new offshore accounts, especially with US banks. They tend to be extra cautious. Did they give you any timeline for how long their 'enhanced due diligence' usually takes?

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