Onshore bank flagging transfers to offshore IBANs — normal?
Been slowly moving some operational funds for a new consulting venture into a Revolut Business account and then on to an IBAN I have with a boutique offshore bank. Nothing major, well within what I'd consider reasonable limits for a small business. My onshore bank, however, has started flagging nearly every transfer to Revolut, asking for source of funds and purpose each time, even when it's just moving money between my own accounts for cash management. Is this just the new normal with AML/KYC for transfers to any non-traditional banking solution, or is it specifically because Revolut's intermediate banks sometimes route through various EU countries before it hits the offshore IBAN, making it look 'suspicious' to my traditional onshore bank? Wondering if others have similar experiences moving funds, even personal, to offshore accounts or fintechs like Revolut that then go further afield.