[Rapidray]

Hi all,

Looking to pay off the balance on my loan that was taken out when I purchased my car.

The problem I have is that the bank that BMW use i believe is in France (BNP Paribas).
Both Nationwide and Santander do not recognise the payee, and advise not to continue with transaction.

Talked to BMW about this, and they are aware of the problem.
They told me that there are other alternatives to paying by BACs, by phone is one of them, but then you are giving them your PIN.

Has anyone else come against this problem, and if so how did get around it.

Also tried paying the dealer who would in turn pay BMW, but their not interested.

[Soul_Glo]

Originally Posted by Rapidray

Hi all,

Looking to pay off the balance on my loan that was taken out when I purchased my car.

The problem I have is that the bank that BMW use i believe is in France (BNP Paribas).
Both Nationwide and Santander do not recognise the payee, and advise not to continue with transaction.

Talked to BMW about this, and they are aware of the problem.
They told me that there are other alternatives to paying by BACs, by phone is one of them, but then you are giving them your PIN.

Has anyone else come against this problem, and if so how did get around it.

Also tried paying the dealer who would in turn pay BMW, but their not interested.

When you say they don't recognize. Is that via your banking app/online banking site where it recommends not proceeding with the payment? I've had that in mine but when I went by account number it auto filled the correct details.

You can use CHAPS or even a bankers draft. The latter would involve you going into your branch.

The way I see it. It's quite simple. Obtain an official letter from BMW with the appropriate bank details. Verify these details by phone. Obtain a reference. Make a payment online.

Or use a credit card if you have one and then pay that off.

No one should ask you for your card pin at any stage and if they do then run a mile.

[newway]

Yea I've made partial early repayment to the account using hsbc app, had the same warning but i made the transfer and everything is fine.

Originally Posted by Rapidray

Hi all,

Looking to pay off the balance on my loan that was taken out when I purchased my car.

The problem I have is that the bank that BMW use i believe is in France (BNP Paribas).
Both Nationwide and Santander do not recognise the payee, and advise not to continue with transaction.

Talked to BMW about this, and they are aware of the problem.
They told me that there are other alternatives to paying by BACs, by phone is one of them, but then you are giving them your PIN.

Has anyone else come against this problem, and if so how did get around it.

Also tried paying the dealer who would in turn pay BMW, but their not interested.

[GEP77]

I settled my finance over the summer and had the same warning. Just makes you double and triple check the details. All went through fine.

[blaz]

Originally Posted by Soul_Glo

No one should ask you for your card pin at any stage and if they do then run a mile.

This!

[srbs73]

Originally Posted by newway

Yea I've made partial early repayment to the account using hsbc app, had the same warning but i made the transfer and everything is fine.

I had a scare the other week with First Direct. Was making a cryptocurrency trade for a reasonably large sum. I had the warning but knew the recipient company was good. I sent the money and they said they hadn’t received.

Phoned First Direct, they were adamant it had gone. Recipient said, ignore customer services and go to though to the fraud department.

Long story, but seems they can stop transactions, not inform you and they are not visible to even the fraud dep until after 2 hours. After the time elapsed I was able to verify it was legitimate and they released it.

It wasn’t a pleasant experience!