In these cases, Compliance is unable to approve the instruction even though it appears that the funds are being withdrawn to the account they were deposited from. In order to withdraw funds to a third party, you must submit a Third Party Withdrawal request to send the funds in the name of the third party.
Please Note
- We no longer permit clients from High-Risk Countries to withdraw funds to entities/companies in their name. Even if documentation of ownership is provided, such Third Party Withdrawals are no longer permitted. If your account does not present the option to select Send to another Person/Entity in the Bank/Institution Account Holder field, unfortunately, your account is not eligible to complete third party withdrawals.