If the required documents are not submitted to the bank, will the bank transfer be approved?

When encountering bank review, if the required information is not submitted, bank remittance is usually not approved.

Here are some specific reasons and results:

1.Compliance requirements:

• Laws and regulations: Banks must comply with national and international financial regulations, including Anti Money Laundering (AML) and Counter Terrorism Financing (CTF) regulations. Without submitting the required information, banks cannot complete the necessary compliance checks and therefore cannot approve remittances.

2.Risk management:

• Risk Control: Banks need to evaluate and control risks related to transactions. If necessary information is lacking, banks cannot fully assess risks and usually choose to refuse or suspend the processing of remittances.

3.Transaction confirmation:

• Identity verification: Banks need to verify the identities of the sender and recipient to ensure the legitimacy and security of the transaction. Without submitting the required identity verification materials, the bank cannot confirm the authenticity of the transaction and cannot approve the remittance.

4.Transaction details:

• Purpose and source of the transaction: Banks may need to understand the source and purpose of the funds to ensure that they are not used for illegal activities. Without submitting relevant information, the bank cannot verify the purpose and source of the transaction, and the remittance will be rejected.

5.Compliance department requirements:

• Compliance review: The bank’s compliance department may require additional information to complete the review process. If these materials are not submitted, the review process cannot be completed and the remittance will not be approved.

The result of not submitting the required information:

• Rejected remittance: The bank directly refuses to process the remittance request.
• Remittance delayed: Banks temporarily freeze or delay processing remittances until all required information is received.
• Account freeze: In some cases, if the bank suspects illegal activity, it may freeze the relevant account until the problem is resolved.

To ensure the smooth progress of the remittance, it is recommended to provide all the required information as soon as possible when the bank requests review materials. This not only helps to speed up the review process, but also ensures that the remittance arrives at the recipient’s account on time.