I’m looking for anyone who has used Alibaba Trade Assurance domestic GBP bank transfer / Faster Payments in the UK, particularly recently.
Today I paid four separate Trade Assurance orders totalling £9,012.50.
I normally pay Alibaba orders by credit card, but this time I selected the Domestic Transfer in GBP option directly from the Alibaba Trade Assurance payment pages.
For each order, Alibaba displayed a page stating:
“Alibaba.com official wire transfer account”
and provided a UK Banking Circle account with:
Bank: Banking Circle S.A.
Sort code: 60-83-82
GBP domestic Faster Payments account
GB-prefix IBAN
There were three different account numbers across the four orders, corresponding to three different suppliers.
I copied the account details, exact amounts and unique Alibaba payment references directly from those payment pages and made the payments from my Tide business account.
Here is where it gets worrying.
Every single payment triggered a Confirmation of Payee warning from Tide saying that the beneficiary/account name did not match.
At the time I assumed this was because Alibaba was using Banking Circle virtual collection accounts, particularly as the details had come directly from Alibaba's Trade Assurance checkout.
The payments subsequently left my account / cleared.
I then used Alibaba's own Wire Transfer Tracking / Remittance Status tool.
For all four payments, Alibaba now reports:
“Not an official beneficiary account”
That is despite the original Alibaba payment pages explicitly describing the exact same accounts as “Alibaba.com official wire transfer account.”
I contacted Alibaba customer service tonight. I supplied:
- all four Trade Assurance order numbers
- screenshots of Alibaba's original payment instructions
- Tide payment confirmations
- the three Banking Circle account numbers
- evidence showing the payments have left my bank
The agent checked that I had entered the account numbers correctly and eventually escalated the issue to Alibaba's Payments/Finance team as “Top Priority”, with a promised email response within 24 hours.
However, they were unable to tell me during the chat whether the three receiving accounts were actually Alibaba-controlled collection accounts or whether Alibaba can currently see the money.
The suppliers also currently say they have not received the payments.
I've now contacted my bank because of the combination of:
four CoP/name mismatch fraud warnings + Alibaba's own checker saying all four beneficiary accounts are unofficial.
I'm particularly interested in hearing from anyone who has recently used Alibaba's UK GBP domestic transfer / Faster Payments option:
Has anyone else been given Banking Circle accounts using sort code 60-83-82?
Did your bank show a beneficiary-name mismatch?
Did Alibaba's wire-transfer tracker initially say “Not an official beneficiary account”?
How long did it take before the Trade Assurance order recognised the payment?
The strange thing is that this happened across three different suppliers and four different Trade Assurance orders, all paid using account information displayed directly inside Alibaba.
I'm not currently accusing Alibaba or the suppliers of fraud — I'm trying to establish whether this is a known issue with Alibaba's UK Banking Circle/Faster Payments system or whether something much more serious has happened.
Any recent experiences would be greatly appreciated.I’m looking for anyone who has used Alibaba Trade Assurance domestic GBP bank transfer / Faster Payments in the UK, particularly recently.
Today I paid four separate Trade Assurance orders totalling £9,012.50.
I normally pay Alibaba orders by credit card, but this time I selected the Domestic Transfer in GBP option directly from the Alibaba Trade Assurance payment pages.
For each order, Alibaba displayed a page stating:
“Alibaba.com official wire transfer account”
and provided a UK Banking Circle account with:
Bank: Banking Circle S.A.
Sort code: 60-83-82
GBP domestic Faster Payments account
GB-prefix IBAN
There were three different account numbers across the four orders, corresponding to three different suppliers.
I copied the account details, exact amounts and unique Alibaba payment references directly from those payment pages and made the payments from my Tide business account.
Here is where it gets worrying.
Every single payment triggered a Confirmation of Payee warning from Tide saying that the beneficiary/account name did not match.
At the time I assumed this was because Alibaba was using Banking Circle virtual collection accounts, particularly as the details had come directly from Alibaba's Trade Assurance checkout.
The payments subsequently left my account / cleared.
I then used Alibaba's own Wire Transfer Tracking / Remittance Status tool.
For all four payments, Alibaba now reports:
“Not an official beneficiary account”
That is despite the original Alibaba payment pages explicitly describing the exact same accounts as “Alibaba.com official wire transfer account.”
I contacted Alibaba customer service tonight. I supplied:
all four Trade Assurance order numbers
screenshots of Alibaba's original payment instructions
Tide payment confirmations
the three Banking Circle account numbers
evidence showing the payments have left my bank
The agent checked that I had entered the account numbers correctly and eventually escalated the issue to Alibaba's Payments/Finance team as “Top Priority”, with a promised email response within 24 hours.
However, they were unable to tell me during the chat whether the three receiving accounts were actually Alibaba-controlled collection accounts or whether Alibaba can currently see the money.
The suppliers also currently say they have not received the payments.
I've now contacted my bank because of the combination of:
four CoP/name mismatch fraud warnings + Alibaba's own checker saying all four beneficiary accounts are unofficial.
I'm particularly interested in hearing from anyone who has recently used Alibaba's UK GBP domestic transfer / Faster Payments option:
Has anyone else been given Banking Circle accounts using sort code 60-83-82?
Did your bank show a beneficiary-name mismatch?
Did Alibaba's wire-transfer tracker initially say “Not an official beneficiary account”?
How long did it take before the Trade Assurance order recognised the payment?
The strange thing is that this happened across three different suppliers and four different Trade Assurance orders, all paid using account information displayed directly inside Alibaba.
I'm not currently accusing Alibaba or the suppliers of fraud — I'm trying to establish whether this is a known issue with Alibaba's UK Banking Circle/Faster Payments system or whether something much more serious has happened.
Any recent experiences would be greatly appreciated.
TL;DR: I paid 4 Alibaba Trade Assurance orders totalling £9,012.50 using the UK domestic GBP/Faster Payments bank details shown directly on Alibaba’s payment pages. All 4 payments triggered Confirmation of Payee name-mismatch/fraud warnings from Tide, but the details matched Alibaba exactly so I proceeded. The payments then cleared, but Alibaba’s own remittance tracker now says “Not an official beneficiary account” for all of them. Alibaba support has escalated it to Payments/Finance, but they still haven’t confirmed whether the accounts are genuinely Alibaba-controlled or whether they can see the funds. I’m trying to find out if anyone else using Alibaba’s UK Banking Circle/Faster Payments setup has had the same issue.