What I heard from my bank is that for inward wiretransfer I need to provide bank name, swift code, acct no and title. My question is, it is ok if someone ask for the additional information like branch adreess and phone and my home address and phone for the transfer? Will it involve any security risk? Or that info can be use for ilegal purpose?
I would not provide this information as it is not necessary for the financial transfer to occur. If someone asks for more information than that, it could very well be someone who is trying to scam you and your identity. Beyond that, I have been advised by my bank to set up and use a separate 'wire transfer' account (with no funds in it) instead of my regular business bank account because even just with the limited bank information that you must provide to the customer making a wire transfer, it is some times enough for a scammer to use to get into the bank account and empty it. Once the money has been transferred to the wire bank account, I then transfer it to my main account, thereby protecting its information.
requirements vary form bank to bank from where you are making transfer, some of them need also addresses of bank and of business to make transfer
same it sounds like its either going to be a scam or it could be for safety but i still wouldnt supply that info
All the receivers name, contact address and destination account must accompany the inward wire transfer. As as recipient of inward transfer, you have to sit and watch. You dont need to provide any information to bank or anybody. If somebody wants to send you a wire transfer, then asking for Bank Branch, Bank Address and bank phone is very common.