Your funds for the Austrian property purchase have arrived in the account. Before the planned purchase price payment, the bank requests further information about the source. Perhaps the funds partly come from a family payment or a recently completed sale. You now need a traceable link between the economic source, the actual movement of funds and their use for the purchase.
This article deals with the enquiry of an Austrian financial institution. It does not examine a suspicious activity report, any specific payment release or any special legal or notarial duties of care.
Have the specific query named
Our editorial recommendation: Clarify via the reliably known bank contact which transaction is meant and which information is still missing. Is it about the immediate account receipt, its economic source or a contradiction between the information on file? Secure the actual request before you collect various documents without connection.
The FMA explains why financial institutions must be able to plausibly trace the origin and may require appropriate evidence for this. Such an examination does not already constitute a general suspicion against you. [FMA] A blanket declaration that the money was earned honestly, however, does not automatically answer the specific question about the documents.
Link source and payment route with actual documents
Assign the amount to its real basis. For an own sale, the relevant agreement and the associated payment receipt belong together factually. For support by other persons, truthfully describe what was agreed and who actually paid. A final transfer of ownership, a loan and acting on behalf of another person are not exchanged according to the desired label.
§ 6 Absatz 1 Ziffer 4 FM-GwG regulates the obtaining and verification of information on the origin of funds used. The scope of the due diligence obligations is to be determined in a risk-oriented manner according to Absatz 5. [SORGFALT] The guide therefore does not set a universal list of documents that every bank would have to recognise as sufficient in every case.
Address gaps purposefully and without inventing substitute evidence
If there is a missing link, have explained which specific additional information is needed and how it can be reliably provided. If documents of another person are involved, the actual method of proof must be clarified with the entitled parties. Do not invent an explanation for someone else’s source of wealth that you do not know.
The FMA cites, by way of example, existing economic evidence and explains possible consequences of required information not being provided. [FMA] No already decided account freeze or report in your case is derived from this here. What remains decisive is the actionable actual request, not a conjecture about internal decisions.
Update the purchase timetable with the confirmed payment status
Have it explained which step is actually still outstanding. Inform the appropriate processing office factually if the purchase price payment cannot yet be executed as planned. Do not share extensive personal source-of-funds documents indiscriminately with all parties involved.
An existing account balance is not equated with confirmed execution in your overview. Ongoing monitoring and updating as required by law are also part of the framework of § 6. [SORGFALT] The article does not promise a fixed review duration and recommends no alternative payment route to circumvent an open enquiry.
Hypothetical case: A family transfer does not explain the whole outstanding question
A buyer receives money from a relative at short notice. She initially only presents the receipt. However, the bank asks about the economic background of the funds provided. The buyer therefore clarifies the concrete further evidential needs with the bank and the relative, instead of formulating a source story herself.
She tracks receipt, feedback and actual execution status separately. Her family agreement and its financial consequences remain additionally to be examined. The case does not confirm acceptance of the documents. It shows how the specific source enquiry is processed in time, before a merely expected money transfer is treated as a completed purchase price payment in the acquisition process.