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INCREDIBLY STUPID COUNSEL FROM GURU

Skybear

By Skybear,
in Dinar Rumors

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Skybear Newbie

Skybear

Posted
Posted

The following incredibly wrong "wise counsel" was given by one GURU, Bulldog75, to a questioner about wiring of funds into her bank account is ASTONISHINGLY wrong! This may explain SOME of the reasons these GURU's have also been so HORRIBLY WRONG about all their many announcements concerning the dinar.

She asks about the wisdom of opening a second non-interest account (called a "Transactional Account"), so as to TRANSFER funds from initial ARRIVING account into a parallel account, which is is a VERY GOOD IDEA. . .

HOWEVER. . .

NOBODY can do so until AFTER it has REMAINED in the initial ARRIVAL account for 24-HOURS!!! This period is designed by banks to allow for "ADMINISTRATIVE" and "ACCOUNTING CORRECTIONS" and "Reverse-Transfers" should they be "deemed" necessary. This is true EVEN IF the wired funds come from a different branch of the SAME BANK!

The other method of transfer from a DIFFERENT person's personal or business account at a different branch of your same bank to YOUR account at YOUR branch is called a "BOOK TRANSFER". A transfer from ONE of your accounts to another of your own accounts is called a "ledger" Transfer.

But the Fed doesn't get ANY notification immediately of ANY of these save for a Fed Wire Transfer. They know and have an instant "paper-trail" that you got $XXX amount and WHERE it came from. It might be awhile before they got wind of a BOOK TRANSFER! THAT is why Ali and the other Currency Exchange services are being REQUIRED to use a Fed. Wire instead of a BOOK TRANSFER, even if their account is at the SAME BANK as you!

ONLY a "BOOK TRANSFER" or a "ledger TRANSFER" is available immediately to a person. Any "Fed Wire Transfer" will require the funds SIT untouched for 24 hours in the receiving account as a "PENDING DEPOSIT." This allows for any "supposed mistakes" to be "corrected" and a REVERSE TRANSFER to be allowed.

NO WIRED funds can be accessed immediately and transferred into another account! 24-HOURS. . .Like it or NOT! This is why you CANNOT IMMEDIATELY move the funds to another account.

This "wise" counsel was so bad IT HURT to read it. ANY person receiving funds or EXPECTING to receive funds should CHECK with your bank to get THEM to disclose Bank Policy as regards access to funds.

------------------------------------------------------------

Paintgirl to Bulldog75: I have a question...i opened my non-interest bearing accts. a while back...should a 2nd non-interest account be open at the same bank in the event that there will be $$$ wired into one account & for security reasons we dump the $$$ from the acct w/the wire into the 2nd acct. or can we open the 2nd acct the day the $ gets wired to the !st acct. my banker said we could open the 2nd acct on cash in day...what do you suggest?

Bulldog75: PAINTGIRL ANSWER: I WOULD HAVE 2ND NON INT ACCT ALREADY SET UP. SAVES TIME, DELAYS, MISTAKES. ONCE WIRE COMES IN ON THE FIRST ACCT AND YOU HAVE RECEIPT. MOVE IT TO 2ND ACCT. ; THAT WAY THE WIRING BANK NO LONGER HAS YOUR ACCT # AND THEIR CAN BE NO MISTAKES TO HIT YOUR 2ND ACCT. !!!!

--------------------------------------------

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Riverdawg Newbie

Riverdawg

Posted
Posted

The following incredibly wrong "wise counsel" was given by one GURU, Bulldog75, to a questioner about wiring of funds into her bank account is ASTONISHINGLY wrong! This may explain SOME of the reasons these GURU's have also been so HORRIBLY WRONG about all their many announcements concerning the dinar.

She asks about the wisdom of opening a second non-interest account (called a "Transactional Account"), so as to TRANSFER funds from initial ARRIVING account into a parallel account, which is is a VERY GOOD IDEA. . .

HOWEVER. . .

NOBODY can do so until AFTER it has REMAINED in the initial ARRIVAL account for 24-HOURS!!! This period is designed by banks to allow for "ADMINISTRATIVE" and "ACCOUNTING CORRECTIONS" and "Reverse-Transfers" should they be "deemed" necessary. This is true EVEN IF the wired funds come from a different branch of the SAME BANK!

The other method of transfer from a DIFFERENT person's personal or business account at a different branch of your same bank to YOUR account at YOUR branch is called a "BOOK TRANSFER". A transfer from ONE of your accounts to another of your own accounts is called a "ledger" Transfer.

But the Fed doesn't get ANY notification immediately of ANY of these save for a Fed Wire Transfer. They know and have an instant "paper-trail" that you got $XXX amount and WHERE it came from. It might be awhile before they got wind of a BOOK TRANSFER! THAT is why Ali and the other Currency Exchange services are being REQUIRED to use a Fed. Wire instead of a BOOK TRANSFER, even if their account is at the SAME BANK as you!

ONLY a "BOOK TRANSFER" or a "ledger TRANSFER" is available immediately to a person. Any "Fed Wire Transfer" will require the funds SIT untouched for 24 hours in the receiving account as a "PENDING DEPOSIT." This allows for any "supposed mistakes" to be "corrected" and a REVERSE TRANSFER to be allowed.

NO WIRED funds can be accessed immediately and transferred into another account! 24-HOURS. . .Like it or NOT! This is why you CANNOT IMMEDIATELY move the funds to another account.

This "wise" counsel was so bad IT HURT to read it. ANY person receiving funds or EXPECTING to receive funds should CHECK with your bank to get THEM to disclose Bank Policy as regards access to funds.

------------------------------------------------------------

Paintgirl to Bulldog75: I have a question...i opened my non-interest bearing accts. a while back...should a 2nd non-interest account be open at the same bank in the event that there will be $$$ wired into one account & for security reasons we dump the $$$ from the acct w/the wire into the 2nd acct. or can we open the 2nd acct the day the $ gets wired to the !st acct. my banker said we could open the 2nd acct on cash in day...what do you suggest?

Bulldog75: PAINTGIRL ANSWER: I WOULD HAVE 2ND NON INT ACCT ALREADY SET UP. SAVES TIME, DELAYS, MISTAKES. ONCE WIRE COMES IN ON THE FIRST ACCT AND YOU HAVE RECEIPT. MOVE IT TO 2ND ACCT. ; THAT WAY THE WIRING BANK NO LONGER HAS YOUR ACCT # AND THEIR CAN BE NO MISTAKES TO HIT YOUR 2ND ACCT. !!!!

--------------------------------------------

Well, I personally went into a B of A and spoke with a person at a desk (not a teller) who, I was told handled money transfers, and I asked this specific question "once I receive a rather large wire transfer into account A, can I immediately transfer into account B to insure no reversals could occur." I was told YES, as long as the money stays within the bank; however, I was also told I could not withdraw any of the money for 24 hours.

I'm not trying to argue, just want to tell all of MY experience. This conversation took place about a year ago, things may have changed and, also, it certainly wouldn't be the first time a bank representative has given wrong information.

rd

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Skybear Newbie

Skybear

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That's the difference between free advice and VIP advice, right? smile.gif

I have been impressed at every turn by Adam's advice and research. I have checked his data both as regards accuracy on the dinar and his greater work of WHERE and HOW to best protect and inhance one's assets - REGARDLESS of how they were earned. It matters little if the money was earned quickly or over a decade.

There are other and even far WORSE potential thieves of people's wealth than just our government. Intentional frivilous lawsuits, false claims, hounding by SCAMMERS and contribution-seekers from every organization from the likes of the ACLU to GREENPEACE and SAVE-THE-SPOTTED-OWL SOCIETY.

PROTECTING and PRESERVING your assets are possibly MORE IMPORTANT than just acquiring them. Readers of this blog don't have to look far to become educated on WHAT TO DO. STRONGLY suggest people here read Adam's considerable wealth of research. It will be a THOUSAND TIMES more valuable to you than ANYTHING you read from OOM or PTR!

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Captjohn Newbie

Captjohn

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Posted

In general what bulldog is saying about transferring funds into a second account for safety is right, however, as the poster correctly points out, you will have to leave the funds in the receiving account for 24 hrs before they can be moved to a second account. Got this directly from my BOA bank manager.

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Skybear Newbie

Skybear

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This guy is absolutely AMAZING!!

Can you BELIEVE what he is saying???

----------------------------------------------------------

OKIEOILMAN: GOOD EVENING AMERICA, SHIPS AT SEA AND ALL OUR WORLD WIDE FRIENDS. WELL---IT'S BEEN ABOUT 5 DAYS SINCE I HAVE

EVEN TURNED MY COMPUTER ON AND HAD 658 E-MAILS--TAKES A WHILE TO DELETE THAT MANY. THERE ARE RUMORS AMUCK THAT I KNEW WEREN'T TRUE AND I FIGURED IT WASN'T MY PLACE TO CORRECT THE GURUS THAT HAVE BEEN SAYING THIS IS DONE FOR A WEEK OR MORE.

------------------------------------------------------------------------------------

Who does he think STARTED the false rumors???

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jordan1 Newbie

jordan1

Posted
Posted

The following incredibly wrong "wise counsel" was given by one GURU, Bulldog75, to a questioner about wiring of funds into her bank account is ASTONISHINGLY wrong! This may explain SOME of the reasons these GURU's have also been so HORRIBLY WRONG about all their many announcements concerning the dinar.

She asks about the wisdom of opening a second non-interest account (called a "Transactional Account"), so as to TRANSFER funds from initial ARRIVING account into a parallel account, which is is a VERY GOOD IDEA. . .

HOWEVER. . .

NOBODY can do so until AFTER it has REMAINED in the initial ARRIVAL account for 24-HOURS!!! This period is designed by banks to allow for "ADMINISTRATIVE" and "ACCOUNTING CORRECTIONS" and "Reverse-Transfers" should they be "deemed" necessary. This is true EVEN IF the wired funds come from a different branch of the SAME BANK!

The other method of transfer from a DIFFERENT person's personal or business account at a different branch of your same bank to YOUR account at YOUR branch is called a "BOOK TRANSFER". A transfer from ONE of your accounts to another of your own accounts is called a "ledger" Transfer.

But the Fed doesn't get ANY notification immediately of ANY of these save for a Fed Wire Transfer. They know and have an instant "paper-trail" that you got $XXX amount and WHERE it came from. It might be awhile before they got wind of a BOOK TRANSFER! THAT is why Ali and the other Currency Exchange services are being REQUIRED to use a Fed. Wire instead of a BOOK TRANSFER, even if their account is at the SAME BANK as you!

ONLY a "BOOK TRANSFER" or a "ledger TRANSFER" is available immediately to a person. Any "Fed Wire Transfer" will require the funds SIT untouched for 24 hours in the receiving account as a "PENDING DEPOSIT." This allows for any "supposed mistakes" to be "corrected" and a REVERSE TRANSFER to be allowed.

NO WIRED funds can be accessed immediately and transferred into another account! 24-HOURS. . .Like it or NOT! This is why you CANNOT IMMEDIATELY move the funds to another account.

This "wise" counsel was so bad IT HURT to read it. ANY person receiving funds or EXPECTING to receive funds should CHECK with your bank to get THEM to disclose Bank Policy as regards access to funds.

------------------------------------------------------------

Paintgirl to Bulldog75: I have a question...i opened my non-interest bearing accts. a while back...should a 2nd non-interest account be open at the same bank in the event that there will be $$$ wired into one account & for security reasons we dump the $$$ from the acct w/the wire into the 2nd acct. or can we open the 2nd acct the day the $ gets wired to the !st acct. my banker said we could open the 2nd acct on cash in day...what do you suggest?

Bulldog75: PAINTGIRL ANSWER: I WOULD HAVE 2ND NON INT ACCT ALREADY SET UP. SAVES TIME, DELAYS, MISTAKES. ONCE WIRE COMES IN ON THE FIRST ACCT AND YOU HAVE RECEIPT. MOVE IT TO 2ND ACCT. ; THAT WAY THE WIRING BANK NO LONGER HAS YOUR ACCT # AND THEIR CAN BE NO MISTAKES TO HIT YOUR 2ND ACCT. !!!!

--------------------------------------------

i would beg to differ on your analogy , although i agree that bulldog is full of bullshiite , I would gladly tell you that a wire transfer is available for withdrawal transfer or anything else of the kind as it is collected funds!! I deal with wires all the time and get them in my account and transfer and wire the same day from the wire balance to other vendors .. Please just look at a wire form , the form states that the responsibility is on the wiring party to insure that the account it is going to is correct. If you wire to the wrong account the the receiver must approve a reverse wire request and initiate the return of the money once notified by the federal reserve... Sorry that's the way it works .......

thanks

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Skybear Newbie

Skybear

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i would beg to differ on your analogy , although i agree that bulldog is full of bullshiite , I would gladly tell you that a wire transfer is available for withdrawal transfer or anything else of the kind as it is collected funds!! I deal with wires all the time and get them in my account and transfer and wire the same day from the wire balance to other vendors .. Please just look at a wire form , the form states that the responsibility is on the wiring party to insure that the account it is going to is correct. If you wire to the wrong account the the receiver must approve a reverse wire request and initiate the return of the money once notified by the federal reserve... Sorry that's the way it works .......

thanks

Jordan1

You can beg to differ all you want, but the 24-hour FedWire requirement is mandatory. Your bank may have a "track-record" relationship of wires where they will "GRANT" you credit against UNCLEARED funds, but those UNCLEARED funds must REMAIN untouched when sent by FedWire.

A good place to get this read to you officially is from one of the WIRE HEADQUARTERS of one of the MAJOR banks.

Wells Fargo is as good an example as any. I suggest you communicate with their CENTRAL WIRE CENTER and ask about when an inbound wire becomes a PENDING deposit versus when it is FULLY RELEASED as an AVAILABLE deposit. 1-800-TO-WELLS (1-800-869-3557).

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msmortgagewiz Newbie

msmortgagewiz

Posted
Posted (edited)

That's the difference between free advice and VIP advice, right? smile.gif

That statement gave me goose bumps.....I LOVE the intelligence within our group. Everyone is so bright, we have to wear cool.gif

Jordan1

You can beg to differ all you want, but the 24-hour FedWire requirement is mandatory. Your bank may have a "track-record" relationship of wires where they will "GRANT" you credit against UNCLEARED funds, but those UNCLEARED funds must REMAIN untouched when sent by FedWire.

A good place to get this read to you officially is from one of the WIRE HEADQUARTERS of one of the MAJOR banks.

Wells Fargo is as good an example as any. I suggest you communicate with their CENTRAL WIRE CENTER and ask about when an inbound wire becomes a PENDING deposit versus when it is FULLY RELEASED as an AVAILABLE deposit. 1-800-TO-WELLS (1-800-869-3557).

Nicely done.

Edited by Markinsa
Removed Duplicate Quote
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