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kevindking

Securing Your Wire Post Rv

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This is EXACTLY how you should handle a large wire transfer. When a party wires to your account, they have the legal right to claw the funds back in the event of an "error." Example - if an employer pays an employee through direct deposit, and they make a mistake on the final payroll, they can take back the amount paid in error.

You want to transfer the funds to a second account so that they can't take the funds back. Excellent post, thanks!

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it is a huge safety precaution that decreases risks.

Those of you who are too smart to learn something ... just pass on this extra step ... those of you who have experience in transferring large sums ... you already know to do this ... and those of you who have never transferred large sums of money ... do what he said.

No, it's not fail safe but eliminates a couple of scams and costs so little and takes so little time.

BofA will give you a "personal banker" ... take advantage of it and have him on the phone to confirm the first transfer ... then "with written instructions" have him do what the thread suggested ... then YOU verify it into your second account via your laptop.

Thanks for the post!

Edited by Doc31

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Thanks for the idea. Call me paranoid but I say it's better to be cautious in this scenario. We could be dealing with very large sums of money and you just never know what measures people will go to to get it from you. Good post.

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This is so obvious, not sure why anyone would argue with it.....never allow anyone to have access to your account numbers....also, get an identity theft shield, its cheap....go RV already!!!

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Kevin:

Several years before my father passed away his bank notified him that the Social Insecurely MisAdministration had withdrawn two months worth of direct deposit Social Security from his checking account.

Upon inquiry the SSA told Dad he was dead and they had reclaimed SS payments paid after his death.

Like many elderly folks Dad suffered loss of hearing and diminished sight, could not drive himself, nor deal with automated phones. Getting this resolved took several months, several trips to the, fortunately local, SS office and several missed work days for me. Not to mention that Dad was furious that someone had messed with his and Mom’s money.

Fortunately, they had money to tide them over till the issue was resolved. Shortly there after Semper Fie newsletter reported that Marines had had their entire bank account cleaned out by the SSA, ( not just a month or two SS deposits ) and that some cases had taken months to resolve while the retiree was as good as penniless.

While the SS took care Dad’s issue fairly promptly their lack of concern or remorse was noteworthy. They never would say just how the error occurred. The month after Dad’s money was reinstated to him ( deposited in an account set up especially for the SS check, and then moved to his checking account) SS “killed” my profoundly handicapped brother and stopped paying his SSI.

Thank- you for a very good suggestion that applys wether one direct deposits or allows direct withdrawals from their bank accounts.

A jug of wine, some dinars, and you

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Dont be so paranoid......the majority of you will be cashing in at your local bank.....they are not going to wire you money and then somehow pull money right back out because they want some of your cash......that would be a federal crime......even to be cashing in with Ali, wire transfers are kept on file and leave trails so you know who, what, when, and where your money is coming and going...Ali would not even think of doing something like that either........its a little silly but if that will make you sleep better at night do what you please.......

Quote: "That would be a federal crime"

Not true.

Fact: Anyone who makes a wire transfer bank to bank can reverse the transaction.

The SENDER has the legal right to stop and or reverse the origional transaction anytime within the first 24 hrs after the transaction has been made.

Don't think that is true?

Call your local bank and find out yourself.

Edited by Phoenix

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i have a checking account and a savings account at chase bank...can i just wire funds into checking and transfer to savings after RV or just set up another account?

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Lets get down to real information here. Confusion is reigning re this extra security.

If I have BOA. now as per it being one of Ali's Banks for ledger to ledger transfers can you explain this safety precaution completely? If I have been with another bank for years and years therefore BOA policies may new to me. If my old bank will accept the wire transfer but not ledger to ledger therefore there may be some delays involved. If BOA already thinks I am a little off regarding currency transactions re Dinar RV or so it seems and IF I would like to be able to explain exactly what is that I want clearly and concisely or if and when any member here made this request, please do explain...exactly how to present such to BOA, Why? Even BOA continues to have more then a wait and see attitude right now or even disbelief regarding Dinar RV. smile.gif

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Quote: "That would be a federal crime"

Not true.

Fact: Anyone who makes a wire transfer bank to bank can reverse the transaction.

The SENDER has the legal right to stop and or reverse the origional transaction anytime within the first 24 hrs after the transaction has been made.

Don't think that is true?

Call your local bank and find out yourself.

Also, many things are illegal in this country that A LOT of people get away with....

Me? Im taking the extra precaution

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