251
votes
Scam or Real: A woman from Facebook apparently needs my bank account to send money
Absolute scam. Any time anyone asks you to open a bank account so they can send you money and then you have to send some portion of it back to them, it's a guarantee that it's a scam.
What happens ...
- 10.1k
117
votes
Accepted
Why do banks seem to be indifferent about identity theft?
Banks are not indifferent to identity theft. They are just not sharing with you what they are doing.
As well as the privacy reasons cited in the other answer, and the inability of the banks to conduct ...
- 33.1k
114
votes
Accepted
Scam or Real: A woman from Facebook apparently needs my bank account to send money
The other answers describe why this is highly likely to be a scam.
This answer describes why you don't want to get involved, even in the unlikely case that it isn't a scam. I'm describing this using ...
- 1,322
107
votes
Accepted
Counterfeit checks were created for my account. How does this type of fraud work?
When this happens, your bank should give you your money back. Your bank will then recover the money from the bank that accepted the check, and that bank will then attempt to recover the money from ...
- 115k
106
votes
A friend wants to use my account for a wire transfer. Is this a scam or is it legitimate?
This is another version of an old scam -- "let me have a check deposited in your account because I can't open one for some reason, and I'll share some of the money with you." Here the scammer is ...
- 10.1k
102
votes
Scam or Real: A woman from Facebook apparently needs my bank account to send money
Yes, it is a scam.
Think about it: Why would a stranger offer to give you money? Why would she need you to pay her own employees? She wouldn't. It is a scam.
You have more to lose than just the $...
- 115k
91
votes
A guy scammed me, but he gave me a bank account number & routing number. Can I use that to take out what he owes me?
You're potentially in very deep water here.
You don't know who this person is that you're dealing with. Before you'd even met him, he just gave you his banking info, seemingly without a second ...
- 10.1k
89
votes
How safe is money in the bank?
I do hear in the media that the threat of cybercrime in a bank is particularly high.
The media says all sorts of things. The biggest risk is you. For those few months, don't believe anyone calling ...
- 9,781
85
votes
Accepted
Possible customer wants me to handle payment to another contractor. Is this a scam or not?
100% scam. It's not your job to pay other contractors on behalf of the customer.
Ask yourself this: If the situation were reversed and the customer was saying he'd pay the other contractor, who ...
- 1,127
84
votes
What risks are there acting as a broker between PayPal and electronic bank transfers?
This sounds like a scam. Did they email you out of the blue to offer you this 'job', by any chance, and you'd never heard of them before? That's an incredibly large red flag in and of itself.
While I ...
- 1,458
82
votes
Accepted
Closed account, haven't received payment. When has the bank "stolen" my money?
The best way is to either file a dispute (or threaten to) with their regulator. They do NOT need negative attention from a bank regulator, so it should get their attention if you show that you are ...
- 53k
81
votes
Where to put an inheritance of $1.4 million upon first receiving it
If you have that much new money to invest, you really should be investing some of it in getting professional advice rather than asking the internet.
A good advisor (of one of the flavors that has a ...
- 43k
79
votes
Accepted
Why is a transfer from an account to another not done instantly when it's not the same bank?
Because banks still rely on processes and software that were established many decades ago, when constant, semi-instant communication was not technologically possible. Instead, you would have batch ...
- 8,125
75
votes
Second (easy access) account in case my bank screws up
Frame challenge
It’s easy to have multiple accounts with multiple banks without jumping through hoops.
Halifax offer a current account with no monthly fee and no minimum pay in requirements.
...
- 747
74
votes
Scam or Real: A woman from Facebook apparently needs my bank account to send money
Don't do it.
If it's not the classic scam described in Daniel Anderson's answer, then it's probably money laundering. In that case, the woman would actually wire you money, which you have to wire to ...
- 838
69
votes
Is there a fee to be paid to reactivate a bank account of an American citizen?
This has all the hallmarks of a scam. If they really needed to charge a fee they could deduct it from the account balance. And if this fund has existed for a long time why didn't you already know ...
- 27.9k
66
votes
As a 16 year old, how can I keep my money safe from my mother?
I’m sorry to hear about your situation. There are a couple of issues at play.
Parents are responsible financially for their kids until they turn 18. They are required to provide food, shelter, and ...
- 115k
63
votes
Accepted
Why do most banks in Canada charge monthly fee?
Arguably, "because they can".
Canada's banking industry is dominated by five chartered banks who by virtue of their size, pretty much determine how banking is done in Canada. Yes, they have to abide ...
- 1,032
60
votes
How can I force a bank to close my account with them?
Write them a letter demanding (no whining or pleading) that they close the account, and send it via certified mail (thus demonstrating that you sent them the letter and that they received it).
...
- 50.6k
54
votes
What is the purpose of budgeting if all I need to do is look at my bank/credit card statement?
It is simple: you need budgeting to plan your smaller and bigger future expenses (and savings). Here some examples:
I planned a budget of $100 per month ($1200 per year) for car maintenance and ...
- 551
53
votes
A guy scammed me, but he gave me a bank account number & routing number. Can I use that to take out what he owes me?
TL;DR - Do not attempt to take money from someone's bank account based on a verbal agreement, even if you feel you're entitled to it.
OK, reading between the lines here it looks like the services ...
- 1,374
50
votes
Paid off $5,000 credit card 7 weeks ago but the money never came out of my checking account
Don't be afraid, but definitely leave the money in your account!!!
It's spent money; the other bank just doesn't realize it yet.
I'd probably call the CC bank and ask them what account they think the ...
- 50.6k
42
votes
Accepted
Possible scam for security deposit - bank operation
This is normal for Switzerland, it's called "Rental surety savings account" or "Rental Deposit Savings Account"
and banks invest a lot to automate opening and closing such accounts,...
- 466
42
votes
How safe is money in the bank?
Not addressing cybercrime, but thinking of other "safety" issues.
Your money is safe in just your current account for a period of 6 months, as a Temporary High Balance.
However, after those ...
42
votes
Where to put an inheritance of $1.4 million upon first receiving it
Sometime in the next year, I will receive an inheritance of 1.2 to $1.4 million. I am concerned about the safety of money in a bank with threats to USD thanks to fiat vulnerability. I live in the ...
39
votes
How can I force a bank to close my account with them?
The Consumer Financial Protection Bureau states:
... state law generally requires banks or credit unions to close your account in a reasonable amount of time...
You can find your particular state'...
- 2,554
37
votes
As a 16 year old, how can I keep my money safe from my mother?
If you are 100% positive you want to use your money for schooling, it may be worth looking into the Utah Educational Savings Plan (my529) You will need an adult to set it up for you but it does not ...
- 797
35
votes
A friend wants to use my account for a wire transfer. Is this a scam or is it legitimate?
I know people who work in the gulf and most contracts are of the 14 days on/ 14 days (or so) off flavor. I've never heard of someone being onboard a ship or platform for a year. I bet this is a scam.
- 3,997
34
votes
Accepted
Umlaut Character in Account Holder Name (German Bank)
I am from Germany and occasionally avoid Umlauts because I use a non-German keyboard layout. So I might share some experience here.
Usually, the German financial institutions are ok with ue, ae, oe, ...
- 364
34
votes
What is the purpose of budgeting if all I need to do is look at my bank/credit card statement?
I'm going to provide an answer that is somewhat of a devil's advocate. Disclaimer: I personally don't have a budget beyond some very loose guidelines (e.g. always spend money carefully, and never ...
- 2,288
Only top scored, non community-wiki answers of a minimum length are eligible