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241

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 is that your dad will deposit the check and transfer it to this woman, then the check will bounce (or turn out to be fake altogether) and your dad will be on the ...


107

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 promising to "start a business" with you as a way to gain your confidence and trust. The first danger sign is that you only know this person from online. They are ...


102

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 US law (which I'm not particularly familiar with, so if I go astray I'd suggest others fix any flaws in this answer), but most other countries have similar ...


100

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 whoever gave them the check. You have found yourself on the other end of the usual counterfeit check scam. In this case, the counterfeit check that they gave to ...


99

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 $25 that is in the account. Just as has happened to your dad before, you will be receiving money that is not real, but paying real money out somewhere else. One ...


89

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 thought. You have no idea what the sources of his money are, so what happens if the money is stolen or otherwise illegal? If it is determined that you used any of ...


84

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 don't know quite what the scam is likely to be, here's how I would suggest it might work: They sell something to Person A for, say, $500 You get sent $500 by ...


78

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 processes that run on huge mainframe computers overnight. Changing these processes is extremely difficult, because there are so many things tying into it - taxes,...


75

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 aware of and willing to contact them. They take this extremely seriously. You can figure out who the regulator is using this helpful page on the Office of ...


74

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 someone else she names. This is done to enter illegally gained money into the regular money circulation, hiding the trail. If this is the case, you would have ...


74

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. Nationwide offer a current account with no monthly fee and no minimum pay in requirements. Barclays offer a current account with no monthly fee and no minimum pay in ...


70

Technically, no. There is very little security in the US for bank drafts. With your bank account routing number it is very easy for people to draw funds without your authorization. Another thing people can do is buy stuff online with "demand drafts". Essentially it works like a credit card number where the create an electronic version of a check to purchase ...


67

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 clothing for you, and if you cause damages to someone, they are required to pay it. There are two results of this that affect your situation. First, it is not ...


64

There are essentially three ways to do this: Each of you have your own bank account. Shared costs are split between you equally (or whatever proportion you want). Any money left over is yours to do what you want with. This emphasises your financial independence from each other, and becomes much less tenable if you are not both working. One bank account. The ...


63

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 by government regulation, but they carry enough weight to influence government and to some extent shape the regulation they have to follow. While this ...


52

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 offered by your company are of an "adult" (possibly illegal?) nature and that this individual has actually paid you in full for the services rendered up to this ...


50

I think the answer depends very much on where you are. I believe the other answer covers north america. On contrast, in (continental) Europe, giving the account and bank number (IBAN and BIC) is a (the most) common way to enable someone to send money to you. E.g. in Germany, you need much more than account number and bank number to withdraw money: To "...


40

This is definitely a scam. Don't reply to the email at all. Don't forward it or save it. Just mark it as spam/junk in your email client and delete it. These emails are known as Nigerian scams or "dead customer scams", and there are several variations on this theme. For example: Someone will email you claiming that they need you to stand in as the next-of-...


39

There are different approaches, but here is what we do and what I recommend. Now that you are officially a married couple, open a joint bank account, and eliminate your individual accounts. There are several reasons for this. Having a joint account promotes unity and teamwork. When you only have a joint account, you do not have "your income" and "her ...


37

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 have to be your mother "The account owner and beneficiary do not need to be related" It looks like you could then contribute directly and possibly even ...


34

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.


34

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, sz/ss in upper- and lower-case variant. In the wild, even minor variants of the account holder name seem to be ok. What's most important is the IBAN, and the ...


32

This is a scam, I'm adding this answer because I was scammed in this fashion. The scammer sent me a check with which I was to deposit. When the money showed up in my account, I would withdraw the scammer's share, and wire the cash to its destination. However, it takes a couple days for a check to clear. Banks, however, want you to see that money, so they ...


29

JohnFx is right: banks hate visits and attention from the regulator (both positive and negative). I would not threaten to file, just file away and let them get in contact with you. The local branch is stalling you. Do not play their game. Since you already went through the first level of support (local branch, phone support), get the bank ombudsman contact ...


28

The answers here are all correct. This is 100% scam, beyond any reasonable doubt. Don't fall for it. However, I felt it valuable to explain what would happen were you to fall for this. It's not all that hard to understand, but it involves understanding some of the time delays that exist in modern banking today. The most important thing to understand is ...


27

Wells Fargo uses a service called clearXchange (update: it is now called Zelle) to do this transfer without an account number. This is the same service Bank of America uses, so when you configured your account to be linked to clearXchange, Wells Fargo customers can use it the same way Bank of America customers can. This also applies to Chase bank. Since ...


27

There are several red flags here. You are not licensed to operate as a financial entity and/or transfer money (credits to @Brick - it does not apply only to USA). You cannot be sure you are not participating in money laundering. Did they send you a contract? can they get my bank account info in any way from me transferring money to them? Probably yes. ...


27

It's not foolish, but it may not be efficient. In your case, one issue I can foresee is not having enough funds in either account individually. If you need a transactional account (for quick access to cash), I would instead look for a national bank or credit union, or a bank or credit union that at least allows free ATM withdrawals in your area. That way ...


25

With a power of attorney in place you can sign your own signature and print the following below: [your husbands name] by [your name] as Attorney In Fact If you endorse a lot of checks, it might be worth the investment to get a rubber stamp made that has the printed portion. I did that while my brother was overseas for a lengthy military deployment and ...


24

The bank won't let you because: Differences in required account features — Business accounts have different features (many of them legal features) that are required by businesses. For instances: Do you want to be able to deposit cheques that are written out to your business name? You need a business account for that. Your business could be sold. ...


Only top voted, non community-wiki answers of a minimum length are eligible