Paid via Bank Transfer

[pelparc]

If i accept a payment via an International bank transfer, how safe is the money once paid? Can it be claimed back for whatever reason, such as fraudulent use of an account? And is it totally safe to give out your IBAN / account number?

I thought it was safe, but is it?

Thanks

 

[Newchodge]

Have a look here
https://www.ukbusinessforums.co.uk/threads/this-scam-is-doing-the-rounds-again-be-careful.396528/

If you receive an international bank transfer (unless it is from a Nigerian Finance Minister wanting your help in recovering $9,000,000 from his estate) always check with your bank how he money was received and the date on which it becomes unrecoverable. That is not the same as the date it is available for use.

Never, ever, issue a refund against a bank transfer or cheque payment, or anything else, until you are certain that the money in your account cannot be reclaimed by the sender.

 

[pelparc]

Thanks Newchodge,
I obvious know the risks of cheque payments and refunds, wasn't aware of a date on which it becomes unrecoverable for a transfer, as i thought once it was received it can not be claimed back.
This is actually for a very small amount, so it dos not matter to much, just got me thinking.,.

 

[Newchodge]

Thanks Newchodge,
I obvious know the risks of cheque payments and refunds, wasn't aware of a date on which it becomes unrecoverable for a transfer, as i thought once it was received it can not be claimed back.
This is actually for a very small amount, so it dos not matter to much, just got me thinking.,.

I think that one of the issues is whether you can identify a credit into your account as a cheque payment or bank transfer.

 

[Mark T Jones]

My understand is that banks can recover fraudulent funds for up to 6 months

Your bank should be able to confirm / deny this in writing

 

[OMGVape]

My understand is that banks can recover fraudulent funds for up to 6 months

I thought this, but why can’t they recover funds when some poor pensioner is scammed into transferring their life savings to a bogus account ?

 

[Socio South West]

I thought this, but why can’t they recover funds when some poor pensioner is scammed into transferring their life savings to a bogus account ?

Because the scamsters operate in the same way I used to operate my accounts when I was receiving a lot of payments: I held an account specifically to receive and make payments, and as soon as a payment arrived it was transferred to another account with another bank, When I wanted to pay someone I did the reverse.

 

[Deleted member 59730]

If you receive an international bank transfer (unless it is from a Nigerian Finance Minister wanting your help in recovering $9,000,000 from his estate)

Oddly enough the last assignment I failed to do for a Nigerian client failed because the real Nigerian Finance Minister could not overcome the problems of transferring my fee!

I had previously done over 20 assignments for Nigerian based clients with no payment problems whatsoever.

 

[Mr D]

Because the scamsters operate in the same way I used to operate my accounts when I was receiving a lot of payments: I held an account specifically to receive and make payments, and as soon as a payment arrived it was transferred to another account with another bank, When I wanted to pay someone I did the reverse.

Some just have an account to receive only - payments are made from a separate account.
And payments transferred daily is common enough with such accounts. There are dozens of charities doing it.

 

[UKSBD]

I've read numerous times that it is perfectly safe giving out your bank details and assumed it was so until I had some DD payments go out of my account without my authorization.

Apparently, if someone has your bank details they only have to say you agreed and they can set up a DD without your knowledge - See this post https://www.ukbusinessforums.co.uk/threads/dennis-publishing-direct-debit-fraud.394429/


Edit to add: More about Dennis Publishing fraudulent Direct Debits here - https://uk.trustpilot.com/review/dennis.co.uk

 

[UKSBD]

What do you know - just checked my account again and another DD has been set up, this time by TIME INC. -UK- LTD another magazine publisher.

They haven't taken anything out yet, but there is obviously something going on with these magazine publishers

 

[Newchodge]

What do you know - just checked my account again and another DD has been set up, this time by TIME INC. -UK- LTD another magazine publisher.

They haven't taken anything out yet, but there is obviously something going on with these magazine publishers

It seems to be magazine publishers and you. Do you have a family member or an employee who likes the printed word?

 

[UKSBD]

It seems to be magazine publishers and you. Do you have a family member or an employee who likes the printed word?

No, and Dennis as good as admitted it was a fraudulent set up last time.
If you look at the trust pilot reviews it has been happening to a number of people in past few months.

I'll go to my bank again on Monday to make sure TIME INC. -UK- LTD aren't allowed to set up any more DD's

Crazy that companies can just do this with absolutely no authorization.