Re: Help with Transfering Money

jackthebear · ‎03-11-2010

at least the bank is being diligent and watchful

all money over 10K has to be accounted for in all transactions

Krimpette · ‎03-09-2010

You're way more trusting (and generous) than I am. For a sum of money that large, were I to feel inclined to make such a large loan, I'd only do it in person......and with a legal document to be signed showing the terms of repayment, etc.

KathyPet · ‎03-09-2010

DId you actually speak to your cousin personally? IF so are you absolutely sure it was him?

WHy does he need to borrow $20,000? have you confirmed this story with any other family members who would know for sure if it is true?

Please, please do not send any money without verifying, verifying, verifying.

Tinkrbl44 · ‎08-23-2010

@shiningstar wrote:
Long story, but will try to make it short. My cousin who is out of the country needs to borrow 20,000. I have given him money before and he has paid me back. The problem is the bank will not transfer the money to his account and we deal with a well known bank. They say it's a scam. If I withdraw the money, do you think they will let me send it to him through the same bank transfering the cash it into his account. I'm so tired dealing with these people.

@shiningstar

PLEASE listen to your bank! Keep the 20k in your own bank account and find some other way to help your cousin .... IF it actually is your cousin. Scammers are very sophisticated and frequently impersonate cousins, grandchildren, nieces and nephews.

Your well known bank is on top of all the latest fraudulent activity and scams. PLEASE listen to them.

chrystaltree · ‎05-10-2010

Oh, good grief. Op didn't ask for our advice about scams and she clearly said it's a relative and she has loaned him money before and he has paid her back. No where in her post did it indicate that this could be a scam. My advice is that rather than telling the bank how she wants to handle this transfer of funds.....she should ASK them how it should be done. It's her money, if she wanted to transfer every single penny she owns to a scam artist, she's entitled to do that. It's not the bank's business. All she needs to do is go into her bank and explain that she wants to transfer funds to a relative and ASK how that can be done.

KathyPet · ‎03-09-2010

THe OP,did not say how this request to borrow the money came to her. DId she speak to her relative in person or was the request via E Mail? if he called is she sure it is him? WHat does he need the money For? DId she ask? AS others have pointed out it is not unusual,for these scammers to borrow small amounts and pay the money back in order to gain the trust of the person being scammed. IF she is totally and completely sure the request is legitimate and it is indeed her relative that she knows requesting the money then she should go ahead but she should be very very wary.

Bellabutterfly · ‎04-10-2014

Don't do it! You are being scammed...Listen to your bank.

If you chose not to listen to your "Bank" or your "Financial Adviser". This is $20,000- that can never and will never be recovered.

You will then feel "Used and Stupid".

This money can never get recovered.

Be wise...

Tell him to go to a bank and get a loan...

Plaid Pants2 · ‎03-14-2015

@chrystaltree wrote:
Oh, good grief. Op didn't ask for our advice about scams and she clearly said it's a relative and she has loaned him money before and he has paid her back. No where in her post did it indicate that this could be a scam. My advice is that rather than telling the bank how she wants to handle this transfer of funds.....she should ASK them how it should be done. It's her money, if she wanted to transfer every single penny she owns to a scam artist, she's entitled to do that. It's not the bank's business. All she needs to do is go into her bank and explain that she wants to transfer funds to a relative and ASK how that can be done.

I'm thinking that her bank might be legally required to tell her that it is a scam.

Because, for argument's sake, let's say that it is a scam, and her bank didn't warn her beforehand.

After she realizes that she had been scammed, she could, theoretically say, "You didn't tell me before I transferred the money! You knew and didn't tell me! I'm suing the bank!!!".

CrazyDaisy · ‎03-20-2010

@Plaid Pants2 wrote:
@chrystaltree wrote:
Oh, good grief. Op didn't ask for our advice about scams and she clearly said it's a relative and she has loaned him money before and he has paid her back. No where in her post did it indicate that this could be a scam. My advice is that rather than telling the bank how she wants to handle this transfer of funds.....she should ASK them how it should be done. It's her money, if she wanted to transfer every single penny she owns to a scam artist, she's entitled to do that. It's not the bank's business. All she needs to do is go into her bank and explain that she wants to transfer funds to a relative and ASK how that can be done.

I'm thinking that her bank might be legally required to tell her that it is a scam.

Because, for argument's sake, let's say that it is a scam, and her bank didn't warn her beforehand.

After she realizes that she had been scammed, she could, theoretically say, "You didn't tell me before I transferred the money! You knew and didn't tell me! I'm suing the bank!!!".

The bank may suspect that it is a scam (and they may be right), however they do not have any proof.

They can warn her, yet it is her money. They cannot stop her from transferring it is that is her desire. She just needs to discuss the correct proceedure.

Someday, when scientists discover the center of the Universe....some people will be disappointed it is not them.

chrystaltree · ‎05-10-2010

@Plaid Pants2 wrote:
@chrystaltree wrote:
Oh, good grief. Op didn't ask for our advice about scams and she clearly said it's a relative and she has loaned him money before and he has paid her back. No where in her post did it indicate that this could be a scam. My advice is that rather than telling the bank how she wants to handle this transfer of funds.....she should ASK them how it should be done. It's her money, if she wanted to transfer every single penny she owns to a scam artist, she's entitled to do that. It's not the bank's business. All she needs to do is go into her bank and explain that she wants to transfer funds to a relative and ASK how that can be done.

I'm thinking that her bank might be legally required to tell her that it is a scam.

Because, for argument's sake, let's say that it is a scam, and her bank didn't warn her beforehand.

After she realizes that she had been scammed, she could, theoretically say, "You didn't tell me before I transferred the money! You knew and didn't tell me! I'm suing the bank!!!".

No, that would never happen. If a bank suspected something is scam, it's their responsibility to alert depositors. That's true. But it's not up to them to look for scams where none exist and then hold our money hostage. Even when something is clearly a scam, if the customer wants to proceed, the bank can't stop them. The the US, we are allowed to act foolishy and make mistakes.