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Lost $85 to a wire transfer that went to a ghost account
Sent money through my bank's online wire service to what I thought was a contractor's business account. Double checked the routing number three times, but the account name had one letter off from what he gave me. Bank said once the wire clears, it's basically gone and they can't reverse it unless the receiving bank cooperates. Took two months of back and forth before I gave up. Anyone else get burned by a wire with no real fraud protection? How do you verify accounts before you hit send?
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grant.sam20d agoMost Upvoted
Two months of back and forth and you just gave up? That sounds frustrating, but I gotta ask, how sure are you that the contractor didn't just give you a wrong number on purpose? I mean, you double checked the routing number, but one letter off on the account name, that's a pretty small mistake for a grown adult to make. Also, banks are real strict about wires for a reason, they tell you to verify everything before you send, so maybe some of this is on you. I'm not saying it's not a pain, but $85 is a cheap lesson compared to what some people lose on stuff like this. Next time, just send a tiny test amount first or use a service with more protection, that's what I do.
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