I was wondering if it is possible with the information sent for one's account for receiving a bank wire payment from the Middle East that the information could be used to get funds out of one's account instead?
Have them send you a Western Union wire transfer instead. You select the Western Union office closest to you to collect the money. No banking info is required by the sender to remit funds.
Bank of America has something called a SafePass for extra security. I would recommend calling your bank about what they can provide for extra safety. https://www.bankofamerica.com/depos...transfers.go
In the rest of the world where wire transfers are common everyone publishes their bank account information. Many times it is on company's websites for everyone to see.
For example Philately Liechtenstein publishes several bank accounts on their website so people can send payments.
For some reason, bank transfers between individuals never caught on in North America. I know it's very common in Australia and Europe. There really is nothing to be concerned with as bank transfers are very safe, but if one were to worry about passing this info to a stranger, I'd suggest another way of receiving funds.
Quote: was wondering if it is possible with the information sent for one's account for receiving a bank wire payment from the Middle East that the information could be used to get funds out of one's account instead?
Yes...and no the bank won't ask you if it is a legitimate transaction. People who use checks and argue that online transfers are unsafe run the same risk.
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Posted 08/10/2016 10:37 am
