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I screwed up the last week and I got taken. I got some back, with the balance supposed to get back tomorrow.

Never ever use bank transfers. 9 times out of 10 you'll get screwed out of your cash.
 

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That sucks. Did you buy from a store, or was it Kijiji-like?

My wife recently was furious with an online purchase from a web retailer. What she received was nothing like what was advertised. Turned out they made a shipping mistake. They apologized up and down for it, and quickly sent her the correct item.
 

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I screwed up the last week and I got taken. I got some back, with the balance supposed to get back tomorrow.

Never ever use bank transfers. 9 times out of 10 you'll get screwed out of your cash.
An email transfer is essentially the same as giving someone a check. If you don’t trust the person to give you a check, then don’t take a transfer either.


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Never personally ripped off. Had issues that were eventually resolved. I don’t do many online deals though. I’m a bit of a skeptic by nature and if something doesn’t feel right I pass. Plus, the level of risk I’m willing to take varies greatly depending on the $ involved.
 

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The guy was really good at it. Knew exactly what to say, had the scam down. It you advertise that you are looking for something it will attract the scammers. I am lucky to get my money back, but it's because I dug in and contacted the banks and the police.
 

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Exactly how was an EMT a scam? I used to work for a bank and once an EMT is complete (money accepted and in the other person's account) there is no recourse to reverse it.
 
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Exactly how was an EMT a scam? I used to work for a bank and once an EMT is complete (money accepted and in the other person's account) there is no recourse to reverse it.
If the person lies to you to trick you to send money under fraudulent pretenses then it is a scam. The transfer is not a scam, but the interaction is completed under false pretenses. In my case he texted me false information right at the start, so I have proof there was never any good will on his end.
 

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Never personally ripped off. Had issues that were eventually resolved. I don’t do many online deals though. I’m a bit of a skeptic by nature and if something doesn’t feel right I pass. Plus, the level of risk I’m willing to take varies greatly depending on the $ involved.
If I can't touch it or drive it before I buy it, I don't. And same with if I can't get something when I need it.....I don't buy on line. I might have bought 5 things online over the years, 4 were for the grand daughters, one was a rip off but it was under $5 including shipping.
 

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An email transfer is essentially the same as giving someone a check. If you don’t trust the person to give you a check, then don’t take a transfer either.


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Not true. A cheque can bounce or have a stop payment placed on it. There's a clearing time. Once an EMT is sent and accepted on the receiving end that's it. An EMT is more like mailing an envelope full of cash to someone.
 

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If the person lies to you to trick you to send money under fraudulent pretenses then it is a scam. The transfer is not a scam, but the interaction is completed under false pretenses. In my case he texted me false information right at the start, so I have proof there was never any good will on his end.
Ah, ok so they conned you into sending an EMT for an item that they never had any intent on following through with.

It's an extreme risk doing any sort of distance deal through Kijiji or Facebook marketplace for that reason. There's no recourse if the seller doesn't hold up their end. That's why places like Reverb and eBay can act as a third party to mitigate that risk. I can't say I haven't done it myself but I got lucky and it went fine.
 

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Sorry to hear. Was it in Kijiji? There are a lot of scrupulous people waiting to take advantage. I don't usually deal in Kijiji and if I do, I make sure I don't give them any money until I see them personally.
 

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Not true. A cheque can bounce or have a stop payment placed on it. There's a clearing time. Once an EMT is sent and accepted on the receiving end that's it. An EMT is more like mailing an envelope full of cash to someone.
Actually not true. Family member works in a bank and they have other banks reverse EMTs all the time. If the money in the original account was there fraudulently then the originating bank can claw it back after the “transfer”. It’s a common form of fraud



Can’t say much more than that but believe me, it’s not a secure way to get money from a stranger.

Edit: removed the how to. I realize it’s been quoted but I can’t do anything about that.

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Actually not true. Family member works in a bank and they have other banks reverse EMTs all the time. If the money in the original account was there fraudulently then the originating bank can claw it back after the “transfer”. It’s a common form of fraud

1st person deposits fake cheque into bank. Immediately EMTs the cash back portion. 2nd person then spends the money but the first bank flags the transfer as fraud and claws back the transfer. 2nd bank takes the money from the receiver as per their policy.

Can’t say much more than that but believe me, it’s not a secure way to get money from a stranger.


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I need to cancel a transfer, but the recipient has already accepted the deposit. How do I reverse an Interac e-Transfer transaction? | Interac

I need to cancel a transfer, but the recipient has already accepted the deposit. How do I reverse an Interac e-Transfer transaction?

Unfortunately, once a deposit has been made there is no way to reverse the transaction. You’ll have to make arrangements directly with the recipient. You should only send money transfers to parties you know and trust. For most Interac e-Transfer uses (sending money to family and friends, repaying IOUs, sending money as gifts, etc.), you will know the recipient well. For uses where you may not know the recipient (e.g., online auction purchases), take the same precautions you would take when making cash purchases. For online auctions and purchases, be sure to read and follow any steps recommended by the operators of these websites to safely transact.
I worked for RBC for seven years. In the scenario you described the person who deposited the cheque and used money against their deposit release would have their account go into an overdrawn balance after the cheque is bounced. The bank would not turn around and reverse the subsequent EMT because they are two separate transactions. The same thing would happen if the person deposited a cheque, then withdrew cash, and then the cheque bounced.
 

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I know this is an intercepted transfer, but the security issues are still there. As in not secure


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"An RBC manager says an internal investigation indicated that Fearnley's email account had been hacked, and when Hoover sent the e-transfer, the fraudster figured out the answer for the security question necessary to deposit the money, and then redirected it to a different bank account."

Not the same thing at all.
 

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That’s the person trying to cancel it. The bank can cancel it if they need to due to the money not really being there


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No they cannot, and will not. The account holder who deposited the cheque and then sent the money is the one on the hook.
 
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Ok. Well I KNOW this, but my point was to warn you about it’s lack of security. I don’t care if you’re convinced or not. This isn’t some news report that I am referencing to know, it’s personal. And it was the receiving person who had to pay because the originating person’s account is a “throw away”.

I still accept email transfers, but only if I have info about the person that can be tracked in the “real” world that can be given to police or collected on somehow.


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