Strange Bank of America transaction following trip to Italy
May 22nd, 2006, 10:50 AM
#22
Join Date: Apr 2003
Posts: 19,419
Likes: 0
Received 0 Likes
on
0 Posts
"Typically they need special authorization for a wire transfer to occur." - WRONG!!!!!!
Somewhere in my accounting manuals I found that one electronic withdrawal is allowed without authorization, the procedure is EFT - electronic funds transfer.
That's why we all are advised not to give out your bank account number over the phone to all kind of telemarketers. IT'S NOT SAFE!
Somewhere in my accounting manuals I found that one electronic withdrawal is allowed without authorization, the procedure is EFT - electronic funds transfer.
That's why we all are advised not to give out your bank account number over the phone to all kind of telemarketers. IT'S NOT SAFE!
May 22nd, 2006, 11:42 AM
#24
Join Date: Jul 2003
Posts: 883
Likes: 0
Received 0 Likes
on
0 Posts
Hi kismetchimera, I don't think she meant to slander the establishment; cantstayhome stated that she was not sure the restaurant was at fault. Marie (politely) asked her name the restaurant as she would like to avoid it. I would too; the service cantstayhome received was rude and there are too many other nice places to eat - why waste your time and money on people with bad manners? Anyway, I don't think there was harm dome by mentioning the restaurant in the context that she did.
May 22nd, 2006, 12:08 PM
#25
Join Date: Jan 2003
Posts: 2,049
Likes: 0
Received 0 Likes
on
0 Posts
My objection to the OP "naming" the offending establishment is that she really didn't. All we know from her posting is that somewhere in Italy there is an establishment named something like XXX where she felt she was treated rudely. To be useful, the information should have been much more precise.
May 22nd, 2006, 12:14 PM
#26
Join Date: May 2006
Posts: 12
Likes: 0
Received 0 Likes
on
0 Posts
Last summer when I was in Italy I had my bank account broken into as well. I got an email saying I had authorized the transaction for $1,000 to some middle eastern name I had never heard of. My bank ended up having to send me a new card and everything and reimbursed the money a few weeks later. It was stressful though, still no idea how it happened. Never even lost my card.
May 22nd, 2006, 12:25 PM
#27
Join Date: Feb 2003
Posts: 5,579
Likes: 0
Received 0 Likes
on
0 Posts
I'm sorry, FainaAgain, a wire transfer is NOT the same as an EFT. Check the BankAmerica website and you will find there are significant fees for a wire transfer - an outgoing domestic wire is $20 and international is $45 or $35 depending upon whether the currency is domestic or foreign. An incoming wire transfer has fees also.
The reason there are fees is that wire transfers are real time and labor intensive. Banks have special depts just for this. A frequent use of wire transfers is to settle large transactions in real estate where an individual in Mass is buying property in Montana.
The reason there are fees is that wire transfers are real time and labor intensive. Banks have special depts just for this. A frequent use of wire transfers is to settle large transactions in real estate where an individual in Mass is buying property in Montana.
May 22nd, 2006, 12:30 PM
#28
Join Date: Dec 2003
Posts: 696
Likes: 0
Received 0 Likes
on
0 Posts
recently my husband and I had to cancel or credit card due to fraud. Well, what we thought was fraud was actually the bill for computer equipment that haad been ordered two weeks previous and billed upon shipping. The name of the biller (?) was strange and we got a call from the cc company regarding the charge. since we were out of the country at the time we thought it best to cancel the cards.
nope- it was a legit charge!!
Hope this is the case for the OP too.
nope- it was a legit charge!!
Hope this is the case for the OP too.
May 22nd, 2006, 12:39 PM
#29
Join Date: Mar 2006
Posts: 572
Likes: 0
Received 0 Likes
on
0 Posts
cantstayhome, what ending up being the reason? I have had fraud twice on my debit card and never even lost it, so now I use it only when I can give a pin number; otherwise, I use AMEX or Visa. Plain old cash works well too! How frustrating for you. Let us know.
May 23rd, 2006, 01:21 PM
#33
Original Poster
Join Date: Feb 2006
Posts: 488
Likes: 0
Received 0 Likes
on
0 Posts
Wow, so much interest! Sorry to keep those interested waiting and I still don't have a conclusive answer.
Yesterday was swamped at work and I spent my 10 minutes of tea time on entertainment here rather than calling BofA. When I finally got to a point where I could call today, I never managed to reach a person. May try going the personal route through my friendly banker who always helps me when I pop into the branch across the street, but that won't happen 'til Thursday, tomorrow's out. Will try to squeeze in a call if I can and promise to share the result.
As to kismetchimera's comment - I appreciate your concern (I do - I don't mean it sarcastically), but I feel comfortable with my statement that I was not accusing the named restaurant of having done anything financially improper and want to clarify that point in case anyone misconstrues what I did say. I have no knowledge or information indicating that it did so and am not accusing it of having done so. I am claiming, however, that we were the recipients of bad service and a rude waiter. Those are clearly statements of opinion and remain protected forms of speech under the 1st Amendment.
faina - spasibo. EFTs, however, show up on BofA account statement as EFTs, not wire transfers so it clearly treats them as different animals, even if the two may be treated the same mechanically where you are
highledge - it may be the case here, I just don't know yet, but I did smile over that
jsmith - are you cyberstalking me
guilty as charged for posting twice yesterday - suspected the BofA call would take longer than my entertainment time for the morning and be much less fun
We have someone in the office who needs to do wire transfers all the time for real estate transactions and it often seems that jumping through lots of hoops is required.
Will share when I know what the deal is.
Yesterday was swamped at work and I spent my 10 minutes of tea time on entertainment here rather than calling BofA. When I finally got to a point where I could call today, I never managed to reach a person. May try going the personal route through my friendly banker who always helps me when I pop into the branch across the street, but that won't happen 'til Thursday, tomorrow's out. Will try to squeeze in a call if I can and promise to share the result.
As to kismetchimera's comment - I appreciate your concern (I do - I don't mean it sarcastically), but I feel comfortable with my statement that I was not accusing the named restaurant of having done anything financially improper and want to clarify that point in case anyone misconstrues what I did say. I have no knowledge or information indicating that it did so and am not accusing it of having done so. I am claiming, however, that we were the recipients of bad service and a rude waiter. Those are clearly statements of opinion and remain protected forms of speech under the 1st Amendment.
faina - spasibo. EFTs, however, show up on BofA account statement as EFTs, not wire transfers so it clearly treats them as different animals, even if the two may be treated the same mechanically where you are
highledge - it may be the case here, I just don't know yet, but I did smile over that
jsmith - are you cyberstalking me
guilty as charged for posting twice yesterday - suspected the BofA call would take longer than my entertainment time for the morning and be much less funWe have someone in the office who needs to do wire transfers all the time for real estate transactions and it often seems that jumping through lots of hoops is required.
Will share when I know what the deal is.
