Bank of America has lost Zelle transfers for many customers

Post by raincom » Thu, Jan 19, 2023, 3:53 AM UTC

costco wrote: post #349

snotrockets wrote: post #260

Earlier quoted context omitted.

Wire transfers are also reversible. It may not be easy or cheap to do so, but it is possible (the Citigroup $500mm mispayment is a great example: the error was done August 2020, and Citigroup are still working to undo it, at an expense to them. I'm certain it'll take them a few more months, and God only knows how many more billable hours at the very least).

Is it still reversible when the money is sent to Turkey or Kazakhstan and tracing and investigating the ultimate destination of where it went (likely to a bunch of bank accounts set up by nominees or stolen identities and ultimately to Binance or the local equivalent) would require almost as much money as the loss?

Post by krferriter » Thu, Jan 19, 2023, 4:25 AM UTC

basch wrote: post #278

krferriter wrote: post #198

Earlier quoted context omitted.

Does Meta Pay have a checking account as part of each account that you can withdraw from directly via an ATM? Or does Meta Pay need to transfer the money into a 3rd party checking account that you can then withdraw from? That second step may not be instantaneous, depending on which bank the account is at.

there's no account. its just your checking account. and their checking account. facebook fronts the money, deposits it as a non pending transaction. then it takes your money. ive done it with multiple people at multiple banks. its never been more than minutes.

Post by kbelder » Thu, Jan 19, 2023, 5:45 AM UTC

cuteboy19 wrote: post #337

courgette wrote: post #316

Earlier quoted context omitted.

Just as a aside : the US is the only country I’ve been where the relationship with credit card is so … relaxed. My first week here, my conclusion was that people must be either really honest, and that you get refunded routinely.

Refunded routinely is the answer btw

Post by cuteboy19 » Thu, Jan 19, 2023, 7:18 AM UTC

whartung wrote: post #176

I guess I'll be the lone voice in the wilderness. We've been perfectly happy with Zelle. We use it a couple times a month to pay service providers, send money to family. Never had any issues with it, don't need an "app" for it, works with our normal bank stuff. Similarly, at the same time, we got a check recently from a settlement. We plonked it into our account, and it bounced. It was a large settlement (i.e. lots o…

Post by mikrotikker » Thu, Jan 19, 2023, 10:42 AM UTC

Spooky23 wrote: post #185

JumpCrisscross wrote: post #36

Earlier quoted context omitted.

> few grams of gold or silver I remember, a few years ago, Cupertino being targeted for burglaries because the Indian and Taiwanese immigrant populations had a penchant for storing wealth in gold and silver and cash under the mattress, respectively. The victims’ recovery rates and timelines were far poorer than these BofA customers’ will be.

That happens a lot in many segments of the population. When my uncle was detective, there were similar incidents among the orthodox Jewish community, as the cultural preference from the diamond trade was instant settlement. It’s also easier to move gold across borders. Many folks were hesitant to call the police which made it worse. Prepper people get targeted alot as well. One dude in my hometown was a victim of a h…