| Can a bank wire transfer bounce |
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birth
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In the past, l received a check from a company, but the check bounced.So rather than dealing with checks, l had them wire money to my bank account.The money arrived in my account this morning.Is there any chance that it could now bounce?Or is it treated as cash?
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Underground
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Once it is in your account, it can not be taken back. At least that is how it is at the bank l work at.
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Gerardo
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A wire transfer occurs only once the wire company received the funds. So, there you go. Once the money is in your account, only a court order can compel the return of the money. That is the advantage of cash or transfer of funds over a cheque. If it is not there, it is not given.
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pill
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A wire transfer is treated as cash, but it CAN be sent back to the sender if it is found to be fraudulent. If the wire transfer is found to be fraudulent in any way (i.e, part of a scam or illegal), the bank that sent the transfer will request to have the money sent back to them. If the money has already been withdrawn from the receiver is account, the receiving bank will send back what is still available & can flag ur account to recover those funds in the future. It can become a huge mess & can cause u legal issues as well. Your safest bet is to wait about 3 business days before touching the funds.
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