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How do scammers retract money, while you can’t?


“Infinite Banking” or “Be Your Own Bank” via Whole Life Insurance…where to start?Is this reply promising a money order and cashier check a scam?How do scammers / money launderers profit from loans to victims?Is this a scam or not?Can I make my online transactions secure in the USA, when paying using bank account details or debit card details?Scammer sent money to my account. What should I do?How to withdraw large sum of money at onceHow safe is my money with BankA man wants to send me moneyhow does this scam work













41















I see a lot of question about scams with the same premises :



  1. someone put money in your account.


  2. you send money somewhere.


  3. they take their money back, while you lost your money.


I dont know a whole lot about banking and money transfers, but it seems odd to me that they can retract money back while you cant do that.



Can someone explain this?










share|improve this question









New contributor




darnok is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
























    41















    I see a lot of question about scams with the same premises :



    1. someone put money in your account.


    2. you send money somewhere.


    3. they take their money back, while you lost your money.


    I dont know a whole lot about banking and money transfers, but it seems odd to me that they can retract money back while you cant do that.



    Can someone explain this?










    share|improve this question









    New contributor




    darnok is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
    Check out our Code of Conduct.






















      41












      41








      41


      3






      I see a lot of question about scams with the same premises :



      1. someone put money in your account.


      2. you send money somewhere.


      3. they take their money back, while you lost your money.


      I dont know a whole lot about banking and money transfers, but it seems odd to me that they can retract money back while you cant do that.



      Can someone explain this?










      share|improve this question









      New contributor




      darnok is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
      Check out our Code of Conduct.












      I see a lot of question about scams with the same premises :



      1. someone put money in your account.


      2. you send money somewhere.


      3. they take their money back, while you lost your money.


      I dont know a whole lot about banking and money transfers, but it seems odd to me that they can retract money back while you cant do that.



      Can someone explain this?







      banking scams






      share|improve this question









      New contributor




      darnok is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
      Check out our Code of Conduct.











      share|improve this question









      New contributor




      darnok is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
      Check out our Code of Conduct.









      share|improve this question




      share|improve this question








      edited 8 hours ago









      Ben Miller

      81.2k20222290




      81.2k20222290






      New contributor




      darnok is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
      Check out our Code of Conduct.









      asked 9 hours ago









      darnokdarnok

      30123




      30123




      New contributor




      darnok is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
      Check out our Code of Conduct.





      New contributor





      darnok is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
      Check out our Code of Conduct.






      darnok is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
      Check out our Code of Conduct.




















          4 Answers
          4






          active

          oldest

          votes


















          52














          Here’s what happens:



          When you thought the scammer deposited money in your account, it didn’t really happen. It was essentially fake money. This could happen in a few different ways. It could be that the scammer gave you a bad/fake check, which isn’t discovered until several days after you deposited it. Banks don’t know for sure if checks are good until they send it on to the issuing bank. As a courtesy, your bank will assume it is good as soon as you deposit it and credit your account immediately, but if the check turns out to be bad, they will withdraw that amount back from your account, and if you have already spent that money, the bank will want you to pay it back. There is also an electronic version of this scenario: If you are electronically sent money from an account by mistake or an account that was hacked, this can be reversed.



          On the other side of the scam, when you send money out of your account to the scammer, you are doing so willingly, even if you were tricked into doing so. You went to the bank and withdrew the cash, or you wrote the check, or you initiated the electronic transfer out. Your account was not hijacked; you told the bank what you wanted to do with your account. You can’t normally just change your mind after the fact.



          If the scammer took control of your account electronically and stole the money, or the scammer forged a check without your knowledge, you would generally be able to get your money back from the bank. But if you willingly hand money over to the scammer, you will need to go after the scammer to get your money back.






          share|improve this answer




















          • 18





            Isn't that courtesy from the bank a major security flaw? Surely in an era of high frequency trading it should not take more than some seconds to verify the originating account?

            – gerrit
            8 hours ago







          • 11





            @gerrit It depends on how you look at it. Once upon a time, banks used to have waiting periods for checks: when you deposited a check, banks used to wait several days before crediting your account. It wasn’t a popular policy, and of course by doing that you lose out on interest you would have earned on your deposit over those days. I’ve had a bank account my whole life, and I’ve never deposited a bad check; I wouldn’t like it if my bank made me wait for my money.

            – Ben Miller
            7 hours ago






          • 4





            @gerrit Instead, it is up to you to determine if the check you have is suspect or not. If you have reason to believe the check might not be good, you can deposit it and wait a week or two before spending the money. That way, if the check turns out to be bad, there is no problem.

            – Ben Miller
            7 hours ago






          • 3





            They probably mean exactly what they said. @9ilsdx9rvj0lo Depositing money into someone else's bank account is something that anyone can do. You could go into my bank and tell them that you want to deposit money into my account. They do not care, because there is no reason to stop such a transaction; it doesn't hurt me. My mother actually did this once when she owed me money and we couldn't meet for a while, she just went to my bank and deposited into my account. My employer does it every week. In the scams, the scammer may have your bank number too which makes it easier for them.

            – Aaron
            6 hours ago






          • 2





            @gerrit A bank real business is to manage risk. They are also a company that has to please customers else they take their money elsewhere. Balancing the pros of releasing the money immediately and making the client happy with the cons of maybe doing a withdraw to retrieve in the rare case it is a bad check, the bank decided that happy clients give the bank more money than it loses with frauds and angry clients that were charged back.

            – Mindwin
            6 hours ago


















          21














          Some payment methods people are able to cancel, some not.



          This scam works by sending you money via one that can such as a check, followed by you sending them money back via one that can't, typically Western Union, cash in person or via crypto etc.



          They then cancel the money you got, leaving you out of pocket and with no way to cancel the money you gave away.






          share|improve this answer




















          • 1





            I would assume that, along these lines, that there is a limited time to cancel on cancelable payments. The scammer does so right away, where the mark is reacting which may be to late.

            – Pete B.
            8 hours ago


















          3














          Sometimes the scammer doesn't even need to intentionally cancel the original payment. They might send you a check, which you deposit in your account. Your bank accepts the check and it may even post to your account because the bank assumes that it is legitimate (and it does appear that way at first). A couple days/weeks later the bank finds out that the account tied to the check does not exist or doesn't have any money in it, and they reverse the deposit.



          Other times, the scammer requires you (the scammee?) to send them payment via a non-reversible method, like Philip stated.






          share|improve this answer
































            0














            The only entity who can rewert done money transfer is the bank itself, and they will do it only if there was something very wrong with the transfer itself, for example transfer resulted from system failure or the money came from criminal activity (from the account, that was closed by the law enforcement).



            However, if you send the money from your bank account that is not blacklisted and contains legitimate money, so there's no reason to cancel that transfer.



            Well, if your account was used to wash money, it might be blacklisted then, but you'd loose your money anyway, and the money sent to another account was most likely taken out.



            Notice that it's a money washing schema. Criminals can't revert done money transfer on their own, and they have no interest in having their accounts confiscated by the police, so reverting the transfer is only a side effect (and most likely, only the beginning of your transfer).






            share|improve this answer








            New contributor




            9ilsdx 9rvj 0lo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
            Check out our Code of Conduct.


















              protected by JoeTaxpayer♦ 7 hours ago



              Thank you for your interest in this question.
              Because it has attracted low-quality or spam answers that had to be removed, posting an answer now requires 10 reputation on this site (the association bonus does not count).



              Would you like to answer one of these unanswered questions instead?














              4 Answers
              4






              active

              oldest

              votes








              4 Answers
              4






              active

              oldest

              votes









              active

              oldest

              votes






              active

              oldest

              votes









              52














              Here’s what happens:



              When you thought the scammer deposited money in your account, it didn’t really happen. It was essentially fake money. This could happen in a few different ways. It could be that the scammer gave you a bad/fake check, which isn’t discovered until several days after you deposited it. Banks don’t know for sure if checks are good until they send it on to the issuing bank. As a courtesy, your bank will assume it is good as soon as you deposit it and credit your account immediately, but if the check turns out to be bad, they will withdraw that amount back from your account, and if you have already spent that money, the bank will want you to pay it back. There is also an electronic version of this scenario: If you are electronically sent money from an account by mistake or an account that was hacked, this can be reversed.



              On the other side of the scam, when you send money out of your account to the scammer, you are doing so willingly, even if you were tricked into doing so. You went to the bank and withdrew the cash, or you wrote the check, or you initiated the electronic transfer out. Your account was not hijacked; you told the bank what you wanted to do with your account. You can’t normally just change your mind after the fact.



              If the scammer took control of your account electronically and stole the money, or the scammer forged a check without your knowledge, you would generally be able to get your money back from the bank. But if you willingly hand money over to the scammer, you will need to go after the scammer to get your money back.






              share|improve this answer




















              • 18





                Isn't that courtesy from the bank a major security flaw? Surely in an era of high frequency trading it should not take more than some seconds to verify the originating account?

                – gerrit
                8 hours ago







              • 11





                @gerrit It depends on how you look at it. Once upon a time, banks used to have waiting periods for checks: when you deposited a check, banks used to wait several days before crediting your account. It wasn’t a popular policy, and of course by doing that you lose out on interest you would have earned on your deposit over those days. I’ve had a bank account my whole life, and I’ve never deposited a bad check; I wouldn’t like it if my bank made me wait for my money.

                – Ben Miller
                7 hours ago






              • 4





                @gerrit Instead, it is up to you to determine if the check you have is suspect or not. If you have reason to believe the check might not be good, you can deposit it and wait a week or two before spending the money. That way, if the check turns out to be bad, there is no problem.

                – Ben Miller
                7 hours ago






              • 3





                They probably mean exactly what they said. @9ilsdx9rvj0lo Depositing money into someone else's bank account is something that anyone can do. You could go into my bank and tell them that you want to deposit money into my account. They do not care, because there is no reason to stop such a transaction; it doesn't hurt me. My mother actually did this once when she owed me money and we couldn't meet for a while, she just went to my bank and deposited into my account. My employer does it every week. In the scams, the scammer may have your bank number too which makes it easier for them.

                – Aaron
                6 hours ago






              • 2





                @gerrit A bank real business is to manage risk. They are also a company that has to please customers else they take their money elsewhere. Balancing the pros of releasing the money immediately and making the client happy with the cons of maybe doing a withdraw to retrieve in the rare case it is a bad check, the bank decided that happy clients give the bank more money than it loses with frauds and angry clients that were charged back.

                – Mindwin
                6 hours ago















              52














              Here’s what happens:



              When you thought the scammer deposited money in your account, it didn’t really happen. It was essentially fake money. This could happen in a few different ways. It could be that the scammer gave you a bad/fake check, which isn’t discovered until several days after you deposited it. Banks don’t know for sure if checks are good until they send it on to the issuing bank. As a courtesy, your bank will assume it is good as soon as you deposit it and credit your account immediately, but if the check turns out to be bad, they will withdraw that amount back from your account, and if you have already spent that money, the bank will want you to pay it back. There is also an electronic version of this scenario: If you are electronically sent money from an account by mistake or an account that was hacked, this can be reversed.



              On the other side of the scam, when you send money out of your account to the scammer, you are doing so willingly, even if you were tricked into doing so. You went to the bank and withdrew the cash, or you wrote the check, or you initiated the electronic transfer out. Your account was not hijacked; you told the bank what you wanted to do with your account. You can’t normally just change your mind after the fact.



              If the scammer took control of your account electronically and stole the money, or the scammer forged a check without your knowledge, you would generally be able to get your money back from the bank. But if you willingly hand money over to the scammer, you will need to go after the scammer to get your money back.






              share|improve this answer




















              • 18





                Isn't that courtesy from the bank a major security flaw? Surely in an era of high frequency trading it should not take more than some seconds to verify the originating account?

                – gerrit
                8 hours ago







              • 11





                @gerrit It depends on how you look at it. Once upon a time, banks used to have waiting periods for checks: when you deposited a check, banks used to wait several days before crediting your account. It wasn’t a popular policy, and of course by doing that you lose out on interest you would have earned on your deposit over those days. I’ve had a bank account my whole life, and I’ve never deposited a bad check; I wouldn’t like it if my bank made me wait for my money.

                – Ben Miller
                7 hours ago






              • 4





                @gerrit Instead, it is up to you to determine if the check you have is suspect or not. If you have reason to believe the check might not be good, you can deposit it and wait a week or two before spending the money. That way, if the check turns out to be bad, there is no problem.

                – Ben Miller
                7 hours ago






              • 3





                They probably mean exactly what they said. @9ilsdx9rvj0lo Depositing money into someone else's bank account is something that anyone can do. You could go into my bank and tell them that you want to deposit money into my account. They do not care, because there is no reason to stop such a transaction; it doesn't hurt me. My mother actually did this once when she owed me money and we couldn't meet for a while, she just went to my bank and deposited into my account. My employer does it every week. In the scams, the scammer may have your bank number too which makes it easier for them.

                – Aaron
                6 hours ago






              • 2





                @gerrit A bank real business is to manage risk. They are also a company that has to please customers else they take their money elsewhere. Balancing the pros of releasing the money immediately and making the client happy with the cons of maybe doing a withdraw to retrieve in the rare case it is a bad check, the bank decided that happy clients give the bank more money than it loses with frauds and angry clients that were charged back.

                – Mindwin
                6 hours ago













              52












              52








              52







              Here’s what happens:



              When you thought the scammer deposited money in your account, it didn’t really happen. It was essentially fake money. This could happen in a few different ways. It could be that the scammer gave you a bad/fake check, which isn’t discovered until several days after you deposited it. Banks don’t know for sure if checks are good until they send it on to the issuing bank. As a courtesy, your bank will assume it is good as soon as you deposit it and credit your account immediately, but if the check turns out to be bad, they will withdraw that amount back from your account, and if you have already spent that money, the bank will want you to pay it back. There is also an electronic version of this scenario: If you are electronically sent money from an account by mistake or an account that was hacked, this can be reversed.



              On the other side of the scam, when you send money out of your account to the scammer, you are doing so willingly, even if you were tricked into doing so. You went to the bank and withdrew the cash, or you wrote the check, or you initiated the electronic transfer out. Your account was not hijacked; you told the bank what you wanted to do with your account. You can’t normally just change your mind after the fact.



              If the scammer took control of your account electronically and stole the money, or the scammer forged a check without your knowledge, you would generally be able to get your money back from the bank. But if you willingly hand money over to the scammer, you will need to go after the scammer to get your money back.






              share|improve this answer















              Here’s what happens:



              When you thought the scammer deposited money in your account, it didn’t really happen. It was essentially fake money. This could happen in a few different ways. It could be that the scammer gave you a bad/fake check, which isn’t discovered until several days after you deposited it. Banks don’t know for sure if checks are good until they send it on to the issuing bank. As a courtesy, your bank will assume it is good as soon as you deposit it and credit your account immediately, but if the check turns out to be bad, they will withdraw that amount back from your account, and if you have already spent that money, the bank will want you to pay it back. There is also an electronic version of this scenario: If you are electronically sent money from an account by mistake or an account that was hacked, this can be reversed.



              On the other side of the scam, when you send money out of your account to the scammer, you are doing so willingly, even if you were tricked into doing so. You went to the bank and withdrew the cash, or you wrote the check, or you initiated the electronic transfer out. Your account was not hijacked; you told the bank what you wanted to do with your account. You can’t normally just change your mind after the fact.



              If the scammer took control of your account electronically and stole the money, or the scammer forged a check without your knowledge, you would generally be able to get your money back from the bank. But if you willingly hand money over to the scammer, you will need to go after the scammer to get your money back.







              share|improve this answer














              share|improve this answer



              share|improve this answer








              edited 8 hours ago

























              answered 8 hours ago









              Ben MillerBen Miller

              81.2k20222290




              81.2k20222290







              • 18





                Isn't that courtesy from the bank a major security flaw? Surely in an era of high frequency trading it should not take more than some seconds to verify the originating account?

                – gerrit
                8 hours ago







              • 11





                @gerrit It depends on how you look at it. Once upon a time, banks used to have waiting periods for checks: when you deposited a check, banks used to wait several days before crediting your account. It wasn’t a popular policy, and of course by doing that you lose out on interest you would have earned on your deposit over those days. I’ve had a bank account my whole life, and I’ve never deposited a bad check; I wouldn’t like it if my bank made me wait for my money.

                – Ben Miller
                7 hours ago






              • 4





                @gerrit Instead, it is up to you to determine if the check you have is suspect or not. If you have reason to believe the check might not be good, you can deposit it and wait a week or two before spending the money. That way, if the check turns out to be bad, there is no problem.

                – Ben Miller
                7 hours ago






              • 3





                They probably mean exactly what they said. @9ilsdx9rvj0lo Depositing money into someone else's bank account is something that anyone can do. You could go into my bank and tell them that you want to deposit money into my account. They do not care, because there is no reason to stop such a transaction; it doesn't hurt me. My mother actually did this once when she owed me money and we couldn't meet for a while, she just went to my bank and deposited into my account. My employer does it every week. In the scams, the scammer may have your bank number too which makes it easier for them.

                – Aaron
                6 hours ago






              • 2





                @gerrit A bank real business is to manage risk. They are also a company that has to please customers else they take their money elsewhere. Balancing the pros of releasing the money immediately and making the client happy with the cons of maybe doing a withdraw to retrieve in the rare case it is a bad check, the bank decided that happy clients give the bank more money than it loses with frauds and angry clients that were charged back.

                – Mindwin
                6 hours ago












              • 18





                Isn't that courtesy from the bank a major security flaw? Surely in an era of high frequency trading it should not take more than some seconds to verify the originating account?

                – gerrit
                8 hours ago







              • 11





                @gerrit It depends on how you look at it. Once upon a time, banks used to have waiting periods for checks: when you deposited a check, banks used to wait several days before crediting your account. It wasn’t a popular policy, and of course by doing that you lose out on interest you would have earned on your deposit over those days. I’ve had a bank account my whole life, and I’ve never deposited a bad check; I wouldn’t like it if my bank made me wait for my money.

                – Ben Miller
                7 hours ago






              • 4





                @gerrit Instead, it is up to you to determine if the check you have is suspect or not. If you have reason to believe the check might not be good, you can deposit it and wait a week or two before spending the money. That way, if the check turns out to be bad, there is no problem.

                – Ben Miller
                7 hours ago






              • 3





                They probably mean exactly what they said. @9ilsdx9rvj0lo Depositing money into someone else's bank account is something that anyone can do. You could go into my bank and tell them that you want to deposit money into my account. They do not care, because there is no reason to stop such a transaction; it doesn't hurt me. My mother actually did this once when she owed me money and we couldn't meet for a while, she just went to my bank and deposited into my account. My employer does it every week. In the scams, the scammer may have your bank number too which makes it easier for them.

                – Aaron
                6 hours ago






              • 2





                @gerrit A bank real business is to manage risk. They are also a company that has to please customers else they take their money elsewhere. Balancing the pros of releasing the money immediately and making the client happy with the cons of maybe doing a withdraw to retrieve in the rare case it is a bad check, the bank decided that happy clients give the bank more money than it loses with frauds and angry clients that were charged back.

                – Mindwin
                6 hours ago







              18




              18





              Isn't that courtesy from the bank a major security flaw? Surely in an era of high frequency trading it should not take more than some seconds to verify the originating account?

              – gerrit
              8 hours ago






              Isn't that courtesy from the bank a major security flaw? Surely in an era of high frequency trading it should not take more than some seconds to verify the originating account?

              – gerrit
              8 hours ago





              11




              11





              @gerrit It depends on how you look at it. Once upon a time, banks used to have waiting periods for checks: when you deposited a check, banks used to wait several days before crediting your account. It wasn’t a popular policy, and of course by doing that you lose out on interest you would have earned on your deposit over those days. I’ve had a bank account my whole life, and I’ve never deposited a bad check; I wouldn’t like it if my bank made me wait for my money.

              – Ben Miller
              7 hours ago





              @gerrit It depends on how you look at it. Once upon a time, banks used to have waiting periods for checks: when you deposited a check, banks used to wait several days before crediting your account. It wasn’t a popular policy, and of course by doing that you lose out on interest you would have earned on your deposit over those days. I’ve had a bank account my whole life, and I’ve never deposited a bad check; I wouldn’t like it if my bank made me wait for my money.

              – Ben Miller
              7 hours ago




              4




              4





              @gerrit Instead, it is up to you to determine if the check you have is suspect or not. If you have reason to believe the check might not be good, you can deposit it and wait a week or two before spending the money. That way, if the check turns out to be bad, there is no problem.

              – Ben Miller
              7 hours ago





              @gerrit Instead, it is up to you to determine if the check you have is suspect or not. If you have reason to believe the check might not be good, you can deposit it and wait a week or two before spending the money. That way, if the check turns out to be bad, there is no problem.

              – Ben Miller
              7 hours ago




              3




              3





              They probably mean exactly what they said. @9ilsdx9rvj0lo Depositing money into someone else's bank account is something that anyone can do. You could go into my bank and tell them that you want to deposit money into my account. They do not care, because there is no reason to stop such a transaction; it doesn't hurt me. My mother actually did this once when she owed me money and we couldn't meet for a while, she just went to my bank and deposited into my account. My employer does it every week. In the scams, the scammer may have your bank number too which makes it easier for them.

              – Aaron
              6 hours ago





              They probably mean exactly what they said. @9ilsdx9rvj0lo Depositing money into someone else's bank account is something that anyone can do. You could go into my bank and tell them that you want to deposit money into my account. They do not care, because there is no reason to stop such a transaction; it doesn't hurt me. My mother actually did this once when she owed me money and we couldn't meet for a while, she just went to my bank and deposited into my account. My employer does it every week. In the scams, the scammer may have your bank number too which makes it easier for them.

              – Aaron
              6 hours ago




              2




              2





              @gerrit A bank real business is to manage risk. They are also a company that has to please customers else they take their money elsewhere. Balancing the pros of releasing the money immediately and making the client happy with the cons of maybe doing a withdraw to retrieve in the rare case it is a bad check, the bank decided that happy clients give the bank more money than it loses with frauds and angry clients that were charged back.

              – Mindwin
              6 hours ago





              @gerrit A bank real business is to manage risk. They are also a company that has to please customers else they take their money elsewhere. Balancing the pros of releasing the money immediately and making the client happy with the cons of maybe doing a withdraw to retrieve in the rare case it is a bad check, the bank decided that happy clients give the bank more money than it loses with frauds and angry clients that were charged back.

              – Mindwin
              6 hours ago













              21














              Some payment methods people are able to cancel, some not.



              This scam works by sending you money via one that can such as a check, followed by you sending them money back via one that can't, typically Western Union, cash in person or via crypto etc.



              They then cancel the money you got, leaving you out of pocket and with no way to cancel the money you gave away.






              share|improve this answer




















              • 1





                I would assume that, along these lines, that there is a limited time to cancel on cancelable payments. The scammer does so right away, where the mark is reacting which may be to late.

                – Pete B.
                8 hours ago















              21














              Some payment methods people are able to cancel, some not.



              This scam works by sending you money via one that can such as a check, followed by you sending them money back via one that can't, typically Western Union, cash in person or via crypto etc.



              They then cancel the money you got, leaving you out of pocket and with no way to cancel the money you gave away.






              share|improve this answer




















              • 1





                I would assume that, along these lines, that there is a limited time to cancel on cancelable payments. The scammer does so right away, where the mark is reacting which may be to late.

                – Pete B.
                8 hours ago













              21












              21








              21







              Some payment methods people are able to cancel, some not.



              This scam works by sending you money via one that can such as a check, followed by you sending them money back via one that can't, typically Western Union, cash in person or via crypto etc.



              They then cancel the money you got, leaving you out of pocket and with no way to cancel the money you gave away.






              share|improve this answer















              Some payment methods people are able to cancel, some not.



              This scam works by sending you money via one that can such as a check, followed by you sending them money back via one that can't, typically Western Union, cash in person or via crypto etc.



              They then cancel the money you got, leaving you out of pocket and with no way to cancel the money you gave away.







              share|improve this answer














              share|improve this answer



              share|improve this answer








              edited 8 hours ago

























              answered 9 hours ago









              PhilipPhilip

              2,348514




              2,348514







              • 1





                I would assume that, along these lines, that there is a limited time to cancel on cancelable payments. The scammer does so right away, where the mark is reacting which may be to late.

                – Pete B.
                8 hours ago












              • 1





                I would assume that, along these lines, that there is a limited time to cancel on cancelable payments. The scammer does so right away, where the mark is reacting which may be to late.

                – Pete B.
                8 hours ago







              1




              1





              I would assume that, along these lines, that there is a limited time to cancel on cancelable payments. The scammer does so right away, where the mark is reacting which may be to late.

              – Pete B.
              8 hours ago





              I would assume that, along these lines, that there is a limited time to cancel on cancelable payments. The scammer does so right away, where the mark is reacting which may be to late.

              – Pete B.
              8 hours ago











              3














              Sometimes the scammer doesn't even need to intentionally cancel the original payment. They might send you a check, which you deposit in your account. Your bank accepts the check and it may even post to your account because the bank assumes that it is legitimate (and it does appear that way at first). A couple days/weeks later the bank finds out that the account tied to the check does not exist or doesn't have any money in it, and they reverse the deposit.



              Other times, the scammer requires you (the scammee?) to send them payment via a non-reversible method, like Philip stated.






              share|improve this answer





























                3














                Sometimes the scammer doesn't even need to intentionally cancel the original payment. They might send you a check, which you deposit in your account. Your bank accepts the check and it may even post to your account because the bank assumes that it is legitimate (and it does appear that way at first). A couple days/weeks later the bank finds out that the account tied to the check does not exist or doesn't have any money in it, and they reverse the deposit.



                Other times, the scammer requires you (the scammee?) to send them payment via a non-reversible method, like Philip stated.






                share|improve this answer



























                  3












                  3








                  3







                  Sometimes the scammer doesn't even need to intentionally cancel the original payment. They might send you a check, which you deposit in your account. Your bank accepts the check and it may even post to your account because the bank assumes that it is legitimate (and it does appear that way at first). A couple days/weeks later the bank finds out that the account tied to the check does not exist or doesn't have any money in it, and they reverse the deposit.



                  Other times, the scammer requires you (the scammee?) to send them payment via a non-reversible method, like Philip stated.






                  share|improve this answer















                  Sometimes the scammer doesn't even need to intentionally cancel the original payment. They might send you a check, which you deposit in your account. Your bank accepts the check and it may even post to your account because the bank assumes that it is legitimate (and it does appear that way at first). A couple days/weeks later the bank finds out that the account tied to the check does not exist or doesn't have any money in it, and they reverse the deposit.



                  Other times, the scammer requires you (the scammee?) to send them payment via a non-reversible method, like Philip stated.







                  share|improve this answer














                  share|improve this answer



                  share|improve this answer








                  edited 6 hours ago









                  yoozer8

                  2,16341123




                  2,16341123










                  answered 8 hours ago









                  NosjackNosjack

                  69117




                  69117





















                      0














                      The only entity who can rewert done money transfer is the bank itself, and they will do it only if there was something very wrong with the transfer itself, for example transfer resulted from system failure or the money came from criminal activity (from the account, that was closed by the law enforcement).



                      However, if you send the money from your bank account that is not blacklisted and contains legitimate money, so there's no reason to cancel that transfer.



                      Well, if your account was used to wash money, it might be blacklisted then, but you'd loose your money anyway, and the money sent to another account was most likely taken out.



                      Notice that it's a money washing schema. Criminals can't revert done money transfer on their own, and they have no interest in having their accounts confiscated by the police, so reverting the transfer is only a side effect (and most likely, only the beginning of your transfer).






                      share|improve this answer








                      New contributor




                      9ilsdx 9rvj 0lo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
                      Check out our Code of Conduct.
























                        0














                        The only entity who can rewert done money transfer is the bank itself, and they will do it only if there was something very wrong with the transfer itself, for example transfer resulted from system failure or the money came from criminal activity (from the account, that was closed by the law enforcement).



                        However, if you send the money from your bank account that is not blacklisted and contains legitimate money, so there's no reason to cancel that transfer.



                        Well, if your account was used to wash money, it might be blacklisted then, but you'd loose your money anyway, and the money sent to another account was most likely taken out.



                        Notice that it's a money washing schema. Criminals can't revert done money transfer on their own, and they have no interest in having their accounts confiscated by the police, so reverting the transfer is only a side effect (and most likely, only the beginning of your transfer).






                        share|improve this answer








                        New contributor




                        9ilsdx 9rvj 0lo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
                        Check out our Code of Conduct.






















                          0












                          0








                          0







                          The only entity who can rewert done money transfer is the bank itself, and they will do it only if there was something very wrong with the transfer itself, for example transfer resulted from system failure or the money came from criminal activity (from the account, that was closed by the law enforcement).



                          However, if you send the money from your bank account that is not blacklisted and contains legitimate money, so there's no reason to cancel that transfer.



                          Well, if your account was used to wash money, it might be blacklisted then, but you'd loose your money anyway, and the money sent to another account was most likely taken out.



                          Notice that it's a money washing schema. Criminals can't revert done money transfer on their own, and they have no interest in having their accounts confiscated by the police, so reverting the transfer is only a side effect (and most likely, only the beginning of your transfer).






                          share|improve this answer








                          New contributor




                          9ilsdx 9rvj 0lo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
                          Check out our Code of Conduct.










                          The only entity who can rewert done money transfer is the bank itself, and they will do it only if there was something very wrong with the transfer itself, for example transfer resulted from system failure or the money came from criminal activity (from the account, that was closed by the law enforcement).



                          However, if you send the money from your bank account that is not blacklisted and contains legitimate money, so there's no reason to cancel that transfer.



                          Well, if your account was used to wash money, it might be blacklisted then, but you'd loose your money anyway, and the money sent to another account was most likely taken out.



                          Notice that it's a money washing schema. Criminals can't revert done money transfer on their own, and they have no interest in having their accounts confiscated by the police, so reverting the transfer is only a side effect (and most likely, only the beginning of your transfer).







                          share|improve this answer








                          New contributor




                          9ilsdx 9rvj 0lo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
                          Check out our Code of Conduct.









                          share|improve this answer



                          share|improve this answer






                          New contributor




                          9ilsdx 9rvj 0lo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
                          Check out our Code of Conduct.









                          answered 7 hours ago









                          9ilsdx 9rvj 0lo9ilsdx 9rvj 0lo

                          101




                          101




                          New contributor




                          9ilsdx 9rvj 0lo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
                          Check out our Code of Conduct.





                          New contributor





                          9ilsdx 9rvj 0lo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
                          Check out our Code of Conduct.






                          9ilsdx 9rvj 0lo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
                          Check out our Code of Conduct.















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