i had no idea that was possible. i've sold a few things on kijiji where the buyer paid with EMT. i'll have second thoughts now...
The OPPOSITE of this is happening to me right now. I accepted the funds, now the person who sent me the money is claiming "No I didn't!" and it is being reversed.it is irreversible in that the person who sent you the money can't reverse it once you've accepted the funds
so unless you are part of the fraud (and they can prove it) i don't think they can legally demand any money back.Always be careful when sending money
An Interac e-Transfer transaction cannot be reversed once the recipient of the funds has deposited the transfer. You must obtain a refund directly from the recipient. You can ask the recipient to send you an Interac e-Transfer for the refund amount.
Like using cash, you should send money transfers only to parties you know and trust. For most uses of the Interac e-Transfer service (sending money to family and friends, repaying IOUs, sending monetary gifts, etc.), you know the recipient well. For uses where you may not know the receiver well (e.g., online auction purchases), take the precautions you would take when making cash purchases. For auctions and online purchases, be sure to read and follow steps as recommended by operators of these websites to protect your money.
So reading between the lines here, are they accusing YOU of fraud? Did you con some people into sending you money? Maybe you "sold" something on kijiji.com and then sent them a brick instead of what you advertised?The OPPOSITE of this is happening to me right now. I accepted the funds, now the person who sent me the money is claiming "No I didn't!" and it is being reversed.
And I've already spent it, thinking what you said -- it was a gift that was NOT REVERSIBLE!!
If I was the bank, I might see some fraud in there. If the other people had the money, why didn't they buy the bag themselves?@i-rui : Thanks for the Interac quote. You make a good point. I will definitely say that.
@winwintoo: Well that's always nice to hear, that you think *I'M* the crook here; I have done no such thing. I have sold nothing. I have no commercial interests and nothing to sell. Some so-called friends sent money so that I could use it to help them buy a limited edition Valentino bag, I accepted their payment, bought it and gave it to one of them, now I'm hearing this.
I was also thinking, how in the world is it possible to claim fraud on email transfers? The bank should say to the sender, "no, I'm sorry. YOU were logged in on for online banking, you made the transfer, the security question YOU set up was answered correctly. You can't even claim fraud on an outside computer bc we always ask a security question for computers we don't recognize as your home computer, before letting you log onto online banking." Logically this fraud claim should be rejected.
I was told I could call the TD customer care ombudsman. I will say the interac quote. Anything else?
Glad to hear it worked out OK for you. Hope they nab the crooks as they will do this again.These people are no longer my friends. If I ever saw them again, I would not even talk to them. But I doubt they will dare contact me, they know what they did.
Yeah, I guess fraud does trump all. In the end it all worked out, but I'm not sure why. They said they will close my account, and I don't have to pay back the $3000. I guess it costs TD too much to prove that I was in on it, so they let this one go. As a result I don't have to pay from my own pocket.
Sorry guys about the weird post, I was stressed about this topic and wanted to hear what you guys thought. But I didn't know any other forums. I had seen a similar thread in "Info Centre" so I posted to this one too.
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On a somewhat related tack I had a call from Microfraud today wanting the keys to my computer. Told him to give me his number and I would phone back, after checking it out with the RCMP. Can't understand why he hung up.
This hits close to home because the Credit Union I deal with just introduced Interac E-Transfer.Just wanted to seek any experts' opinion and see what can be done.
I recently received a few Interac E-Transfers from some friends I don't know so well, and before accepting the money, I called TD Bank to ask how it worked. TD said that it is fully secure, the money is first verified that it is in the seller's account and then once you accept the funds, it is fully your money, in your account, ready for use, and, most importantly, IRREVERSIBLE. I asked, "Are you sure it is irreversible? There is no way for the sender to get the money back?" and the TD operator said, "Yes, it is irreversible. The only way for the sender to get the money back is for YOU to manually send it back to them, otherwise it is YOUR money."
I withdrew and spent the money.
Now I received a call from TD saying that those were "fraudulent funds" and they will be reversed, and I will now owe them the amount. I said, "No way! I had expressly called you before accepting and a TD representative said that with an Interac E-Transfers, once I accept it, it becomes MY money, irreversible, and I expect TD to keep their word. There is no way I am bearing responsibility as a result of that statement being untrue."
So now they are saying that the decision is final and I either pay them back or they will go through a collections agency.
I can't get a hold of my "friends" anymore, and I'm furious that TD told me that it was irreversible and now it turns out, it is very much reversible. I don't want to be wrongfully chased by a collections agency. What can I do?
Thanks for posting that.Instead, it was "fraudulent funds" that was the problem, ie. the sender claimed "Oh no that wasn't me who sent that, I don't know who got access to my password, it wasn't me, I want the money back".