Can someone reverse an etransfer with auto deposit after you get a confirmation email?

[Sundancefisher]

Apparently some people can so beware.

https://www.cbc.ca/news/gopublic/etr...erac-1.6764431

I usually ask for cash when selling something. I have always confirmed the money went into my account before they leave.

[CNP]

If you see the money in your account it cannot be cancelled. The article is a little misleading. The recipient of the money did not confirm the money was in her account. She only looked at the banking app on the buyers phone that said the transfer was completed. The next step for the seller should be to check to see that the money is safely in their account. If it is, it cannot be cancelled...because there is nothing to cancel at that point.

[elkhunter11]

According to the article, the woman never checked to see that the money was actually deposited into her account, she only assumed that it was. Once your bank actually shows the money in your account, the emt sender can't remove it from your account.

[fishtank]

Always check to make sure it’s in your account first !! Scammer can use photoshop and edit that it look like it’s auto deposited .

[Au revoir, Gopher]

She says, on the call, a manager told her that e-transfers — even to accounts with autodeposit — can sometimes be cancelled, even up to 24 hours later.

If it takes 24 hours for an EMT to complete, it isn't very useful for for in person purchases.

ARG

[Savage Bacon]

She took the scamers word for it. Which I would say is her own fault.

This has nothing to do with auto deposit. He said he put the money in her account and she believed him without confirming the transaction was processed.

Too bad her 15 minutes of fame makes her look like an idiot.

I purchased a handgun from a store that just deals with etransfers. I waited about 20 minutes for him to see the money on his end before he would do the paperwork. And I had no issues at all with him waiting.

Sent from my SM-G970W using Tapatalk

[britman101]

Seems like auto deposit is the way to go. However as online thieves get more sophisticated banks are now saying that if you use the interac etransfer feature
try to use it amongst individuals you trust and know. If for whatever reason, a sale of a high priced item to a stranger goes sideways and the money sent goes missing getting that money back may take some time. And I am pretty sure the bank will be reluctant to reimburse the individual for the missing funds.

[ak77]

Originally Posted by Savage Bacon

She took the scamers word for it. Which I would say is her own fault.

This has nothing to do with auto deposit. He said he put the money in her account and she believed him without confirming the transaction was processed.

Too bad her 15 minutes of fame makes her look like an idiot.

I purchased a handgun from a store that just deals with etransfers. I waited about 20 minutes for him to see the money on his end before he would do the paperwork. And I had no issues at all with him waiting.

Sent from my SM-G970W using Tapatalk

it says there that the deposit WAS made, it was earmarked to go into her account, but was cancelled 90 mins after the fact. Only mistake she made was not to wait for the money to show up. And obviosuly it can take up to 90mins or even more for money to show up even with autodeposit.
GoPublic did the testing, and it is the thing. Now, if anything, her 15 mins of fame taught a bunch of people that it is possible to reverse the etransfer even with autodeposit option. Hold on to your hats/guns.

[Roderek]

Originally Posted by ak77

it says there that the deposit WAS made, it was earmarked to go into her account, but was cancelled 90 mins after the fact. Only mistake she made was not to wait for the money to show up. And obviosuly it can take up to 90mins or even more for money to show up even with autodeposit.
GoPublic did the testing, and it is the thing. Now, if anything, her 15 mins of fame taught a bunch of people that it is possible to reverse the etransfer even with autodeposit option. Hold on to your hats/guns.

And you can be sure that the scammers KNOW which banks will let them reverse E Transfers, so they can do this stuff.

[wallz]

With etransfers, there is sometimes a delay, depending on the situation.

I have had legitimate ones that have taken a few hours to go through. Something about coming from an account that was getting some more security scrutiny. It was a buyer trying to get me funds.

Once it is in your account, or their account; there is no way to cancel it, and no even a bank will not do it. Trust me, I have gone this route as I have been on a bad end of a scam.

I have auto deposit, yet have had several payments for purchases that I had to go through the app and actually deposit, like it was with a password. Don't know how to explain those but I have had 2 now in the 4 months. Maybe started from the teller at the bank, but don't know for sure????

Right in the video says they were cancelled before the deposit actually went in. Moral of the story, check your account before goods are let out of sight. Once in your account, they no longer have access to it.

This is the same as sending something in the mail. Once it leaves your possession and is in the possession of "canada post" you can not touch it any more. You can not ask for it back, and you need to file a whole claim about "trying to stop it" and even then they will not guarantee that it will get stopped. Kinda messed up, but it is the way it goes. Another one of those been there scenerios.

[Savage Bacon]

Originally Posted by ak77

it says there that the deposit WAS made, it was earmarked to go into her account, but was cancelled 90 mins after the fact. Only mistake she made was not to wait for the money to show up. And obviosuly it can take up to 90mins or even more for money to show up even with autodeposit.

GoPublic did the testing, and it is the thing. Now, if anything, her 15 mins of fame taught a bunch of people that it is possible to reverse the etransfer even with autodeposit option. Hold on to your hats/guns.

That story seems kinda hoky. No monies were ever confirmed to have been transferred into her account. She just took the guys word for it.

Sent from my SM-G970W using Tapatalk

[Trochu]

Originally Posted by Savage Bacon

That story seems kinda hoky. No monies were ever confirmed to have been transferred into her account. She just took the guys word for it.

Sent from my SM-G970W using Tapatalk

Stupidity and hurt feel reports.

[ak77]

Originally Posted by Savage Bacon

That story seems kinda hoky. No monies were ever confirmed to have been transferred into her account. She just took the guys word for it.

Sent from my SM-G970W using Tapatalk

Transferred - no. Yes, she's done goofed up, i wouldn't care what the guy had to show me on his phone. As long as the money aren't there i don't care what your bank says.
But it does bring to light bigger picture... Something that has been touted forever as safe, reliable, fast, and easy is actually none of those things. Is this story going to change things? At the best, maybe. Banks will probably add another line in tiny unreadable letters that would absolve them of any responsibility. Those who will remember the story are going to be more careful, and some legitimate buyers would have to start making detour to banking machines before going to see the seller. Somebody may get robbed for requesting lots of cash which otherwise could've been transferred... This hole will get plugged, the new one will pop up tomorrow. Someone else will get scammed...
'tis life, it does go on... The only way to ensure that nothing will happen to you is to do absolutely nothing... But even then there's act of God...

[Savage Bacon]

Originally Posted by ak77

'tis life, it does go on... The only way to ensure that nothing will happen to you is to do absolutely nothing... But even then there's act of God...

Ya the house always wins

You'd think that in this day and age those transfers would be immediate. Heck I heard a commercial the other day going on about 10G.

I mentioned that handgun in my earlier post. Tried to pay with credit card but he only accepted etransfers. We sat there for what seemed like forever waiting for him to get the money on his end.

Every purchase I make with my credit card gets emailed to me. And 9 times out of 10 I get that email in seconds.

These banks need to step it up a bit.

Sent from my SM-G970W using Tapatalk

[thumper]

CBC reporting? Whenever they're reporting about something you're very familiar with - how accurate do you find their reporting?

Most of it's bull.

Then when they're reporting on something we personally don't know a lot about - why should we then believe them?

Generally, if we have personal, in-depth familiarity with their 'facts', they tend to follow the 'Rule of Media Thirds". One third is fairly accurate, one third is very debatable, and one third is flat out wrong.

The more the CBCs story is about their Liberal masters, or about some down-trodden victim(s), the more the Rule of Thirds degrades towards 10% truth, and 90% fiction.

In this story, they never specifically say whether she checked her own account to see if the money was deposited or not, only that she saw "a confirmation" (on his phone?) - but they go on to blame the bank for permitting a 'cancellation'. And surprise! - they find a "software engineer" to back up their claim!


CBC is fake news. Read/watch it for entertainment purposes only.

[Sundancefisher]

Originally Posted by wallz

With etransfers, there is sometimes a delay, depending on the situation.

I have had legitimate ones that have taken a few hours to go through. Something about coming from an account that was getting some more security scrutiny. It was a buyer trying to get me funds.

Once it is in your account, or their account; there is no way to cancel it, and no even a bank will not do it. Trust me, I have gone this route as I have been on a bad end of a scam.

I have auto deposit, yet have had several payments for purchases that I had to go through the app and actually deposit, like it was with a password. Don't know how to explain those but I have had 2 now in the 4 months. Maybe started from the teller at the bank, but don't know for sure????

Right in the video says they were cancelled before the deposit actually went in. Moral of the story, check your account before goods are let out of sight. Once in your account, they no longer have access to it.

This is the same as sending something in the mail. Once it leaves your possession and is in the possession of "canada post" you can not touch it any more. You can not ask for it back, and you need to file a whole claim about "trying to stop it" and even then they will not guarantee that it will get stopped. Kinda messed up, but it is the way it goes. Another one of those been there scenerios.

In the second part of our test, senders e-transferred $5 to accounts that had autodeposit set up.

When the e-transfers came from one of the big banks, senders never had an option to cancel it.

Some credit unions, though, allowed senders to cancel for more than half an hour after the e-transfer was sent — even though the notification the sender received indicated it was completed.

The would-be recipient was not informed of the cancellation.

It depends on the institution.