Quote:
Originally posted by Joeaksa
Its normal overseas procedure for many these days.
You close the new account after withdrawing the cash, this way there is no way that any funds can be reversed by the sender. If you want to be really careful, you deposit the funds in a different bank. Its called CYA.
Sounds like you have not done many overseas wire transfers! I do at least 2 a month and if the receiver is not sure of the source this is the best way to make sure you get and keep your funds.
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it just sounds like suspicious activity...
no, i havent done wire transfers of any kind. so why not money orders? After 2 weeks, is there any way they can be reversed?
Opening and closing accounts every time you accept a wire transfer sounds like a big hassle.