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Bureau of Financial Institutions
OTHER PFR AGENCIES
Last night I received a call promising me a ten day Caribbean cruise, including airfare and meals for only $199.99. The caller asked for my credit card number but I refused to give it to him and instead disclosed my checking account number. Did I make a good decision?
Never disclose your checking account number (or credit card number) over the phone to an unsolicited telephone sales call. With your account number the caller can gain access to the money in your account. If you have given your account number to someone, you should contact your financial institution, have them immediately close the account and open a new one (with a new number). For persons who have already had funds removed, have your financial institution "charge back" the amount to the bank account of the fraudulent telemarketer.
The person purchasing my car wants to send me a check for $1000 more than my purchase price. He has asked me to wire the $1000 to the person shipping the car to him. When can I be sure the check won't be returned?
This may be a scam. Many people have felt comfortable in wiring the money once the bank or credit union allows withdrawals and then discovered the check is counterfeit or has insufficient funds. By law, banks and credit unions must make funds available in 5 business days; many financial institutions will allow withdrawals in a day or two. However, it will take a week or more for you to realize the check is being returned. Read the article about Giving the Bounce to Counterfeit Check Scams.
You will need to contact the police and file a criminal complaint and notify your bank or credit union and close the checking account. You will not be held responsible for checks you did not sign. You will need to follow your financial institution's dispute process.
Last Updated: June 5, 2013
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