I found out the other day, you can’t, unless the item you're buying is $3000.00 or less.
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Man scammed by a fake certified cheque, lost polaris slingshot
- Thread starter Norcorider
- Start date
I have one account that can do $10k etransfers per day. My other accounts are limited to $3k per day. I talked to bank about raising it. They tell me that isn't possible.
No worries about counterfeit?
I think you're talking about Interact transfers.
I'm talking about SWIFT transfers. I can transfer up to $30,000USD with a couple of clicks... and a dozen forms. If I want to transfer more, I have to get in touch with the bank... and the bank MIGHT want you to come in and sign something about their liability.
Yeah. Those were etransfers. I use swift for bigger numbers. I havent tried without currency conversion but I use xe.com for most swift stuff lately.
we are using wire transfers at work all the time now. Bank to Bank. we need transit numbers for the recieving bank and an account where it will go . tap tap click click and 100K is in Finland.
For a one off buying a bike ect. its almost too much to put together , however now days , I'd have no probelm meeting somebody at the "issuing" bank that was doing a Certified cheque or bank draft and have them prepare it while watched .
I went to pay out a car loan at a bank with a bank draft , from a bank . they needed 5-7 days for the bank draft to clear thier system before they would issue a letter of disclosure . The banks dont even trust each other .
For a one off buying a bike ect. its almost too much to put together , however now days , I'd have no probelm meeting somebody at the "issuing" bank that was doing a Certified cheque or bank draft and have them prepare it while watched .
I went to pay out a car loan at a bank with a bank draft , from a bank . they needed 5-7 days for the bank draft to clear thier system before they would issue a letter of disclosure . The banks dont even trust each other .
Yet another reason why I’m glad I didn’t go the private sale route of the Volt.
Dealer prints cheque, hands to me, deposit is good.
For a few grand less than private, I’m willing to take that ‘loss’.
Dealer prints cheque, hands to me, deposit is good.
For a few grand less than private, I’m willing to take that ‘loss’.
Mikedezo44
Well-known member
I accepted one that looked identical to this earlier this summer. Did go to bank to deposit it with the buyer beside me though. Others in the past I have accepted with blind faith, probably wouldn't anymore.
This week I delivered a hot tub I had sold....buyer said he could only transfer 2k/day after I had already put it in his backyard. Kind of a kick in the pants he expected I would be ok with this. He made the transfer 4 days in a row luckily didn't have to pull teeth to get it out of him. Could have told him to call bank and up his limit but I let it slide as they seemed like a nice enough family.
The other day I was at the scrapyard at 7am. They were sorting a bundle of copper rods that was taped together...someone had copper colored steel bars in the middle. The employee told me a guy came the night before at 5:55 just before closing at 6 and dropped it off... That takes some balls, assuming the employees weren't going to cut the bundles open on the spot and check that all the bars were copper. Would have had some explaining to do!
Scammers everywhere these days!
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I tried to up my etransfer limit. Cibc told me hard no. I have sent and received etransfers spread over days because of the stupid limits.
Mad Mike
Well-known member
Banks have no special magic. If it’s drawn on their bank, they have a real-time view. If it’s drawn on another bank, they just call the issuing bank to authenticate.
Cheques also have some anti fraud features that can be detected. They are printed with Magnetic and water soluble inks, some have micro printing and colours that are invisible until copied. ATMs often pick these up, when the do they simply report and reject the cheque.
Fraudsters don’t trick banks, all they need to fool is the payee.
Mad Mike
Well-known member
Just go to the issuing bank, cash the cheque to cash.
Mad Mike
Well-known member
$10000 per, transaction, 10k max per 24hr period, up to $30k in 30 day rolling period is Interac limit.
Most banks set $2500-3000 as their default limit. Call the number on the back of your bank card to ask for an Interac increase. Increases are based on needs, you may have to tell the banker why you need the higher limit.
It may be denied if you have bad bank behaviour or you’re a senior, but for the most part they ok what you ask for up to 10k
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Same. BMO wouldn’t up my limit from the 3k I had.
But unlike @Mikedezo44 situation I told the supplier ahead of time. ‘Hey, I can only send you 3k/day just so you know but I’ll send a payment every 24h until I’m paid off.’
They usually have no issue as I send the first payment before they arrived with the product.
Well if the buyer doesn't process the paperwork, you could just go to SO and pay $20 for a replacement ownership.
I'm not sure of the legal implications to you at that point. You signed over the car to a buyer that screwed you
Can two wrongs make a right or are you committing fraud by representing yourself as the owner after you have sold it?
Way back when Interact was fairly new, I was buying security cams... LOTS of security cams. I cut a deal with a distributor that I would order when he ordered his inventory, so I'd get a better price. It worked out the best (Cheapest) way for me to pay him was Interact... but each bill was around $10,000.
I talked to my bank, they said it was up to head office. I was dealing with the banks network security office daily, so I asked my contact there.... NO PROBLEM. I have to tell them when and where and a amount, and they would feed it through the system.
Call the distributor to set up the deal, and he won't believe me that I can make a $10,000 purchase on Interact, he wanted to run 5 $2000 invoices (this what I was trying to avoid).
Day comes, go to pick up cameras, store owner AGAIN tells me this won't work.
NO NO NO says bitzz... I gots this. I worked at setting this up. Hand me the Interact input thingme...
I slide my card, and on his display it says "Stolen card. Vendor must retain card"
It seems 10 minutes before I tried to make a purchase, that the bank knew where I was and how much I was spending, someone tried to use my account to buy two TVs at a Best Buy downtown.
Called TD security, sorted it out, bought my cameras. The next four deals went off without a hook.
I used to work at internet security as a job, and you meet all kinds... but funny thing; when I was working internet security and meeting all kinds, I used to have all kinds of security problems: my bank card was hot listed almost monthly, my servers had TONS of penetration attempts (NEVER successful THANK YOU VERY MUCH), there was someone driving around getting tickets on my license plate, then he got into an accident on the QEW and took off ( the guy had the same truck as me, he was good. My saving grace was HIS truck was red, mine was white, but when I showed my white truck to the Metro auto squad the next day, they DID check the door valances and the vin plate... you know, so we'd know that I didn't do a bunch of body work on the front and paint it white last night. Just being thorough)... and a bunch of other annoying crap... which ALL went away when I transitioned over to doing telephony. Coincidence? I THINK NOT!
I talked to my bank, they said it was up to head office. I was dealing with the banks network security office daily, so I asked my contact there.... NO PROBLEM. I have to tell them when and where and a amount, and they would feed it through the system.
Call the distributor to set up the deal, and he won't believe me that I can make a $10,000 purchase on Interact, he wanted to run 5 $2000 invoices (this what I was trying to avoid).
Day comes, go to pick up cameras, store owner AGAIN tells me this won't work.
NO NO NO says bitzz... I gots this. I worked at setting this up. Hand me the Interact input thingme...
I slide my card, and on his display it says "Stolen card. Vendor must retain card"
It seems 10 minutes before I tried to make a purchase, that the bank knew where I was and how much I was spending, someone tried to use my account to buy two TVs at a Best Buy downtown.
Called TD security, sorted it out, bought my cameras. The next four deals went off without a hook.
I used to work at internet security as a job, and you meet all kinds... but funny thing; when I was working internet security and meeting all kinds, I used to have all kinds of security problems: my bank card was hot listed almost monthly, my servers had TONS of penetration attempts (NEVER successful THANK YOU VERY MUCH), there was someone driving around getting tickets on my license plate, then he got into an accident on the QEW and took off ( the guy had the same truck as me, he was good. My saving grace was HIS truck was red, mine was white, but when I showed my white truck to the Metro auto squad the next day, they DID check the door valances and the vin plate... you know, so we'd know that I didn't do a bunch of body work on the front and paint it white last night. Just being thorough)... and a bunch of other annoying crap... which ALL went away when I transitioned over to doing telephony. Coincidence? I THINK NOT!
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