Warning for members using E-Transfer on mobile for payment (1.Viewing)

He sent his rent via e-transfer, but got one digit wrong. Now the bank says all he can do is ‘hope for the best’​

He worked hard all month to pay his rent, only to see his hard earned dollars vanish with the mistaken click of a button. That’s the nightmare one Ontario man, Het Shah, is living after sending his rent money to the wrong e-transfer number.
On Thursday, Shah accidentally hit “5” on his keypad instead of “8” while inputting the recipient number during a routine Interac money transfer – a typo that proved to be the most expensive of his life.

Source: He sent his rent via e-transfer, but got one digit wrong. Now the bank says all he can do is ‘hope for the best’

A caution to all members that using the mobile number instead of email can be quite a bit more risky.

If one digit is wrong the e-transfer will go to the person whose phone number is registered but if you use an email address instead a one character mistake will usually result in a bounce and the e-transfer will come back to you.

Therefore it is safer to send e-transfers to an email address instead of a phone number. I have experience with this and it took me repeatedly warning my family until everyone was using email instead of a phone number to send/receive e-transfers.

A small typo can have big consequences, so always double-check payment details.

Just more proof that Canada is now chock full of gypsies, tramps and thieves - Canada used to be a place where if you dropped a wallet on the street, someone would pick it up and run after you to give it back. Now if you drop a wallet, the people on the street are fighting over who gets to steal it.

I know if someone mistakenly sent money to my phone number, I would delete the message and advise the sender that the money will soon be returned to his or her bank account. So would any true Canadian.

But we seem to be a dying breed.

I gave back an etransfer that landed in my account erroneously

Hopefully he gets it back. Lucky it wasn't a bigger amount. I read about lots of scams in BC where mostly seniors get tricked out of tens or even hundreds of thousands of dollars. I'm sure this guy won't make that mistake again.

MacMan said:

I gave back an etransfer that landed in my account erroneously

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Good job.

domains said:

I read about lots of scams in BC where mostly seniors get tricked out of tens or even hundreds of thousands of dollars.

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This whole digital finance system is a just a 'wealth redistribution scheme" at its core and even the banks are playing at it.

For example, the max I can withdraw at a bank machine is $1K, yet the big Canadian banks allow between $50K and $100K a day (!) in irretrievable Global Money Transfers and with NO WAY DECLINE or TO LOWER THAT LIMIT. I've talked to people in the government about this and its massive fraud implications, but due to no current regulations on this type of transfer, their hands are tied and the Canadian banks could up that limit to a billion dollars a day, and no one could lift a finger.

The Canadian banks are willingly opening the door to massive international fraud on their Canadian consumers and are not even allowing us to decline the option or decrease our risk limit. I can change my bank withdrawal limit and my credit card limit, decrease my overall withdrawal limit, and delete options on my debit and credit cards, but these Global Money Transfers are hardlocked as active with insane limits of between $50K-100K - why? If not to freely allow mass fraud, why?

I know my bank allows $75K a day and it's $%@#& maddening talking to these morons, who clearly want all my money stolen by Nigerian scam artists.

Due to the clear and obvious dangers, Global Money Transfers are the scariest thing in the world to me, and are obviously the top choice of 3rd world scammers. That's where and how all the big money scams take place in Canada.

NiceNIC said:

A small typo can have big consequences, so always double-check payment details.

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Especially with new contacts, test transactions with the minimum amount first.

Better to lose $1 than $1,000.

Great advice @jamesaepp