Are BoA transfers reversible?

[viking02]

I play online poker and would do transfers with people where i transfer them BoA through online transfer and then i get poker funds.  I however read that boa is actually reversible.  Is this true or false?  I know paypal and chase quickpay are reversible but i was always told boa and wells fargo wasn't.


I read that boa cash deposits can be reversed if they go back the same day.  Is that true/false?  What about wells fargo?


So basically the only thing that is not reversible is when someone send you a bank wire and once you receive it, they can't reverse it anymore?

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[bigasic]

Probably best to call the bank and ask them. But I have heard of bank transfers reversed, I don' think what bank it is.

[ForgottenPassword]

I play online poker and would do transfers with people where i transfer them BoA through online transfer and then i get poker funds.  I however read that boa is actually reversible.  Is this true or false?  I know paypal and chase quickpay are reversible but i was always told boa and wells fargo wasn't.


I read that boa cash deposits can be reversed if they go back the same day.  Is that true/false?  What about wells fargo?


So basically the only thing that is not reversible is when someone send you a bank wire and once you receive it, they can't reverse it anymore?

No that is not the case. If the account has been hacked then the funds can be reversed. Additionally the funds can be reversed if they suspect illegal activity such as money laundering etc though that is not as common.

[haploid23]

I play online poker and would do transfers with people where i transfer them BoA through online transfer and then i get poker funds.  I however read that boa is actually reversible.  Is this true or false? 

I read that boa cash deposits can be reversed if they go back the same day.  Is that true/false?  What about wells fargo?

So basically the only thing that is not reversible is when someone send you a bank wire and once you receive it, they can't reverse it anymore?

Both are true. Both online transfer and cash deposits specifically for BofA are reversible. I know from personal experience of being a victim of this scam on LBC.

Wire transfers are extremely hard to reverse, however still possible.

[arbitrage001]

I play online poker and would do transfers with people where i transfer them BoA through online transfer and then i get poker funds.  I however read that boa is actually reversible.  Is this true or false? 

I read that boa cash deposits can be reversed if they go back the same day.  Is that true/false?  What about wells fargo?

So basically the only thing that is not reversible is when someone send you a bank wire and once you receive it, they can't reverse it anymore?

Both are true. Both online transfer and cash deposits specifically for BofA are reversible. I know from personal experience of being a victim of this scam on LBC.

Wire transfers are extremely hard to reverse, however still possible.

How did the buyer convince the bank teller to reverse cash deposit?

[haploid23]

How did the buyer convince the bank teller to reverse cash deposit?

I know exactly how they did it, however I'm not going to disclose. That just gives ideas to potential scammers.

[viking02]

I play online poker and would do transfers with people where i transfer them BoA through online transfer and then i get poker funds.  I however read that boa is actually reversible.  Is this true or false? 

I read that boa cash deposits can be reversed if they go back the same day.  Is that true/false?  What about wells fargo?

So basically the only thing that is not reversible is when someone send you a bank wire and once you receive it, they can't reverse it anymore?

Both are true. Both online transfer and cash deposits specifically for BofA are reversible. I know from personal experience of being a victim of this scam on LBC.

Wire transfers are extremely hard to reverse, however still possible.

What do you mean by LBC?

[cooldgamer]

I play online poker and would do transfers with people where i transfer them BoA through online transfer and then i get poker funds.  I however read that boa is actually reversible.  Is this true or false? 

I read that boa cash deposits can be reversed if they go back the same day.  Is that true/false?  What about wells fargo?

So basically the only thing that is not reversible is when someone send you a bank wire and once you receive it, they can't reverse it anymore?

Both are true. Both online transfer and cash deposits specifically for BofA are reversible. I know from personal experience of being a victim of this scam on LBC.

Wire transfers are extremely hard to reverse, however still possible.

What do you mean by LBC?

LBC=Local Bitcoins

[viking02]

I play online poker and would do transfers with people where i transfer them BoA through online transfer and then i get poker funds.  I however read that boa is actually reversible.  Is this true or false? 

I read that boa cash deposits can be reversed if they go back the same day.  Is that true/false?  What about wells fargo?

So basically the only thing that is not reversible is when someone send you a bank wire and once you receive it, they can't reverse it anymore?

Both are true. Both online transfer and cash deposits specifically for BofA are reversible. I know from personal experience of being a victim of this scam on LBC.

Wire transfers are extremely hard to reverse, however still possible.

Do you know how long a time a person has to reverse a BofA online transfer?  Example if i trade poker funds to them for BoA, how long do they have before the funds can no longer be reversed?  Lot of ppl trade poker funds for boa and i heard 1 person on a forum mention that BoA is reversible when previously i heard it wasn't.

[psudoBTC]

I play online poker and would do transfers with people where i transfer them BoA through online transfer and then i get poker funds.  I however read that boa is actually reversible.  Is this true or false? 

I read that boa cash deposits can be reversed if they go back the same day.  Is that true/false?  What about wells fargo?

So basically the only thing that is not reversible is when someone send you a bank wire and once you receive it, they can't reverse it anymore?

Both are true. Both online transfer and cash deposits specifically for BofA are reversible. I know from personal experience of being a victim of this scam on LBC.

Wire transfers are extremely hard to reverse, however still possible.

Do you know how long a time a person has to reverse a BofA online transfer?  Example if i trade poker funds to them for BoA, how long do they have before the funds can no longer be reversed?  Lot of ppl trade poker funds for boa and i heard 1 person on a forum mention that BoA is reversible when previously i heard it wasn't.

I would think it would be several months. If the account owner were to claim fraud then BoA would likely attempt to recover any amounts that was sent to you.

[98problems]

Unless the other person deposits cash into your account then it is possible to reverse the transaction. This is true for all banking transactions. Period.

[negafen]

Unless the other person deposits cash into your account then it is possible to reverse the transaction. This is true for all banking transactions. Period.

If you spend some time reading comments above, you should know CASH deposit is reversible for BoA.

[Mobius]

Unless the other person deposits cash into your account then it is possible to reverse the transaction. This is true for all banking transactions. Period.

If you spend some time reading comments above, you should know CASH deposit is reversible for BoA.

No they are not. The person who posted that is likely spreading FUD. The only real possibility to do this is to convince the teller to give the account "intimidate" availability for a check deposit so it would look like a cash deposit on online banking, but it would really not be a cash deposit.

[ForgottenPassword]

Unless the other person deposits cash into your account then it is possible to reverse the transaction. This is true for all banking transactions. Period.

If you spend some time reading comments above, you should know CASH deposit is reversible for BoA.

No they are not. The person who posted that is likely spreading FUD. The only real possibility to do this is to convince the teller to give the account "intimidate" availability for a check deposit so it would look like a cash deposit on online banking, but it would really not be a cash deposit.

I once read a story on the LBC forums where the seller alleged the buyer and bank teller knew each other (they were from a small town) and colluded together to reverse the cash deposit. I have no way of knowing if that is true but I am sure something like that could very easily happen.

[haploid23]

Unless the other person deposits cash into your account then it is possible to reverse the transaction. This is true for all banking transactions. Period.

If you spend some time reading comments above, you should know CASH deposit is reversible for BoA.

No they are not. The person who posted that is likely spreading FUD. The only real possibility to do this is to convince the teller to give the account "intimidate" availability for a check deposit so it would look like a cash deposit on online banking, but it would really not be a cash deposit.

You're an idiot. I just mentioned that I was a victim of this scam. Nearly all high volume sellers on LBC has experience a cash reversal one time or another, and it's pretty wide-spread for a certain time period until we caught on. To resist it, btc is not released until after bank hours (or sometimes even several days) if dealing with a newb account that does cash deposits. Also a picture of receipt with "NO REFUND" written on it. This is now pretty standard. Do you think these measures are done for fun?

If you still don't believe me, then go sell on LBC, make sure you give instant release to all newbs that do cash deposits.

[SMB-2525]

There are three (easy) possibilities for BOA initiated transfers. My guess from reading the above is they are in decreasing likelihood of reversibility:
1. Wire transfer
2. ACH Transfer
3. Transfer using one of the intermediary transfer to cell phone or email services.

Apparently all are reversible. There appears to be no way a buyer can establish trust in a way that precludes reversibility. So we are left with cash transactions for "untrusted" buyers.

Ironic.

[Fray]

Unless the other person deposits cash into your account then it is possible to reverse the transaction. This is true for all banking transactions. Period.

If you spend some time reading comments above, you should know CASH deposit is reversible for BoA.

No they are not. The person who posted that is likely spreading FUD. The only real possibility to do this is to convince the teller to give the account "intimidate" availability for a check deposit so it would look like a cash deposit on online banking, but it would really not be a cash deposit.

I once read a story on the LBC forums where the seller alleged the buyer and bank teller knew each other (they were from a small town) and colluded together to reverse the cash deposit. I have no way of knowing if that is true but I am sure something like that could very easily happen.

If there were any witnesses to this or any paper trail at the bank then the teller could be fired and the bank held liable for the seller's loss. The buyer would have likely have been required to show a picture of the receipt and if the teller had provided a fake one this would have been easily traceable.

[cryptofan5]

Haven't dealt with BoA for a while, but believe their are reversible. What is more is that even in the old day, some 10-15 years ago, BoA used to close accounts at a first sign of any suspicious activity, like when someone send s wire and then claims that it was not authorised, etc.

[viking02]

If boa is reversible, why is it lot of online poker players use it to transfer funds.  Example many ppl would trade pokerstars for bank of america and wells fargo online transfers.  I know chase quickpay and paypal are reversible but seems like almost everyone accepts boa transfer or wells fargo.

[haploid23]

If boa is reversible, why is it lot of online poker players use it to transfer funds.

That's like saying why the hell does paypal transactions still happen in the btc world when everyone knows they're reversible. It's a matter of convenience for the risks associated with it.