"Short Wave Sportfishing" wrote in message
...

That may not be the bank's fault. I know on the last home deal we
did, we received the funds by check instead of electronic money
transfer - it was the way the buyer's lawyer wanted to do it.

Turns out, the lawyer wanted the float. We deposited the check and
when it was proferred for payment, there was a delay because of the
way the escrow account was set up - payment had to be "authorized".

By that afternoon, the funds had been transferred electronically and
the check returned. It's good to have friends in power on the Bar
Association plus having the son of a former State Supreme court Chief
Justice and a former Superior Court judge as your attorney. :)


Wire transfers to an active, main account is not a particularly safe way to
transfer money anymore according to some "experts". The fact that you make
your account number available electronically makes it vulnerable to hacking,
they claim.

I was going to do a wire transfer to receive payment for one of the cars I
sold. Instead of using one of our "real" accounts, I opened another account
by deposited 50 bucks in it, to be used strictly for wire transfers.
Problem is, the guy ended up sending a check, I never used the account and I
forgot about it.
About a year later I received a notice from our bank informing me that my
"account" was overdrawn and I was being charged a penalty. I didn't have a
clue what they were talking about at first, but it turns out it was the wire
transfer account. Because it didn't have a minimum balance, the bank
automatically charged a monthly "service fee" to maintain it and the fees
had exceeded the original $50 deposit.

Eisboch