If I give someone all the necessary details to do a Wire Transfer of funds from their bank account to mine, what are the risks? What are the risks of that money itself (i.e. that they can do like a "chargeback" or something) And What are the risks after the money is sent (i.e. what can they do with my information & can I be part of some sort of Nigerian Banker scam or something?)
I'd say if you got a buyer willing to WU you, your lucky. It's uncommon that buyers seem to do that these days as THEY have basically nothing they can do to get their money back. Only risk I could think of is them with your info together with them not receiving what they payed for.
when receiving wire transfers there is no problem with chargebacks, but they can report you if youa re scaming and bank would close your account
I heard that if someone knows the information requird to make a direct wire transfer, and they hack into the bank system, they will be able to pull the money from your account that they just put and nothing suspicious will go on because you are expecting payments. Seems sort of rediculous to me because if they hacked the system they could do it to anyone? What do you guys think, or is there any other potential harm to be caused to me by someone having this information?
As I understand it (and my sole experience is with sending and receiving, no details) the Fraud risk for outgoin wires is because there is no fall back. Once the wire is out it's out. The can "request" to have it reversed, but basically your bank will inform you of such a request and ask you if you agree. So once the wire is in your account they can't get it back per force. Best to give your bank a call though. Why don't u call ur bank.
There won't be any chargeback because your bank will contact you first to discuss the issue with you.