Special offer
Joan Cox, Denver Real Estate - Selling One Home at a Time (House to Home, Inc.  - Denver Real Estate - 720-231-6373)

Spam prevention
Rainmaker
1,090,872
Diana Zaccaro Broker Associate
ZOOM Realty Group - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

How do you revamp a wire program and why would you need to? I am so thankful that we dumped BoA years ago. You would not believe what we went through with them after paying off our mortgage...it was a nightmare.

Jun 12, 2021 10:04 AM
Rainmaker
1,844,301
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Seems like wire transfers would be a big part of a banks business. I thought that was all federally controlled so what's to update/revamp?

Jun 12, 2021 09:31 AM
Ambassador
3,345,091
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

I am not surprised.  Among the many reasons I do not associate with any of the Big Bad Banks! 

Jun 12, 2021 12:06 PM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Joan,

At our bank, we have to appear in person to send a wire.  They check to make sure the wire receiver is legit, and their have us sign in person.  I do not mind that at all.  It may seem like an extra step to many, however, I like the confidence it gives me.  A

Jun 12, 2021 10:40 AM
Ambassador
2,684,109
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Wow!

     Many Title Closers won't accept any checks of any kind, including cashier's checks.  

Jun 12, 2021 09:37 AM
Rainer
509,449
Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

Wow!  Thanks for the heads up, Joan!  It sounds like they didn't even notify their clients ahead of time and it comes as a surprise.

Jun 12, 2021 01:18 PM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Oh geez... what next? The problem here is that our closing attorneys don't take cashier's checks or certified checks over $500-$1,000. Will be interesting to see what happens. However, having to come into a branch to initiate a wire (of any amount) has been the case here for some years. And not just with BofA.

Jun 12, 2021 12:11 PM
Rainmaker
821,135
Eileen Burns 954.483.3912
Trans State Commercial Realty Inc. - Fort Lauderdale, FL
FLorida Real Estate Connector

interesting... compelling customers to appear in person.  Did this customer receive notice in advance or was that the fine print ina font size requiring a magnifying glass?  also giving the bank bail in ability!

Jun 12, 2021 09:34 AM
Rainmaker
2,182,552
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Not a fan of B O A 

Jun 13, 2021 07:02 AM
Ambassador
6,393,609
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

With Russian hackers working hard to steal as much as possible from us it may be a way to minimize risks.

Jun 12, 2021 10:15 AM
Rainer
135,724
Jerrill Ewing
N & J Lake Properties, LLC - Eatonton, GA
Builder

wired money from BofA account on Friday.

Jun 13, 2021 11:44 AM
Rainmaker
5,216,409
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Thank you for the heads up! Who knows what lurks out there!

Jun 13, 2021 04:20 AM
Ambassador
5,049,450
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I haven't had a client use BOA in years. News to me.

Jun 12, 2021 01:54 PM
Ambassador
3,587,960
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

OMG how on earth did they not plan better.  As a lending institution it's their job!!

Jun 14, 2021 03:56 PM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Thanks for the info!

Jun 14, 2021 08:30 AM
Rainer
378,517
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

that's the stupiest thing I ever heard. Oddly enough, nothing about it found on Google.

Jun 13, 2021 10:16 AM
Rainmaker
805,909
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

That is pretty bad. Is it due to too many people being scammed out of money?

Jun 14, 2021 06:13 PM
Rainmaker
1,311,397
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I find that to be very unusual. 

Jun 14, 2021 04:53 PM
Ambassador
1,076,551
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Doesn't surprise me, BofA is a mess right now on several fronts.  So much for convenience, I suppose.  

Jun 14, 2021 05:12 PM