Spurred by the MtGox implosion thread and by a TV episode in which "real", presumably USD funds in US banks were stolen by an evildoer who illegally transferred the money elsewhere, I am wondering: What protections do US dollars in FDIC-insured US banks have against fraudulent electronic transfers? Would a victim of such a theft be likely to see all, some, or none of the stolen money reimbursed by an insurance policy?
posted by jepler
on Mar 4, 2014 -
I have a USD account in the UK and received an incoming amount in GBP. However, it was supposed to be sent in USD from the US (so that's a cross-border transfer). The sender also claims that the amount was sent in USD. My bank claims and also the statement tells that the money came in GBP. Because of the double conversion (usd->gbp->usd) I received significantly less than if it happened without any conversion.
My only idea at the moment is that an intermediary bank applied a conversion.. Can this happen? How can I clearly find out what happened? How to avoid this from happening again?
Thanks for your suggestions!
posted by fifigyuri
on Jan 24, 2013 -
Where can I change my Sterling and Euro banknotes to USD in Gainesville? [more inside]
posted by pont
on Sep 16, 2012 -
How to get the best conversion rate (GB Pound to US Dollar)?
I've been working in London for the past year, trying to save up money for grad school when I return to the states. I was told that December was the best month of the year to do a GBP to USD conversion (not too sure how accurate that is).
I bank with Barclays (England) and Chase (US) and am in the states at the moment. I've brought the money (in GBP) over because I thought it would give me more conversion options.
I know that it can get complicated with conversion rates changing, various banks with their own exchange rates, etc. I'm willing to open an online bank account if that's the best option to transfer pounds to dollars.
Are there any conversion geniuses out there who can help give me any tips?
posted by Danah_78
on Dec 23, 2010 -
Transferring a large sum of money from China to the US: Why would it make sense for my account to be a proxy? [more inside]
posted by anonymous
on Oct 19, 2010 -
We deposited two USD checks to open a new Scotiabank account that are being held for quite a long time. Is there any
way we can reduce the hold time? [more inside]
posted by setanor
on Sep 15, 2009 -
I'm from the United States, and have an expatriation package to work and live in China. Should I be paid in the local currency, RMB, or with the US dollar? The Chinese people are saying I should be paid in RMB because the US dollar is "unstable".... [more inside]
posted by Jimmie
on Jun 20, 2009 -
Where can I find old historical exchange rates? Right now I'm looking for the crosses between British Pounds, US Dollars and French Francs in the mid-1950s. [more inside]
posted by b1tr0t
on May 31, 2009 -
I'm a US citizen, and have lived in Beijing for just over a year. Right now I'm interviewing for jobs here. My salary will be paid in RMB, but I need to convert/transfer a portion of my monthly salary into USD in a US bank account as I still have some expenses in the USA and I would also like to save a bit of money for when I go back. So, I'm looking for advice from someone who has successfully done this: is it possible? what's involved? [more inside]
posted by duoshao
on May 9, 2009 -
Visiting San Diego this weekend: do we need a rental car, and is there anything secret and great near Seaworld that we should see? (esp. good coffeeshops for hanging around in?) [more inside]
posted by LobsterMitten
on Jun 4, 2007 -