Beware the high-wire act of wire transfers, which carry unexpected risks
BNN Bloomberg
"Wire transfers are problematic because once they are in the system, they cannot be recalled and that is the nature of the beast"
As he tells it, Nachaj made sure to ask the teller at the TD Bank branch to check the numbers twice, since he'd been required to sign a form releasing them from any liability over the $18,000 down payment. The teller then sent along the money.
And then it disappeared.
So began the Saint-Hyacinthe, Que.-based man's odyssey into Canada's wire transfer system. The vast majority of the time it successfully sends money securely and accurately, but as Nachaj discovered, it is far from foolproof.
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