Why sending money to strangers is not a good idea?

Do you send money to Philippines or your home country from abroad? One of the main indications of a scam, if not the biggest, is any request that money be sent through money transfer services such as MoneyGram, Western Union, or Ria Money. All online money transfer services have suggested that you never send money through money transfer service in any online transaction to an unknown person.

Sending money using money transfer services is just like sending cash. Once the money is gone, and you may not get it back even if you were scammed. Sending money through these services to someone that you don’t know personally know is like giving cash to strangers and hoping that they will do as he says when he comes back.

There are many signs by which you can spot an online scam. The strongest one is the request to send money to someone under a murky text. But what if instead of them giving you money, you have huge money transferred to you? Sounds ideal, right? But what is the catch?

The catch is that you will not be getting the money. The best way to transfer money to the Philippines is to send money using online money transfers, but you must also be cautious when making the transfers.


What do you need to know?

Online money transfers to Philippines or elsewhere is the best choice and useful when you want to send funds to people you trust and know, but they are highly risky when dealing with strangers. You must remember:

-Wiring money is like sending some cash to someone. Once it has been sent, you will not get it back. Con artists mostly insist that people send money mainly overseas as it is nearly impossible to reverse this transfer or trace the money.

– Never send money to Philippines online to strangers or people that you have not met in person. This includes:

  • Sellers that insist on wire transfers for payment
  • An online love interest that asks for money or a favour
  • Someone advertising a vacation rental or apartment online
  • A potential employer or someone who says it is part of their new job online
  • Someone that claims to be a relative or friend in a difficult state is primarily a foreign jail or hospital.

– Never agree to deposit a check from people that you don’t know and then wire money back:

The check will bounce, and you will also owe your bank the money you have withdrawn. By law, banks should make the funds from deposited checks available in a day or two. But it may take weeks to uncover a fake check. It might seem that the check has cleared, and this money is in your account.

But you are also responsible for the checks you deposit; hence if a check turns out to be fake, you owe the bank the money you had taken out. What are some money-wiring scams when sending money through online money transfers?

Money-wiring scams may involve convincing or dramatic stories. Listed below are a handful of them:

– Lottery and sweepstakes scams:

The letter says that you have just won the lottery. All you need to do is send the enclosed cashier’s check and wire money for the said taxes and fees. Regardless of how authentic the check looks, it is no good. When it bounces, you will be responsible for the money you just sent.

– Overpayment scams:

Someone answers the ad you have placed online or in the paper to sell a product and offers to use the cashier’s check to pay for it. But at the last minute, the buyer comes up with a reason to write a check for more than the buying price, asking you to wire back the difference.

This fake check may fool bank tellers, but it may eventually bounce, and you will then have to cover it. So the best way to transfer money to Philippines is to make sure that you are keeping your eyes open and not fall into scams.