If someone you don't know wants to pay you by check and then asks you for some or all of the money back (by sending them a wire, giving them cash or some other means) – beware! It could be a scam that costs you all the money you send them.
How the scam works: Someone asks you to cash a check because they don't have an account or forgot their ID. Or you receive a check for something you believe is legitimate, such as to buy supplies for a job or claim a sweepstake prize. One scam gaining recent popularity involves purchasing car wrap decals. Whatever the reason, the scammer's tactics will likely be similar.
Don't get scammed: When making a check deposit, remember that Bank of America may give you immediate access to the funds, but you are responsible for the checks you deposit, including any check returned unpaid. So if you send funds before learning that the check bounced, you'll be left with the debt and the scammer will be gone with your money.
- There is typically no legitimate reason why anyone would give you a check or money order and ask you to send money anywhere in return.
- Don't use money from a check to send funds back to a stranger via gift cards, money order, wire or other means.
- Don't make deposits or cash checks for someone you don't know.
- Be sure to monitor your account activity for suspicious deposits.
Sign up for account activity alerts so you know what's going on with your account and can take action when needed.