Last Updated on March 27, 2021 by Kathy Rukat Smith
WireTransfers During COVID
Setting up a wire transfer during COVID may be a little different at your bank than pre-COVID. In the past, I advised calling your bank around a week prior to closing to see what they needed you to do to schedule your wire transfer. Most banks require you to sign a wire transfer form. Under COVID restrictions, most banks are requiring an appointment for in-person meetings. Give your bank a call around 2 weeks prior to closing to schedule an appointment. This way, you know you have time to get things scheduled.
Wire fraud is something that has not changed during COVID. In fact, it may be getting worse. It is more important than ever that you are diligent in making sure your funds get to the right person. To do this, call your paralegal and verbally verify the wiring instructions that were emailed to you. Do not accept the wiring instructions that were emailed to you without calling to verify. Hackers are targeting emails during real estate transactions and sending incorrect wire instructions.
As always, contact me if you are interested in buying or selling in Murrells Inlet or the surrounding areas or if you want to learn more about the area. Have a great day!