Checking payment methods on a broker or investment project website
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One of the important steps when choosing a broker or investment project is to evaluate the methods of replenishing the deposit and withdrawing funds.
On the website of the company you are going to entrust your money to, you need to find a section with answers to frequently asked questions (FAQ) or a document with terms of use. They should include explanations about payment methods. You should make sure that deposits are accepted by bank transfer. This is the safest way to transfer a large amount. Reliable companies that service brokerage accounts and take money into management accept only bank transfers.
The service provider must first verify the client, and then send the user a guide on replenishing the deposit. It should include the details of the legal entity, which allow the transfer to be made both online from a smartphone and offline at the institution’s cash desk.
Bank transfers take time: the institution may need from 1 to 5 business days to complete the transaction. It is worth remembering the commission fee, which you should familiarize yourself with in advance.
- The details consist of the company name, legal address, correspondence address, TIN, KPP, OGRN, current account, correspondent account and bank BIC.
- A secure transfer can be made not only through a banking organization. The user can top up the account in any other way if it allows payments and payments according to the details.
- In the payment purpose, it is important not to forget to indicate the service for which the money is intended, or the account number and the full name of its holder, depending on what the company requires.
- In the payment purpose, it is important not to forget to indicate the service for which the money is intended, or the account number and the full name of its holder, depending on what the company requires.
Reliable service providers also withdraw funds via bank transfer. A verified user must send a request for an employee to process it. According to the generally accepted policy on preventing money laundering, you can withdraw to the same source that was used for replenishment. This is a normal practice that should not cause scandals.
What stop signals may there be when replenishing an account
Let’s assume that a user has decided to open a brokerage account or invest in a project. Now he needs to understand the process of depositing funds. In practice, it may turn out that a transfer to the details of a legal entity is impossible, despite the fact that it is stated in the FAQ and terms of use. This is a signal to refuse the services and continue searching for a reliable company.
What else should you pay attention to when depositing funds and what should you not turn a blind eye to? There are 5 situations that speak against a broker and an investment project.
The nature of communication with the manager
Most often, stories about the loss of funds begin with the fact that the owner of the capital received a call from a “persuasive person”. Many users do not exercise due diligence after communicating with the manager, although it needs to be strengthened.
Were you expecting a call from the manager? The best market players do not engage in cold calling. Are you being urged to deposit money into your account? Call center employees of reliable companies work on a salary, not on a percentage, and their job is to answer questions, not squeeze money out of interlocutors.
If after registration (and even without it) the owner of the capital is aggressively agitated to replenish the deposit and motivated by bonuses/cashback, he should continue to search for a reliable partner to increase funds.
Replenishment in BTC
There are such “brokers” who declare on the website the transfer of funds by bank details, and in the account – leave the public key of the crypto wallet. This should stop the owner of the capital from replenishing the account, even if he is offered help.
The peculiarity of transactions in BTC is that they are not tracked by the state. When the user sends coins to the wallet, he does not even know the name of the recipient. Companies that are supervised by state regulators do not support payment in BTC.
It is important to remember that funds must be deposited to the details of a legal entity. A cryptocurrency wallet can be created by an individual who is engaged in online fraud.
Unknown payment service
Fraudsters connect offshore payment services to their websites: this helps the owners of dishonest businesses maintain anonymity. If you see an unfamiliar service and do not find reviews about it online, this is a distress signal.
Fraudulent companies accumulate money in offshore accounts, then they withdraw it to the country of their actual location. It is important to understand that such frauds cross out the possibility of earning money. In this situation, the funds that are displayed in the account have zero value, as well as candy wrappers on a demo account.
As a rule, reliable companies provide customers with a choice. The user can transfer money to the details either at the bank cash desk or in the personal account on the service provider’s website, receiving a receipt with a seal.
Transfer to a personal card
There are known stories of fraud, when capital owners transferred funds to the cards of individuals. This is an unacceptable practice. A broker or investment project can only accept money to its own current account.
Fraudsters can use different methods to convince you to transfer funds to an individual card. As a rule, they disguise fraud as help: “it will be more convenient and faster, and the money will immediately go to the deposit.” In fact, this is replenishing a stranger’s card and nothing more.
Transfer to a personal card is unacceptable and serves as a signal to refuse service.
Replenishment using AnyDesk
Often, under the guise of help with replenishing an account, scammers offer to connect to the client’s computer via remote access programs. If the manager mentions AnyDesk or TeamViewer, refuse to cooperate.
Reliable companies that service brokerage accounts or manage clients’ money do not use AnyDesk and TeamViewer. In the financial world, these programs have acquired a negative reputation. Scammers use them to enter the user’s banking, transfer money to their account and disappear from the radar.
AnyDesk and TeamViewer make it impossible to punish anyone. From the bank’s side, the situation looks as if the user carried out the transactions themselves.
This list of warning signs when replenishing an account is not exhaustive. Be vigilant in the financial markets.
