Difference between server to server a...

Difference between server to server and wires

Posted in the Banking Forum

Since: May 11

Location hidden

#1 Oct 9, 2013
I have seen on another site, offers for people looking for a receiver or provider for a server to server deal. Several people have replied that it is the same as a wire, is that so? Then you get people talking about codes that are needed, just wondering how a server to server deal works ( if at all ) as I know how a wire works ( have sent many in the past ).

Victoria, Canada

#2 Oct 9, 2013

There is no "server to server" deal. It's false peddling.

SWIFT is the accepted standard to send money via verifiable banks. There are alternatives like Western Union, Paypal etc. However, these alternatives are fraught with pitfalls with little to no recourse if a deal goes awry.

Banking systems and software are very specific and highly complex in their design.

There are multiple technical protocols to follow with specific checks and balances built into the system.

The communication system is dedicated fiber optic channels with multiple redundancies. The core components are segregated physically and virtually with multiple security safeguards.

The software modules used are of multiple language construct and are appropriately isolated to prevent deep hacker penetration. Especially, the GL components.

Since: Oct 13

Location hidden

#3 Oct 9, 2013
SWIFT is just a system of secure encrypted communication between banks, it is a cooperative society based in Belgium, serving banks worldwide.

There is nothing preventing banks to "transmit" money in other manners outside of the scope of SWIFT system. As long as money has shown on your bank account, you have received it, and manner of transfer shall be left to the bank.

Many offshore banks offer thus intentionally wire transfers which are not SWIFT based, for purpose of better privacy. Many banks keep "corresponding bank accounts" which may also be used for quick payments without SWIFT.

A bank in Lithuania may hold corresponding bank account in Denmark. Direct cash payment on such bank account is not tracked as it is local payment. In many cases not even the ID will be asked, depending of country to country. Moneys deposited that way appear on the offshore bank account in another country, and there was no SWIFT involved.

There are other transfers used by many banks in Europe, where transactions are meant to remain private.

For bank account introduction: http://www.tgbai.com
A Justday

Dunkirk, NY

#4 Oct 10, 2013
All the nonsense...I said it before, don't advertise w/ your mouth and show me your deed!

A waste of time! Go legit!!!

Since: May 11

Location hidden

#5 Oct 10, 2013
I am slowly learning how to spot fakes and have come to realize that most people with deals that seem too good to be true are full of you know what. In fact I was playing along with the person who sent me the deal. I told them that I had someone that could help and that I would be in contact shortly. I asked another person that said they could do a S2S deal and they needed more info. I sent them the info from the first person I had contact with and what happened next?? I get an email from the first person saying " you don't know what you're doing and I do because I'm a banker and do deals like this every day." I wrote them back and asked if he was a blanket, why would you need my help? Hasn't written back yet.

Victoria, Canada

#6 Oct 10, 2013

It's important to start learning the correct definitions of various banking terms. And more importantly, the rationale behind the systems and processes.

Correspondent Bank:
A financial institution that provides services on behalf of another, equal or unequal, financial institution. A correspondent bank can conduct business transactions, accept deposits and gather documents on behalf of the other financial institution. Correspondent banks are more likely to be used to conduct business in foreign countries, and act as a domestic bank's agent abroad.

Correspondent Account (otherwise known as nostro or vostro account):
Is an account held by the foreign bank established by that banking institution to receive deposits and make payments on their behalf. The primary reason is the domestic entity you are dealing with requires payment in local currency. Also,for the foreign bank, it skirts around the fact they normally need to have a banking license to work in that country.

Be safe.

If you require assistance or have a question on other matters, introduce yourself to me at danavladeem at yahoo dot com.

Victoria, Canada

#7 Oct 10, 2013

Contrary to an assertion by another poster, payments between correspondent banks are tracked.

Countries that have initiated or signed on to various global anti-money laundering protocols require their various banking institutions to archived audit trail data and turnover data to law enforcement and banking regulatory agencies when requested, or in certain cases file daily reports with these said agencies.

The other assertion of the idea that ID is not asked at some of these banks flies in the face of good banking practices. You need to question yourself, if you run into such a situation, would you be comfortable with it.

Here is a snippet list of banks you do not want to do business with:http://www.scotiabank.com /ca/common/pdf/about_scotia/7_ US_Dept_of_Treasury_Issues_Rul ing_Against_Foreign_Banks_(May _29_2013).pdf

Also, get the full list from the US Department of Treasury.

If you have a solid long term relationship with one specific global bank, they will provide you information on what banks to avoid. These banks are used by scammers and other nefarious types.

Victoria, Canada

#8 Oct 10, 2013
Exercise good sense when dealing with websites where contact information is a form submission.

Some dubious businesses use mailing addresses of mail forwarding businesses.

Since: Jan 13

Location hidden

#9 Oct 10, 2013
I can carry money in my suit case. You hire my services and I will deliver the money to your partner. I charge very low for my services.
A Justday

Dunkirk, NY

#10 Oct 10, 2013
Thomas T Lee wrote:
I can carry money in my suit case. You hire my services and I will deliver the money to your partner. I charge very low for my services.
We have a forger and cheater from Honolulu...Let me declare: I look ten times if not hundred times better than that short and stubby, dark faced Latino, David Cheever!!

He had contacts w/ US Treasury and Feds...He stole my Driver License Photo of 2011 when I renewed it, and twisted it around to look like him ...

He never changed his hideous behavior to forge, to steal and to use other name to Defame...His sins will be exposed soon!!!

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