Odd email from North Finance - Page 2
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Thread: Odd email from North Finance

  1. #11
    Quote Originally Posted by ;
    When the funds may be deposited and transfered out using a distinct name and bank account then your funds could only vanish / stolen readily.
    Isn't it before you are able to start a bank account, there are lots of security measures like asking for a couple of kind of ID's and other supporting documents? Additionally, brokers will definitely not move funds into a bank account distinct from the initial name of the customer.

    Let's say I have an account with a specific forex broker, and if I'd make withdrawals, I'd always fill out a withdrawal form and indie that the quantity and bank at which I want my money deposited. I am able to deposit it in HSBC, Standard Chartered, or some other bank I want where I have an account. Why should I send my bank statements for my broker to demone the bank account in HSBC, Standard Chartered, etc. is my account before he will send the money? Of course, the bank account would be in my title, same as the name I use in my forex account.

    However, what NF indied is that they'll simply deposit it in the bank where my friend would make a wire transfer to fund his new account. For instance, if my friend sent a wire transfer to fund his new account in NF using Unibank, and if my friend would make withdrawals, NF says it is only going to deposit his refunds to Unibank. Imagine if my friend wants to deposit it into his account in GlobalBank? Why not they let it? Imagine if Unibank suddenly went bankrupt? Does this mean my buddy's money can't be removed anymore?

  2. #12
    Thanks buddy for the info. Its good you're in here to update everybody.

    Due

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