An authorization hold will typically drop off your prepaid card account automatically within 8 days from the date of service or transaction if the merchant does not submit the transaction before that timeframe.
One of the current schemes involves a scammer contacting someone who has an item for sale on the Internet.
While Nigeria is most often the nation referred to in these scams, they originate in other nations as well.
In 2006, 61% of Internet criminals were traced to locations in the United States, while 16% were traced to the United Kingdom and 6% to locations in Nigeria.
Personal checks can “bounce” when there are insufficient funds in the check writer’s account; cashier’s checks do not bounce.
The counterfeits are generally of excellent quality and may even fool the bank initially.