Wiring is a safe and secure method to transfer your funds for a closing, but it’s still important to protect yourself from fraud. Remember these three simple steps to protect your money from wire fraud.
Always call your settlement agent via their verified number to authenticate their wire instructions. Only accept wire instructions that are secured, encrypted and validated.
Work directly with your settlement agent to confirm your wiring instructions. This should be done via your agent’s verified phone number, not by email or text.
Changes to your original, verified wiring instructions are a red flag. Do not act upon any new instructions that may come to you via email, text or call. These directions may even appear to come from your settlement agent, real estate agent, or attorney, but should be ignored. Wire instructions rarely change, so when in doubt, reconfirm with your settlement agent over their verified phone line.