Wire transfer safe?

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68383GTS

68383GTS

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Has anyone recieved a wire transfer for a large amount of money before?Lets say $24,000.It is 100% safe?Also I have a bidder that is bidding on my car on Ebay his feedback is 100% but he has his feedback hidden so you can not read the comments??Just sounds fishy to me..
I know ask the Bank about transfers but I just wanted to know does anyone here have any feedback.
Thanks,Jim
 
If someone intends to wire transfer funds to your account they will need your account information. Ignore this person and their offer , its fraud.
 
I've handled money transfers before for large amounts of money. I've had no problems. But this is what I've done: I've opened up seperate accounts, not tied with my main accounts to handle the transfers. Once done I keep a minimum balance in it to maintain it and transfer the rest into my main account...but this was back in the day when I had to worry about such things.
 
Went through this on a four wheeler years back.Pass,its a scam,theres better ways of doing business,this aint it.
 
wire transfer from bank to bank is probably the safest way to go. checks,money orders and cash can all be faked. his bank can't wire the money if its not in the account.
 
ramenth said:
I've handled money transfers before for large amounts of money. I've had no problems. But this is what I've done: I've opened up seperate accounts, not tied with my main accounts to handle the transfers. Once done I keep a minimum balance in it to maintain it and transfer the rest into my main account...but this was back in the day when I had to worry about such things.
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Seperate account would work,they dont have access to your funds that way.Why cant they Paypal?Thats foolproof,no?
 
The only thing really bad about it is that you must provide your bank account number, name, and routing number to the person sending the funds. If its legit then just hold the funds for 90 days to give any one with a possible claim to it a chance to come forward.

I have an savings account that I keep $50 in just for such times. That way no one gets anything if they use a phoney wire transfer OUT of my account.
 
340sixpack said:
Seperate account would work,they dont have access to your funds that way.Why cant they Paypal?Thats foolproof,no?
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Back when I did such things PayPal didn't exist. But it seems to me PayPal would be the best way to go in this manner.
 
He said he could use Pay Pal.I would have to update my Pay Pal I have not used it in two years.This is why I deal in cash, use a money marker and check the serial numbers.Sorry I just don't trust anyone.
He is not gettting anything until I have cash in my hand wire transfer or not.I just want to make sure a wire transfer will not come back to haunt me somehow.
Thanks,Guys
 
I sold a car, and had the out of state buyer mail me a personal check from his checking acct. I went to a local branch of his bank, and cashed his check at his bank for cash, with no problems. Since I did not have an acct with this bank, I did have to supply photo ID and my thumb print, but if the money wasn't there, they would not have cashed the check, and if for some reason he dicided to stop payment or there was fraud, on his part, they could not come after me, as I did not have an acct there.
 
I get certified cashier's checks only on USA bank.
I then get the phone number from information not off the check.
Call to verify the check twice.
Place the check for "Collection" at your bank. There is a bank fee for this.
Wait 14 days until the funds are clear.
Keep the car and title.
Call the issuing bank again to make sure that everything is good.
Call your bank to make sure that everything is good.
By sending it out for collection it makes your bank responsible if they pay you and the check ends up bad.
Send the car and title per buyers instructions.

Unless this has changed in the last couple of years I found this to be the safe way to handle it. My banker turned me on to this method.
 
68383GTS said:
Has anyone recieved a wire transfer for a large amount of money before?Lets say $24,000.It is 100% safe?Also I have a bidder that is bidding on my car on Ebay his feedback is 100% but he has his feedback hidden so you can not read the comments??Just sounds fishy to me..
I know ask the Bank about transfers but I just wanted to know does anyone here have any feedback.
Thanks,Jim
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Copy his eBay ID and then search what he has bid on in the last 30 days. It will show completed auctions only.
If you find no information then tell him to remove the private off his feedback so you can view it. He can always make it private again.
 
I see no where to check his bid history.He has been a Ebay member since 2001,feedback is 100% and a score of 860.I guess I could ask him to remove pirvate off his page.I just find that odd if you have great feedback why wouldn't you show the comments?
Jim
 
Be very carefull of wire transfers,me I'd pass.I've sold $150,000 worth of vehicles on E-Bay and never accepted one.
 
68383GTS said:
I see no where to check his bid history.He has been a Ebay member since 2001,feedback is 100% and a score of 860.I guess I could ask him to remove pirvate off his page.I just find that odd if you have great feedback why wouldn't you show the comments?
Jim
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Jim,
If you want to PM me his ID I will take a look.
 
If he is legit-- why not have your bank contact his bank(with his numbers)-- that way you do not have to give out your numbers-- it might cost a little more-- but I would think this would give you some piece of mind ,Lawrence
 
Theres nothing to steal out of my account anyway..LOL Settting up a new account at a new Bank sounds like a good idea.Then close the account after transfer. Jim
 
scuba0331 said:
What about using an escrow account?

www.escrow.com
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That's what I did when I bought my Dart on eBay - worked like a charm. I didn't release the payment funds from escrow to the seller until I received the car and verified it was as the seller described and all components were there.
 
I've done single wire transfers of over $100 k. It's the only way in my opinion to guarantee funds. He can't take funds out of your accoun't you don't have. I've only done transactions US and Canada, not overseas so I can't comment on them. You can request that your bank get in contact directly with his after the transaction before you transfer the goods (your car) to verify the transaction from their end and verify the legitimacy of his bank and account. Also check with your bank before the transfer to see if they would hold back funds for any reason. Once you've taken it out they can't take it back. Kev
 
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