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Wire Transfers

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  • Guido
    replied
    The Federal Reserve Bank will only transmit a wire if the funds are collected, thus it would be the safest form of receiving payment. While unknown by most, it is possible to put a stop payment on a cashier's check. Of course, with the increasingly sophisticated printers that are available today, there is also a possibility you could receive a fake cashiers check.

    The overseas equivalent of a wire would be a SWIFT.


    Leave a comment:


  • MikeW
    replied
    I figured it had to be pretty safe since my account number and routing numbers are across the bottom of every check I write.


    Mike
    www.packardhawk.com

    Leave a comment:


  • MikeW
    replied
    I figured it had to be pretty safe since my account number and routing numbers are across the bottom of every check I write.


    Mike
    www.packardhawk.com

    Leave a comment:


  • Dick Steinkamp
    replied
    quote:Originally posted by DEEPNHOCK

    I get nervous any time anyone has access to my account number,
    Your account number is on every check you write. You must be ONE nervous guy!


    Leave a comment:


  • Dick Steinkamp
    replied
    quote:Originally posted by DEEPNHOCK

    I get nervous any time anyone has access to my account number,
    Your account number is on every check you write. You must be ONE nervous guy!


    Leave a comment:


  • JDP
    replied
    The only down side is your bank might charge you a $10-$15 bank fee if it's a foreign transfer. I love it because it's near instant and 100% secure. Most serious collectors both pay and receive payments that way.

    JDP/Maryland
    63 R2 SuperHawk (Caesar)
    spent to date $54664,75
    64 R2 GT (Sid)
    spent to date $62,839.60
    63 Lark 2 door
    51 Commander
    39 Coupe express
    39 Coupe express (rod)

    Leave a comment:


  • JDP
    replied
    The only down side is your bank might charge you a $10-$15 bank fee if it's a foreign transfer. I love it because it's near instant and 100% secure. Most serious collectors both pay and receive payments that way.

    JDP/Maryland
    63 R2 SuperHawk (Caesar)
    spent to date $54664,75
    64 R2 GT (Sid)
    spent to date $62,839.60
    63 Lark 2 door
    51 Commander
    39 Coupe express
    39 Coupe express (rod)

    Leave a comment:


  • Dick Steinkamp
    replied
    quote:Originally posted by oltrknut

    It is very simple for him him to fed X a certified check , next day delivery , no risk to you that way
    FAR less risk with a wire transfer than with a cashier's check. There is NO way anybody can make a withdrawal from your account with the info needed for a wire (routing number and account number...BTW, these numbers are on EVERY check you write).

    A wire transfer is the safest, cheapest, fastest, most trouble free form of accepting money for a car.


    Leave a comment:


  • Dick Steinkamp
    replied
    quote:Originally posted by oltrknut

    It is very simple for him him to fed X a certified check , next day delivery , no risk to you that way
    FAR less risk with a wire transfer than with a cashier's check. There is NO way anybody can make a withdrawal from your account with the info needed for a wire (routing number and account number...BTW, these numbers are on EVERY check you write).

    A wire transfer is the safest, cheapest, fastest, most trouble free form of accepting money for a car.


    Leave a comment:


  • oltrknut
    replied
    It is very simple for him him to fed X a certified check , next day delivery , no risk to you that way, funds verified before they come for rig , STAY SAFE.

    Leave a comment:


  • oltrknut
    replied
    It is very simple for him him to fed X a certified check , next day delivery , no risk to you that way, funds verified before they come for rig , STAY SAFE.

    Leave a comment:


  • JDP
    replied
    Absolutely the beat and safest way to get paid. I've received dozens of payments that way.

    JDP/Maryland
    63 R2 SuperHawk (Caesar)
    spent to date $54664,75
    64 R2 GT (Sid)
    spent to date $62,839.60
    63 Lark 2 door
    51 Commander
    39 Coupe express
    39 Coupe express (rod)

    Leave a comment:


  • JDP
    replied
    Absolutely the beat and safest way to get paid. I've received dozens of payments that way.

    JDP/Maryland
    63 R2 SuperHawk (Caesar)
    spent to date $54664,75
    64 R2 GT (Sid)
    spent to date $62,839.60
    63 Lark 2 door
    51 Commander
    39 Coupe express
    39 Coupe express (rod)

    Leave a comment:


  • DEEPNHOCK
    replied
    Talk with your banker.
    Make sure your account can only have deposits made and not withdrawls made.
    You might be able to open up a separate bank account for just this transaction, and then close it when the transaction has been completed.
    I get nervous any time anyone has access to my account number, so your concern is justified.
    Jeff[8D]


    quote:Originally posted by MikeW

    I sold a guy a car and he wants to make a wire transfer of the funds into my banking account. This is new to me although I know its done. For those of you who have sold Studebakers this way, any risks I should be aware of?


    Mike
    www.packardhawk.com

    Leave a comment:


  • DEEPNHOCK
    replied
    Talk with your banker.
    Make sure your account can only have deposits made and not withdrawls made.
    You might be able to open up a separate bank account for just this transaction, and then close it when the transaction has been completed.
    I get nervous any time anyone has access to my account number, so your concern is justified.
    Jeff[8D]


    quote:Originally posted by MikeW

    I sold a guy a car and he wants to make a wire transfer of the funds into my banking account. This is new to me although I know its done. For those of you who have sold Studebakers this way, any risks I should be aware of?


    Mike
    www.packardhawk.com

    Leave a comment:

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