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  • studegary
    replied
    I have used wire transfer in receiving payment for an eBay car. I believe it to be the safest long distance method.
    There are many fraudulent bank/cashier's checks around.
    Just to be on the safe side, I receive funds into an account that has very little money in it, like a couple of hundred dollars.
    I have been dealing with HSBC (formerly Marine Midland) for 45 years. They charged me $20 for wire transfer receipt of money into my account and their bank. This seemed ridiculous to me. I checked with the HVF Credit Union that I also use. They told me that there will be no charge for wire transfer. Guess who now gets my wired in money.

    Gary L.
    Wappinger, NY

    SDC member since 1968
    Studebaker enthusiast much longer

    Leave a comment:


  • studegary
    replied
    I have used wire transfer in receiving payment for an eBay car. I believe it to be the safest long distance method.
    There are many fraudulent bank/cashier's checks around.
    Just to be on the safe side, I receive funds into an account that has very little money in it, like a couple of hundred dollars.
    I have been dealing with HSBC (formerly Marine Midland) for 45 years. They charged me $20 for wire transfer receipt of money into my account and their bank. This seemed ridiculous to me. I checked with the HVF Credit Union that I also use. They told me that there will be no charge for wire transfer. Guess who now gets my wired in money.

    Gary L.
    Wappinger, NY

    SDC member since 1968
    Studebaker enthusiast much longer

    Leave a comment:


  • JDP
    replied
    I'd be delighted if a crook wired me too much money, I do take tips.

    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
    I'd be delighted if a crook wired me too much money, I do take tips.

    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:


  • MikeW
    replied
    Since I am the seller and not the buyer I see little risk for me in this transaction. I did once get a bogus Cashier's Check so I am a little careful when selling things. Best I can tell, the buyer runs most of the risk in a wire transfer. I have notified the buyer we will go through with the sale using a wire transfer to my bank.

    Mike
    www.packardhawk.com

    Leave a comment:


  • MikeW
    replied
    Since I am the seller and not the buyer I see little risk for me in this transaction. I did once get a bogus Cashier's Check so I am a little careful when selling things. Best I can tell, the buyer runs most of the risk in a wire transfer. I have notified the buyer we will go through with the sale using a wire transfer to my bank.

    Mike
    www.packardhawk.com

    Leave a comment:


  • wagone
    replied
    I don't know about the rest of you, but I'm always nervous buying a collector car. From bad titles, to wiring the guy the money and then never receiving the car or the title, to hiring an EXPERT (remember the definition of an expert, "anyone more than 50 miles from his home") and then having the expert know LESS about what he is looking at than you do. I hired a Florida EXPERT several years ago to evaluate an Avanti for me and I told him expressly what to look for on the torque boxes and yet he completely BLEW it. Paid him $800 and then I still had to pay another $500 to go have a look for myself and determine that the torque boxes were shot. And the top of the left front fender had a 1 1/2 inch long crack through the fiberglass (which he neglected to mention in his report) adjacent to the firewall--which was caused by the body sagging due to serious rusting of the front of the hog trough. But I suppose we all have experiences like that. In all honesty the last car I bought (off of eBay) went very smoothly and the seller was a good guy and honest--though I did talk to him in person and he showed me the title (and car). But I wired tranferred the funds to him and didn't see the car for three days--I'm not likely to do that again. But some people buy a car from eBay, wire transfer the funds, and have the car shipped and don't see it for two-three weeks. I know eBay has $20,000 in fraud protection, but it could be interesting to try and collect.

    wagone

    Leave a comment:


  • wagone
    replied
    I don't know about the rest of you, but I'm always nervous buying a collector car. From bad titles, to wiring the guy the money and then never receiving the car or the title, to hiring an EXPERT (remember the definition of an expert, "anyone more than 50 miles from his home") and then having the expert know LESS about what he is looking at than you do. I hired a Florida EXPERT several years ago to evaluate an Avanti for me and I told him expressly what to look for on the torque boxes and yet he completely BLEW it. Paid him $800 and then I still had to pay another $500 to go have a look for myself and determine that the torque boxes were shot. And the top of the left front fender had a 1 1/2 inch long crack through the fiberglass (which he neglected to mention in his report) adjacent to the firewall--which was caused by the body sagging due to serious rusting of the front of the hog trough. But I suppose we all have experiences like that. In all honesty the last car I bought (off of eBay) went very smoothly and the seller was a good guy and honest--though I did talk to him in person and he showed me the title (and car). But I wired tranferred the funds to him and didn't see the car for three days--I'm not likely to do that again. But some people buy a car from eBay, wire transfer the funds, and have the car shipped and don't see it for two-three weeks. I know eBay has $20,000 in fraud protection, but it could be interesting to try and collect.

    wagone

    Leave a comment:


  • Dick Steinkamp
    replied
    quote:Originally posted by Dads Baby
    Then there is nothing stopping them from sucking the rest from your account.
    You are going to have to explain that one. I've wired money to plenty of sellers. No sucking yet

    The overpayment scam is with a fake cashiers check...not a wire transfer. The scammer sends you a fake cashiers check for more than the amount of purchase. Before the check clears, you send him back the overpayment. The cashiers check turns out to be no good and you are out the overpayment.

    It would take a super dumb crook to WIRE you an overpayment expecting to make money on the deal. As Guido said, the wire CAN'T take place in less the funds are confirmed on the sender's part, and it is firmly in your account in a matter of hours.

    I will release the car and title with cash or a wire transfer. I will hold ALL checks until they clear...even cashiers checks. As Guido said, stops CAN be placed on cashiers checks (after the buyer has picked up the car and title), and there are many examples of bogus cashiers checks.

    The guy that bought my black Starliner paid with a personal check. That was fine with me. I shipped the car and title to him 10 days later when his check cleared. He knew that it would take about that long and was fine with the timing also.


    Leave a comment:


  • Dick Steinkamp
    replied
    quote:Originally posted by Dads Baby
    Then there is nothing stopping them from sucking the rest from your account.
    You are going to have to explain that one. I've wired money to plenty of sellers. No sucking yet

    The overpayment scam is with a fake cashiers check...not a wire transfer. The scammer sends you a fake cashiers check for more than the amount of purchase. Before the check clears, you send him back the overpayment. The cashiers check turns out to be no good and you are out the overpayment.

    It would take a super dumb crook to WIRE you an overpayment expecting to make money on the deal. As Guido said, the wire CAN'T take place in less the funds are confirmed on the sender's part, and it is firmly in your account in a matter of hours.

    I will release the car and title with cash or a wire transfer. I will hold ALL checks until they clear...even cashiers checks. As Guido said, stops CAN be placed on cashiers checks (after the buyer has picked up the car and title), and there are many examples of bogus cashiers checks.

    The guy that bought my black Starliner paid with a personal check. That was fine with me. I shipped the car and title to him 10 days later when his check cleared. He knew that it would take about that long and was fine with the timing also.


    Leave a comment:


  • Flat Ernie
    replied

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  • Flat Ernie
    replied

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  • Dads Baby
    replied
    Mike,
    Talk to your bank before you do anything! There are so many scams out there it sucks. If they wire too much to your account, they will ask for a refund. Once you wire the refund, you have established a trend. Then there is nothing stopping them from sucking the rest from your account. The bad thing about banks is once that account is overdrawn, they use your other accounts to "replenish" it. You could potentially have your car stolen right out from under your nose and possibly owe the bank $$$$.



    Carey
    Packard Hawk

    Leave a comment:


  • Dads Baby
    replied
    Mike,
    Talk to your bank before you do anything! There are so many scams out there it sucks. If they wire too much to your account, they will ask for a refund. Once you wire the refund, you have established a trend. Then there is nothing stopping them from sucking the rest from your account. The bad thing about banks is once that account is overdrawn, they use your other accounts to "replenish" it. You could potentially have your car stolen right out from under your nose and possibly owe the bank $$$$.



    Carey
    Packard Hawk

    Leave a comment:


  • 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:

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