Bank to Bank Transfers?
- Thread starter buddha162
- Start date
Downside maybe that you will have to provide fairly comprehensive information about your banking information to a stranger ... in order for that person to make the wire transfer.
Once the money is in your bank, I don't think there is much danger of it just disappearing.
I've not received bank transfer but have made few to buy a cue ... as a buyer, it's cheaper than western union.
Good luck.
Once the money is in your bank, I don't think there is much danger of it just disappearing.
I've not received bank transfer but have made few to buy a cue ... as a buyer, it's cheaper than western union.
Good luck.
Go to your bank and open a NEW account.
Have money transferred to THAT account. Then as soon as it is in, transfer it to your real account. Then close the new fluff account.
Then at least you aren't providing your real bank account details to a stranger. And nowaday opening a new account takes 15 minutes. Worth it!
Have money transferred to THAT account. Then as soon as it is in, transfer it to your real account. Then close the new fluff account.
Then at least you aren't providing your real bank account details to a stranger. And nowaday opening a new account takes 15 minutes. Worth it!
Roger, I always do wire-transfer for my purchase. It is faster and safest for both buyer and seller. Paypal is still abit more risky. You can always create an additonal account for doing international transaction if you are afraid of exposing you present bank's account.
You might need to ask the buyer to send an additional $10-20. This is because some banks do deduct commission upon arrival, you end, even though buyer had paid their side.
If using bank draft, it take about a week or so to reach you (snail mail). And you have to wait for several days for the draft to clear. Don't sent item before cheque is clear.
Another way is using Western Unipn, which I think buyer would like to avoid. Unless he can trust you, he can consider using this method.
Hope this help.
You might need to ask the buyer to send an additional $10-20. This is because some banks do deduct commission upon arrival, you end, even though buyer had paid their side.
If using bank draft, it take about a week or so to reach you (snail mail). And you have to wait for several days for the draft to clear. Don't sent item before cheque is clear.
Another way is using Western Unipn, which I think buyer would like to avoid. Unless he can trust you, he can consider using this method.
Hope this help.
titlistsucker
Deceased
i been using bank wire since my last difficulty with Paypal which is well documented in a previous thread. To date all that had transacted with me on paypal has got their cues. Paypal is high handed and its been costing me a couple of quid to just call them.. i would say i will avoid Paypal if possible there on now. if u think u are paying a bit more to get paypal protection read this www.nopaypal.com
Using Bank wire is a matter of trust. if the seller is trusted than all is fine. its also more economical as it cost ard 10 bucks on the buyer on bank fees and ard 20-30 bucks on the seller. Wire also gave better currency transfer (bank) rates so if u wonder why taiwanese insist on wire u know now. i typically lost quite a bit on paypal fees and money when i withdraw on paypal so i just keep it in paypal last time and use it to buy another cue.. i havent have any troubles as yet with wire. And a couple of AZer has trusted me enuff to use wire with me.
Bgrds
Raist
Using Bank wire is a matter of trust. if the seller is trusted than all is fine. its also more economical as it cost ard 10 bucks on the buyer on bank fees and ard 20-30 bucks on the seller. Wire also gave better currency transfer (bank) rates so if u wonder why taiwanese insist on wire u know now. i typically lost quite a bit on paypal fees and money when i withdraw on paypal so i just keep it in paypal last time and use it to buy another cue.. i havent have any troubles as yet with wire. And a couple of AZer has trusted me enuff to use wire with me.
Bgrds
Raist
bank transfer vs. paypal
Usually I transfer my payments via paypal and had problems only once (didn't receive the goods I paid for). As a buyer there are two pro's in my opinion: insurance for the money sent, at least upto a certain level and secondly no cost! When I did my last bank transfer to the US my bank charged me 50USD for the transfer of around 400USD which is much more than the 3% paypal fee. On the other hand you can choose who has to pay for the transfer or split cost between seller and buyer. I think it makes only sense for the buyer to advise the money via bank transfer as soon as the amount is more than 1,5kUSD or if the seller pays for the transfer.
Just my 2c.
Usually I transfer my payments via paypal and had problems only once (didn't receive the goods I paid for). As a buyer there are two pro's in my opinion: insurance for the money sent, at least upto a certain level and secondly no cost! When I did my last bank transfer to the US my bank charged me 50USD for the transfer of around 400USD which is much more than the 3% paypal fee. On the other hand you can choose who has to pay for the transfer or split cost between seller and buyer. I think it makes only sense for the buyer to advise the money via bank transfer as soon as the amount is more than 1,5kUSD or if the seller pays for the transfer.
Just my 2c.
Bank transfers are usually about $50US, and once the money is in there, it's very difficult to take it back out, if not impossible by the sender.
People don't realize that it is not hard, especially for international transaction via charge cards, to cancel funds, even after they are present in the account.
People don't realize that it is not hard, especially for international transaction via charge cards, to cancel funds, even after they are present in the account.
I use Bank wire transfers and paypal all the time.. Either way, you have to be careful and know your customer. With overseas transactions, paypal does not protect you if you DO NOT have a confirmed address. Same goes with Bank wire transfers. If the bank finds out that a fradulent account was used, they will be able to reverse the funds out from your account.
If you are really iffy on this transaction then I would do one of these 2 things:
1) Western union or money gram
2) A bank check from a Major US Bank ie, Citibank, Chase or Bank of America. You can take that check to any local branches here in the US to cash it.. If its fake, then you'll find out right there.
If you are going the bank wire transfer route, then follow Shinobi's advise. I have a separate account just for bank wire transfers. Hope that helps.
If you are really iffy on this transaction then I would do one of these 2 things:
1) Western union or money gram
2) A bank check from a Major US Bank ie, Citibank, Chase or Bank of America. You can take that check to any local branches here in the US to cash it.. If its fake, then you'll find out right there.
If you are going the bank wire transfer route, then follow Shinobi's advise. I have a separate account just for bank wire transfers. Hope that helps.
buddha162 said:
Direct transfer (wire transfer, electronic transfer) is the safest way to accept payment. The information you are giving out is no more or different than if you handed a check to someone, account name, number, bank address and routing number.
The only caution I would give is this - for a foreign contact, alway ask them for several people here you can contact as a reference, to be resonably confident they are not a scammer.
If it is a scammer, they will have your e-mail address, name, bank name and account number. They may be able to use or sell this information for a future scam on you. There are some things they can use this info for, like phishing e-mails for online banking passwords, that sort of thing.
Chris
Wire transfer offers better exchange rates. I use wire transfer all the time with overseas clients. They have to pay the fee.
You also need a swift code or what ever they call it. Sometimes, they have problem with wiring me the money when I do not provide them that code.
You are not really giving out any more info than when you hand someone your check. As a matter of fact, you are giving out less info because you are not showing them your signature. I dont see why you would need another account for one transaction.
If you need someone to receive the money for you in Taiwan and make sure everything is in order, PM me and I can help you.
Richard
You also need a swift code or what ever they call it. Sometimes, they have problem with wiring me the money when I do not provide them that code.
You are not really giving out any more info than when you hand someone your check. As a matter of fact, you are giving out less info because you are not showing them your signature. I dont see why you would need another account for one transaction.
If you need someone to receive the money for you in Taiwan and make sure everything is in order, PM me and I can help you.
Richard